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Chris Andries' Blog

By Chris Andries-The Andries Team | Agent in Rancho Palos Verdes,...
  • How Much It Will cost To Sell Your South Bay Home!

    Posted Under: General Area in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes, Property Q&A in Rancho Palos Verdes  |  June 18, 2014 3:24 PM  |  76 views  |  No comments

    HOW MUCH WILL IT COST TO SELL MY HOUSE?

    Contrary to popular belief, not all home owners smile all the way to the bank after selling their homes. In most cases, the actual return doesn't match the expected return. This can be attributed to the numerous costs of selling a home that are usually overlooked or unforeseen. These costs can easily consume a significant percentage of your anticipated profits forcing you to look for funds elsewhere to undertake future projects/investments. To avoid such instances, you must be fully aware of all the costs incurred when selling a home. If you are interested in discovering such information, look no further. Below are some of the main costs you should expect to incur when you sell your home. 

    Expenses Incurred When Selling A House

    1. Repair/upgrade costs: These are by far the most important costs to consider when selling a home. Although most home owners anticipate repair costs before selling their homes, they don’t consider the fact that the costs can easily get out of hand if they aren't monitored closely. Some of the most common repair/upgrade costs incurred before a house is sold include; painting, remodeling/fix-up, house washing and landscaping costs. 

    These costs are inevitable because they improve the appearance of your house significantly which in turn increases the value. Repair/upgrade costs can range from a few hundred dollars to thousands or millions depending on factors such as the size of the house, extent of damage, type of upgrades, location etc.

    2. Staging costs: This is one of the most commonly overlooked expenses by home sellers. Although it’s not a must to hire a professional staging company when selling your home, it is advisable to do so to make your home look perfect. Home staging companies are better versions of interior designers since they are highly experienced and knowledgeable in making homes appeal to potential home buyers. 

    A home staging company will use their own furniture to make your home look perfect. According to numerous research studies, staged homes fetch more money. The importance of staging can’t therefore be overlooked. In regards to costs, a professional home staging company will charge a few thousand dollars or less if they consider using some of your furniture/decor. 

    3. Pre-inspection costs: In most cases, you will be required to hire a professional to inspect your house for pest damage among other structural issues. Such costs are necessary since they prove to potential buyers that you are selling a structurally sound house. Pre-inspection costs range from $200 upwards depending on the kind and number of inspections done. 

    4. Lighting and heating costs: Contrary to popular belief, vacant houses usually incur lighting and heating costs. Such costs are inevitable since you can’t showcase a cold or dark house. You should expect to pay similar or slightly higher utility bills if you want to make your home perfectly habitable when showcasing it to potential buyers. 

    5. Extra homeowners insurance cost: It is important to note that most homeowners’ insurance doesn't cover vacant homes. Many home sellers are therefore forced to purchase extra homeowners insurance for the entire vacancy period. Since most homes take a few months to sell, you may be forced to incur this extra cost which is typically a few hundred dollars or more if your house is above average with expensive fittings, decor etc.

    Home Sellers Usually Pay Closing Costs

    6. Real estate agent fees/commissions: To be able to sell your home fast and professionally, you will be required to hire a real estate agent. Most agents demand a 5 – 6% commission. It is important to note that this figure can vary downwards or upwards depending on many factors. Either way, real estate agent fees can take a sizable chunk out of your net profit. 

    7. Transfer tax: Depending on where you live, you may be required to pay transfer tax when you sell your home. Transfer tax is usually charged on the selling price. The tax is usually less than 1%. 

    8. Home warranty for buyers: In some cases, home buyers may request for a home warranty to cover potential repairs to home appliances, systems etc. during the 1st year of ownership. Although it’s not a must to sell your home with a warranty, you get more buyers and a better price because of the assurance that comes with buying your home. Typical home warranty costs approximately $500.

    9. Capital gains tax: You may also be required to pay capital gains tax if your house exceeds a certain price i.e. $500,000. Although it is possible to avoid capital gains tax through a number of tactics i.e. subtracting costs of selling your house, filling joint ownership etc, you are better off factoring this cost for obvious reasons. 

    10. Moving costs: This is another common expense overlooked by many home sellers. Before you sell your home, you need to move your belongings to your new home. These costs shouldn't be overlooked when you want to calculate the actual profits made when you sell your house.  

    The costs mentioned above are the most important to consider when selling your home. Although there may be some other additional costs that aren't discussed above, the above costs are adequate enough to help you calculate the true cost of selling a home. 

    If you are thinking of selling your home please give us a call.  If you would like to know how much your home is worth visit our website at www.HomeValueSouthBay.com

    Serving San Pedro, Rancho Palos Verdes, Rolling Hills Estates, Torrance, Lomita, Long Beach and Redondo Beach.

