Think the Zestimate is accurate for the home you are trying to buy or sell? If so, think again.
I priced a home that I was listing at $2.4 million. When I looked up the Zestimate, Zillow had it valued at $1.4 million. Many phone calls and emails later, they changed the Zestimate to $2.3 million. We all know perception is often people’s reality. So, what Zillow says about your home when you’re trying to sell unfortunately makes a difference. If a realtor named Cara from the Detroit area can convince Zillow to bump up a value by $1 million and Zillow’s CEO sold his home for 60% of the Zestimate, nothing more needs to be said about the accuracy of their pricing methods. Call or text anytime 312-545-8428
My lifestyle videos help potential buyers envision themselves living in the home, creating an emotional connection to what they see. Getting & keeping the right eyeballs is vital. Below is why. Click here for examples.
– 80% of online consumption is video. Hmmm – Is a curated, quality lifestyle video important when selling one of your biggest assets? Should this video be used for targeting buyers in a paid advertising campaign? Absolutely.
– People buy a home for the physical structure, of course, but the land is just as important. Think about it, you could have bought/built the exact same house, just 30 minutes away, for a lot less money. Why didn’t you? Because of the lifestyle the land and community offered.
– 20% of homes are bought by people outside of Michigan. I’m able to put the video in front of targeted buyers, in the places that are sending the most people to metro Detroit. I do this with targeted, paid YouTube ads. YouTube is the second most utilized search engine, right after Google.
– My job is getting your home in front of right eyeballs AND keeping them looking until they want to visit. Netting you the most money is not achieved by throwing the professional photos online, just as they came from the photographer. It’s also not achieved by a boring walkthrough video that just sits on Zillow and the MLS.
– Buyers have the attention span of a gnat. If they don’t like the looks of your home within the first 8 photos or first 30 seconds of a video, they are on to the next house.
My fiduciary duty is to sell my listings like they are my own assets. I would spend a lot of time and money publicly marketing my own home. I would harness my marketing and negotiating skills derived from servicing the Forbes 400 list while at Northern Trust and from being the Director of Marketing for a real estate multi-billionaire who is often featured on Million Dollar Listing. I will do the same for you! Click here for examples. Call me to talk about your real estate success!
The number of homes for sale goes down every fall. The good news for buyers is that most people selling in the fall aren’t selling because they prefer to move in the snow. They are often selling due to need.
Homeowners who are downsizing should be counting their blessings about the value of their home skyrocketing over the past 3 years. Click here if you care to read more about this. The good news for sellers is also that inventory is low. I love my neighbors and I don’t wish to compete with them when we sell. Especially not the ones to the left of me. Ha-ha.
The media may have you clicking on articles about rent going down. .06% down nationally isn’t “down” in my book. Renting is 23.75% more expensive than it was pre-pandemic. On this note, if you wish to buy an investment property with a new roof in St. Claire Shores – call me because I have a listing going live soon. Who doesn’t want a cozy, completely updated ranch located on a dead-end street that’s a fifteen-minute walk to the lake? Subscribe here to see my marketing video that will be completed as soon as the roof is finished.
I believe when rates come down, home prices will go up due to the number of buyers sitting on the sidelines waiting for this to happen. This will cause bidding wars on everything. I don’t have a crystal ball and don’t know if rates will go up or down, but I can say that if one of my children were thinking about buying, I’d advise they do it now. Many gurus think rates will be in the 5s next year while others are screaming about 9% soon.
New homes come on the market every day, in fact:
There are 2,153 homes for sale in Oakland County ranging in price from $35,000 to $10 million.
In Macomb County there are 1,280 ranging in price from $22,000 to $4 million.
I’m laughing to myself thinking about the fact that I can share my unfiltered opinions with you in my bi-monthly emails. This is versus many years ago, when everything that I wrote had to go through my financial firm’s compliance department.
Past performance guarantees future results. Haha, I had to say it.
On that thought, one thing I find a bit disheartening about residential real estate in SE Michigan is seeing the breach of fiduciary duty amongst my peers. Years ago, as a licensed investment advisor, I had fiduciary duty. I have the same as a licensed real estate agent. The client’s interests are above my own, and I understand what that means. I’ll give you a boots on the ground example of one recent decision that I had to make to put my client’s best interest above my own.
