You’ve heard that it’s a “buyers market” so how you “stage” your home could make the difference in your sale!  

After many years selling and marketing homes, the most interesting dynamic I have found in working with home sellers, is that very few are willing to do anything to the home they are selling in order to achieve top dollar for the property.   

This seems so strange to me because when you think about it, if you were selling your car, you would typically vacuum, wash, and wax it.  You may even take it to the local garage for a quick tune it up, change the oil, or clean the engine. You do this in order to get the highest price when you sell the car.  A home may be the owner’s most valuable asset and certainly more valuable than an automobile, yet most homeowners do not want to take the time and effort to maximize the return on their investment. A real estate trainer once told me that a gallon of paint may cost twenty-five dollars, but when applied correctly, it is worth $2,500 in the price of the home.

Over the years, we have worked with many investors who would fix and flip properties. Basically, they would buy a home that was outdated, spray the interior white, put in cheap wall-to-wall carpeting, replace some light fixtures, and maybe replace or reface the kitchen cabinets, and they would earn a return on their investment ranging from 10% to 50%.

As a home seller, you may also be competing directly against new construction. Many builders of new homes understand that buyers purchase what looks pretty, while sellers of previously built homes may say, “They don’t build homes like mine anymore. New construction is junk. I have real plaster walls!” Unfortunately, very few buyers understand quality, and very few buyers want to do any work on a property they buy.   This is certainly true in today’s market!  Why would a buyer say yes to your home that needs work, when there’s a similar home “ready to go”?  

Price is certainly important, but how your home looks is the key to catching the buyer’s eye and then his/her heart.  The first view the buyer sees is the “curb appeal”.   I had one buyer whose home was intentionally hidden by huge trees in the front to obscure the home from the road. While this accomplished the owner’s goal of having privacy and seclusion from curious eyes, it did not fit with most buyers’ desire to have sharp curb appeal.

In addition, walking into the home felt like walking back in time. Although this was an extremely well-constructed home, it was built in 1967, and the decorating was original. While buyers will overlook some things and are usually willing to do some redecorating to their tastes—in terms of the paint color on the walls or the color of the carpets—almost no buyer will purchase a home he or she feels needs to be completely remodeled unless he or she gets a true premium on the price and you don’t want to give it away at that price!

Upon first entering the home, a potential buyer would walk into an enormous living room with narrow yellow pine floors and white walls—a very 1970s look. To further exacerbate the problem, the front door was at the far corner of the living room, and the ceilings in the room were lower than normal—under eight feet. The room appeared awkward and rather than giving the appearance of a spacious living room, it appeared to be a long, empty room.

Entering the kitchen, buyers found green oak cabinets that were probably very expensive in the 1970s. However, thirty years later, this was probably where the seller was losing most of the buyers. This is where they gasped “oh my”.  Every buyer who came through the house would say there is too much work to be done because the first two rooms they looked at both needed updates.

This was really a great home with spacious bedrooms, a walk-out lower level, a beautiful private backyard, and plenty of closet space. Unfortunately, the initial impression the potential buyers had entering the home negatively impacted their view of the rest of the property.  They missed all the great features of the home because of the first two rooms!

We solved the problem for less than $450 and sold the home in just a few weeks for the asking price!  HOW?

First, in order to change the initial impression buyers had when walking into the home; we had the owner place a large colored area rug—a simple inexpensive carpet remnant—in the middle of the living room, leaving hardwood exposed around the edge, yet updating the colors. Then, we had the owner paint the white walls with a neutral beige color and it made a big difference in the appearance of the room.   The room “felt warm” according to many buyers. 

The final touches in the living room were accomplished by simply making furniture rearrangements. When I had first viewed the home, I did not realize that there was a pair of windows directly across from the front door. These windows looked out over the backyard, a highlight of the property. The owner, however, had chosen to place large furniture in front of the windows, obscuring them from the view of potential buyers. By removing the furniture, a buyer entering the home immediately looked across the room at the expanse of yard behind the home.

Other changes we made included asking the owner to remove and cut back some of the trees in front of the house and to place flowers and add some color in the kitchen. A new tablecloth with bright colors helped to complement the green cabinets. Matching hand towels were hung from two cabinets. Bright flowers and table settings helped the buyers’ eyes to focus in a different direction than directly at the cabinets, and they brightened the room. The last addition was some decorative towels in the bathrooms. A few hours of work and a few hundred dollars probably and this seller saved thousands!  

Let us help you do the same!  

Contact the Carpenter Group to Get your Home Sold!