    The Andries Team of Keller Williams Realty
    Chris & Amy Andries, Realtor's
    Chris (310) 507-3995
    Amy (310) 346-2986
    www.TheAndriesTeam.com
    www.TheAndriesTeam@gmail.com
    BRE # 01728723

  • Five Biggest Turnoffs For Homebuyers!

    Posted Under: General Area in Rancho Palos Verdes, Home Buying in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes  |  June 18, 2014 3:13 PM  |  78 views  |  No comments

    THE FIVE BIGGEST TURN-OFFS FOR HOMEBUYERS


    A lot of sellers don't listen to their real estate agents, so we'll tell you what your agent wants to say, but can't say to you and this is it - your agent can't get you the price you want unless your home is in pristine move-in condition.

    That means no sticking drawers in the kitchen. No leaning fences. No rust-stained plumbing fixtures. We could go on, but maybe we need to make it clear. If you have even one of following "turn-offs," your home won't sell.

    Buyers can get instantly turned off. Here are their five biggest turn-offs:

    1. Overpricing for the market

    2. Smells

    3. Clutter

    4. Deferred maintenance

    5. Dark, dated décor

    Overpricing your home

    Overpricing your home is like trying to crash the country club without a membership. You'll be found out and escorted out.

    If you ignored your agent's advice and listed 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 home is that the buyers who are qualified to buy your home won't see it because they're shopping in a lower price range. The buyers who do it will quickly realize that there are other homes in the same price range that offer more value.

    Smells

    Smells can come from a number of sources - pets, lack of cleanliness, stale air, water damage, and much more. You may not even notice it, but your real estate agent may have hinted to you that something needs to be done.

    There's not a buyer in the world that will buy a home that smells unless they're investors looking for a bargain. Even so, they'll get a forensic inspection to find out the source of the smells. 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.

    Clutter

    If your tables are full to the edges with photos, figurines, mail, and drinking glasses, buyers' attention is going to more focused on running the gauntlet of your living room without breaking any Hummels than in considering your home for purchase.

    Too much furniture confuses the eye - it makes it really difficult for buyers to see the proportions of rooms. If they can't see what they need to know, they move on to the next home.

    Deferred maintenance

    Deferred maintenance is a polite euphemism for letting your home fall apart. Just like people age due to the effects of the sun, wind and gravity, so do structures like your home. Things wear out, break and weather, and it's your job as a homeowner to keep your home repaired.

    Your buyers really want a home that's been well-maintained. They don't want to wonder what needs to fixed next or how much it will cost.

    Dated décor

    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 a dated-looking 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 flocked wallpaper can also date your home.

    When you're behind the times, buyers don't want to join you. They want to be perceived as savvy and cool.

    In conclusion, the market is a brutal mirror. if you're guilty of not putting money into your home because you believe it's an investment that others should pay you to profit, you're in for a rude awakening. You'll be stuck with an asset that isn't selling.

    If you or someone you know is thinking of selling their South Bay home please give us a call.

    Chris & Amy Andries
    The Andries Team of Keller Williams Realty
    Chris (310) 507-3995
    TheAndriesTeam@gmail.com
    www.TheAndriesTeam.com
    BRE #01728723

  • MAY-2014 Real Estate Newsletter

    Posted Under: General Area in Rancho Palos Verdes, Home Buying in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes  |  May 29, 2014 8:41 AM  |  131 views  |  No comments
    Click here to read our monthly newsletter. ----> http://theandriesteam.housingtrendsenewsletter.com
  • What Is Your Rancho Palos Verdes Home Worth?

    Posted Under: General Area in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes, In My Neighborhood in Rancho Palos Verdes  |  May 9, 2014 11:45 AM  |  197 views  |  No comments
    Thinking of selling your Rancho Palos Verdes Home?  Find out the REAL Value of your home for FREE.  Receive a FREE Home Evaluation by clicking here ----> RanchoPalosHomeValues
  • Free Home Evaluation! What Is Your Property Worth?

    Posted Under: General Area in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes, In My Neighborhood in Rancho Palos Verdes  |  January 26, 2014 9:46 AM  |  427 views  |  No comments




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  • Great New QR Mobile App For Home Searching

    Posted Under: General Area in Rancho Palos Verdes, Home Buying in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes  |  August 9, 2013 7:44 AM  |  514 views  |  No comments

    Change the way you search for properties.  Get the latest information on homes for sale.  Go to  http://app.kw.com/KW2EK7JH5. The Best Home Search Availalbe to search for your next home. Better than Trulia and Zillow.  http://app.kw.com/KW2EK7JH5
  • Thinking about selling your home? Find out what it’s worth here for FREE!

    Posted Under: General Area in Rancho Palos Verdes, Home Selling in Rancho Palos Verdes, In My Neighborhood in Rancho Palos Verdes  |  August 5, 2013 10:23 AM  |  412 views  |  No comments

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