by Marc Rasmussen – Sarasota FL Real Estate

Are you trying to sell your home or thinking about selling your home in the near future? One thing you need to remember is that buyers generally do not want to purchase a “to do” list. When home buyers go shopping they generally are not envisioning hard work, painting, scrubbing, cleaning and repairing. They are most likely thinking about all of the good times they intend on having in the home. A buyer that is willing to take on a project will want a significant discount on the price. It is best to eliminate the “to do” list that your home has in order for you to put the most money in your pocket. Here are 5 tips to give your home a better first impression:

1) Clean, Clean Clean

No one wants to buy a pigsty unless of course they are getting a great deal. Clean your home extensively. Bring in cleaners if you don’t have the time or energy. The money you spend on the cleaning will probably come back to you ina  higher sales price.

2) Paint

Paint anything necessary to give it that fresh look. Painting the outside or inside of your home may not be cheap but it certainly will make your home look much better and cleaner. Painting is one of those fixes that should come back to you in a higher sales price. If you install a $50,000 kitchen chances are good that the price of your home will not go up $50,000. However, a $2,000-$3,000 paint job is a good investment.

3) Trim and Tidy Up the Yard

There are probably some trees or bushes that need trimming. Invest a couple of hours on the weekend or hire a crew to come in and give your outside yard and garden a good cleaning. Trim the neglected trees and bushes. Pull those weeds that have been lingering around. Again, the buyer needs envision good times in the house, not a bunch of hard work.

4) How’s your mailbox?

It might seem silly but something as small as the condition of the mailbox could set the tone for the buyer when they visit your house. Buyers will probably notice that you have given attention to even the smallest details. Replace the numbers on your house or mail box with new and attractive ones. If your mailbox needs it give it a fresh coat of pain as well.  

5) Does your house stink?

Do you smoke or have pets? That can be a huge turn off to a buyer. I recently showed a smokers house and the smoke odor punched you in the face when you walked into the house. The buyers were very turned off. Make sure you get rid of any odors. Spray Febreze, bake some cookies, have the air ducts cleaned or vacuum or mop extensively. Remove any odors from the house.

Remember, that most buyers just want to walk into a perfect house with nothing to do. The more chores you give them the less interested they become. To put more money in your pocket at closing do your best to eliminate the problems.

By: Marc Rasmussen – Sarasota real estate

Not every Realtor will admit this but there is a lot of fluff when it comes to marketing a home. Call a few Realtors or explore a few websites and will see a laundry list of things that agents do to sell a home. I saw one recently that said, “76 Steps to Marketing Your Home”. Do you really need to do 76 things to get a home sold? Hopefully not.

I am trying to make fun of anyone. I am sure that 76 step plan is a great marketing tool. I think Realtors just come up with more stuff to out do each other. If you have 50 things to market a home then I will come up with 60 things to market a home.

I am not trying to downplay the whole home selling process. Aside from a few exceptions there is a lot of work that goes into selling a home. From the outside many homeowners think, “those Realtors are so overpaid.” However, for every easy transaction a Realtor has 9 pains in the butt or properties that do not sell.

Here are 4 essentials to selling a home:

1) The right price – You could have the best brochure in the world, the cleanest house, 100 e-blasts to Realtors, full page print ads in the Sunday newspaper and displayed nicely on 1,000 websites but if you have the wrong price your home will still not sell. Home buyers look at more than just one home when they buy. All of that marketing might get a buyer in the door but they will end up buying a different house that is a better deal.

Let’s say your home is a 3 bedroom, 2 bathroom, 3,100 square foot home in Bent Tree in average condition and you are asking $459,000. Now assume a home down the street in better condition with 4 bedrooms, 2.5 bathrooms, 3, 150 square feet is asking $399,000. Regardless of how each home is marketed which home has a better chance of selling first?

2) Good Realtor – Having good representation can make a difference in whether your home sells or not. I am not suggesting that you have to list with a “super star” Realtor but make sure your agent has some experience. If they don’t make sure their manager will help out. A good agent will pay off when there is a problem.

3) Good Marketing – Even if you have a good Realtor and the right price you need to market the home. A good marketing plan usually includes quality photos, a virtual tour, internet exposure, brochures and entering it on the multiple listing service (MLS). The MLS system is the most important piece of the marketing puzzle. When a Realtor does this they are basically hiring every agent in the community to help sell the house. Your home still might sell with no marketing but it may not sell for top dollar

4) Access to the property – I have seen properties languish on the market for a long time that had a good price, good marketing plan and a good Realtor. However, the missing piece of the puzzle was that you could not access to the house. A buyer usually needs to be able to see the home in order to buy it.

Three of the above are relatively easy to achieve. There are plenty of good Realtors out there. Most or all of them have great marketing plans and providing access to your home is doable. The tough one is pricing your home right. Most home owners think their home is worth more than its true value.

