04. Selling Your House During the Coronavirus Scare

Spring is often the start of the best time to sell your house in Maryland and across America. However, with the coronavirus should you even bother listing your house for sale? Would it be better to wait until next year? What is the coronavirus and how will it impact the sale of your house?

What is the Coronavirus?

According to the World Health Organization, coronaviruses are, “… a large family of viruses that may cause illness in animals or humans. Coronaviruses are known to cause respiratory infections. These can range from the common cold, to more severe diseases, such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). The most recently discovered coronavirus causes coronavirus disease COVID-19.”

Impact and Spread of the Coronavirus

Approximately 18 U.S. states have been affected by the coronavirus (COVID-19) to date. Washington state has experienced the first death in the U.S.A. from the coronavirus. According to the CDC, the coronavirus is spread through respiratory droplets produced when an infected person coughs or sneezes. These droplets land on objects and surfaces around the person. Other people then catch COVID-19 by touching these objects or surfaces, then touching their eyes, nose or mouth.

Coronavirus – Recommendations by the World Health Organization

Many stores have sold out of face masks and hand sanitizers. Many states are beginning preparations for quarantine. Individuals are being encouraged to buy large quantities of shelf-stable food in case stores are shut-down. There are many other things you can do to prepare and help prevent the spread of the coronavirus.

The World Health Organization recommends the following precautions in keeping yourself safe from the spread of the coronavirus:

  • Regularly and thoroughly clean your hands with an alcohol-based hand rub or wash them with soap and water.

  • Maintain at least 1 metre (3 feet) distance between yourself and anyone who is coughing or sneezing.

  • Avoid touching eyes, nose and mouth.

  • Make sure you, and the people around you, follow good respiratory hygiene. This means covering your mouth and nose with your bent elbow or tissue when you cough or sneeze. Then dispose of the used tissue immediately.

  • Stay home if you feel unwell. If you have a fever, cough and difficulty breathing, seek medical attention and call in advance. Follow the directions of your local health authority.

  • Stay informed on the latest developments about COVID-19. Follow advice given by your healthcare provider, your national and local public health authority or your employer on how to protect yourself and others from COVID-19.

Coronavirus: What We Know

According to the NY Times, approximately 100,000 cases of the coronavirus have been reported with approximately 3,000 deaths worldwide. It can be a scary time to try to sell your house when the nation is considering the nationwide impact of this worldwide crisis. The current reported death rate of those who contract the coronavirus is approximately 2-3 %. This means 2 to 3 people out of every 100 people who contract the coronavirus will die from the virus or complications that result from it, such as a secondary infection like pneumonia, due to a weakened immune system.

Due to the coronavirus outbreak, certain stocks have dropped in value. Though, it has not had as significant of an impact on real estate sales. Many people still are hesitant to leave their homes unnecessarily to go to open houses or view homes they may be interested in purchasing, particularly if those houses are outside of their current neighborhood. The CDC and World Health Organization advise individuals to stay home if they feel unwell to avoid contracting further illnesses or spreading your illness to others.

You Can Still Sell Your House

Whether you need to sell and move or you need the money for something else, follow a few guidelines and you will be well on your way! Whether you choose to sell your house to an investor or list it on the MLS with a realtor, there are many things you can do to ensure you still receive top dollar despite the scare that the coronavirus has created.

How do you sell a house fast in Maryland, or any state in the country, when folks are buying all of the face masks, hand sanitizer, and not showing up to open houses? Well depending on your home selling budget and situation here are some tips:

  • Have agents showing your house to potential buyers to take precautions to protect themselves and you and your family from any potential spread of flu viruses. This can include frequent handwashing, keeping air purifiers running, and wiping solid surfaces with anti-viral wipes before and after showings.

  • If your budget allows, have your agent spring for a 3-D walkthrough video of your home. This option is best left for homes that have been newly remodeled and show well as they are quite pricey. However, they can be an excellent option for minimizing the number of potential buyers physically needing to tour your home.

  • Declutter! This can be done by selling your unused items in preparation for the move or putting your belongings into temporary storage.

  • Renovate and make necessary repairs. Having your home “ inspection ready” will help make your home stand out from the rest and speed the home-selling process.