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Yule Sales Rule!

Some agents may be winding down for the holidays - but this is one of my busiest times of the year. Year after year. Why? Maybe it’s because I love to zig when other agents zag.

In my experience, most agents tell their clients to take their homes off the market during the holidays and put them back on again in the spring. To that I offer a hearty “Ho, Ho, Hogwash!” The biggest problem most home sellers have had this year is too much competition. (Translation: At least 10 Homes for every 1 Shopper). But thanks to the terrible advice offered above, we often see home inventory drop about 30% between October and February. This alone dramatically increases the chance that a home on the market will be seen - and sell! A house that’s been decorated for the holidays also adds a homey glow that helps buyers imagine themselves celebrating in front of the hearth. Add in the fact that January and February are the biggest months for corporate relocations and you have a holiday recipe for success.

So, let’s review: Inventory down 30% or more, a fresh pool of New Year buyers, and limited time to buy, close and get settled. Put it all together and it’s easy to see why I don’t look forward to the holidays as a time to rest and relax. I look at it as a time to rack up sales, jump start the new year and kick some holiday selling myths to the curb! I love starting the New Year with new listings & new sales.   

See what homes we have available!

Contact the Carpenter Group for expert help in selling your home. 

See What is my Home Worth? 

The following energy-saving tips are very simple to follow and will reduce your heating energy cost:

• DROP A DEGREE. For every degree you reduce your thermostat setting you may save about 3% on your heating bill.
• SET THE THERMOSTAT BACK. At night, and when leaving your home unoccupied for a long period of time, set the thermostat back. Note: This suggestion may not be advisable if you have a heat pump system.
• DON’T BLOCK REGISTERS OR RADIATORS. Keep rugs, furniture or drapes clear of heat registers or radiators.
• DON’T FULLY HEAT UNUSED ROOMS. Close registers or turn off radiators in rooms not being used, and close the doors.  Remember though – water freezes and could break pipes, so never let a room get below freezing!!
• CLOSE and CHECK YOUR EXTERIOR DOORS. Keep all exterior doors as well as those to all unheated areas, such as the garage, attic and basement, tightly closed and make sure they seal properly.  Doors out of alignment or missing weather strips can leave large gaps and great spaces for cold air to get in!!
• USE “SIMPLE” SOLAR ENERGY. Open blinds or drapes on the sunny side of the house to let the sun’s rays in to help warm the house. At night or on cloudy days, close the draperies to prevent heat loss.
• KEEP YOUR WARM AIR HEATING SYSTEM CLEAN. Clean or replace dirty filters that restrict air flow through your furnace.
• INSULATE YOUR HOUSE WHERE IT IS NEEDED. Proper insulation is probably the biggest factor in saving on your heating costs.  Be sure your insulation is at the minimal depth currently recommended amount for your area an you may see big drops in your heating bill!
• WEATHERSTRIP AND CAULK AROUND WINDOWS AND DOORS. Sealing gaps in exterior walls will reduce cold drafts and keep warm air in. It is one of the least expensive ways to save energy.
• SEAL AGAINST AIR LEAKAGE TO THE ATTIC. Don’t forget to insulate and weatherstrip all attic access doors. Even small cracks around attic entrances can result in substantial heat loss.

Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. Many local energy companies will do efficiency audits for free or at a nominal charge.  Engage their expertise to help you save $$!

Yes it gets cold in Plymouth, MN - BUT…. It’s still the best city to live!

Maybe it’s time to move into a more energy efficent home?

See what homes we have available in Plymouth!

Contact the Carpenter Group for expert help in finding your next home. 

Wonderful updated home with huge master BR addition! 2BR’s w/private baths, 3 FP’s, great private yard.   Huge bonus room not included in square footage to be finished as you like.   New roof and siding.  Hot tub on the deck!  Don’t miss this opportunity-lots of hardwood floors and special features.

See what other homes we have available!

Contact the Carpenter Group for expert help in finding your next home. 

Perfect executive, one level townhome.  Just imagine peaceful surroundings, pond & wetlands, wildlife, protected views and wonderful neighbors as you enjoy this exceptional property.  Updated kitchen, new hardwood floors, and many other upgrades!  3400+ finsihed square feet.  Excellent association!  Top rated Wayzata schools!  This home is move in ready today!

See what other homes we have available!

Contact the Carpenter Group for expert help in finding your next home. 

Remodeling and Investing in your Home

Remodeling magazine’s annual report shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.

Despite home price drops in many cities, remodeling projects are holding their own as a way for owners to add value.  Given this news, it’s still a great time to purchase a bank owned home, complete a remodeling project and really increase your investment value! 