By: Marc Rasmussen, a Realtor selling Sarasota real estate

I have not made a blog post here in a while and I was brainstorming to come up with a topic. So, I decided to write something along the lines of “Tips to Choosing a Realtor” and Googled that exact phrase to help me come up with some ideas. I came across www(dot)housebuyingtips(dot)com/realtor(dot)htm. Two of the tips include:

1. “Real Estate Agent” Is Just Another Name For “Salesperson” - Don’t ever lose sight of that fact. Their only mission is to sell, sell, sell to YOU.
2. You cannot guarantee impartiality
   If your real estate agent’s commission is based on the selling price of a house you are about to buy, you cannot guarantee that the agent has your best interest at heart. The only way to guarantee that is to actually pay a large fee to a real buyer’s agent who does not get a percentage of the selling price.

Realtors are compensated solely by commission. That means we are based on performance and a successful outcome.  I have often wondered if the real estate industry would work as well if Realtors were compensated by the hour. We could be like attorneys.  The whole system would be set up in a way that we would make more money the more inefficient we are. Instead of selling a home in 60 days and making a certain amount of money we could drag out the process by months or years and generate a lot more revenue. Instead of a home buyer finding a home in a a few weeks we could prolong it and drag it out by months in order to make more money.

Could you imagine a home buyer paying a Realtor an hourly wage whether they bought a home or not? I am not sure it works out too well for the home buyer but it doesn’t sound too bad to me. I am sure it would do away with many of the time wasters. As a Realtor would you be interested in being paid by a seller whether their house sold or not? Imagine taking a listing and charging the seller by the hour for paper work, installing sign, creating flyers, entering on the internet, pitching it in sales meetings, fielding phone calls, showing it etc. The great thing about this is that we would get paid whether the house sold or not. In reality, we would probably make more money if the home did not sell. Instead of only taking those listing that you think would sell we could take EVERY listing because we would make money off of ALL of them.

I think if you really analyzed it, the real estate industry is more efficient and works better when Realtors are paid at the completion of a successful sale. I love the idea of getting paid for my time but I don’t think paying a Realtor by the task or hour would be too good the consumer.

Is it too late to apply to law school?

I read a quote from Warren Buffet a few months back. He said:

“I would rather buy a great company at an average price than buy an average company at a great price.”

I found this one interesting. Often times within the first seconds of a conversation with a home buyer they say, “I’m looking for a deal!” Who can blame them in a market like this? If I was looking to buy a home I would be looking for a deal too. “Deal” means different things to different people. To me a deal is a home that I can buy for 80% or less of TODAY’s market value. A deal to someone else might be buying a home simply at market value. Because today’s market values are definitely considered “a deal” when compared to prices 4 years ago.

The problem comes when you want to find “a deal” along with a laundry list of other necessities like 3 bedrooms, 2 bathrooms, 2500+ square feet, swimming pool, in a good school district, within 20 minutes of my work, on a cul-de-sac, built within the last 10 years, open floor plan, split plan and with a large yard. What are the chances of finding that? Probably pretty slim to none.

Homes buyers can usually find a smokin deal which means a home selling below TODAY’s market value however it is not in a great section of town, the home needs a ton of repairs, is too small, on a busy road, does not have a pool, has a choppy floor plan, was built a long time ago, and in a bad school district. Or they find the home that matches most of their needs and wants but can only be bought at TODAY’s market prices and not below it.

Home buyers should ask themselves:

“Do I want an average house at a great price or a great house at an average price?”

Marc Rasmussen selling Longboat Key Real Estate

CNNMoney.com came out with their list of the most overvalued and undervalued cities in the United States. You can read the article here or see the list of overvalued and undervalued cities. They listed Las Vegas, Nevada as 41.40% undervalued as well as the most undervalued city in the United States. In 2006, CNNMoney.com wrote a similar article where they said Las Vegas was 38% overvalued.

Good news for those who own Las Vegas real estate. If you are looking to buy a home this appears to be a very good time. These inventory levels won’t be this high forever. I know the same thing is happening with Sarasota real estate. Inventories are declining and sales are increasing.

Need a little rest and relaxation? Take a trip to the island oasis of Longboat Key. It is located about an hour south of Tampa and just off the coast of Sarasota, Florida. This is a pristine eleven mile long island surrounded by the clear blue waters of the Gulf of Mexico and Sarasota Bay. Vacationers from all over the world come to Longboat Key to enjoy a relaxing beach environment. It is a great place to unwind and forget about your daily worries.

Longboat Key Activities

There is plenty to do in the Sarasota, Florida area. Especially, if you want to play in the water and untie your knots. I just vacationed at Disney in Orlando with my family for 4 days. I had a fabulous time but I left there more tired than when I arrived. That is unlikely if you spent a weekend relaxing at the beach on Longboat Key. Below are some of the fun things to do.

• Beach
• Boating
• Golfing
• Tennis
• Shopping
• Fine dining
• Mote Marine Aquarium
• Selby Gardens
• Parasailing
• Jet skiing
• Fishing

Longboat Key Real Estate

Thinking about buying a vacation getaway? There probably is not a better time to do it. On Longboat Key you can find a simple home on the north end of the island near the beach, a penthouse condo overlooking the Gulf of Mexico or a spacious waterfront mansion. Visit my Longboat Key real estate page to view hundreds of homes and condos for sale. Give Marc Rasmussen a call at 941.812.6272 if you need any help.

