4 Biggest Obstacles Homeowners Face When Selling a House on Their Own

When it comes to selling a home, most folks believe they can do it on their own. Whether they're trying to save money or simply want greater control over the process, these homeowners try to sell their homes without the help of a real estate agent; however, they often experience more stress than those that hire an agent. Here are four common challenges people face when they try to sell their home on their own:

Getting the Right Price

Many homeowners who choose to sell their home without a REALTOR® struggle with setting the price for their home and getting the most for their house. Because of their feelings and emotional attachment to the house, they're unable to price their home objectively, often valuing it for more than it's worth. When the price is too high, fewer buyers will be interested and the sale will take much longer.

Understanding and Performing Paperwork

Selling a home requires more paperwork than most homeowners think. If they have never sold a home before, some of it can be difficult to understand and complete. A real estate agent has the training to comprehend all the legalese and explain it to you. Plus, they can remove this unnecessary stressor from the selling process.

Selling Within the Planned Length of Time

Many homeowners underestimate how long the selling process actually takes. From getting your home ready for sale, to showing potential buyers, to the closing process, selling a house takes much longer than most people think. Homeowners may, in turn, set unreasonable deadlines for themselves and inevitably fall short.

Preparing and Fixing a Home for Sale

Before homeowners can even post their ad, they will need to make repairs and stage their home. This is an essential step that most homeowners overlook when selling on their own. Potential buyers judge the house by the photos posted with the ad, and if the photos don't show a clean and beautiful home, they will keep on scrolling.

There are so many more obstacles that come with selling your home if you choose to do it on your own. Make selling real estate easier and stress-free by working with a real estate agent!

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS........your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy#puremichigan #SOLD

THREE BIG MISTAKES FOLKS MAKE WHEN THINKING ABOUT A HOME PURCHASE

MISTAKE #1

Falling in love with a home before determining how much they can afford.

It’s always fun to browse on line or stop by open houses, but when it’s time to get serious it’s important to find out where you stand financially.  It’s hard to compare the $400,000 home that you loved to the $200,000 home you can afford! 

Don’t let this happen to you! 

Talk to a lender, be open and honest about your situation.  If they don’t ask to review ALL of the financial documents that could have a bearing on your approval, move on.  Find a lender who will help you to navigate the process.  Find a lender who will review your credit score to see if there are any steps you can take to improve your scores for a better loan.  Find a lender who cares about you and helping you to get the best loan

ASK QUESTIONS!

Mistake # 2

Considering the maximum they qualify for instead of what their comfortable monthly payment might be

Consider Your Lifestyle-Don’t be house poor!  What do you like to do?  Go out to eat, special hobbies, kid’s education, savings?  What additional expenses are coming up? New car, new baby?  In-laws moving in?  Will you be getting a raise? A new job? A second income? An inheritance?   All of these things should be considered.    

What is comfortable? Only you can answer this question!

Don’t forget to speak to your tax advisor about the tax benefit of homeownership, this may help stretch the budget.

Speaking of budget, that leads me right to the third mistake.  

MISTAKE #3

Failing to budget.  

You may be amazed at how many bank statements I review that the outgo matches the income almost to the penny-Starbucks every day, McDonald’s, Old Navy, Target.  Folks forget to save money.  $5 here, $10 there adds up and could keep you from buying a home that you love! 

TIP:  Overdrafts can be a loan killer…keep track of those purchases and DON'T overspend!

Many folks thinking about a home purchase consider the down payment (Did you know you DON'T need 20% down to buy?), but they don’t consider out of pocket expenses, earnest money deposits, appraisals, home inspections.  They forget about the cost to purchase including closing costs, prepaid expenses and setting up escrow accounts for homeowner’s insurance and property tax payments. The seller can contribute toward closing costs, if negotiated into the contract.  How much they can contribute can depend on the type of financing.

In some cases, owning a home will cost less than renting.  In others, folks are moving up and moving out…this means more monthly and bigger annual and one-time expenses than you may be used to, more maintenance costs and higher utility bills.  Don't forget about those unexpected expenses when something breaks down or needs replacing, you won't be able to call the landlord!  Budgeting is key to being ready for home ownership!

If you are thinking about buying in a month or in a year, talk to a great lender in your area to find out where you stand and what steps you can take to be MORTGAGE ready. 

