Bo Lee - Coldwell Banker Residential Brokerage

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Posted by Bo Lee on 1/17/2021

The home selling journey offers no guarantees. Thus, if you fail to prepare to sell your house, you risk encountering problems that may make it tough for you to maximize your home sale earnings.

Ultimately, there are many things you can do to avoid a complex house selling journey. These include:

1. Price Your Home Competitively

The initial asking price for your home may dictate your house selling success. If you set an aggressive initial asking price for your residence, you may be better equipped than other sellers to enjoy a seamless house selling experience.

Oftentimes, it helps to review the housing market in your city or town. If you evaluate the prices of available houses in your area that are similar to your own, for instance, you may be able to determine a price range for your house.

You also may want to conduct an appraisal before you list your residence. An appraisal enables you to obtain a property valuation that could help you set a competitive initial asking price for your home.

2. Upgrade Your Home's Curb Appeal

How your home looks to buyers may have far-flung effects on the house selling journey. If your residence boasts amazing curb appeal, you could accelerate the home selling journey and boost the likelihood of getting the best price for your residence.

To bolster your home's curb appeal, it generally is a good idea to mow the lawn, fix any damaged siding and perform other house exterior upgrades. Of course, if you need help with home exterior enhancements, you can always reach out to local house improvement professionals for assistance.

3. Work with a Real Estate Agent

A real estate agent knows what it takes to promote a home to the right groups of buyers, along with ensure a seller can optimize his or her property sale earnings. Plus, a real estate agent takes the guesswork out of navigating each stage of the house selling journey.

Let's not forget about the home selling guidance a real estate agent can provide, either. If you are uncertain about how to price your house, for instance, a real estate agent can offer a data-driven recommendation. Or, if you are searching for quick, easy ways to enhance your home's curb appeal, a real estate agent is happy to provide you with home exterior improvement tips.

In addition, a real estate agent is an expert housing market resource. He or she is prepared to respond to your home selling concerns and questions at any time. And if you are worried at any point during the home selling journey, a real estate agent will work with you to alleviate stress, too.

Navigating the home selling journey can be difficult, regardless of whether you are an experienced or first-time house seller. Thanks to the aforementioned tips, you can streamline the home selling journey. Perhaps best of all, these tips could make it easy for you to enjoy a fast, profitable home selling experience.





Posted by Bo Lee on 1/10/2021

Let's face it – no condo seller wants to deal with a high-pressure negotiation. Lucky for you, we're here to help you streamline the process of selling your condo so you can avoid stressful negotiations with property buyers.

What does it take to remain calm, cool and collected during a negotiation with a condo buyer? Here are three tips that every condo seller needs to know.

1. Consider the Condo Buyer's Perspective

As an informed condo seller, it is important to consider both sides of a negotiation. By doing so, you can evaluate a condo buyer's perspective and plan your next move accordingly.

For condo sellers, the goal is to get the best price for a property. As such, a condo seller who performs extensive housing market research probably understands the true value of his or her residence.

On the other hand, a condo buyer is likely to conduct real estate market research on his or her own. This property buyer also will assess the current condition of a condo in relation to his or her budget and submit an offer that accounts for these factors.

Ultimately, a condo seller and buyer should try to find common ground. That way, both parties can work together to get the best results out of a negotiation.

2. Review All of Your Options

After a condo seller accepts a buyer's proposal, the next step likely involves a property inspection. At this point, a condo acquisition may move forward, or a condo seller might need to rethink his or her plan.

If a condo inspector discovers myriad problems with a property, a condo buyer may ask the seller to complete repairs or lower the price of the property. Meanwhile, a condo seller will need to review all of his or her options quickly.

Following a condo inspection, it is important to consider the results of the evaluation.

If a condo seller discovers major repairs are required, he or she should consider completing the repairs or lowering the price on a property.

Or, if a condo buyer asks for a major price reduction even though only minimal repairs are needed, a seller should be unafraid to say "No" to the buyer's requests.

It is important for a condo seller to feel comfortable with any decision that is made throughout the property selling cycle. Thus, if a condo seller is uncomfortable with completing property repairs or reducing the price of a residence after a property inspection, he or she should be ready to decline a buyer's demands.

3. Consult with a Real Estate Agent

A real estate agent will handle negotiations between a condo seller and buyer. Therefore, this housing market professional can play a pivotal role in a seller's ability to get the best price for a condo.

Consulting with a real estate agent who possesses condo experience is key. This real estate agent can keep you up to date during negotiations with condo buyers and ensure you are fully satisfied with the final results.

Take advantage of the aforementioned tips, and you can move one step closer to maximizing the value of your condo.





Posted by Bo Lee on 12/27/2020

When you put your home up for sale, it can be an emotional time. You need to say goodbye to a place where you have lived for at least a small portion of your life. You created memories in that home, and now, it’s the job of a new family to make new memories. 


Once the home is well on its way to being sold, there will be an appraisal of the property. It’s scary as a seller to think that the appraisal has the ability to actually halt the entire sale of the home. It can be a confusing process, to say the least, to have your home appraised. You have determined your listing price and received an offer on the home already. It seems like backtracking to value the home after this part of the sale process is complete. 


The Appraisal Removes The Tension


The appraisal is one of the factors that bridges the worlds of the buyer and the seller. As a seller, the things that you think add value to your home may not be all you have hoped them to be. As a buyer, you want to be sure that you’re paying a fair price for the home. Below, you’ll find some common myths about home appraisals and the truth about them. 