  • Price your house attractively. Listing your house for just under what comparable homes have sold or are listed for will drive a lot of interested buyers your way. You may even find your house in the middle of a bidding war and receive an over-asking price for your house.

You Can Sell Your House Fast, With Extra Precautions

There are many things you can do to get your house in Maryland sold quickly. Many of the suggestions for selling your house in Maryland will work in any state, such as thoroughly cleaning and decluttering your home.

Want to know another benefit to selling your house during the coronavirus scare? If others are delaying listing their house, there will be fewer houses for yours to compete with! Meaning you are more likely to obtain a full-price offer during this time.

Additionally, mortgage rates are dropping when normally they would be rising at this time. This means that buyers who are willing to brave the outdoors to view your home will have higher purchasing power than they would when mortgage rates are high. USA Today reported that the “30-year fixed-rate mortgage dropped to its lowest level in more than seven years last week.”

This is a great sign for those who are looking to sell their house and purchase a new one!

Do you plan to list your house now or wait until the coronavirus scare has passed?

Comment below to let us know!

03. Selling Your House in the Winter

So, it’s the middle of January and you find yourself needing to list your house for sale. Maybe you FINALLY received that out of state job offer you’ve been waiting for! Or maybe you are moving in order to be closer to a family member who has fallen ill. Regardless of the reason, you must sell now. You may find yourself worried, as many sellers are concerned about listing their house for sale during the winter months.

The general consensus is that you really should wait to list your house in the spring or summer months. More children are of out school or in between school years so a change in schools resulting from a move will be less impactful on children than switching schools during the middle of a school year. Additionally, buyers are more eager to shop for a house in the summer due to the longer and warmer days of the spring and summer months make it much easier for buyers to shop for a house than during the short cold days of the winter months.

This reality may leave you feeling stressed about having to list your house in the middle of winter! Well do not fear, this post will outline the benefits you’ll have selling your house in the winter rather than waiting until the spring or summer. In fact, some experts agree that it may be best to sell your house in the winter.

It is true, there are fewer home sales during winter than other seasons of the year. However, part of the reason is that there are far fewer houses being listed for sale during the winter! In fact, many houses that are listed in the winter sell much quicker than those houses listed during other seasons. The reason being that for homebuyers looking to purchase a home in the winter, there are far fewer options to choose from. Additionally, buyers are often more serious about buying a house during the winter months than those looking at houses during the warmer months. Someone is far less likely to go window-shopping for a house when it’s cold outside!

When you list your house for sale in the winter, your listing agent will often have more time to dedicate to the sale and marketing of your house. There are far fewer home sale transactions and far fewer buyers wanting to look at houses in the winter which results in more time on the hands of your agent to give your property the attention it deserves. Additionally, slower sales in winter mean your agent is taking home less in commissions during this time, so they may be even more motivated to find a buyer for your house so that they can ensure a relatively steady paycheck during this time.

If you find yourself with a house that is not in list-ready condition but you need to sell fast, many more investors are looking to purchase homes in the winter months because it allows them the necessary time to fix up the house to resell during the spring and summer months. Creo Home Buyers is a local house buying company in Maryland. We buy houses in Maryland for this purpose. So if you find yourself in a situation where you need to sell your house but do not have the time or resources to make it list-ready, feel free to contact us to see if selling without using a realtor or paying an agent’s commissions may be a good fit for your selling your house in Maryland.

5 Benefits of a Home Inspection

You have decided to sell your home and you are debating whether or not to order a home inspection. While it’s not always done, there are many benefits to having a home inspection done before listing and selling your home. This post is not meant to serve as legal advice; please consult an attorney regarding legal matters.

1. Full Transparency

If the house fails inspection, you will be made aware of any defects or issues before attempting to sell your house. If the house passes inspection, you can share those results with prospective buyers. This generates confidence and peace of mind for both you as the seller and prospective buyers.

2. Quicker Sale

Any defects that are found during a home inspection can be corrected before putting your house on the market. When a potential buyer completes their own home inspection, there should be few to no surprises if you have completed your own inspection. As such, delays due to renegotiating the price or needing to complete repairs because of the buyer’s inspection report will be kept to a minimum ensuring a smoother sale.

