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The Luxury Market Is Attracting Buyers in 2021

The Luxury Market Is Attracting Buyers in 2021 | Simplifying The Market

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

“Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.


Source: KMC

Posted in: For Buyers, Housing Market Updates, Interest Rates, Luxury Market, Move-Up Buyers Tagged: Real Estate

Buyers Are Finding More Space in the Luxury Home Market

Buyers Are Finding More Space in the Luxury Home Market | Simplifying The Market

A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.

The Institute for Luxury Home Marketing (ILHM) explains:

“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.”

This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes:

“Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers.”

For today’s buyers looking for larger homes, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes:

“Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market.

Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all.”

Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs.

Bottom Line

If you’re ready to gain some breathing room in a larger home, let’s connect so you have the guidance you need to find more space in the luxury home market.


Source: KMC

Posted in: Down Payments, For Buyers, For Sellers, Interest Rates, Luxury Market, Move-Up Buyers Tagged: Real Estate

Opportunity in the Luxury Market This Year

Opportunity in the Luxury Market This Year | Simplifying The Market

Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.

According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM):

“In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single family and condo markets.”

Momentum is growing, and those looking to enter the luxury market are poised for success in 2020 as well. With more inventory available at the upper-end, historically low interest rates, and increasing average wages, the stage is set for buyers with an interest in this tier to embrace the perfect move-up opportunity.

The report highlights the increase in buyer activity in this segment, resulting in growing sales toward the end of 2019:

“According to reports from many luxury real estate professionals, the significant increase in number of properties bought at the end of 2019 versus 2018 is reflective of an early 2019 holding pattern.

Many of early 2019’s prospective luxury buyers held off while waiting to see how prices would react to new tax regulations and other policy changes. Buyer confidence returned in late spring and compared to 2018, above average sales were reported in the final quarter of 2019.”

With evidence of strong buyer confidence, this is great news, as more homeowners are building equity and growing their net worth throughout the country:

“Many homeowners are now diversifying their wealth, owning several properties rather than a single mega mansion. In addition, there have been an increase number of home purchases taking place in smaller cities, reflecting the rising number of people relocating from major metropolises. Their property equity wealth or ability to pay high rental costs have afforded them the opportunity to purchase luxury properties in…secondary cities throughout North America.”

With a strong economy and a backdrop set for moving up this year, it’s a great time to explore the luxury market. Keep in mind, luxury can mean different things to different people, too. To one person, luxury is a secluded home with plenty of property and privacy. To another, it is a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent understand what you’re after as you define the scope and location for the home of your dreams.

Bottom Line

If you’re thinking about upgrading your current house to a luxury home, or adding an additional property to your portfolio, let’s get together to determine if you’re ready to make your move.


Source: KMC

Posted in: For Buyers, Housing Market Updates, Luxury Market, Move-Up Buyers Tagged: Real Estate

2020 Luxury Market Forecast

2020 Luxury Market Forecast | Simplifying The Market

By the end of last year, many homeowners found themselves with more equity than they realized, and at the same time their wages were increasing. When those two factors unite, it can spark homeowners to think about making a move to a larger or more expensive home in the luxury space. That said, now is a perfect opportunity to take a look at the forecast for the 2020 luxury market.

Three Things to Think About in the 2020 Luxury Housing Market

1. Prices

The U.S. economy is strong today, with buying opportunities throughout the luxury end of the market. Thomas Veraguth, Strategist at UBS Global Wealth Management, says in Barrons.com,

“There’s a good link between luxury real estate prices and [economic] growth.”

Available inventory is a key element that can impact home prices. At the upper range, the inventory is greater in comparison to the entry-level market, making moving up to a luxury home a growing reality for many buyers right now.

2. Activity in the Market

With more buying opportunities at the higher end, we should start to see an increase in activity. The same article states,

“Affluent homebuyers will start to come out of the woodwork as they find rising luxury rents less appealing and sellers get even more negotiable on price.”

