Realty Executives Midwest
There is nothing quite like a big move to spur a reassessment of everything you own. As you begin preparing to pack, you’ll likely discover a myriad of items you no longer need or want. Don’t just toss the things you won’t be bringing to your new home. Instead, it is time to plan a mega garage sale. A pre-moving garage sale is an excellent way to declutter, reduce moving costs, and even earn extra cash to help with your moving expenses.
Pulling off a successful garage sale takes time, effort, and good planning. To start, choose the right day or time for your event. If your community or neighborhood already hosts a yearly garage sale event or swap meet, hitch your garage sale wagon to that train if the dates work for you. Otherwise, Saturdays are usually the most popular day to host a garage sale.
Start your sale early, around 7 or 8 AM, to attract early bird shoppers and make the most of the day. Most garage sales wrap up around noon or 1 PM. As the day gets closer, double-check the weather. If it looks like rain, storms, or extreme weather is coming your way, consider moving your garage sale to a different weekend. Poor weather keeps potential shoppers at home and can drag down your sales.
Finally, if you live in an HOA, check the rules to make sure you are allowed to host a garage sale. You may need to request a permit or adhere to specific rules and guidelines.
Now that you have a date for your pre-moving garage sale, it is time to decide what you want to sell. This can also be a great opportunity to start organizing items for your move and deciding what (if anything) you want to move into self-storage (learn about common storage FAQs).
Go room by room and sort every item into one of several categories. Your categories may vary, but we suggest:
Be ruthless in your decision-making. If you have not used an item in a year or two or if it no longer serves you, put it in the “sell” pile. Remember, the more items you sell at your garage sale, the fewer things you will have to pack and haul to your new home.
As you sort through your belongings, set aside and dispose of any items that are broken, damaged, or heavily worn. Once you decide what to sell, check, clean, and repair each item as needed. Make sure all electronics work, games include all their pieces, and clothes do not have holes or stains.
Be realistic and price your items to sell. People who visit garage sales are looking for good deals. If you are not sure what to price your items, a good rule of thumb is to price at least 50% below what you originally paid for them. You can also check Facebook Marketplace, OfferUp, eBay, and Craigslist to see what comparable items are selling for.
Place clear, easy-to-read price tags or stickers on every item. Be prepared to negotiate, as many garage sale shoppers love to haggle, but always keep a firm minimum price in mind for every item.
On the day of your garage sale, get up extra early and spend time setting out and displaying your items. Presentation matters. Your tables should look neat, not cluttered. Avoid piling or stacking items, like books, clothes, and games. If you can, display clothes on a clothing rack, set out shoes in pairs, and line up books, games, and puzzles.
Group like items together and use clear signage to indicate prices and categories. Consider eye-catching displays, such as showcasing a unique item on a decorative table. Get creative and help your garage sale stand apart.
It would be sad if you put in all the work and effort to host a pre-move garage sale only to have no one show up. If you happen to be participating in a neighborhood garage sale event or local swap meet, the event’s organizer should manage most of the promotion. Otherwise, it is up to you to get the word out.
Begin by promoting your garage sale online. Places to list your sale include:
When promoting your sale, highlight that it is a moving sale, which often implies a bigger sale with a wider array of items. Include your address, the time of your garage sale, and any notable items you will be selling. Post pictures if possible. Reach out to local friends and family members and encourage them to share the news with their networks.
Creating eye-catching signs is one of the most effective ways to promote your garage sale. Make your signs big, colorful, and easy to read. Write in large, thick letters so your signs will be readable to people driving down the road. Include a big headline announcing your moving sale, address, and the time of your sale.
Put your signs at the front of your neighborhood and along nearby intersections and busy roads. Use signs with arrows to guide drivers to your home, especially if you live out of the way or in a large subdivision.
Finally, put your signs up a few days before your garage sale so people have time to plan a visit.
The big day is here. You have already done all your marketing, gotten up early to set out your items, and made sure your things are well-organized and clearly priced. Now, it is time to focus on running a smooth and successful garage sale.