Are you looking to buy a home? The home buying process can be daunting but it does not have to be. Here are 5 easy steps to help you find your dream home.

1) Get pre-approved

Figure out what you can afford to buy. Either use a service online or sit down with a mortgage broker/lender or banker to figure out what is in you comfort zone. We all want to buy a home more than we can afford. Establish what you can afford and then get pre-approved for a mortgage. Your negotiating power increases when the seller knows that you are are for real and can get money.

2) Make a list of your needs and wants

You probably won’t get everything you want. Generally, everyone has to make compromises, regardless of their price range. People always seem to want more than they can have.  Getting your needs filled is the most important thing in a home. Figure out what you want.

3) Hire a good Realtor

Don’t hire your cousin or other family member who happened to get their real estate license but failed out of the real estate business. This is a big investment. Hire a professional who knows the market well. A knowledgeable Realtor can save you several headaches and tons of time. Explain your needs and wants in a home with your Realtor. They will also need to know your budget.

4) Be realistic

Hopefully through your internet searches and consultation with a Realtor you are more knowledgeable about the real estate market. Right now it is a buyers market however the number of homes that meet your needs and wants may not be that great. Inventories are dwindling in several areas of the country. Good properties with the right asking price see plenty of action. The media sensationalizes the news to sell more newspapers and advertising. A good Realtor can explain the true facts of the real estate market. Be realistic about the real estate market and what homes cost.

5) Make an offer

If you have done your homework, been pre-approved and hired a good Realtor it is time to go look at property. Make a  list of the best areas and look at homes/condos in those locations. If nothing is good wait for new listings to come on the market. When the right property is found make an offer. There is no such thing as a perfect house. Again, compromises have to be made.

Good luck.

Marc Rasmussen

Sarasota Homes For Sale & Sarasota Houses

The buzzword in today’s real estate market is Foreclosure. Here are some 5 tips to buying a foreclosure.

1) Don’t assume all foreclosures are great deals.

Just because it is a foreclosure does not mean that it is a great deal. I have seen many over priced bank owned properties. Many of the smaller community banks are overpricing their properties.  While the Fannie Mae and Freddie Mac properties seem to be priced more aggressively. Hire a good Realtor and learn the market.

2) Don’t buy in the wrong area.

Location is still the most important thing in real estate. Just because you found a foreclosure in a less than desirable area doesn’t mean you should buy it. A good investment is finding an aggressively priced bank owned property in a good location. Price is not the only factor when buying a home.

3) Get an inspection

You need to know as much as possible about the home BEFORE you own it. Make sure you get it thoroughly inspected. Make sure your purchase agreement has an inspection clause.

4) Get a title search

Make sure your title company or the attorney representing you does a title search. Title insurance is worth the investment.

5) Hire a good attorney

It is good to have experts on your side. They are like insurance. Most of the time you don’t need them but the one time you do it is really good to have them. Be wise and surround yourself with experts – Realtor, Attorney and Inspectors.

There are some good deals out there in the foreclosure market. However, you should not ignore a great property with a realistic seller that is price right. You can still find a good deal with a traditional seller. Good luck.

Marc Rasmussen

Sarasota houses

I embedded a video to the right. The Housing Bubble bursts on a speculator. Parody using a clip with Hitler as the real estate investor. He bought a house to flip, faces foreclosure, and now wants to get bailed out. It is pretty comical, check it out.

Marc Rasmussen

Sarasota MLS

Thinking of selling your home? Here are 5 things to do prior to listing your home.

1) Make sure you really want to sell.

Yes, the market is improving. In many areas of the country it has become easier to sell a home. However, most cities still have too many homes on the market. If you are not really motivated to sell it might be best not to waste your time. Aside from a few exceptions it seems like only the motivated sellers are successful.

2) Research your market

You need to become an expert on the real estate market. Take an objective look at your home and your competing homes. Put your buyer hat on. Would you buy your home or the better home at a lower price? When you get an offer your market knowledge will help you respond wisely.

3) Clean and de-clutter your house

Many buyers have a hard time with vision. Don’t make them envision a clean and de-cluttered home. It is much easier to sell a home that is in model shape. Take down some of your personal belongings. You might need to remove some furniture if you have too much. Go visit some model homes and get an idea of staging. It does help sell real estate.

4) Hire a good Realtor

This one is important too. Some Realtors can mess up a transaction. Get a referral from someone or go online and research Realtors. Have they done any business lately? Have they sold any homes in your area? What is their marketing plan? Don’t let them buy your listing. Ask them to justify any asking price they give you with recently sold homes.

5) Think about where you will move to

Don’t get caught off guard by not know where you will move to. Let’s say a buyer comes along with an offer to close in 30 days. Do you know where you will go? Don’t mess up a transaction by needing 60-90 days because you don’t know where to go.

Marc Rasmussen

Sarasota Realtor