Buyers looking in the luxury market are taking the opportunity to negotiate on price in a segment where there are more choices, too. According to the Luxury Market Report, homes sold for an average of 96.94% of the list price in December.

Buyers are also getting more for their money with greater purchasing power due to the current low interest rates.

3. Buyers Are Coming Back

Keep in mind, buyers are often sellers too, especially those looking to move up. Homeowners with an entry-level home can take advantage of the inventory shortage at the lower end of the market, thus driving higher sales prices for their current homes. Combined with growing equity in the homes they’re listing, it’s a great time for those who are ready to make a luxury move.

The extra equity and greater purchasing power are bringing many buyers back to the market. The same article mentioned that,

“We’ve already seen buyers who’ve been on the sidelines for two years tread back into the market.”

Bottom Line

If you’re considering entering the luxury market, 2020 is shaping up to be a great year for those who are ready to make that move. Let’s get together to set your real estate plan for the year.


Source: KMC

Posted in: For Buyers, Luxury Market, Move-Up Buyers Tagged: Real Estate

Depending on the Price, You’re Going to Need Advice

Depending on the Price, You’re Going to Need Advice | Simplifying The Market

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.

Starter-Home Market: This market varies by price, and these homes are typically purchased by first-time home buyers or investors looking to flip them for a profit. Across the country, homes in this space currently have less than 6 months of inventory for sale. That means there aren’t enough homes on the lower end of the market for the number of people who want to buy them. A low supply like this generally increases competition, drives bidding wars, and sets up an environment where homes sell above the listing price. According to data from the National Association of Realtors (NAR) on realtor.com,

“The desire for affordability continues to push down the inventory for homes listed for less than $200,000.00.”

Middle-Home Market: This segment is often thought of as the move-up market. Typically, the buyer in this market is moving up to a larger, more custom home with more features, all coming at a higher price. Across the country, this market is looking more balanced than the lower end of the market, meaning it has closer to a 6-month supply of inventory for sale. This market is more neutral, but leaning towards a seller’s market.

Premium & Luxury Home Market: This is the top end of the market with larger homes that have even more custom features and upgrades. Nationwide, this market is growing in the number of homes for sale. In the same realtor.com article, we can see that year-over-year inventory of homes in this tier has grown by 4.7%. Today, there are more homes available in the premium and luxury space, leading to more of a buyer’s market at this end.

Bottom Line

Depending on the segment of the market and the price point you’re looking at, you’re going to need the advice of a true local market expert. Let’s get together to help you navigate the home-buying or selling process in your market.


Source: KMC

Posted in: First Time Home Buyers, For Buyers, For Sellers, Luxury Market, Move-Up Buyers, Pricing Tagged: Real Estate

Now’s the Time to Move-Up and Upgrade Your Current Home!

Now’s the Time to Move-Up and Upgrade Your Current Home! | Simplifying The Market

Homes priced at the top 25% of the price range for a particular area of the country are considered “premium homes.” In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners wanting to upgrade from their current house.

Much of the demand for housing over the past couple of years has come from first-time buyers looking for their starter home. Many of the more expensive homes listed for sale have not seen as much interest.

According to ILHM’s Luxury Report, this mismatch in demand and inventory of luxury and premium homes has created a Buyer’s Market. For the purpose of the report, a luxury home was defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that current conditions at the higher end of the market are no cause for concern.

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. To one person, luxury is a secluded home with plenty of property and privacy. To another, it could be a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent find you the home of your dreams.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!


Source: KMC

Posted in: Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Luxury Market, Move-Up Buyers Tagged: Real Estate

Your Fabulous New Dream Home is Now Available

Your Fabulous New Dream Home is Now Available |Simplifying The Market

Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in.

That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome.

Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and lifestyle. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.

The average number of years a family stays in their home has increased by fifty percent since 2008, causing fewer houses to come to the market. During the same time, new home builders were concentrating most of their efforts on large, luxury, expensive houses.

However, that is starting to change.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 692,000 units in March. The great news is that more of those homes were sold at the lower end of the price range.