Holly Hurd~ 

Is a REALTOR with Coldwell Banker Weir Manuel
in Northville, Michigan 48167
#1 Firm in MICHIGAN

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #homerocks #YourHome

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate #reaestatemarket #realestateforsalemi#hometown #hollyhurd #home #homesforsale #historicnorthville #buy#buyingahome #buildingahome #buyrealestate #condo #coldwellbanker#northville #northvillemi #sellyourhome #sellingyourhome #smalltown #shop#cbwm #cbbelieves #moveinmichigan #greattimetobuy #greattimetosell#sold

Coldwell Banker Weir Manuel Blue Matter / The part of the brain that thinks about real estate

A "Frozen" Lesson for Homebuyers

by HOLLY HURD 
Realtor with Coldwell Banker Weir Manuel

I had the pleasure of watching "Frozen" this weekend, and like most animated Disney features, I really enjoyed it. If you haven't seen it, I would encourage you to check it out. The advent of pay per view cable and satellite TV has given those of us without small children the opportunity to see the films we would have taken our kids to in a different time, and you can do it without showing up in a theater feeling like the creepy adult in a room full of adolescents and toddlers.

One of things that happens in the film surrounds little sister, Anna. Prior to the beginning of a ball, she meets a handsome prince. During the ball, they link up again and she is smitten. Before the ball is over, they decide to get married, and it's that decision that sets the rest of the movie in motion. When Anna tells her sister about her wedding plans, Queen Elsa refuses to let her. The events following send Elsa off into the mountains to live as a recluse snow queen.

While on a search to find her sister, Anna runs into an ice salesman who guides her path to Elsa. In one of the early conversations they have, Anna confesses to the ruggedly handsome Kristoff that she is in love and to be married. She relates the story, and Kristoff is appalled that she is going to marry a man she just met. He brings it up over and over. This is where I leave the movie.

How many home buyers want to buy the first home they see? In my experience, it's actually a small number. I would say it's in the 10-20% range. The one thing they say over and over is, "Is it wrong to buy the first house you look at?" I would respond, "Not necessarily, but it really depends."

Depends on what? 

• Does the house meet your needs?
• Does the house meet your location choice?
• Does the house correspond to your financial abilities?
• Does the house offer a good deal overall?
• Is the house in a condition that meets your approval?
• Have you done your homework online to see what else it out there?
• Have you listed the pros and cons of the house as compared to looking at others?
• Are you sure you're not making a snap decision because the market is too competitive and you're afraid you won't be able to buy any house?
• What would be wrong with buying the first house you looked at if it turns out to be what you wanted?

I sold a property to a client a number of years ago who looked at 60 houses. He finally bought the first one he looked at. Thank goodness the market was moving slower then. He had the privilege of looping back a few weeks later, but in a hot market that isn't always possible.

Buying a house should be about meeting your needs. First, fifth, tenth house, there is no set number of views that make one a better decision than another one. Overall, it's all about meeting your needs. In Anna's case, the first husband candidate didn't work out. Fortunately, she found out before she said, "I do." In her case, the second choice was a better choice.

It's not the number of houses you look at. It's the ones that meet your criteria. If you're just looking at houses with no criteria, you may just as likely become "Frozen" without any sense of right and wrong. Decide what you want, weigh the options and buy based upon an intelligent choice.

Holly Hurd~ 

Is a REALTOR with Coldwell Banker Weir Manuel
in Northville, Michigan 48167 

#1 Firm in MICHIGAN 

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #spring #YourHome

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate
 #reaestatemarket#realestateforsalemi
 #hometown #hollyhurd #home#homesforsale #historicnorthville #buy
#buyingahome#buildingahome #buyrealestate #condo #coldwellbanker#northville
#northvillemi #sellyourhome #sellingyourhome#smalltown #shop #cbwm
 #cbbelieves #moveinmichigan#greattimetobuy #greattimetosell #sold

Last month, the Federal Reserve, in a unanimous vote, decided to further decrease its bond purchasing. The bond purchases were the government’s stimulus package created to keep long term mortgage interest rates artificially low in order to help drive the housing market. Most experts believe that tapering will cause interest rates to increase as we move through the year.

Interest rates have remained relatively stable since the onset of the tapering in December. This is probably because the first round of increases had already been ‘priced into’ the equation last summer when rates skyrocketed by over a full percentage point just on the speculation that tapering would take place later in 2013.