The Appraisal Is Not The Same As An Inspection


The home inspection is used as a tool to protect the buyer. Although the appraisal is used as a protection for the buyer, the two are separate entities. The inspector looks at everything in the home that can be a problem including leaks, cracks, and faulty electrical systems. The home appraiser is simply meant to find the objective market and the estimated value of the home in that market.


The Appraisal Isn’t How Much The Buyer Will Pay


While the appraisal gives a good estimate of the value of a home, it doesn’t take every single factor into account. It’s one version of how much the home should be priced at. What the appraisal does affect is the contract on the home. 


If the appraisal doesn’t match the contract price, let’s say that the home is appraised lower than what you’re paying for it, the lender will not make up the difference. It can become a discussion between the buyer and the seller to see who will pay for the additional uncovered cost of the home. The buyer can pay the difference themselves. The seller may decide to cover the difference themselves. Either way, this is where the home buying process can get kind of messy.


Bigger Homes Don’t Necessarily Appraise For More Money


Just because a home is bigger, doesn’t mean that it’s worth more than the smaller home next door. A larger home could have issues with age such as an older roof, or less complex fixtures. If a smaller home is more updated, it very well could appraise for more. Don’t count on the square footage to dictate the appraisal price of a home.




Tags: Buying a home   appraisal  
Categories: Selling Your Home   home value  


Posted by Bo Lee on 11/29/2020

After you receive an offer to buy your house, you likely will have only a short period of time to determine whether to accept this proposal. As such, pressure can add up quickly, which often can make it tough to make the best-possible decision.

Fortunately, we're here to help you analyze your options and determine how to proceed with a homebuying proposal.

Let's take a look at three steps that every home seller should take after receiving a homebuying offer.

1. Weigh the Pros and Cons

Make a pros and cons list to examine a homebuying proposal – you'll be glad you did. With this list, you can assess the advantages and disadvantages of accepting a homebuying offer and proceed accordingly.

If you accept an offer, you can move forward in the home selling process. On the other hand, if you don't feel that an offer matches your expectations, there may be no reason to accept this proposal.

2. Evaluate Your Home Selling Goals

Consider your home selling goals as you evaluate an offer to buy your house. By doing so, you can determine whether an offer falls in line with your goals.

For example, if your goal is to sell your house as quickly as possible, the amount of the offer may not matter. In this scenario, you may want to accept a homebuying proposal to accelerate the home selling process.

Comparatively, if your goal is to maximize your profits, you will need to determine if a current offer is the best proposal that you could receive. If the answer is "Yes," then you may want to proceed with a home sale. Or, if the answer is "No," you may want to reject or counter a buyer's proposal.

3. Consult with a Real Estate Agent

Let's face it – evaluating a homebuying proposal can be difficult, particularly for a first-time home seller. If you consult with a real estate agent, however, you can get the help you need to make an informed decision about an offer.

A real estate agent can offer lots of housing market data to help you understand the current value of your house. Plus, this housing market professional can provide recommendations about whether to accept, reject or counter a homebuying proposal.

Perhaps best of all, a real estate agent will serve as a guide throughout the home selling journey. He or she can keep you up to date about any offers on your house, perform deep analysis of all homebuying proposals and ensure you can determine the best course of action on any offer, at any time.

Let's not forget about the housing market expertise that a real estate agent possesses, either. A real estate agent understands there is no such thing as a "bad" question. Thus, a real estate agent will respond to any home selling queries that you may have.

Take the guesswork out of assessing a homebuying proposal – use the aforementioned steps, and you can determine whether to accept an offer on your house.





Posted by Bo Lee on 10/25/2020

As a home seller, it is crucial to do everything possible to get your residence "buyer-ready." In fact, if your house dazzles a buyer, you may be better equipped than ever before to optimize your home sale earnings.

Ultimately, it can be quick and easy to get a house buyer-ready – here are three tips to help you prepare your residence for prospective buyers:

1. Bolster Your House's Curb Appeal

When a potential buyer goes past your home, you'll want your residence to make a great first impression. And if your residence has outstanding curb appeal, a prospective buyer may choose to set up a property showing right away.

To improve your house's curb appeal, you should mow the front lawn, trim the hedges and do whatever it takes to make your residence attractive to potential buyers. Of course, if you need extra help to bolster your home's curb appeal, you may want to employ professional contractors as well.

2. Remove Clutter

Antiques, paintings and other décor may help you transform your house into a home. However, these items may do more harm than good when you try to show your residence to prospective buyers. And in some instances, various personal belongings may make it tough for you to show off the true size and beauty of your residence.

It generally is a good idea to remove as much clutter as you can from your residence. Remember, your goal as a home seller is to make it simple for a buyer to envision what life may be like if he or she purchases your house. If you eliminate clutter from your residence, a buyer should have no trouble imagining what life may be like as the owner of your home.

3. Clean Each Room of Your Home

A neat, tidy home is sure to impress prospective buyers. Thus, if you allocate time and resources to clean each room of your house, you could boost the likelihood of a fast, profitable home sale.

Oftentimes, it helps to hire a professional home cleaning company. With this company at your disposal, you can get the help you need to improve the appearance of each room of your home.

As you get ready to add your house to the real estate market, you also may want to hire a real estate agent. This housing market professional is happy to help you get your house buyer-ready, as well as prepare for each stage of the property selling cycle.

A real estate agent will offer expert guidance throughout the home selling journey. He or she will provide recommendations and tips to help you showcase your residence to the right groups of prospective buyers. In addition, if you ever have concerns or questions during the home selling journey, a real estate agent is ready to address them.

Get your house buyer-ready – use the aforementioned tips, and you can improve your home's appearance and increase your chances of enjoying a seamless property selling experience.







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