In a press release last week, the National Association of Home Builders (NAHB) explained that:

“The median sales price was $302,700, with strong gains in homes sold at lower price points. The median price of a new home sale a year earlier was $335,400.”

NAHB Chief Economist Robert Dietz offered further detail:

“We saw a large gain at lower price points where demand is strong. In March of 2019, 50% of new home sales were priced below $300,000, compared to 39% in March of 2018.”

Bottom Line

If you are a “boomer” thinking of selling your old house in order to buy a new home that better fits your current lifestyle, now may be the perfect time!


Source: KMC

Posted in: Baby Boomers, Demographics, For Buyers, For Sellers, Housing Market Updates, Luxury Market, Pricing Tagged: Real Estate

Dreaming of a Luxury Home? Now’s the Time!

Dreaming of a Luxury Home? Now's the Time! | Simplifying The Market

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call their house their new home.

The sale of your starter or trade-up house will help you come up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

A recent Bloomberg article gave some insight into what many millennials are choosing to do:

“A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding ‘the rise of the new aristocracy.’”

Bottom Line

The best time to sell anything is when demand is high, and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.


Source: KMC

Posted in: First Time Home Buyers, For Buyers, Luxury Market, Millennials, Move-Up Buyers Tagged: Real Estate

Moving-Up to a Luxury Home? Now’s the Time!

Moving-Up to a Luxury Home? Now’s the Time! | Simplifying The Market

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control. 

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

Bottom Line

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.


Source: KMC

Posted in: For Sellers, Luxury Market, Millennials, Move-Up Buyers Tagged: Real Estate

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Margo Borkin Real Estate

Margo Borkin Real Estate
1 week ago
Margo Borkin Real Estate

We all have one...⁣
⁣
• The one recipe you return to again and again because it’s just so darn delicious⁣
• The one you find yourself mindlessly grabbing the ingredients for every time you stop at the store⁣
• The one you can make on auto-pilot even though you’re so exhausted you can hardly see straight ⁣
⁣
So what's your bonafide “go-to” meal! Share it in the comments below, bonus points for pics.
... See MoreSee Less

We all have one...⁣
⁣
• The one recipe you return to again and again because it’s just so darn delicious⁣
• The one you find yourself mindlessly grabbing the ingredients for every time you stop at the store⁣
• The one you can make on auto-pilot even though you’re so exhausted you can hardly see straight ⁣
⁣
So whats your bonafide “go-to” meal! Share it in the comments below, bonus points for pics.
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Margo Borkin Real Estate
1 week ago
Margo Borkin Real Estate

Think the highest offer on a home always wins? Think again. Here are four reasons why a seller may not choose the highest offer:⁣
⁣
1. A buyer brings an all-cash offer: A buyer paying cash means there won’t be any financing pitfalls — and sellers LOVE avoiding pitfalls.⁣
2. A buyer can close ASAP: If a seller is antsy to get moving, an offer from a buyer who can close quickly will zoom to the top of the stack.⁣
3. A buyer shares their story. Sometimes buyers want sellers to know exactly why their house is “the one.” And sometimes, that’s all it takes for a seller to agree — especially if a seller has lived in the home for decades and their move is a sentimental one.⁣
4. A buyer doesn’t ask for contingencies. A common contingency is that a buyer must sell his or her home before buying. Sellers love when an offer is free and clear of cumbersome contingencies totally out of their control.⁣
⁣
It’s true — you want to go in with a strong offer price-wise, but that’s not the only thing sellers are looking for. Sellers want an offer that’s competitive, clean, AND close-to-asking price — the closer you can get to all three, the better!
... See MoreSee Less

