I promised you we would continue the conversation, and I am good for my word (or try to be). OK, so you decided to put your home on the market, or you were forced to do so. Would you like to know how to sell your home the quickest? This the the truth now, so stop reading if you don't want to hear the REAL truth. Here goes:
Price your home to sell. Your agent has probably conducted a comparative market analysis and has recommended a price range, depending on comparable recent sales. When buyer agents create a tour for their clients, they use computer generated searches. If your home is overpriced, it will not show up in the proper price range, and therefore will not get shown. Also if your home is overpriced, competing homes in your price range will in fact be larger, in better condition, and/or more recently updated, making your home look undesirable. Think twice before letting your attachment to your home overinflate the selling price.
Know your competition. Ask your agent for a list of homes in your area in the same price range as yours. Your home must be the most desirable in order to sell. Take a really good look at your home inside and outside. Make needed repairs and clean, clean, clean. Hire a cleaning service, if necessary. Declutter and depersonalize, packing away your collections and family photos. Remember, this is a product now, so think accordingly.
Be prepared to negotiate. This is a buyer's market, so be prepared to make concessions. You may not get the ideal price for your home, but then again you will probably get a great deal on your new home as well. Discuss with your agent how flexible you can be in negotiating price, repairs, and contingiencies such as closing date.
Congratulations! Now that you are a seller, go out there and find the home you really want. Inventory is high, and prices and interest rates are low. Now is the best time to find that dream home!
Friday, May 29, 2009
Tuesday, May 26, 2009
Selling your Home? Can we Talk?
Is your home currently on the market, or are you thinking of placing it on the market sometime soon? Are you ready for the truth about the housing market right now?
The fact is this: now is the best time in years to buy a home. In other words, if you are buying, you are in great shape. Now is a wonderful time to buy that first home or even buy the home you've always wanted. First time homebuyers are in the best position because they have no home to sell. However, even move-up buyers really aren't at a disadvantage because if they don't get top dollar when selling, they will definitely come out on top when buying. Only those who are selling but not buying will be in the worst possible position. If that's the case, I would suggest you not place your home on the market unless you absolutely have to sell.
Let's assume you have made the decision to sell. Are you ready for the truth now? First of all, when you place your home on the market, it becomes a product. No one can put a dollar value on your memories, and a buyer will never appreciate your home the way you do, at least until they live there and make their own memories. May I make a suggestion? Assuming you're buying something else, go find that home RIGHT NOW. I say this because you need to mentally let go of your current home. Unless you're ready to let go, you will not make rational decisions and you will not be able to sell your home.
We'll talk about this issue more later.
The fact is this: now is the best time in years to buy a home. In other words, if you are buying, you are in great shape. Now is a wonderful time to buy that first home or even buy the home you've always wanted. First time homebuyers are in the best position because they have no home to sell. However, even move-up buyers really aren't at a disadvantage because if they don't get top dollar when selling, they will definitely come out on top when buying. Only those who are selling but not buying will be in the worst possible position. If that's the case, I would suggest you not place your home on the market unless you absolutely have to sell.
Let's assume you have made the decision to sell. Are you ready for the truth now? First of all, when you place your home on the market, it becomes a product. No one can put a dollar value on your memories, and a buyer will never appreciate your home the way you do, at least until they live there and make their own memories. May I make a suggestion? Assuming you're buying something else, go find that home RIGHT NOW. I say this because you need to mentally let go of your current home. Unless you're ready to let go, you will not make rational decisions and you will not be able to sell your home.
We'll talk about this issue more later.
Friday, May 22, 2009
A Buyers Market
Apr. 12--Squeezed into a two-bedroom Brooklyn apartment with two preschoolers, Simon and Caroline Oddy set out last fall to find more space in the suburbs. They were drawn to Ridgewood because of its good schools and lively downtown, and were happy to find they could afford a colonial with four bedrooms.
"It's certainly a buyers' market," See rest of article: http://www.builderonline.com/sales/spring-calls-to-shoppers.aspx
"It's certainly a buyers' market," See rest of article: http://www.builderonline.com/sales/spring-calls-to-shoppers.aspx
Wednesday, May 20, 2009
Housing Statistics: List to Sold Ratio 2009
Buyers, want to know how much you'll pay for your new home? Sellers, want to know how much your home will probably sell for?