I have a client buying a piece of land to build over 30 single family homes. I found something that interested him. Am I able to help him make an offer to purchase the property that I found? All day long, but I specialize in helping clients buy and sell single family homes or the land that they will be built upon, not land for development projects. Here were my options:
Handle it myself and earn the entire professional fee, knowing this is not my area of expertise. I’m intelligent, will research extensively, and do my absolute best work to advise him properly. After all, I’m a formerly licensed investment advisor and Senior Vice President of marketing for a real estate billionaire.
Bring in an expert with this exact type of transaction to advise us, foregoing most of my professional fee to pay for his expertise and rich experience. I don’t know what I don’t know. I do, however, know the best in the business for advising on this type of transaction. He is who I would hire to draw up the contract, if I was thinking about purchasing this land.
I chose option two, because that’s my fiduciary duty. We negotiated my client a good deal, that was just accepted Thursday. I applied my negotiating skills but the contract and structure of the deal, I was not savvy enough to advise my client, up to my standards of wise stewardship. He was well informed of the numbers along the way and is thoroughly protected with the layers and layers of needed due diligence that will take place prior to closing. Would this have been the outcome if I went with option 1? Maybe, but it would have been a breach of my fiduciary duty to choose that option.
My measuring stick is always, how would I behave if this were my asset?
I’d enjoy talking to you about your real estate success. Have a wonderful Sunday!
Nothing contained in this blog constitutes investment, legal, or tax advice.
Investing in the suggestions below may help you net thousands more on your home.
When you list with the me, your home will be seen by thousands through my unique online and print marketing. If you have not already set up a time to meet, I’d be excited to show you my cutting-edge marketing with professionally curated video & photography and how I use online and print media to market your home. I will sell your home like it’s my own asset to net you the most money that the market will allow.
Since most buyers will first see your home online, having it ready to go for the photo and video shoot is of the utmost importance.
We will work together to help you prepare your home. Please do not feel the need to have your home show ready before my first visit. I have sold and closed many homes and it is very rare that any home is 100% ready to go on day one. They typically look like mine on a normal day with 2 children and 2 dogs!
Visit. I will take the time to walk through your home with you, room by room to discuss possible improvements that you can do with little expense. I will only suggest things that will help you decrease your days on market and increase your profit to help get top dollar for your home. When selling, it is important to remember you’ll need to sell to the buyer, inspector, and appraiser.
Change light bulbs and update light fixtures. You will want your home to be as bright as possible and lighting makes an incredible difference. Make sure every bulb is working. We will have these all on for my professional photographer.
Retrieve boxes. Reduce clutter to get a head start on moving. Your home should appear clutter free so the new owner can picture themselves living there. Box up anything you are not using. Organize closets and pantries. Less is more.
Storage unit or garage. Consider storing any boxes, clutter, bulky furniture pieces & toys in a storage unit or neatly in the garage. If your furniture is old and worn, it may be best to show that room empty.
Make an extra set of keys. Prospective Buyers and their agents will need to access your home for showings, so you’ll need an extra set of keys for the lockbox. Showings are typically scheduled through an app called ShowingTime. We will both receive a text notification for all showing requests. Agents will only access your home upon approved showing by you.
Bathrooms. Remove all the toiletries you have on display. The counters should be completely clear. Invest in some new towels for the towel racks in all bathrooms. Shower curtains should be neutral.
Laundry room. Should be cleaned and organized. If you have a shelf above your washer and dryer with things on it, consider getting matching bins to hide items.
Spruce up the kitchen. A kitchen can make or break a buyer’s decision to make an offer. You’ll want the counters to be as clear as possible. Clean inside the microwave and fridge (and remove the magnets, photos, and notes). Clear the decor on top of the cabinets, which can be distracting. If your cabinets are older, new hardware will make a huge difference.
Family and/or living room. Clean the sofa and chairs and consider investing in some new light colored throw pillows. Hide all clutter and wires from your TV/stereo/speakers. Do this in all rooms, especially for photo and video day. A few family photos are ok, but less is more.
Dining room. The goal is simple and clean including the table having one centerpiece or nothing at all.