Think the highest offer on a home always wins? Think again. Here are four reasons why a seller may not choose the highest offer:⁣
⁣
1. A buyer brings an all-cash offer: A buyer paying cash means there won’t be any financing pitfalls — and sellers LOVE avoiding pitfalls.⁣
2. A buyer can close ASAP: If a seller is antsy to get moving, an offer from a buyer who can close quickly will zoom to the top of the stack.⁣
3. A buyer shares their story. Sometimes buyers want sellers to know exactly why their house is “the one.” And sometimes, that’s all it takes for a seller to agree — especially if a seller has lived in the home for decades and their move is a sentimental one.⁣
4. A buyer doesn’t ask for contingencies. A common contingency is that a buyer must sell his or her home before buying. Sellers love when an offer is free and clear of cumbersome contingencies totally out of their control.⁣
⁣
It’s true — you want to go in with a strong offer price-wise, but that’s not the only thing sellers are looking for. Sellers want an offer that’s competitive, clean, AND close-to-asking price — the closer you can get to all three, the better!
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Margo Borkin Real Estate
2 weeks ago
Margo Borkin Real Estate

It's time for the last secret in our 5 Secrets of a Successful Sale — secrets that together will help you sell your home without a hint of luck or wishful thinking.⁣
⁣
Before jumping to Secret #5, a quick review:⁣
⁣
Secret #1: It’s your kitchen that’ll sell your home.⁣
Secret #2: Declutter, depersonalize, and stage your home.⁣
Secret #3: Don't go overboard on upgrades.⁣
Secret #4: Find out what your home is worth, then shave 15-20% off the price to spark a bidding war.⁣
⁣
And last but certainly not least...⁣
⁣
Secret #5: Work with the right agent.⁣
⁣
The easiest way to hire the RIGHT agent? Knowing when they’re the WRONG agent. Here are few warning signs:⁣
⁣
• They have few references.⁣
• They aren’t familiar with your neighborhood.⁣
• They are new to town.⁣
• They are hard to reach by phone, email, or text.⁣
• They pressure you to make decisions before you feel ready.⁣
⁣
There are a ton of AMAZING agents out there. So don’t settle! Keep looking and asking around until you find an agent you “click” with — getting a successful sale (and maybe that pot o’ gold!) depends on it.⁣
... See MoreSee Less

Its time for the last secret in our 5 Secrets of a Successful Sale — secrets that together will help you sell your home without a hint of luck or wishful thinking.⁣
⁣
Before jumping to Secret #5, a quick review:⁣
⁣
Secret #1: It’s your kitchen that’ll sell your home.⁣
Secret #2: Declutter, depersonalize, and stage your home.⁣
Secret #3: Dont go overboard on upgrades.⁣
Secret #4: Find out what your home is worth, then shave 15-20% off the price to spark a bidding war.⁣
⁣
And last but certainly not least...⁣
⁣
Secret #5: Work with the right agent.⁣
⁣
The easiest way to hire the RIGHT agent? Knowing when they’re the WRONG agent. Here are few warning signs:⁣
⁣
• They have few references.⁣
• They aren’t familiar with your neighborhood.⁣
• They are new to town.⁣
• They are hard to reach by phone, email, or text.⁣
• They pressure you to make decisions before you feel ready.⁣
⁣
There are a ton of AMAZING agents out there. So don’t settle! Keep looking and asking around until you find an agent you “click” with — getting a successful sale (and maybe that pot o’ gold!) depends on it.⁣
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Margo Borkin Real Estate
2 weeks ago
Margo Borkin Real Estate

Got the kitchen looking great?⁣
Got your home decluttered, depersonalized, and staged?⁣
Chatted with a realtor about worthwhile upgrades?⁣
⁣
Fist-bump! You’re SO ready for Secret #4 in our 5 Secrets to a Successful Sale! ⁣
⁣
While this one won’t require any elbow grease, it will take a tiny leap of faith. Secret #4 is all about pricing your home to sell — fast.⁣
⁣
Secret #4: Find out what your home is worth, then shave 15-20% off the price to *hopefully* spark a bidding war.⁣
⁣
Sound scary? That’s okay — I’m here to walk you through every step. Here’s why I love this pricing strategy: ⁣
⁣
• Pricing your home just below market value instantly gets buyers’ attention and motivates them to schedule a showing ASAP.⁣
• Once buyers see your home (and LOVE it), they’re more likely to put in an offer if they feel like they’re getting a deal.⁣
• When they realize there are other offers on the table, buyers tend to get competitive and are willing to increase their bid to land the home they want.⁣
⁣
With interest rates at historic lows and a lower than normal inventory, if you're looking to sell, you'll 100% be in the driver’s seat. ⁣
⁣
Curious what your home is worth in today’s market? I’d love to run the numbers for you — just drop me a message.⁣
... See MoreSee Less