However, as we move forward, most analysts believe rates will start to rise culminating in a rate close to a full percentage point higher than current rates by this time next year. For example, Freddie Mac, Fannie Mae, The Mortgage Bankers’ Association and the National Association of Realtors have all recently projected rates to be between 5-5.4% at this time next year.

Bottom Line

If you are a first time buyer or a move-up buyer, the cost of the mortgage on your new home will probably increase as we move through the year. If the timing makes sense, buying sooner rather than later may save you a substantial amount of money over the long term in lower mortgage payments.

Holly Hurd is a REALTOR with Coldwell Banker Weir Manuel in Northville, Michigan 48167

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #homerocks

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate #reaestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #coldwellbanker#northville #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #cbwm #cbbelieves #moveinmichigan#greattimetobuy #greattimetosell #sold #mls

Homes for sale in Northville, Michigan

Holly Hurd is a REALTOR with Coldwell Banker Weir Manuel in Northville, Michigan 48167

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #homerocks

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate #reaestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #coldwellbanker#northville #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #cbwm #cbbelieves #moveinmichigan#greattimetobuy #greattimetosell #sold #mls

A Shortage boosts prices of houses in metro Detroit

A shortage of move-in-ready houses and condos continues to drive up metro Detroit home prices.
Newly released figures show the median February home sales price was $80,000 in the four-county region of Wayne, Oakland, Livingston and Macomb.
That price was the same as January, but a 38% increase from the median sales price of a year ago, according to data compiled by Realcomp, a Farmington Hills-based multiple listing service.
The highest year-over-year jump was in Oakland County, where prices rocketed 47% to $139,770. Washtenaw County was not included in the data.
HOLLY HURD attributes most of the price rise to the small supply of for-sale homes.
The inventory of available homes in the metro area last month was 14,544, or 25% fewer properties than a year ago, according to Realcomp.
There are fewer short sales and foreclosure sales these days.  We have not seen them hitting the streets like we used to.
Yet despite the increases in home prices because well mainly of a lack of inventory, prices have a long way to go before all owners who are underwater on their mortgages can sell without taking a loss. If you have a home or condo HOLLY HURD will sell it, I will get top dollar for you  in today's marketplace, although not what it was at in 2005.  Indeed, home prices in metro Detroit remain 37% below their December 2005 peak and 20% below 2000 levels.


Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs.

www.Northvillehomes4sale.net 

NORTHVILLE MICHIGAN MY HOMETOWN

NORTHVILLE, MICHIGAN~ Northville is an affluent city located in and divided by Oakland and Wayne counties in the U.S. state of Michigan. The area is a suburb of Metropolitan Detroit. The population was 5,970 at the 2010 census. Most of the city is in Oakland County, and is surrounded by the city of Novi. The Wayne County portion is surrounded by Northville Township. Northville is served by Northville Public Schools. The city is located 21 miles northeast of Ann Arbor and 29 miles northwest of Detroit. Growing up in Northville, Michigan for over 40+ years I know first hand Northville was once a very small town most know for the race track (northville downs) with a wonderful downtown area. I have watch this once small town flourish into a great community but still maintain is small town Victorian charm, you could say it is "a town where everybody knows your name"

I consider NORTHVILLE, Michigan an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself As a Real Estate Professional, I am dedicated to giving exceptional service to all sellers and buyers. I really enjoy seeing peoples dreams fulfilled. The process of buying a home should be a positive one, and I do my best to make that dream a reality. I will do everything I can to earn your trust and friendship..I WILL GIVE YOU 110% because you are the customer....
warmest regards,

Holly Hurd

www.Northvillehomes4sale.net 

Call to Action for Homeowners... We Need More Homes for Sale

Today's News Headlines coupled with a continuously changing real estate market,  is once again, creating a slowing in the market.  Ask any local Realtor and undoubtedly you will receive consistent responses such as:   "The supply of homes for sale is the lowest we have seen in years"    " We receive multiple offers within a matter of days on many of our listings"   "Our Buyers are extremely frustrated because they lack homes to choose from"    

HOLLY HURD  like most area professionals is working with several buyers who are ready, willing, and able to Buy Now!   Many homeowners may not realize that we have experienced several months of recovery.  Prices have increased in several locations and price ranges.   Supply and Demand has created  Seller's Market in certain price brackets.    Now may be The Best Time to Sell Your Home. Call me Holly Hurd today and we can get started marketing your home to get you top dollar in todays market .

www.Northvillehomes4sale.net 

HOLLY HURD        (734) 718-5736

Coldwell Banker Weir Manuel

201 Cady Center st

Northville Michigan 48167

4 tips from a serial home remodeler

1. Go with a mom-and-pop shop

When it comes to tradesmen, from roofers to painters, a pro who will do your job with his or her own hands is preferable to one who'll send out hired guns. You tend to get better quality and reduce the chance that details of the project will get lost or muddled as they get passed from person to person. You may also pay 5% to 20% less because the company's overhead costs are lower.

