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Keep on top with latest and exclusive updates from our blog on the Los Angeles real estate world. Cindy Bennett Real Estate posts about tips and trends for buyers, sellers, and investors every week. Whether it be about staging your property or a snapshot of the market, this is your one stop shop.

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Should You Sell Your Home As-Is?

"I think I want to sell my house, but I don't feel like doing anything to it. Can I just put a sign in the yard, get it on the market, and be done with this whole thing?" Sometimes when you're a seller, those are the things that come to mind. That's what you really would like to do, right? It's kind of a pain to get your home ready for market. And we're in a seller's market, right? This ought to be easy, your house is pretty nice, just throw a sign in the yard, and let's just get it gone. Before you do that, let's think about the ramifications of putting your home on as is and why you may or may not want to do that. First off, think about the reasons why you might want to put your home on as is. So yeah, that's kind of a pain. But often, people think "I want to go as is", and really, their home doesn't need anything except maybe some paint, some caulk, a little touch-up here and there, it's not that big of a deal. If you don't have time to do some of those things that in a lot of cases can be done by the homeowner, I have a great bunch of resources, handy people and contractors, painters, etc., that can come in and knock those things out in just a couple of days. But let's say it's a financial thing and everything is just a little bit of a bigger deal than the paint, the caulk, and so on. The kitchen is older or whatever. Usually, when you say as is, buyers, especially in this climate of higher interest rates, where buyers are being a little more picky, they're being a little more particular with how they spend their money. When you say as-is people immediately think what's wrong, something's wrong. And it's going to be very expensive for me, and it's going to make them not even come to look at your house. So in most cases, you're going to be better off by just letting it letting it roll. So if you know that you've got some plumbing issues, probably they're going to be, you know, maybe no major, big deal, but it's going to have to be done, you're almost always going to be better off getting someone to do those things before putting your home on the market. Even if you are short on money, and you need to find somebody who's going to let you pay for those things out of the proceeds when you actually sell. But if you do those things ahead of time, then you're going to have a better experience overall. The buyer is going to feel more comfortable purchasing the home and it's going to be a smoother transaction, smoother process, and get it sold faster and usually for more money. So as soon as you say as-is, people immediately think there might be something wrong. But if you just let people have an inspection, remember to disclose if there are actually major issues with your home. If the panel box is sparking, you need to let people know that we are a buyer-beware state, but we do have to disclose material defects or major issues to the home. So if you're aware of them, you have to let people know. And better than letting people know, getting them fixed beforehand. Even if it takes a little bit of money, a little bit of time, a little bit of hassle. Trust me, it'll be worth it in the end. There are certainly cases where selling your home as-is is the way to go. But that's a case-by-case situation. And pricing has a big effect on that too. So if you've just inherited grandma's house, you don't know anything about it. You don't have the time, the bandwidth, the money, the energy to get those things done, as is maybe the way to go, but we're then going to price accordingly. So case by case situation, give me a call, send me a message. Let's set up a time to take a look, talk through it, and see what your options are. If you're in the Richmond metro area, I'd love to help give me a call, and let's get started.

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Why Isn’t My House Selling?!

There are a few reasons why your home might not be selling as quickly as you thought it would or wanted it to. Here are a few of them. Your home isn't easy to show. It doesn't show well. PRICE!! Check out the video above for a deeper explanation of the reasons your home might not be selling. If you have any questions about pricing or getting your home ready to sell, making sure that it moves at the rate that the market is moving, give me a call. I'd love to talk to you walk through and give you some tips on how we can get your home sold for the most amount in the least amount of time with the least hassle for you. Let's talk.

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Top Tips for Sellers: What Not to Leave Behind When Moving Out

We talk a lot about things that you want to make sure you take away, if you don't want the buyers to have that item, whether it's a chandelier, or a piece of shrubbery, or the tree you planted when your child was born. You want to get those things out of the picture out of the equation before buyers look at it so that they don't get tempted and want those things and it feels like a negative when you remove them. But what we don't talk about as much is what do you leave for the buyers? What are the things that are okay to leave? And what are the things that you really need to move on out of the house. Check out the video above to find out what you should do with the things you don't want to keep before you move out.