The following is the average markdown, or list to sale ratio for homes in the Greater Roanoke Valley for 2009 to date. For example if the home listed for $200,000 and the list to sale ratio is 95.9%, then the home will most likely sell for around 191,800. Here are the figures broken down by area:
South Roanoke City: 94.3
S.W. Rke. City: 94.9
S.W. Rke. County: 95.9
Salem: 97.1
Northwest City: 91.5
North Rke. County: 96.1
Williamson Rd. area: 95
Vinton, Garden City, and
Southeast Rke city: 93.2
Bedford County: 93.9
Botetourt County: 95.5
Franklin County: 92.2
Overall Average: 94.1
The following is the average markdown, or list to sale ratio for homes in the Greater Roanoke Valley for 2009 to date. For example if the home listed for $200,000 and the list to sale ratio is 95.9%, then the home will most likely sell for around 191,800. Here are the figures broken down by area:
South Roanoke City: 94.3
S.W. Rke. City: 94.9
S.W. Rke. County: 95.9
Salem: 97.1
Northwest City: 91.5
North Rke. County: 96.1
Williamson Rd. area: 95
Vinton, Garden City, and
Southeast Rke city: 93.2
Bedford County: 93.9
Botetourt County: 95.5
Franklin County: 92.2
Overall Average: 94.1
Monday, May 18, 2009
SW County Condo for Sale
This 2 bedroom, 2 full bath condo is convenient to shopping. Cave Spring Elementary, Hidden Valley Middle and High schools. Custom blinds, custom cabinets, custom bookcase. Study, Sunroom, 2 parking spaces, 2 storage rooms, 6 closets with 2 walk-in, hardwood floors throughout except tile in baths. Immaculately kept, $244,950, see me for a private tour! Gwyn & Harmon, REALTORS
2222 Electric Rd., Suite 101
Roanoke, VA 24018
Equal Housing Opportunity
Sunday, May 17, 2009
Housing Statistics: Average Days on Market in Roanoke
Buyers, you all want to know how long a property has been on the market. Sellers, you want to know how long it could take to sell your home. How do we know what the REAL average days on market in Roanoke is, particularly when agents sometimes re-list a home after the listing expires? First I'll give you the figure, then read on if your're interested in how it was calculated.
The average days on market right now is 172 days, but the figure can change at any given time.
This is how I got that figure: Find out how many homes sold last year and how many are currently on the market. Divide one into the other, then divide 12 into it (for the number of months in the year). Then take that number and multiply by 30 (for days in the month).
More statistics to come.
The average days on market right now is 172 days, but the figure can change at any given time.
This is how I got that figure: Find out how many homes sold last year and how many are currently on the market. Divide one into the other, then divide 12 into it (for the number of months in the year). Then take that number and multiply by 30 (for days in the month).
More statistics to come.
Saturday, May 16, 2009
The Foreclosure Process
Foreclosure is a process that occurs over a period of time, involving three major stages. Interested homebuyers can make a purchase offer and potentially acquire property at any point in the foreclosure process. However, there are different variables to consider at each stage, and different parties involved, depending upon how far the home has proceeded down the path towards foreclosure.
See rest of article: http://rebac.net/foreclosure_process.cfm
See rest of article: http://rebac.net/foreclosure_process.cfm
Tuesday, May 12, 2009
Looking in phone book a real hassle!
Has anyone tried to find something in a phone book lately? First of all, I have 10 phone books of various sizes and I am afraid to throw any of them away. I shudder to think of the environmental impact of all those phone books in a landfill. Also, it seems to me I get a new one every month. Does it seems that way to you too?
Today it appeared that someone in my household has taken my trusty little brown leather address book and put it who knows where. I needed to call a doctor and, had I been able to locate my little address book, it would have been a no-brainer. Off to the phone books I went, in search of that doctor's office phone number.
In the big Verizon book, there were no business white pages, and my physician did not pay extra to be placed in a specialty area, so I was out of luck. The Greater Roanoke phone book was not much better. There were business white pages, but my doctor was not there. He was not in the yellow pages, either, but I did see my other doctors. Too bad I didn't need to contact THEM instead.
At this point I thought I could find the doctor faster under the practice name group, but I wasn't certain of the name. I opened the smaller book labeled Verizon superyellowpages. My doctor was not in the business white pages, and the practice name was there, but it was the wrong practice. He was not in the yellow pages, either. I was beginning to get frustrated, and wondered if I should just get in the car and go to the doctor's office.
Finally, I opened the Greater Roanoke area Yellow Book and, with relief, found the practice name and phone number.
For the sake of this blog post, just for laughs, and just to punish myself, I went back and was able to find the practice name in the previous three books, with the doctors name under the practice name in the Verizon books. Had I not remembered the practice name, I feel certain I would still be looking.
I believe in the free market, but isn't there a better way to find phone numbers? Don't tell me to call 411, I'm too cheap and I don't feel more confident in their ability to find numbers, either.
Today it appeared that someone in my household has taken my trusty little brown leather address book and put it who knows where. I needed to call a doctor and, had I been able to locate my little address book, it would have been a no-brainer. Off to the phone books I went, in search of that doctor's office phone number.
In the big Verizon book, there were no business white pages, and my physician did not pay extra to be placed in a specialty area, so I was out of luck. The Greater Roanoke phone book was not much better. There were business white pages, but my doctor was not there. He was not in the yellow pages, either, but I did see my other doctors. Too bad I didn't need to contact THEM instead.
At this point I thought I could find the doctor faster under the practice name group, but I wasn't certain of the name. I opened the smaller book labeled Verizon superyellowpages. My doctor was not in the business white pages, and the practice name was there, but it was the wrong practice. He was not in the yellow pages, either. I was beginning to get frustrated, and wondered if I should just get in the car and go to the doctor's office.