3. Exceed Expectations

As many homeowners do not have their own home inspection completed before listing a property, doing so will put you a step above your competition. Of course most buyers will complete their own inspection but having your report to compare to will be appreciated. 

4. Price Appropriately

An inspection report will let you know what needs to be repaired. Depending on your budget and time, you may not be prepared to complete all of the necessary repairs just prior to selling your house. Having a complete list of repairs needed will help you to balance out your budget to complete repairs prior to listing your house for sale. There are many factors that can cost you when selling your house. An inspection report will allow you to make an informed decision regarding a reasonable asking price, which may result in more offers more quickly for a quicker sale of your house

5. Minimize Risks

Occasionally, after you sell the property, issues may arise that you might be held liable for. The home inspection you complete before listing your house for sale may help to protect you in such cases. For example, if your inspection report did not show the issue, you may not be held liable. 

 

 

5 Things That Could Cost You When Selling Your House

 1. Putting little effort into curb appeal

What is “curb appeal?” Curb appeal is the cover to the story that is your house. Even if the story is everything you’ve ever dreamed of inside, the perfect kitchen, just the right number of windows, etc., if the cover is unappealing, not many will want to see what’s inside.

Your house should put its best door forward while setting the tone and expectation that this could be “home” for the next potential owner. For ideas on how to decorate, look to see what has been done to improve the curb appeal of recently sold homes in the area or consult a knowledgeable real estate agent to learn the latest trends to increase the likelihood of a quick sale for top dollar.

However, be mindful of any restrictions your Maryland neighborhood may have regarding the look and design of your house. Fines and more repair costs are the last thing you want to deal with when trying to sell your house.

2. Leaving clutter around

When prospective buyers walk into your house, it should feel inviting. If there are a “lot of things” around, potential buyers may not feel welcome. It may be harder for them to envision themselves coming home after work to relax.

Additionally, having “clutter” may make it harder to have the home properly inspected. This could mean potential issues may not be spotted until farther along in the sales process as more items are cleared away or moved. Such discoveries can cause the sale to take much longer to complete or even cancel the sale entirely.

Clutter can also hide valuable key features of your home. Are your kids toys or furniture hiding the fireplace in the family room? Are the built-in window seats functioning as a clothes rack? Families walking through your house will see the clutter and not these special features leaving them likely to put in a lower offer than if the house had been de-cluttered

3. Keeping personal items in view

If your house is full of family pictures and personal mementos, it will be more difficult for potential buyers to visualize themselves the place as “home.” This will lower the offer prices received, the number of offers submitted, and may even result in your property remaining on the market longer than expected. Keep your personal items packed away.

4. Saving painted murals and bold color schemes

Bold color and painted murals are often very personalized and appealing to a small number of buyers. Neutral colors and themes appeal to the greatest number of buyers. This applies to your furniture as well.

That red and black leather living room set? Bright orange walls in the master bedroom? You may want to consider renting neutral furniture and re-painting the walls while your house is on the market. The idea is to appeal to the largest number of buyers, and neutral themes and colors are the best way to do so!

Murals are not always a bad idea to keep, particularly if the mural was professionally painted. Though, if your house in Maryland isn’t selling and has been sitting on the market for longer than expected, you just may be surprised how quickly you receive an offer after painting over it.

5. Lingering odors

Every home has a smell, make sure yours is a good one. Scented candles and air freshener scents will only mix with unpleasant odors rather than eliminate them. Potential buyers coming through your house may also find air freshener scents offensive, having the opposite of the desired effect.

The best way to combat odors? Deep cleaning. Carpets, bedding, curtains, and fabric furniture often harbor the greatest number of odors. Keep bedding and curtains freshly laundered. For carpets and furniture, hire a professional cleaner or clean those items yourself.

If you plan to list your house on the market, be sure you have the time, energy, and money needed to put into your house to get it sold for top dollar. Even after addressing the items listed above, the market is unpredictable, and your house may not sell as quickly as expected or at all!

However, there is an easier way!

Did you know you could skip all of the steps above and sell your house in Baltimore to a professional house buying company, like Creo Home Buyers?

We take all of the guesswork and effort out of selling your house. The best part when selling your house to Creo Home Solutions? You don’t have to tackle a single item in the list above. Sell your house in Maryland AS-IS! No repairs, cleaning, or prep-work needed!