Of course, no red-blooded pro ever volunteers the fact that he's going to be out golfing while his workers get your job done, so I don't hire a tradesman until I've asked point-blank whether he will be on site daily doing the work.

Related: Find the best handyman for the job

The exception to this owner-operator advantage, however, is a general contractor for a big, complicated project like gut remodeling a kitchen.

A larger company with a full-time manager at the helm is likely to have relationships -- and pull -- with the best subcontractors, and may use specialists for more elements of the job. Even then, though, it's best if those subcontractors "get their hands dirty" rather than leaving the work to employees.

Ask any contractor you're interviewing if he uses owner-operated subs.

2. Buy it yourself

You can get a cheapie faucet for $25, or, if you're tired of using your cash for fireplace kindling, buy a remote control model for $3,000. And there's similar price variation for nearly every aesthetic element of a project, so never let your contractor choose an item that involves personal taste.

I guarantee he'd base his bid on something cheaper than you want, and when it's time to install, say, the pendant lights over your new island, you'll have to settle for the cheesy ones he picked or absorb the upcharge for the lights you prefer.

Related: Make your old house look new again

Buying your own fixtures and finish products -- from tubs to tiles -- prevents these surprises and saves you the 10% to 20% markup a pro typically tacks on to what he pays (you may even be able to use his 5% to 20% contractor discount at local stores).

I've found that good contractors don't mind this, and are relieved not to have to make those choices. There are things, though, that he needs to measure and order himself, like windows, trim, and flooring. Get his help shopping for these items and tell him what you want before he bids.

3. Be a good customer

The homeowner-contractor rapport tends to start out affable but can wind up somewhere between civil and surly. Remodeling is stressful, and as in many business transactions, things can turn adversarial when problems arise.

Still, it pays to pick your battles. While you certainly want to hold a hard line on quality and price, be flexible about timing when possible.

Yes, delays are a nuisance when you're living without a kitchen or a place to shower, but the contractor is dealing with a massive scheduling puzzle of different customers, tradesmen, materials deliveries, and weather conditions. Better to get the job done right but late, than on time but slapdash.

Related: Home repairs - Which jobs come first?

Paying your bills promptly, treating crews with respect, and rewarding excellent work with recommendations to friends will earn goodwill back from your contractor.

Indeed, the pros I've worked with don't advertise, depending instead on word of mouth to get new clients. So you can bet I get quality results, quick responses, and referrals to their vetted tradesmen for whatever future work I need done.

4. Plan for overspending

Big projects go over budget. Surprises like missing beams and carpenter ants -- or in my case, a yard-long crack in a drainpipe -- may hide behind your walls. And you're probably going to fall in love with, say, a spectacular stone countertop, despite having planned something easier on the pocket.

So don't stretch for a project and tell yourself that you're going to "Just say no" to costly changes as the work goes on.

Related: Free up money for the things you want most

On commercial renovations, budgets typically include a 5% to 10% contingency, and isn't a family more likely to make changes than a corporate team? Budget a cushion of 10% to 20% and you won't run out of funds for the final details, like when we realized we had to have custom stools for our new kitchen.

To control rising construction costs, jot a description of any new work and the agreed-to price on the back of the contract, and make sure you and your contractor initial it. That provides clarity -- and documentation -- about what you're paying. And that's about as solid as the financial footing gets on a big renovation.

Before you make the final payment

You know to hold back a few grand until you're satisfied with every last renovation detail. Below, three things you may not think to include:

Magnet sweep. A laborer should walk a giant wheeled magnet around any exterior work (and dumpster) locations on your property to pick up the hundreds of rusty old nails hiding in the grass and mulch.

Sample pieces. Ask for scrap pieces of any moldings used and product specs for items like windows and floor stain so you can easily match them on future projects, even if you hire someone else.

Certificate of occupancy. When you sell someday, you'll need proof that the work is safe and up to code. Hold back payment until you have this document -- usually called the certificate of occupancy -- in hand.