The Property Must Sell

Sellers have different reasons for listing their property. Often times the situation is not dire, they simply want to be in a different neighborhood, area of town, or would like more space. If their house does not sell, they may be disappointed, but not necessarily in a bad spot.


However, there are many scenarios where the property must sell and owner's are feeling the pressure. For example, relocation, estate sales, medical issues, and job loss.


There are a few things to understand when selling under pressure. The sale price of the home years ago has no relevance today. Improvements that have been made will not bring back a dollar for dollar return. And improvements such as a roof, driveway, new furnace will make the property easier to sell but will not ensure a higher sale price.


It is important to keep in mind that a buyer will not pay a premium price simply because the seller feels their home is worth a certain amount.


If you are facing a deadline to sell, the Comparative Market Analysis (CMA) provided by your agent is the key to determining the initial list price because it reflects the average sale price - not list price. To sell quickly and stay ahead of the competition a seller should list the property below the average sale price or market value. Market value is what the buyer is willing to pay for a house. It is important to look at recent sales because a house that sold even a year ago may not reflect current market value.


If you need a quick sale, the best approach is to list under market value. An under priced home will seem like a bargain and attract more attention. It is always better to sell low sooner than to reduce the price and sell low later.


*image provided by google images

Cost v. Return

What improvements give you the biggest return on investment? This can be a tough question to answer and quantify, however there are some definite ways to improve a property that will get a seller a better sale price.

HomeGain did their annual home improvement and staging survey. The marketing company surveyed nearly 600 real estate professionals to find out which DIY home improvement projects give sellers the biggest return on investment


The following are six projects under $1000 (amounts estimated) that made their list:

1) Cleaning and de-cluttering - Remove any personal items, clear off counter tops, organize closets and shelves, and make home sparkling clean


Cost $50-300
Return- $ 1,990

2) Brightening- Clean all windows inside and out, replace old curtains/blinds, update lighting fixtures, and remove any thing that blocks light from the windows (ie: china cabinet, bed frame)

Cost- $375
Return- $ 1,550

3) Smart staging- rearrange furniture, remove furniture to make room seem bigger and create a good flow, bring in new accessories and furnishings (could be from other rooms in the house) to enhance rooms.

Cost- FREE
Return- $2194

4) Landscaping enhancements- To create curb appeal and freshen up back yard add mulch, bushes and flowers. Maintain lawn and current plantings well.

Cost- $540
Return- $1,932

5) Repairing electrical or plumbing- Fix leaks under sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home's electrical with new wiring for modern appliances, fix any lights or outlets that do not work, and replace old plug points with new safety features.

Cost- $535
Return- $1,505

6) Replacing or shampooing dirty carpets- steam clean carpets, replace worn carpets, and repair any floor creaks.

Cost- $647
Return - $1,739

Other ideas for simple staging:
1) fresh flowers
2) sheer curtains
3) area rugs
4) outdoor furniture on decks and patios (even in winter)
5) bowl of fresh fruit in kitchen or dining room
6) new house numbers
7) new mailbox
8) wreath on front door






*image provided by google images

Improvements for Saleability

When thinking of make improvements to your home, be very thoughtful as to where you are spending your money as well as time and energy.

If you are prepping your home for sale or know that you will not be in a home for more than a few years, it is important to understand what really adds value (money you may be able to recoup) and improvements that are necessary to make to ensure a quicker sale at a better price.

Many people make the mistake of spending money on their homes that they think will allow them to raise the potential list price. However, maintenance issues that come with every house such as exterior paint, roofs, driveway repair, and electric or plumbing issues that need to be resolved don't necessarily allow a homeowner to ask for more money with selling their. These items are called deferred maintenance. Buyers, especially today expect these things to be taken care of by the previous owner. They are not generally looked at as adding value but more as enhancing the overall saleability of the house.

Without maintaining the property, a seller is facing the lack of serious buyers, "low-ball" offers, or minimal prospective buyers willing to even view the property.

That aside there are improvements to be made that can allow a seller to add value to their property. Taking down wall paper and freshly painting rooms is not costly but makes any home more appealing. Ripping up old carpet and exposing hardwood floors is a huge plus. If the floors need to be refinished, it is recommended to spend some money doing this task and finishing the job with shoe moldings. Gleaming hardwood floors make the house look fresh and clean.