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What You Need to Disclose When Selling in Central Virginia

If you're selling a home in the state of Virginia, what do you need to disclose? If you have ever sold a home in another state, bought a home in another state, you may be familiar with the copious amounts of paperwork that require you to disclose every little detail about your house, and if you've ever had a problem, if you've never had a problem, or if you don't know. In the state of Virginia, we have a one page document called the residential property disclosure, and it really is just a disclaimer, saying as far as I know, everything's good. But hold on just a second, because if you know of material defects to your home, before you sell it, you do need to disclose those to the buyer. And I know it sounds kind of like a gray area, like what is the material defect anyway, but think about the things that would matter to you if you were buying a home. You don't want to buy a home, only to discover that the basement fills up with water every time it rains. That is something you need to disclose. You don't want to buy a home and find out that every time you turn the lights on in the family room, the electrical panel arcs. Those are major issues. They are material defects that need to be fixed or repaired. So you do need to disclose those or better yet, just fix them before you go on the market. Remember, whether you're buying or selling in the state of Virginia, inspections are the buyers responsibility and I always use this as a as a good example of why this rule works. The little old couple that has lived in the house for 40 years, they may never take a bath. They each take one shower a day they sell the home, they think everything is fine. The family moves in with four kids back to back to back to back baths and the bathtub leaks. Well, the little old couple had no idea because they never used the house in that way. So this is why I like our rules better than the rules in some other states. But being aware of what you're purchasing, being aware of what you're selling goes a long way to making a successful transaction. If you have questions about what's a material defect? What do I need to disclose when I'm selling my house, give me a call. Let's talk and walk you through whether you should fix it, disclose it, repair it, or sell it as is with that disclosure in place. Give me a call send, me an email, shoot me a message and let's talk.

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Wait a Minute…I Don’t Want to Sell That with My House

If you're thinking about selling your home and you have things, especially in your yard, you might be thinking, they're not going to care if I take my great grandmother's prized hydrangea that I moved to my house 10 years ago, think again. Anything, and that goes from the chandelier in your dining room to the shrubs that you brought from the old home, anything that you don't want to convey, it is always better for you to get that out of the house before it goes to market. If you get it out before you go to market, you erase any possibility that the buyer is going to want that item that you have decided you want to take with you where you are going. So make sure that before you go, putting a sign in your yard, you've done a thorough walkthrough of yeah, both the yard and the inside of the house to ensure that anything you want to take is removed and not tempting to the buyer. Once upon a time, I had sellers sell a home, didn't tell them this, they dug up all of the shrubs out front because they had just bought them and filled all of the holes with dead leaves. What happens in that instance? Closing can be delayed. It obviously causes some strife between buyer and seller, and was it worth the price of those little tiny boxwoods? I'm not so sure. So, better to be safe than sorry and make sure that you have covered everything you want to go with you and clear it with the buyer if it's something they saw beforehand. So if you want to know what can stay, what should leave, what you need to notify your purchaser of and you're thinking of selling your home this spring and summer, give me a call and we can walk through all of those circumstances to make sure that you not only get a contract but you get it to closing and you close on time.

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How Long Will It Take to Sell Your Home?

As we head into the busiest season for real estate, the spring and summer market, one of the questions I get asked all the time is how long it takes to sell a home from start to finish. And I usually have a question back when someone asks me that, and that is, what are your plans? What are your goals, let's take a look at your house, because it depends. In the video above I talk about a general timeline that you might experience, as well as some things that may change a "standard" timeline.

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What Even is a Rent Back?

