When selling your Vero Beach home, you need to be aware of the things that turn buyers off. Then you need to do everything you can to eliminate those turn-offs before even putting your home on the market for sale.
You will not get the price you want for your Vero Beach home if you don't get your home in move-in condition before the first potential buyer walks through the front door. Buyers today don't want "fixer-uppers" and properties that need a lot of work. They want a home that is ready to live in the day the movers unload the truck.
Don't Make These Mistakes When Selling Your Vero Beach Home
Overpricing Your Home – If you ignore your agent's advice and list your Vero Beach home at a higher price than recommended, you're going to get some negative feedback from buyers. The worst feedback, of course, is silence. That could include no showings and no offers.
The problem with overpricing your Vero Beach home is that the buyers who are qualified to buy your home won't even see it because they're shopping in a lower price range. The buyers who do it will quickly realize there are other homes in the same price range that offer more value.
Buyers are more savvy today, and they do their homework. So sellers, beware! Don't overprice your Vero Beach home!
Get Rid of Odors – Odors can come from a number of things – pets, lack of cleanliness, stale air, water damage, and more. You may not even notice it because you live with it and your nose may have become immune to it, but your real estate agent may have hinted to you that something needs to be done.
There is no buyer that will buy a Vero Beach home that smells bad unless they're investors looking for a bargain. Even so, they'll get a home inspection to find out the source of the odor. If they find anything like undisclosed water damage, or pet urine under the "new" carpet, then they will either severely discount their offer or walk away.
Find the source of any odors in your Vero Beach home and get rid of it before you put the "For Sale" sign in the yard!
Deferred Maintenance – This is a polite definition for "letting your home fall apart." With your Vero Beach home, things wear out, break and weather, and it's your job as a homeowner to keep your home repaired.
Buyers really want a Vero Beach home that's been well-maintained. They don't want to wonder what needs to be fixed next or how much it will cost. That just adds to their costs and they will in turn factor that in to the lower price they'll offer you for your home.
Clutter - In short, get rid of it! All of it! Box up your nick-knacks, photos, and other things that make it hard for a potential buyer to visualize themselves living in your home.
Too much furniture confuses the eye and makes it really hard for buyers to see the actual sizes of rooms. If they can't see what they need to know, they move on to the next Vero Beach home on their list.
Outdated Decor - The reason people are looking at your home instead of buying brand new is because of cost and location. They want your neighborhood, but that doesn't mean they want an outdated home. Just like they want a home in good repair, they want a home that looks updated, even if it's from a different era.
Harvest gold and avocado green from the seventies; soft blues and mauves from the eighties, jewel tones from the nineties, and onyx and pewter from the oughts are all colorways that can date your home. Textures like popcorn ceilings, shag or berber carpet, and flowered wallpaper can also date your home.
Summary - The Vero Beach home market is tough, and if you ignore these tips for selling your home, you're going to be in for a rude awakening when your Vero Beach home is not only not selling, but getting very few showings.
For more tips on selling your Vero Beach home, check out our other articles and information at the Vero Beach Home Selling Tips link to your right under Vero Beach Real Estate Categories.
It's pretty much a foregone conclusion that Vero Beach mortgage rates have already hit their all-time low when the benchmark 30-year fixed rate was 3.31 percent in November 2012.
Vero Beach home buyers won't see that level again. But the point the folks at Freddie Mac are making is this: Vero Beach mortgage rates right now remain historically low. Remember the 1980s and 18 percent?
Vero Beach mortgage rates have remained right at or below 4.5 percent for weeks now.
Vero Beach Mortgage Rates in Comparison
One thing seems certain: we aren't likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012.
Had a borrower purchased a home a year ago, he or she would be paying about $90 less in interest a month, or about $1,080 a year.
But Freddie Mac takes the long view for a better perspective.
During the 1970s, the average 30-year rate was 8.86 percent. That average surged to 12.7 percent in the gloomy real estate days of the 1980s.
The all-time record high occurred in October of 1981, hitting 18.63%. That's more than four times higher than today's average 30-year fixed rate of 4.51% as of last week.
So as you can see, Vero Beach mortgage rates today still make now one of the best times to buy a home in the last 40+ years.
Check out our other articles and news affecting Vero Beach mortgage rates by clicking on the Vero Beach Mortgage Info link to your right under Vero Beach Real Estate Categories.