Outdated kitchens and baths are a huge sticking point with buyers. Remodeling these rooms does add value but you never get 100% return on your investment. In a kitchen it may be wise to choose parts of the kitchen that can be changed such as a new floor and back splash but leaving the cabinetry as is or perhaps painting it and adding new hardware.

Bathrooms are extremely costly to remodel. While a new bathroom will add value and will be very appealing to buyers, it may be risky to spend a lot of money to update a bathroom. This is a choice to be made very carefully perhaps with the help of a Realtor.

A seller has to ask themselves where is the best place to spend their money to improve saleability. Often times the answer is by taking care of deferred maintenance issues which can result in receiving a purchase offer closer to your asking price in a quicker amount of time.


Spending time and money to "clean up" the home and property is the most effective way to add value. Putting in all new windows- again, while attractive to buyers - will not give you a good return on investment.

In a real estate market where values are falling and there is an over abundance of homes on the market, sellers must be very conscientious of how to make their property stand out and increase traffic. It is extremely difficult in this market to get an offer. The goal is to get an offer from a buyer who really wants the property and is willing to pay a good price for the listing.

It is hard to sell any property as the homeowner because of the memories, time spent taking care of the home, and making improvements that you believe add value and should be appealing to potential buyers. Once the house hits the market many sellers are finding themselves disappointed by the reaction of buyers.

It is important to try and not be discouraged. Patience is key in a slow market. Listen to the advisement of your Realtor. Retain the feedback, and if there is something a seller can do once buyers have viewed the property consult with your Realtor as to whether it is necessary to make any changes to appease buyers.

*image provided by Google images

The Specialty of Specializing

Walther REALTORS is proud to say that for 40 years we have been doing business with the residents of Monroe County. Being hired to facilitate the sale or purchase of a home is a huge responsibility. We are honored that so many people, sometimes multiple times have given us the opportunity to be their REALTOR. Throughout the years our office has become known as one who specializes in Irondequoit, Rochester and the northern suburbs. We formed a niche as an office that is extremely knowledgeable of Irondequoit– it’s homes, residents, schools, businesses and amenities.

From testimonials we have received feedback over the years that we provide excellent customer service, are attentive to our clients and customers needs, and our vast knowledge of the area makes us competitive. We specialize in Irondequoit, however a good REALTOR is one who knows the business, understands what buyers and sellers need, and helps make transactions go smoothly and close!

Examining each transaction whether it be in the suburb of Penfield or the city of Rochester, we focus on our agent’s capacity to serve the needs of the client.

We are proud to have our roots in Irondequoit. Our knowledge is unparalleled in the Rochester real estate market. We are also proud that customers and clients from all over the Monroe county area call us, refer us, and hire us to sell their property or purchase a home.

Think of your favorite restaurant. They have an amazing dish that gets people talking and in the door. There is also a complete menu of other items that are equally as popular and keep customers coming back. Success comes from being versatile, listening to your customers, and finding that one thing that makes you stand out.

Thank you for supporting us since 1971 and believing in the necessity of the small business and its place in the community. We appreciate all of our past, present, and future customers.

Why Isn't That House Selling?

We hear this remakr all the time. "Something must be wrong with that house. It's been on the market for months."

In some cases, there are obvious reasons why a property has not sold- the list price started out too high, it needs things like a roof or is dated, or it is a unique property in need of a particular buyer like a home with an in-law set-up.

However, in the majority of cases at this time, houses are sitting on the market because there are fewer buyers looking to purchase a home. When the credit crisis hit and the nation saw banks and lending institutions closing left and right, the requirements for buying a house ie: good credit scores weeded out a vast majority of prospective buyers.

People with credit problems and insufficient cash to close found themselves locked out of the opportunity to get a mortgage. With banks having stricter policies to be approved for a mortgage the buyers that are able to get financing tend to be serious buyers. They are out looking at properties and they want to buy, especially to take advantage of the record low interest rates.

We have rebounded somewhat from the credit crisis. Prospective buyers from 2010 have been working on their credit and depending on how in depth their problems were, they may see resolve soon and will now be able to get financing.

But the lack of buyers is also due to the fact that people are nervous. They are anxious to make big purchases, upgrade for fear of job loss, the stock market, and other variables. We have seen an increase in activity in the Rochester market. This is a great sign not only for real estate but for the national economy. The status of the real estate market is a key indicator to our economy as a whole. If people are not purchasing properties (a very large investment) then they are probably not spending money on other things such as vacations, cars, home improvements.

There are many houses on the market right now. Buyers and sellers tend to get nervous about this. "Why are so many houses for sale?"