Bedrooms. The bedrooms should be inviting. You’ll need to clean and declutter. If you don’t already have one, invest in a neutral-colored duvet cover or a white comforter. Think of your last visit to a luxury hotel or model home and aim for all beds having a minimum of four pillows with crisp sheets. Remove bulky furniture.
Master closet. It’s a good idea to pack up or donate items not used in over a year (including shoes). Less clothing hanging and folded on shelves will help make your closet appear larger.
Plumbing. Take care of any known leaks or plumbing issues. Update dated faucets. Like the kitchen hardware, switching out the faucet can be a low-priced option to freshen the space up. Remember, your home needs to be sold to the buyer’s inspector after an offer is accepted.
Store vs. donate vs. throw away. Don’t pack anything that you don’t plan to bring to the next house. Consider donating. The VA will pick up your items from your doorstep.
The entrance. Buyers will have an emotional reaction to your home within 15 seconds of entering it and what they experience at the entrance is important. Your entrance and front yard should be clean, de-cluttered, and inviting. Paint your front door if needed, add fresh flowers to a pot, pull weeds, lay new mulch, get rid of cobwebs, and put away your hose. Keep front porch swept before showings.
Backyard. Ensure your yard is free of weeds, trimmed, and inviting. If you have a pool, make sure the tile is clean.
Personal Items. The goal is for your home to appeal to as many Buyers as possible. This only happens if they can picture their own items in your house. Walk through every room in your house and pretend you’re a buyer.
Paint touch-ups and re-painting. A fresh coat of paint is one of the cheapest ways to freshen up your home. Bold colors are a turn-off to some buyers, so to appeal to a broad base, take the time to re-paint if needed. Kitchen and main living areas should have neutral colors. Bedrooms can usually get away with bolder colors. Don’t forget about baseboards and ceilings – they might need a good dusting or some white paint. A Sherwin Williams palette that works great for most homes: “Accessible Beige 9 Color Home Paint Palette.”
Fix the little stuff. This includes the leaky faucet, the picture holes in the wall, etc. If you aren’t handy yourself, bring in a handyman to take care of items. Replace air filters. Again, you will need to sell your home to the home inspector, and you are aiming for “This home was well cared for” to come out of their mouth.
Get the windows cleaned. Investing in professional window cleaning before your photo and video day is well worth it.
Get the carpets cleaned. Unless your carpets are brand new, you’ll want to have them steam cleaned. You’ll be amazed at what a difference it makes.
The final clean. While you can do this final step yourself, bringing in professional cleaners who will make sure to clean all the spots you miss is a good idea.
Make plans for the pets. Prospective buyers may not love animals and may be allergic. Plan to have your pets out of the house for showings, if possible. Remove all signs of pets for photo and video day (hide bowls, litter boxes, crates).
Make plans for the toys. A few toys are fine if they are organized. Store the extra toys in a hall closet for showings.
Make your house smell good. It’s important for home sellers to be honest with themselves about the smells in their home and take care of the root cause, rather than simply masking them. A strong scent can distract the Buyer’s ability to decide. We don’t want buyers to walk in and think “What smell are they trying to cover up?” I’ve shown homes to clients with a scented candle lit in every room, marijuana odor in the garage, and incense on the stove. This typically ends with nothing more than exiting the house with everyone commenting on nothing more than the smell.
Staging. There are certain situations where some light or full staging may be recommended. We will discuss this option with you in more detail during our walk-through.
Photo and video shoot. When your home is ready, it’s time for the photographer and videographer to work their magic. This will happen a few days before we list your home for sale. Natural light is very important, plan to have all lights on and blinds up. We like to shoot in the best lighting possible, if there is rain or severe clouds, we may need to reschedule. I can typically have your home’s website live and listed within 48 hours after the shoot. We promise that all of your hard work will be well worth it!
The final once-over. Take one final walk through all the rooms and adjust as necessary. Look for things that might turn off a buyer.
Showings. Open blinds to let the natural light in and/or turn on lights. Secure valuable items, including medication, cash, and jewelry.
Final thought. I am here to help every step of the way. We are a team and if you need any help, have questions, or need referrals I have you covered!
