Selling a Home That Needs Repairs

When homeowners meet with The Boehmer Team about listing a St. Louis or St. Charles County, Missouri home for sale, they want to know what needs to be done to best prepare their home for market. Homeowners particularly want to know what they must fix, repair or update to sell a home for the most value versus the effect of holding off on any repairs. The answer depends on how fast the homeowners need to sell, how much budget they have for repairs, and how much they are hoping to net from the sale. Here we’ll explain three ways that homeowners handle selling a home that needs some repairs. 

Selling A Home Without Repairs At A Discount

Homeowners needing to sell a home quickly without investing any time or money into the home may decide to skip repairs and sell their home at a discounted price. Why the discount? In order for a home listed for sale that is in need of repairs to compete with other similar homes for sale in the area, the home must be priced at a discount compared to the price of the other homes. Otherwise buyers will simply buy the other homes and the home in need of repairs will linger on the market.

In addition to a lower sale price, homes in need of repair are often referred to as “as is” listings. When a home is listed “as is” it alerts potential buyers that there will be no negotiating for home repairs during the sale process and that what they see is what they get for the price the home is listed. This eliminates confusion and even entices investors and handy homebuyers who are looking for a good deal on a home. But it also could mean that the home takes longer to sell while waiting for the perfect handyman buyer unless it is deeply discounted compared to the competition.

Selling With Some Repairs Negotiated During The Home Sale Process

Homeowners that want to net more money from their home sale that have a little time and money to make some repairs to their home have the option to make some repairs and negotiate additional fixes during the home sale negotiation process. In this case we recommend making any fixes that would affect a homebuyer’s ability to gain an occupancy permit for the home.  Items needed for occupancy include working plumbing, heating, electrical and sound structure among others.

For example, does the home need a new roof but there isn’t enough money to replace it? The price of a new roof could be negotiated in the sale process by offering to lower the final sale price to accommodate for the price of a new roof. This type of negotiating could be done for almost any major repair. But homeowners need to keep in mind that homebuyers will usually choose to purchase a home that needs less of their time and effort to move into. 

Also, some loans, like VA loans for veterans, will not cover the purchase of a home where the roof doesn’t meet certain requirements. Loan requirements, time commitments for repairs, and the amount of savings a homebuyer has to make immediate repairs on a home purchase could diminish the pool of potential homebuyers for a home that needs a major repair.

Selling For Most Value With All Repairs Completed

Homeowners wanting to net the most value from their home sale will want to make their home for sale the best option for any buyer looking in their area by completing all repairs to their home before listing the home for sale. Homebuyers love move-in ready homes that don’t need any additional repairs and are willing to pay premium prices for the quality and convenience. 

Really want to make your home for sale stand out? In addition to making sure all repairs are made to the home, implement home staging to make the home’s best features stand out and to make it most appealing to buyers when compared to other homes. Home staging could include landscaping maintenance, deep cleaning, new paint, removing clutter, removing or changing window treatments, removing extra furniture, or updating fixtures. For more information on staging a home for sale check out our article Advice From Award Winning Home Stagers.

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If you are considering selling a home in the St. Louis or St. Charles County area of Missouri, contact The Boehmer Team to setup an interview. We can give expert advice as to what you can do to make the most from your home sale. We have a list of trusted contractors and repairmen that we can recommend to help with any home repairs. Are you also buying a new home in addition to selling your current one? Our experienced buyers’ agents are truly effective at helping homebuyers navigate the current market conditions. Learn more about us at www.TheBoehmerTeam.com.

The Benefits of Selling Your Home in the Fall

Did you know that fall is a great time to list your home for sale in the St. Louis real estate market? Our region has four distinct seasons and the weather is a huge help for getting folks out of their homes and in front of yours. But the weather isn’t the only reason.

In the fall families have returned from their summer vacations. The kids are back in school and on a normal routine again. This creates windows of opportunity for parents to search for homes.

Demand is still strong for homes in the current St. Louis and St. Charles County real estate market. There are more buyers looking for a home to buy than homes on the market. This also makes the fall market in St. Louis a sellers market.

There is less competition in the fall real estate marketplace. While many are sitting around waiting for spring to come again to list their home for sale, a wonderful opportunity exists now. With fewer homes for sale, there is less competition, and more eyes on your listing.

Serious buyers come out in the non-summer months. Homebuyers looking in the fall and winter months aren’t messing around. These buyers need a home, no matter the season and are ready to purchase. This means that you’ll have less people who are “just looking” and more that are interested in buying.

Interest rates are still very low. According to Freddie Mac, average mortgage rates for a 30-year mortgage are only 3.5 percent.  With the knowledge that they could go up in the near future, those thinking of buying a home have an urgency to buy before the hike.

Also there are some homeowners who are just getting back above water on their current mortgage. Since home values have risen, the amount of equity held by homeowners has risen. This means that these homeowners now have the opportunity to sell and buy a bigger or smaller home that meets their needs.   

Do you require more information on the real estate market in the St. Louis and St. Charles County areas of Missouri? Contact The Boehmer Team. We specialize in helping sellers, buyers and people who are relocating to our area. We offer staging and other advice to help you get the most money out of your home sale. 

Preparing Your Home to Sell in the Winter Real Estate Market

The winter is a great time to sell your St. Louis or St. Charles area home. People do buy homes in the winter; in fact, buyers are more serious and more motivated during this season. Also, your home will have less competition in the marketplace. Even so, there are some things you can do to make your home stand out in winter real estate market.

Prepare for the Cold

When prospective buyers walk into your home in the winter they should feel cozy. Take time now to seal up any cracks or fix any windows that are damaged. Make sure you have a shovel and salt ready to keep walkways cleared of any snow or ice.

Check the Roof

If your roof needs any repairs do so before it is covered with snow and ice. Double check that there aren’t any leaks to repair. Make sure that by the end of the fall the gutters have been cleaned out of any leaves or debris.

Paint

Does any of the paint on the outside of your home need a touch up? What about the inside? You won’t want to paint outside in the cold and you may want to open some windows when you are letting interior paint dry. So painting before deep winter sets in is a good idea.

Clean and Organize

Deep clean your home. When the holidays come around you may be too busy or unable to complete some cleaning tasks, like cleaning out the garage or washing the windows. Make a list of things that need to be cleaned and organized and do the things that must be done before the St. Louis cold makes it unbearable.  You might even consider moving some things into storage (or a friend’s basement) before it gets too cold in order to make your house look and feel even bigger.

Take Advantage of Holiday Décor

Use mums or poinsettias to dress up a porch or foyer or hang a fresh pine wreath on the front door. In the winter you can make use of the season with Christmas lights to make your home for sale more inviting. Nothing feels like home more than a festively decorated house with all the touches of the season. But don’t go overboard, too many decorations and your space will feel cluttered.

Sell My St. Louis or St. Charles Area Home

Are you thinking of selling your St. Louis or St. Charles, Missouri area home this winter? Contact The Boehmer Team for more helpful tips to get you prepared for the winter market today. The Boehmer Team has been awarded St. Louis Post Dispatch highest selling agents and they would love to give a great home selling or buying experience to you.