The answer is simple- despite a tough economy life goes on. People are downsizing due to age or personal finances, death, relocating, upgrading due to increase in family size. We are also in the "spring" market which tends to be busier because leases for apartments come up in late spring, people want to be settled in their new home for the upcoming school year, and in this part of the country we are unburied from our difficult winters.

Bottom line is that if you are looking to purchase, don't discredit a property simply because it has been for sale for what you deem a long time. Most often there is not a cut and dry explanation as to why a property has not sold. There is a buyer for every house. Maybe that cape-cod you've had your eye on for a few weeks is the one for you!

*image provided by Google images

Expectations When Listing Your Property

The housing market in Rochester has not seen the drastic dips in property values like other places of the country. However, our home values have dropped. If you purchased your home less than 7 or even 10 years ago, it may be very difficult to get much more than you paid for it.

There are a few reasons for this. Rochester values only increased on average 3% per year. The recession has stalled those numbers and given us a stagnent market. Purchasing a property that was dilapidated and in need of some serious overhauling and getting it for way under market value may be one of the few ways to see an increase in what the market will bear at this point. Even then you have to look at the money you put into the property and weigh what allows you to list the house at a certain price. For example, putting a new roof on a home does not necessarily add value but it allows the homeowner to sell their home with less hassle. Buyers do not want to take on a previous homeowners deferred maintenance.

Determining your list price with the help of a real estate agent is the number one way to get your house sold. More and more agents are having to tell homeowners that the list price or sale price they had in mind may not be possible. Buyers determine the value of a property and one of our biggest problems right now is the lack of buyers. Many listings and few buyers mean that if a buyer thinks your house is overpriced or needs too much "work," they will move on to plenty of other potential listings for them to buy.

What to expect when listing?

Have patience.

There are some homeowners who are selling their properties rather quickly (within 2-3 weeks). But that is not the truth for the majority. This does not necessarily reflect the condition of the home but the simple fact that it is taking longer to find a buyer.

Get your home in shape.

Now more than ever homeowners need to step it up with repairs and overall appearance of the property before putting in on the market. Don't wait to get the "feedback" from buyers that the carpet is worn, the rooms need to be painted, or there is too much clutter. In a fickle market with buyer's who do not have a sense of urgency, you may only get one shot to make that first impression.

Look at the comparable sales.

What the current market is showing in terms of home sale prices and days on market will be a reflection on selling your own home. Even though each property is different, the same rules apply. The buyer has the advantage. If you list your house properly from day one, you have a better chance of getting a price closer to what your "bottom line" is and selling in fewer days or months.

Condition and price. Condition and price. The 2 most important things when selling a property.

Spring Prep

Now more than ever it is important to have your property in top-knotch condition when putting it on the market. There are many inexpensive things a homeowner can do to get their property in shape before being viewed by prospective buyers.

• Clean the windows- for crystal clear glass sponge on then squeegee off soapy water. Use horizontal strokes on one side of the pane and vertical strokes on the other to make streaks easier to spot. Buff out small scratches with toothpaste. To remove paint specks or sticky lables, dampen and scrape off with a plastic razor blade

• Renail gutters- If your gutters are sagging, one of the spikes that secure them to the fascia board may have come loose.

• Deep clean the house-

Here are some surprisingly good cleaning agents: 1) Baby wipes- use fragrance free wips to eliminate dust and dirt from antique furniture without marring fine finishes 2) Ketchup- polish dusty or dull spots in a copper sink. Ketchup acts as a mild acid. Sponge clean. 3) Nail-polish remover- Erase everything from paint splotches to ink stains from laminate floors by adding a few drops of an acetone formula to a rage and spot cleaning 4) Oven cleaner- dissolve drain stains on a white enameled cast-iron tub witha coat of oven cleaner. Let sit for an hour or two and then scrub with steel wool.

• Add to your curb appeal

Make buyers want to come inside the house. Changing the color of shutters and the front door can create a whole new look for your property. Add a wreath and welcome mat to polish off the entry. Create more depth on the facade of your house by adding window boxes and shutters.

Liven up your landscaping- Prune and trim shrubbery, remove dead or unsighlty bushes. Add a splash of color to front gardens. Hanging baskets and planters at the entry or on a patio or deck make the home seem more inviting.

These are just some examples of simple ways to make your property stand out. With a large amount of houses on the market, you want buyers to keep your home on their list and potentially come back for a second look- and make an offer!