While I am a Certified Pricing Strategist, this is a common sense tip that everyone should use when putting their home on the market. Every day, I see homes put on the market priced at $499,000, $749,000, or $3,900,000. This is not wise, and I’ll explain why. When you put your home on the market, the obvious goal is to generate tremendous awareness & interest. This is done by getting as many eyeballs on your home’s photos/videos as possible which drives showings and offers. The more buyers interested in your area that see your home, the better. People and agents search for homes in $ increments or buckets. If your home doesn’t show up in the search, you won’t get the eyeballs. Here’s an example:
Pretend you are buyer “A” looking for a new home and you are preapproved for a $500,000 mortgage or you have $1 million cash, but you only want to spend $500,000. You search on Zillow, Realtor.com, etc. for homes ranging in price from $400,00 – $500,000 or ask your agent “Please send me what is available for under $500,000”. The agent enters their criteria along with under $500,000 into the MLS and 90 homes pop up. That list is way too long, so the agent narrows it to $400,000 – 500,000 and 25 homes are for sale. They think, this list is much more manageable to select houses for visiting and hits send. We will call these buyers set “A”.
Let’s next pretend you are buyer “B” looking for a new home and you are preapproved for a $600,000 mortgage or you have $1 million cash, but you only want to spend $600,000. Everything remains the same as above, but the search is now $500,000 – $600,000. We will call these buyers set “B”.
Now, if you were selling a home for $500,000, wouldn’t you want buyer sets A & B to see it? Absolutely. Here is the reality, if you price your home at $499,000, BUYER SET B WON’T EVEN KNOW THAT IT IS ON THE MARKET! Please price your home at $500,000, $750,000, $4,000,000, etc. I wish people would wise up and drop the 9s! I hope that you hire me when you want to sell but please, if you don’t tell your friends and family about me, at least give them this tip if you see their home is priced unwisely.
“Cara was excellent to work with from the very beginning. Upon our first meeting, the level of care and preparation was evident. Her vast experience, blended with her passionate personality, resulted in strong confidence that my investment was in the right hands!
However, what differentiated Cara was the genuine level of care (what she may call the “white glove service”). I asked a ton of questions; she had the patience and thoughtful answers. I was challenging to get ahold of given work and travel, she was consistent in communication. I was newer to home negotiation; she was steadily confident in her skillset. And these examples are just a few of the many reasons I would recommend!
Overall, there’s a difference of getting the job done and having piece of mind you’re in great hands knowing you’re going to get everything completed with maximum return. There isn’t a doubt, my experience working with Cara was exceptional!”
Cleveland Clinic Genetics Research Doctor in Oakland Township:
“Cara Mossington provided exceptionally good professional realtor services. We have bought and sold a lot of homes and worked with many brokers. Cara was a cut above all of them. She listened to our needs. She provided expert advice. Her vast experience translated into strategies that served us well. At every point in the process, she went above and beyond. I can recommend Cara without reservation; she guided us through a process that ended successfully in no small part because of her good and hard work.”
Patent Attorney in Troy:
“Cara is the consummate professional; she is smart, knows the market and the area well, and is very responsive. She listened to what my property needs are, found a beautiful property for me, and put together a successful offer in rapid succession. Cara is friendly and knowledgeable and is a dedicated agent. Cara more than earned my highest recommendation.”
I met Charletta (Dr. Dennis) while pricing her multimillion-dollar home in Rochester a while back when she was contemplating selling. I enjoy her so much, that truthfully, I hope she stays in Rochester despite her thoughts of moving away. Relationships before transactions is what helps my soul and business flourish. While having breakfast to catch up, she was gracious with me as my curious mind riddled her with questions about her life. Her life’s story is so profound, I’m sharing just a glimpse into it here.
Imagine growing up in the inner city surrounded by drugs, violence, and poverty with a father in prison and finding yourself pregnant at the age of 14. You probably can’t, and neither can I. If you met Charletta today on your child’s soccer field, you would never know how much this woman has overcome in her life as today she is a prestigious doctor living on a large estate in Rochester. Where did the power come from to achieve so much with so very little? “From within”, she will quickly tell you. This humble woman thinks she was born with a hard work ethic and the inability to be complacent. Did a healthy upbringing, parents with good jobs, and going to the best high school in town get her there? Not a bit. Hard work, encouragement from a stranger, and a will to fight for what she wanted was her path.