Set up a cashier’s table in a central location where you can greet visitors, answer questions, and handle transactions. Keep plenty of change on hand, including small bills and coins. Price items in increments that are easy to make change for, like $0.25, $0.50, $1, $5, $10, etc.
Many younger shoppers prefer using payment apps like Venmo and Zelle instead of carrying cash. Savvy garage sale hosts can cater to these shoppers by opening accounts and displaying printed sheets with payment app QR codes at the cashier stand.
Greet visitors to your garage sale and let them know you are happy to answer any questions about the condition, origin, and age of your items. Remember, many garage sale shoppers are hunting for a good deal, so be prepared to negotiate and haggle. Always be friendly. It is okay to politely decline a lowball offer and suggest a higher price. Toward the end of your garage sale, consider offering bigger discounts to get rid of the things that are not selling.
Congratulations! You have made it through your pre-move garage sale. Hopefully, you were able to successfully rehome your unwanted possessions and make a little extra cash in the process. Now you can move forward with deciding what to do with any unsold items.
If you still think you can sell the items, consider posting them on Facebook Marketplace, OfferUp, or other online sales platforms. Price them to sell quickly, especially if your moving date is quickly approaching.
For everything else, a great option is to donate to a local charity or thrift store. Many organizations will arrange to pick up donations from your home. If you have anything you cannot donate or sell, your final option is to dispose of the items responsibly.
With your garage sale complete and remaining items taken care of, it is time to focus your attention on preparing for your big move. Hopefully, your home is a little less cluttered, and you have extra cash in your pocket to help cover your moving expenses.
Good luck with your move!
Source: Realty Executives
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. NAR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
Here is what the settlement means for homebuyers:
Here is what the settlement doesn’t change:
As a home seller, you have a wide range of choices when it comes to listing your home. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate this complex process and make the choices that work best for you. NAR’s recent settlement has led to several changes related to broker commissions that benefit sellers, and we wanted to clearly lay them out for you.
Here is what the settlement means for home sellers:
Here is what the settlement doesn’t change:
These settlement practice changes will go into effect August 17. More details about these changes and what they mean can be found at facts.realtor.
Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference.
While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With a trusted expert leading you through every step, you can navigate the process with the clarity and confidence you deserve.
Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.
Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now.
Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction.
Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way.
Pricing – A real estate professional understands current real estate values when setting the price of your home or helping you make an offer to purchase one. Pricing matters more than ever right now, so having expert advice will help ensure you’re set up for success.
A real estate agent is a crucial guide through this challenging market, but not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success.
Finding an expert real estate advisor – not just any agent – should be your top priority if you want to buy or sell a home. As Bankrate says:
“Real estate is very localized, and you want someone who’s extremely knowledgeable about the market in your specific area. You should also look for someone with a successful track record of negotiating and closing deals, preferably for homes similar to the kind you want to buy.”
Like any relationship, it starts with trust. You’ll want to know you can depend on that person to always put you and your best interests first. That means hiring a true professional. As Business Insider explains:
“As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut when making your final decision on which real estate agent you want to work with. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.”
It’s critical to have an expert on your side who’s well-versed in navigating today’s housing market dynamics. If you’re planning to buy or sell a home this year, connect with a real estate professional who will give you the best advice and guide you along the way.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains:
“Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”
It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for.
And there are a lot of homes that need upgrades right now. Millions are entering their prime remodel years, meaning they’re between 20 and 39 years old. Maybe yours is one of them. According to John Burns Research and Consulting (JBRC), the number of homes in their prime remodel years is high and growing (see graph below):
If your house falls into this category, it’s important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money?
By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart investment. Put simply, not all upgrades are worth the cost. As Bankrate says:
“Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money.”
And, as that same Bankrate article goes on to say, that’s where a local real estate agent comes in:
“. . . a good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.”
Your agent will know what buyers in your area are looking for and what they’re willing to pay for it. By working together, you can avoid spending money on upgrades that won’t pay off. Instead, they’ll fill you in on which changes will make your house more appealing and valuable.