Got the kitchen looking great?⁣
Got your home decluttered, depersonalized, and staged?⁣
Chatted with a realtor about worthwhile upgrades?⁣
⁣
Fist-bump! You’re SO ready for Secret #4 in our 5 Secrets to a Successful Sale! ⁣
⁣
While this one won’t require any elbow grease, it will take a tiny leap of faith. Secret #4 is all about pricing your home to sell — fast.⁣
⁣
Secret #4: Find out what your home is worth, then shave 15-20% off the price to *hopefully* spark a bidding war.⁣
⁣
Sound scary? That’s okay — I’m here to walk you through every step. Here’s why I love this pricing strategy: ⁣
⁣
• Pricing your home just below market value instantly gets buyers’ attention and motivates them to schedule a showing ASAP.⁣
• Once buyers see your home (and LOVE it), they’re more likely to put in an offer if they feel like they’re getting a deal.⁣
• When they realize there are other offers on the table, buyers tend to get competitive and are willing to increase their bid to land the home they want.⁣
⁣
With interest rates at historic lows and a lower than normal inventory, if youre looking to sell, youll 100% be in the driver’s seat. ⁣
⁣
Curious what your home is worth in today’s market? I’d love to run the numbers for you — just drop me a message.⁣
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· Share
Share on Facebook Share on Twitter Share on Linked In Share by Email
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Margo Borkin Real Estate
2 weeks ago
Margo Borkin Real Estate

Checking in today to share Secret #3 in my 5 Secrets of a Successful Sale. A quick look back at the past two secrets:⁣
⁣
Secret #1: It’s your kitchen that’ll sell your home.⁣
Secret #2: Declutter, depersonalize, and stage your home. ⁣
⁣
And today…⁣
⁣
Secret #3: DON’T go overboard on upgrades.⁣
⁣
It’s a mistake I’ve seen too many times. ⁣
⁣
In an effort to get top dollar for their home, well-intentioned sellers take on major renovations without consulting a realtor first. Misinformed and assuming they’ll get every dollar back (and then some!), they go overboard on upgrades only to be disappointed at the closing table.⁣
⁣
And while there are upgrades worth doing prior to selling, they’re often quick fixes, not major renovations. ⁣
⁣
If you’re thinking about selling soon, reach out to a realtor who knows your neighborhood and can give you data on the upgrades that matter most to buyers in your area. ⁣
⁣
Not thinking about selling, but know someone who is? Pass this along and save them from the stress, headache, and expense of unnecessary upgrades.
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Checking in today to share Secret #3 in my 5 Secrets of a Successful Sale. A quick look back at the past two secrets:⁣
⁣
Secret #1: It’s your kitchen that’ll sell your home.⁣
Secret #2: Declutter, depersonalize, and stage your home. ⁣
⁣
And today…⁣
⁣
Secret #3: DON’T go overboard on upgrades.⁣
⁣
It’s a mistake I’ve seen too many times. ⁣
⁣
In an effort to get top dollar for their home, well-intentioned sellers take on major renovations without consulting a realtor first. Misinformed and assuming they’ll get every dollar back (and then some!), they go overboard on upgrades only to be disappointed at the closing table.⁣
⁣
And while there are upgrades worth doing prior to selling, they’re often quick fixes, not major renovations. ⁣
⁣
If you’re thinking about selling soon, reach out to a realtor who knows your neighborhood and can give you data on the upgrades that matter most to buyers in your area. ⁣
⁣
Not thinking about selling, but know someone who is? Pass this along and save them from the stress, headache, and expense of unnecessary upgrades.
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