So you want to buy or sell a house, but you need a little breathing room and you don't know how you're going to work, the timing of that whole situation, especially in this market, what do you do? One way that we often handle these logistics of literally moving targets with closing dates, times moving trucks, people moving in people moving out is with a possession by seller or possession by purchaser agreement. But what are those? You may have heard that term, and sometimes the possession by the seller is actually called a rent back. That's our common vernacular for that document, or that situation. And it's called a rent back because basically, you as the seller are renting back your house after you close and the purchaser actually owns it. We do have another thing called a possession by the purchaser. That is very, very seldom used, because there are a lot of risks involved in letting a purchaser move into your house before you are actually close as you can imagine, they move in and they start putting wallpaper up or demoing the kitchen, and some reason, their deal does not close and you're stuck with whatever they did when they were in your house and you're also kind of stuck with them in your house, and you may accidentally become a landlord. We don't use those very often. The way that the possession by the seller works is literally just like the way you would rent a property. So you own the house, you know, you're going to close on, say the 10th of the month, but you need to stay in for an extra week or two, we're going to have a whole document that's basically a rental agreement where the purchaser closes, and then you're going to be renting that house back from them for the next week or two weeks, whatever. There is usually a deposit just in case you damage anything while you're moving or getting all your stuff out. And you are going to have to cover that if that happens. There's generally a per diem amount as well. So if you go past that, say, you're supposed to close on your new construction, this is one where sometimes the closing dates don't really line up the way we want them to say you're closing on new construction on the fifth of the month. And that's when your rent back ends on the house that you're leaving. But the builder isn't ready until the 10th, so you may have to pay extra, then for those additional days that you stay, or you may just have to beat it because sometimes the agreement was you're going to be out on the fifth and sometimes that's just what has to happen. All of this can get really confusing and sound really confusing. In reality, it's not that confusing, but a lot of it goes back to having a plan before you put your house on the market before you write the contract for the house that you fall in love with making sure that you sit down with your agent and kind of plan out that whole scenario. Sometimes hard when you're really emotional about this process or you're looking at all the other moving parts, but the times and the dates and all of that good stuff really get important, so having that plan is really key. I'd love to explain to you how that might work for you, so just give me a call send me an email, send me a message, and let's set up a time to chat.

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Top Tips for Selling Your Home with Pets

So what do I do with my dog or my cat or my ferret or my bird or whatever if I'm getting ready to show my house? Your pets themselves. The physical beings. Make sure that you either have your, especially dogs, make sure that you have them created or in a comfortable spot where the potential buyers can actually see the home, but your animals are not going to be underfoot, scaring people, potentially running out the door, or anything else. My best advice, give them to a friend or family member or board them for a couple of days, at least when you first start the showing process. Get the dog hair off of everything. If you have pets that make a mess, or you've got dog toys, or cat toys, or giant cat towers everywhere that are distracting for a potential buyer, get those out of the way. Do a deep clean. Get the evidence of your lovely fur babies out of the way so that people can make an objective decision on their own. I'm going to go back to that same thing from number two and reiterate the cleaning. Lots and lots of people will run the vacuum and think that's good enough but I'm telling you a deep clean will really make a difference and get away some of the smells that we sometimes as they say become nose blind to. That goes to the backyard too. Trust me nobody wants to take a look at their potential new backyard and find that they have stepped on something on the way back into your house. That's not good for anybody. Trust me. If you're thinking of selling following these tips are really going to help you get your home on the market if you do have pets. It will make it easier for people to see your house for people to show your house and for your pets to not have to deal with strangers coming in all the time. If you have any more questions, I'd love to help you get your home ready and your pets ready to make the move that you want to make.  

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Top Ten Spring Projects to Add Value to Your Home