Selling a house right now requires more than just putting up a For Sale sign. You need to make sure it’s in good condition to attract buyers who are willing to pay today’s high prices.
The way to do that is by making smart improvements that will give you the best return on your investment. Work with a local real estate agent so you know what buyers are looking for and what your house needs before selling.
When you apply for a mortgage, your debt-to-income ratio (DTI) will play a vital role. The mortgage lenders will review your credit profile and check the DTI ratio to assess your affordability. So, the debt-to-income ratio will indicate how much debt you carry, such as credit card balances, payday loans, medical bills, personal loans, and utility bills against your monthly income.
Most borrowers know how much their credit score is, which is essential to show their credit affordability. However, many of us need to learn that, like credit score, the debt-to-income ratio will also affect your mortgage loan or credit approval.
When you take out a loan to buy your residential home, vacation home, or rental home, it will be called a mortgage.
The mortgage interest rate depends on the lender and other factors such as your credit rating, earning levels, and, most importantly, the debt-to-income ratio. Now, let’s discuss how the debt-to-income ratio impacts your ability to get a mortgage.
There are two types of debt-to-income ratios that most lenders accept while reviewing mortgage applications:
As discussed in the introductory paragraph, the lender can assume the risk factor from the DTI ratio before providing a home loan to a borrower. If the borrower’s debt is too high, the borrower can default on the loan amount.
Usually, the lenders follow a rule that the borrower can have a home loan if the DTI ratio is a maximum of 43% of the particular borrower.
So, a borrower who needs a home loan should repay some debt first. This will help the borrower reduce the DTI (debt-to-income) ratio. Thus, the borrower can qualify for a home loan with a favorable interest rate.
Before approving a home loan, lenders check credit scores, which largely depend on the credit utilization ratio. The credit utilization ratio means you have utilized up to what percentage of your credit limit.
Your credit score will be low if you borrow closer to your limit. Thus, your chances of getting approved for a home loan with a favorable interest rate will be lower.
Paying off at least a portion of your credit card debt is a strategy you should adopt. It will help you lower your credit utilization ratio and get approved for a mortgage with a favorable interest rate.
Remember that your income is limited. Manage your spending and card debt payments with this income. With the monthly mortgage loan payment, a new debt burden will be included in your income. Thus, if you pay off the credit card debts, you will have less debt payment on your shoulders.
When you apply for a home loan, the lender will check your credit score and DTI ratio. The interest rate of your home loan will depend on your credit score and the DTI ratio. The lower the lender will offer you an interest rate, the quicker you can pay off the principal balance.
A home buyer should calculate the mortgage loan amount that he or she will have to pay so that he or she may be able to repay the home loan within a definite period.
Fixed-rate mortgage loans are most common among first-time home buyers. A first-time buyer usually takes out this loan for 15 to 30 years. As such, even if the interest rate changes in the market, you will enjoy paying a fixed interest rate on your loan amount.
This is common among home buyers who would like to pay less initially but agree to accept a change in mortgage payment in the future. This change in mortgage payment may either increase or decrease according to the variation in market interest rate. By choosing this type of mortgage loan, the home buyer will have to make a high mortgage payment in the future if, by chance, the interest rate rises suddenly.
With the help of an interest-only mortgage loan, you pay only the interest on the loan amount you’ve taken out for a specific period. During this period, you do not have to pay the principal amount. But once the interest-only period ends, your payment amount increases with the repayment of the principal amount. This loan is helpful for those people who earn money on a commission basis.
Your high debt-to-income ratio may create issues when you apply for a home mortgage. The higher your DTI, the more likely you may face problems. The lender will only entertain your mortgage loan application if you take significant steps to lower it as soon as possible.
So, here are some steps that you may follow to reduce your DTI:
Whether or not you can afford a home loan payment, your lender will come to know about it when they check your credit score and DTI ratio. When you show an impressive credit score and DTI ratio to your lender, chances are you can get a home loan with a favorable interest rate. Thus, paying off your credit card debt before applying for a mortgage is important.
source: Realty Executives
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
