June 2017 - Loftway : Loftway


Why is Your Loft Not Selling?

23 Jun 2017 · by Virtual Results PubSub

Why is Your Home Not Selling?Has your Loft been on the market for quite some time with no offers? Have you been watching while other Lofts in your neighborhood sell within days of listing? Are you frustrated and worried that you may never find a buyer?

If you’re having trouble selling your Loft, it’s time to take a good look at what you’re offering. Here are common problems that cause Lofts to languish on the market.

Your Loft is priced too high

Even in a seller’s market, there are limits to how high you can price your Loft. Determining the best price for your Loft can be tricky. Enlisting the help of a real estate professional who is an expert in your market can be a huge asset. They will know what the comps are for your area and how your Loft stacks up to the competition. They will also be well versed in the market trends that are currently affecting housing prices in your area, and can adjust your asking price accordingly. If your Loft isn’t selling, examining your asking price is one of the first steps you should take.

Your Loft is in poor condition

If you want to get your full asking price, you need to pay special attention to the condition of your Loft. If your Loft falls short in any way from other properties available in your area, it could cause it to not sell. Are there improvements you could make to your Loft that would make it more appealing to buyers? This could include sprucing up your curb appeal, making cosmetic changes to the interior, and addressing repairs like holes in the walls or leaky faucets.

Your marketing materials need work

Many buyers do their first Loft searches online. This means that the photos you take of your Loft are the first things potential buyers will see. Your photos can either entice them to see more or turn them off. Take a look at your listing photos. Do they highlight your Loft’s best features, or are you leaving too much to the imagination? Consider hiring a professional photographer to shoot flattering photos of your Loft for your listing.

You haven’t depersonalized

When buyers walk into a Loft, they want to be able to envision themselves living there. That can be hard to do if you have too much personal clutter in your Loft. Buyers may not (and probably will not) share the same tastes as you, so it’s imperative you remove personal items and clutter before showing the Loft.

Buyers can’t see the Loft

Selling a Loft is an inconvenience to those currently living in it. But it’s an unavoidable price of doing business. If you make it hard for buyers to come see your Loft in person, it’s more likely to sit on the market. If you have renters, consider waiting until the renters have vacated before showing the Loft. If you are currently living there, be reasonable about allowing agents to show your Loft as necessary.

It could be the difference between selling your Loft quickly and for a good price, or waiting weeks or even months before you get an offer.




Selling a Loft As Is

12 Jun 2017 · by Virtual Results PubSub

Are the bathrooms outdated? Is it time to replace the furnace? If your Loft has issues, and you’re getting ready to sell, you may be dreading the repairs you have to make before putting it on the market. But what if you were to sell it as is? Meaning – what if you decide to simply put your Loft up for sale in its current condition, problems and all? If this sounds intriguing, read on to find out what to expect.

Understand the trade-offs

Maybe you don’t have the time or money to put into a long and costly renovation. It’s understandable. But you do need to know what the trade offs will be. If you would need to put several thousand dollars – or more – into fixing the roof or renovating a bathroom, you should expect to knock the equivalent off the price of the Loft.

In addition, some lenders require that Lofts meet minimum requirements for health and safety standards. If your Loft does not meet them, than anyone needing a mortgage will not be a prospective buyer. You’ll be limiting the pool of buyers to only those who can pay cash.

Make the required disclosures

When selling a Loft as is, you need to be upfront about all the known problems with your Loft. In fact, you are legally required to make those disclosures, which will vary from state to state. The problems will be discovered when the buyer completes a home inspection, so be sure that all contracts clearly state the property is being sold in as is condition.

Know how to handle low offers or requests for repairs

Since an as is property is most likely going to appeal to investors looking to renovate and flip or rent the Loft, be prepared to get some lowball offers. Remember – investors will want to make a profit from their efforts. Don’t take it personally. Know what your lowest price is and be prepared to counter.

Also, if a home inspection uncovers issues that were not initially disclosed, a buyer may make requests for repairs or compensation. If you do not agree to them, they are allowed to walk away and have their deposit returned. You’ll then be required to disclose those additional issues discovered during the inspection to any new buyers that make an offer.

Keep the Loft clean

While you may not want to pour money into professionally staging your as is Loft, you should at the very least keep it clean and neat. This includes maintaining the yard and keeping the Loft ready for viewings. It will make a better overall impression and increase your chances of getting an offer you feel comfortable accepting.

While selling an as is Loft is not a piece of cake, it isn’t an insurmountable challenge. By knowing what to expect before you begin the process, you can sell your Loft for a price that both you and the buyer can be happy about.

 




Make De-cluttering Easy

2 Jun 2017 · by Virtual Results PubSub

One of the most important steps you can take when you’re selling your Loft is to de-clutter. Staging your Loft for a quick sale means cleaning, removing your personal items, and giving your space a neutral feeling. But if you’re like many people, the thought of tackling such a big job is intimidating. Here are our best tips for making the task as stress-free as possible.

Focus on one area at a time

Let’s face it – it took you years to accumulate all that stuff. It’s not going away overnight. And holding yourself to an unattainable goal isn’t going to make it any easier. Instead, focus on one area at a time. This could mean breaking it down room by room, starting with the easiest room first. If even that sounds like too much, break it down even further, like one closet, drawer or cabinet at a time. Give yourself a daily goal, and stop when you are done with that area.

Get the family involved

Your family helped contribute to the clutter, so they can also help with the process of getting it under control. Delegate areas to each family member. Perhaps your spouse can tackle all the sports equipment in the garage. Let the kids each handle their own room (with supervision, of course). Make de-cluttering the living room a family event.

Organize into piles

As you de-clutter each area, you’ll want to organize your belongings into four piles:

  • Keep
  • Donate
  • Recycle
  • Throw Away

Each item you are removing should go into one of these piles, to make it easier to get them all out the door without losing your mind. The pile that you’re going to keep can be boxed up and stored, while the other items can be tossed out, given to friends or family, or taken to a donation center.

Purge these items

Yes, you’ve been saving that lone sock because you think its mate will eventually show up. In reality, it probably isn’t and there’s no reason to hold onto it. In fact, there are many items in your life that you don’t need to hold on to. Think about purging these items for good:

  • Lone socks
  • Clothing that is damaged or no longer fits
  • DVDs you don’t watch
  • Books that you’ve read or will never read again
  • Expired medication
  • Old cosmetics and toiletries
  • Wire coat hangers
  • Outdated electronics
  • Mismatched or chipped plates, cups and mugs
  • Storage containers without lids
  • Expired food
  • Toys the kids no longer play with
  • Condiment packets like ketchup or soy sauce
  • Unidentified keys
  • Old cables and chargers
  • Old paint
  • Receipts you don’t need for taxes or future returns
  • Appliance manuals

Reward yourself

Some people find the process of de-cluttering so painful that it could be beneficial to attach a reward for the completion of each step. Perhaps when the kitchen is de-cluttered, you can take the family out for pizza. Or finally letting go of all those DVDs can result in a night out at the movies.

While de-cluttering can be stressful, it is a necessary part of getting your Loft ready to put on the market. By following the guidelines above, your house will be show-ready before you know it!