Something about spring just inspires projects, for me at least. Whether you're selling or you just want to enjoy your home more, there are loads of low-cost home improvement projects that can provide a high return on investment. Here are my top 10 ways to add value to your home with a low investment and high return in Spring 2023. Add a Fresh Coat of Paint One of the easiest and most affordable ways to add value to your home is by painting the interior and/or exterior. A fresh coat of paint can instantly make your home look newer and more appealing to potential buyers. Upgrade Your Lighting Installing new light fixtures can make a big impact on the look and feel of your home. Consider replacing outdated fixtures with modern and energy-efficient options that can brighten up your space. Improve Your Landscaping A well-maintained lawn and garden can significantly improve your home's curb appeal. Consider adding some colorful flowers, planting new trees or shrubs, and trimming any overgrown bushes. Update Your Kitchen Hardware Upgrading your kitchen hardware, such as cabinet knobs and drawer pulls, can make your kitchen look newer and more modern. This is an affordable way to add value to your home without having to do a complete kitchen renovation. Add Some Outdoor Lighting Outdoor lighting can enhance the appearance of your home's exterior while also providing safety and security. Consider installing solar-powered pathway lights, string lights, or floodlights to illuminate your outdoor living spaces. Replace Your Front Door Replacing your front door with a new, energy-efficient one can make a big impact on your home's curb appeal. Choose a door that complements the style of your home and adds a pop of color to make it stand out. Add a Backsplash to Your Kitchen A stylish backsplash can transform the look of your kitchen without breaking the bank. Consider installing a tile or mosaic backsplash to add color and texture to your space. Upgrade Your Bathroom Fixtures Replacing old bathroom fixtures, such as faucets, showerheads, and towel racks, can give your bathroom a modern and updated look. This is an easy and affordable way to add value to your home. Clean and Organize Your Garage A clean and organized garage can make a big impact on potential buyers. Consider adding shelves or storage bins to keep your garage tidy and clutter-free. Replace Your Window Treatments Upgrading your window treatments can add a touch of style to your home while also improving energy efficiency. Consider replacing old curtains with blinds or shades that are both functional and stylish. By making small upgrades such as painting, upgrading lighting fixtures, and improving landscaping, you can make your home more attractive to potential buyers (or yourself!) without having to spend a lot of money.

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Richmond Real Estate Market Update – April/May 2023

Well, spring is in full swing now, and April showers may have brought flowers, but they certainly didn't bring lots of real estate inventory. Things are still moving quickly, so here's a bit of a recap: The average sales price for our entire MLS area was $402,414 in April. That's up from $403,244 last April, and a good jump from March of this year at $386,797. The price stability and increases really are largely due to the lack of supply in the market. Rates have certainly risen since last year, but for the most part, it hasn't pushed many people out of the market. Our inventory as April closed out stood at 1933 homes for sale, down from 2203 in March, and down from 2022 in April of last year. Supply is just not where we need it to be (frankly, in either rentals or sales) and the demand is definitely out there. As I've said before, the market is considered to be balanced at 6 months supply of inventory, and while we're definitely better than we have been (February '22 had us as low as .7 month), we are still only at 1.2 months. That means that if no other homes came on the market, it would take 1.2 months for the supply to be exhausted. That's not much. What does this all mean for you if you're looking to sell? What about buying? Is it just a crazy time to do that?? These questions are both so unique to your own situation, I always hesitate saying, "it's a great/bad time to sell/buy," to a degree, regardless of the market. What I can say, though, is that if you've been contemplating selling and you thought the market was going to drop as rates went up, that hasn't proven to be true. In most areas, we are still very decidedly in a seller's market, so no doubt that it's a good time to sell. If you're thinking of buying, and it's a great time for you otherwise- new job, lease is up, new baby, new job...whatever, it's not a terrible time to buy- prices do not have the same upward pressure that they had a year ago. Yes, we're seeing multiple offer scenarios, but not every house, not every time, and often not as insane as the offers were last spring. We are seeing more inspections, more appraisals, and a bit more negotiations on some homes. But, it's not the time to drag your feet if you're looking. It's a good time to really know what your negotiables and must haves are, and work with an agent with a solid grasp on the market (like me) that will tell you what they think will get the home you want, rather than just guessing. Keep in mind, too, that there is no perfect market. If rates are lower, prices will be higher, and vice versa. It's nearly impossible to time the market, too. So if it's a good time FOR YOU, it's probably a good time. If you have questions about buying or selling in this market, reach out. I'd love to talk to you and help you determine if it's a great time for YOU.

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