According to the world she is a “rags to riches story”. Monetarily she’s made it, and all her neighbors can see that, but she’s not just another pretty Rochester affluent lady. She is something special and I’m blessed to have the opportunity to share a smidge of her story.
When asked if she felt unsafe as a child, her answer was no. Why? Because that was all she knew, it was her normal. It wasn’t until after she had her son at 15 that she knew she wanted out for them both. After graduating from high school, a year early, she found herself working at White Castle full time thankful for the full benefits for her and her son. While working, 2 EMTs came in and started telling her about a class to become an EMT. Now 19 with a second child, she took them up on it. While there and realizing she didn’t want to be an EMT after having to help a crew carry a 400 lb man on a stretcher, she decided to become a medical assistant. While working at Henry Ford, the doctors encouraged her to become an RN.
She points to two large events that propelled her forward in ultimately becoming the Director of Psychiatry for the Michigan Department of Corrections and now a Medical Director.
What were those two events? The first one was while she was working as a medical assistant, getting all A’s in nursing school. A big-time doctor at Henry Ford Hospital looked at her report card and said, “You are on your way to medical school.” The seed was planted. The second event was when, after finding out that she wanted to become a doctor, two people in positions of power discouraged her which made her want to fight even harder to prove them wrong. One was a woman at the hospital that told her “I don’t know if that is a possibility.” and another was a male professor who told her “It’s highly unlikely that you will become a physician.” The ugliness of people discouraging a child is sickening, but she used that ugliness to feed the fire in her belly to become a top doctor.
She went on to complete 4 years of medical school, 4 years of a psychiatry residency, and a one-year forensic psychiatry fellowship. Without any financial help from family, all these educational achievements transpired, in part, because that one person spoke kind and encouraging words.
Her service to our community involves trying to fix mental health issues and a job which entails knowing more about criminals than most of us can even bear reading about in the paper. Fascinating as she has a father in prison who has encouraged her throughout her life, with whom she is extremely close to today.
My biggest breakfast takeaway, other than deep respect and awe of this woman, is the power in encouraging one another. She was encouraged by her father and that one doctor who saw her hard work and encouraged her. If you see something beautiful in someone, speak it.
Many of my clients ask me about the home buying processes as they get ready to become a new home owner, or they ask me for a list of steps that they can share with a friend or family member. It’s always helpful to understand (or remember) these major steps in the process:
1 Get Pre-Approved for a Mortgage. Find out what you can afford and let sellers know that you’re serious and ready to buy. All sellers want a pre-approval letter or proof of funds with any offer.
2 Start Your Search and Tour Homes. We will work together to select homes that match your criteria. I’ll set up private showings to tour each home providing guidance along the way.
3 Make an Offer. Once you find the home you want, we will discuss a negotiation strategy to get you your home at the best value. In each offer I write, I put layers of protection around my client should anything unexpected occur. As a former licensed investment advisor, my diligence in this regard is stellar.
4 Schedule an Inspection. Once the offer is accepted, I’ll guide you in hiring a home inspector to make sure the home is up to your standards. If anything major arises during the inspection, you have the option to walk away free and clear of any binding contract or we can go back to the negotiating table. This happens during the inspection/”due diligence” period as dictated in the purchase agreement/offer. Typically a 7 day period after your offer was accepted.
5 Engage a title company to make sure that a seller has the rights to sell the property to you.
6 Secure Financing unless you are purchasing with cash. If the home passes inspection and you choose to move forward, you have 5 days to fully apply for the mortgage and 30 days to get fully approved with your lender.
7 Schedule an Appraisal. Your lender will have an appraiser value your home. If the home appraises for less than the sales price, we go back to the negotiating table.
8 Your Loan Goes to Underwriting. It takes one to two weeks for your loan to be reviewed and approved after the appraisal.
9 Clear to Close – Your loan is approved! Review all of your closing docs for accuracy, and confirm how much cash you need to bring to closing.
10 Do a Final Walk-Through. This is a MUST. It is your last chance to see the property and make sure everything is in order before the sale is final.
11 Closing on Your Home. Signed, sealed, delivered – you are officially closing the deal and becoming a new homeowner!
I hold your hand through the entire process. Email, call or text anytime 312-545-8428!
Proverbs 16:9 A man’s heart plans his way, But the Lord directs his steps.
caramossington.com 