Vero Beach home sales are beginning to look like the start of a perfect storm for real estate. A combination of frustrated buyers from a lack of inventory, and sellers starting to put their homes on the market may mean the spring selling season could poised for a surge… one for the record books.
Typically, the spring selling season (March through June) is when more than half of all homes in the U.S. are sold. The market is getting a later start than usual this spring due to the bad weather all over the country.
Vero Beach home sales declined in February to the lowest level since mid-2012, with the number of contracts signed with the intention of buying falling to the lowest level since 2011.
Applications for mortgages to purchase homes dropped in February to the lowest since 1995, according to an index from the Mortgage Bankers Association that is seasonally adjusted. By mid-March, the gauge regained about 12 percent from that low, while remaining about 17 percent below the level it was during the same week in 2013.
Nationwide, U.S. home prices rose 12.2 percent in February compared to February 2013, up slightly from January's year-over-year pace of 12 percent. The number of available homes remains below the level typical of a healthy market.
Vero Beach Home Sales May See Exaggerated Bounce
Fannie Mae and the Mortgage Bankers Association are predicting 2014 Vero Beach home sales to see a bit of an exaggerated seasonal bounce due to so many eager buyers wanting to purchase homes.
Lenders expect Vero Beach home sales to pick up because so many potential home buyers want to lock in a mortgage ahead of any possible uptick in mortgage rates.
Borrowing costs have risen as the Federal Reserve continues tapering stimulus efforts that have kept interest rates low. Policy makers cut monthly bond purchases to $55 billion this month, from $85 billion last year. Fed Chair Janet Yellen said the program could end this fall and that the benchmark interest rate, which has been close to zero since 2008, may rise six months after that.
Nationally, the supply of homes for sale is bigger than last year, according to the National Association of Realtors. At the current sales pace, it would take 5.2 months to sell the properties on the market in February, compared with 4.6 months a year earlier.
Vero Beach home sales are expected to pick up momentum as we head into the second half of April and into May and June. Watch for the housing market, like the rest of the economy, come to live in the next couple of months.
For more on Vero Beach home sales, including other news relating to Vero Beach real estate, visit our Vero Beach Real Estate News section of articles under our Vero Beach Real Estate Categories to the right.
Finally spring is here. Time to start working on getting your Vero Beach yard ready for the coming summer weather. It's always great to see green grass again when all you've been looking at all winter is dormant grass (unless you planted winter rye and have been seeing green all winter.)
With spring comes a greening of your Vero Beach yard and the hope and promise that there will be plenty of yard work for months to come.
Tips for Getting Your Vero Beach Yard Back in Shape
Stay off the grass. Wait for the ground to dry before walking on it to pick up branches and other debris. When it's wet, footprints can damage turf and give weeds a chance to take hold.
Keep an eye on that tree. Feeling a little iffy about that big old oak tree that's next to your house? A tree with a pronounced lean to one side signals a problem and so do unhealthy or off-color leaves, a branch without leaves in summer, or little bark. Most roots are within a foot from the surface, so any activities that affect the soil, such as a new driveway, often affect the roots. To learn whether your trees are at risk of failing, find a certified arborist at the site of the International Society of Arboriculture.
Sharpen those blades. Dull mower or tractor blades stress the grass, making it more prone to disease. Sharpen them and they'll cut cleaner and faster. Experts suggest having the blades sharpened and balanced three times during the growing season.
Test your soil. Why guess what your soil needs when you can spend as little as $10 for the experts at your local cooperative extension to test it and provide solutions. Some even come to your house. You'll find out if limestone is needed to raise the pH of acidic soil or sulphur for lowering the pH of alkaline soil. A complete test analyzes nutrients and offers a fix. You'll find your local extension here.
Find out which weeds are trouble. While you have your co-op extension expert on the phone, ask which weeds and pests your Vero Beach yard can tolerate. Dandelions may improve the soil structure, but if you're not wild about them, you might want to cut off their heads before they go to seed or use a special fork-like tool to pull them out, removing the entire root. Clover takes nitrogen from the air and nourishes the soil.
Just these 5 Vero Beach yard tips for spring can mean a big difference in the look of your lawn during the summer months.
These are just a few of the many ways to get your Vero Beach yard ready for summer. For more home improvement tips, visit our Vero Beach Home Improvements section under Vero Beach Real Estate Categories to your right for more articles and information.