Finally, I opened the Greater Roanoke area Yellow Book and, with relief, found the practice name and phone number.
For the sake of this blog post, just for laughs, and just to punish myself, I went back and was able to find the practice name in the previous three books, with the doctors name under the practice name in the Verizon books. Had I not remembered the practice name, I feel certain I would still be looking.
I believe in the free market, but isn't there a better way to find phone numbers? Don't tell me to call 411, I'm too cheap and I don't feel more confident in their ability to find numbers, either.
Friday, May 8, 2009
Open House Debacles (and other hilarious stories)
It’s Not a Good Idea To:
…To ignore the dead parakeet in the cage (Unless you killed him – then play dumb and whistle a lot.)
…To decorate the serving plates with an unidentified shiny leaf from the hillside. (Unless you are serving Calamine dip and Benedryl punch.) See more: http://agentgenius.com/?p=11904
…To ignore the dead parakeet in the cage (Unless you killed him – then play dumb and whistle a lot.)
…To decorate the serving plates with an unidentified shiny leaf from the hillside. (Unless you are serving Calamine dip and Benedryl punch.) See more: http://agentgenius.com/?p=11904
Thursday, May 7, 2009
A Very Busy Bird
While attending a home inspection today, I came upon the remains of a woodpecker's work.
From the looks of this, I am certain the bird came away quite full.
Wednesday, May 6, 2009
Real Estate Market--current trends and winning markets
"The baby-boomer generation, the largest in American history, will be buying fewer single-family homes." says John F. Wasik of Bloomberg News. I disagree to a point. Yes, as boomers near retirement, many will be selling their larger 4 and 5 bedroom homes in order to purchase condominiums, but many will be purchasing patio homes which are still considered single family homes.
Wasik also says that Generation X buyers (those born between 1965-1976) are not likely to increase housing prices, because there are less of Gen X than Boomers and they are not as wealthy as Boomers.
"The baby boomers are reorganizing their finances after a rocky decade in stocks. They aren’t buying as many second homes and vacation properties in warmer climates", says Wasik. He indentifies certain areas such as Phoenix, Las Vegas, and San Fransisco as areas where recovery will be slow. Wasik sees "more setbacks" in south Florida, and central and Southern California.
However, southeastern states such as North Carolina and areas in Texas such as Austin, Dallas-Forth Worth, and Houston are winning markets. The Census Bureau reports approximately 67,000 single- and multifamily building permits in the first quarter of 2009 were issued in the southern region. In Texas more than 20,000 were issued. If more than 120,000 permits were issued in the entire U.S. during the first quarter, then that means more than half has been issued in the South alone.
Wasik also says that Generation X buyers (those born between 1965-1976) are not likely to increase housing prices, because there are less of Gen X than Boomers and they are not as wealthy as Boomers.
"The baby boomers are reorganizing their finances after a rocky decade in stocks. They aren’t buying as many second homes and vacation properties in warmer climates", says Wasik. He indentifies certain areas such as Phoenix, Las Vegas, and San Fransisco as areas where recovery will be slow. Wasik sees "more setbacks" in south Florida, and central and Southern California.
However, southeastern states such as North Carolina and areas in Texas such as Austin, Dallas-Forth Worth, and Houston are winning markets. The Census Bureau reports approximately 67,000 single- and multifamily building permits in the first quarter of 2009 were issued in the southern region. In Texas more than 20,000 were issued. If more than 120,000 permits were issued in the entire U.S. during the first quarter, then that means more than half has been issued in the South alone.
Saturday, May 2, 2009
March Existing-Home Sales Slip but First-Time Buyers Rise
WASHINGTON, April 23, 2009
Existing-home sales eased in March but first-time buyers are responding to low mortgage interest rates and tax credits, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 3.0 percent to a seasonally adjusted annual rate1 of 4.57 million units in March from a downwardly revised level of 4.71 million in February, and were 7.1 percent lower than the 4.92 million-unit pace in March 2008.
See rest of article: http://www.realtor.org/press_room/news_releases/2009/04/march_ehs
Existing-home sales eased in March but first-time buyers are responding to low mortgage interest rates and tax credits, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 3.0 percent to a seasonally adjusted annual rate1 of 4.57 million units in March from a downwardly revised level of 4.71 million in February, and were 7.1 percent lower than the 4.92 million-unit pace in March 2008.
See rest of article: http://www.realtor.org/press_room/news_releases/2009/04/march_ehs
Friday, May 1, 2009
10 Things Your Plumber Won't Tell You
1. "There's an old plumber's adage: 'An ounce of prevention could cost me 5K.'"Water is the single most common cause of household damage, according to a nationwide analysis by Safeco Insurance, a Seattle-based homeowner's insurance company. From 2002 to 2004, 30% of home water-damage claims resulted from appliance failure and another 62% from faulty plumbing systems. The biggest culprits: water heaters and washing machines. And repairs are costly. Safeco found that American households with water damage spent an average of $5,000 for each episode in that same period.
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