Many people are wondering where their money will be safest during these uncertain economic times. Regardless of the times, investing in your home still pays off.

NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.

Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.

High rates of recovery were seen in both strong real estate markets and weak ones. 

Top 10 Project Paybacks 

As usual, exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.

1. Upscale fiber cement siding (86.7%)

2. Midrange wood deck (81.8%)

3. Midrange vinyl siding (80.7%)

4. Upscale foam-backed vinyl (80.4%)

5. Midrange minor kitchen remodel (79.5%) 

6. Upscale vinyl window replacement (79.2%)

7. Midrange wood window replacement (77.7%)

8. Midrange vinyl window replacement (77.2%)

9. Upscale wood window replacement (76.5%

10. Midrange major kitchen remodel (76.0%

So invest in a home and your future today – prices will never be better!

Let us help you find a home in the best city to live - Plymouth, Minnesota!  Contact The Carpenter Group

See “What is my Home worth?“  to see if it’s time to take advantage of this market.

See Homes Currently available in Plymouth and surrounding areas. 

Minnesota law has made it mandatory for all single family homes in Minnesota to have a carbon monoxide (CO) detector located within 10 feet of each bedroom.  To help familes comply with this new law and stay safe, the Plymouth Fire Department has partnered with the Minnesota Safety Council to seel the Nighthawk Carbon Monoxide Dector from Kidde for only $32 (Suggested retail is $75).  The Nighthawk has consistenly been ranked number one by Consumer Reports.  See the City of Plymouth website for Ordering Information.    Helping residents is one of the many reasons plymouth was ranked as the Best City to Live! 

We can help you find a home in this great area!  Contact us - The Carpenter Group 

Find out more about Plymouth and the Surrounding areas we serve!

See the homes we have for sale in Plymouth and the surrounding areas

Find out “what is my home worth” and join us in the best city to live!

Home sales in the Twin Cities housing market continue to post healthy increases over last year, but behind the totals for September.  For the week ending October 18, there were 618 pending sales.  This is an increase of 9.6 percent over the same week last year and the 16th consecutive week of year-over-year upward movement. Foreclosures and short sales continue to be a large portion of these sales.

New listings for the same time period comparison were 18.1 percent lower, which represents the 30th week of the last 33 to have downward movement in new listing supply. The total inventory of homes for sale sits at 30,343, which is about 3,000 less than at this same time in 2007. Inventory should continue to fall through the remainder of the year but won’t fall as far as previous years given the higher number of foreclosures and short sales, which tend to stay on the market irregardless of snow depth and subzero temperatures.

In summary, there are still some great deals out there, so now is the time to take advantage of them! 

Contact us to help you find your next home - The Carpenter Group

Find out more information on the areas we serve - Community Information

The First-Time Buyer Tax Credit – 6 Important Facts

The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is one of many reasons you should be come a homeowner in today’s real estate market. 

When you combine the tax credit with today’s low interest rates, wide selection of for-sale inventory, and affordable home prices, there are no excuses not to take advantage now!

Here are 6 key things you should know: 

1. You have until July 2009 to make a purchase that qualifies. 

The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if you wait to buy in the first half of 2009 you can take the credit on your 2009 tax return. Taxpayers can take the credit on their 2008 tax return if you bought your house this year after April 9.

2. You don’t really have to be a “first-timer.”

The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years. And the NATIONAL ASSOCIATION OF REALTORS®  (NAR) has asked Congress to expand the credit to all buyers, not just those who haven’t owned a primary residence in recent years.

3. Even if buyers exceed the income limit, they can benefit from the credit. 

The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if you make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don’t make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.

4. Think of it as an interest-free loan.  

The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable. NAR is pushing congress to remove the repayment provision, making this tax credit a true tax credit rather than an interest-free loan. 

5.  You don’t have to be authorized before making a home purchase. 

There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise. 

6. New-home construction qualifies. 

For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home. Remember, it must be your primary residence, vacation homes or income properties do not qualify.

The National Association of Realtors® is Asking Congress to Expand the Credit  

As mentioned above, NAR has asked Congress to do away with the repayment provision of the first-time buyer tax credit and expand the credit to all home buyers, not just first-timers. The proposals were part of a four-point housing stimulus plan the association submitted in mid-October.  

 “Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible,” said NAR President Richard F. Gaylord. “It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans.

See Homes for sale in Plymouth

Contact the Top Realtor in Plymouth to find your new Home - The Carpenter Group