Monday, January 31, 2011
Gotta Love Technology!
I am sequestered in the bedroom with strep throat... leaving my sweet husband to fend for himself with a starving baby and a precocious toddler... I have giggled so many times in the last couple of hours! Anyway, even though I am quarantined, I have been able to be quite productive thanks to modern technology. I admit, now that the meds have kicked in, I have been more productive than I was, say, yesterday, when it hurt to even breathe, but I digress! Thanks to my laptop, wireless internet, iPhone, websites like ping, etc., I have successfully updated my blog, facebook, and twitter pages, uploaded photos for 3 listings, updated listing info for 6 listings, scheduled 2 open houses, sent a revised offer to purchase to a cooperating broker, consulted with a client on his comfort level regarding an offer he made a few days ago, advised a client on an inspection issue, etc. (and this is all in the last 90 minutes!). And that doesn't even include what my partner, Lisa Gifford, has been doing today! And now, I am off to do a CMA...
Monday, January 24, 2011
Sorry Matt, but You're Wrong This Time!
I love watching The Today show on Mondays -- not only to get my Matt Lauer fix for the week but also because of the real estate segment they regularly run. I am usually pleasantly surprised by the advice given and agree that it is spot on... but not today! Today's segment on "5 Sure Ways to Sell Your Home in a Down Market" featured some great tips, but I adamantly disagree with the very first one. The real estate expert (her name escapes me at the moment, but like I said, I usually agree with her) said above all else to wait until after Super Bowl Sunday to list. Her reasoning was that no one is looking right now.
I disagree for SEVERAL reasons.
FIRST, interest rates are rising overall. A buyer can afford more home for the same payment now that he can afford if the interest rate goes up.
SECOND, people looking now are serious. You may not have as many showings as you would in the Spring, but the folks looking will mean business.
THIRD, most people will wait to list -- if you go ahead now, you have a leg up in that you aren't lost in the shuffle.
FOURTH, listing now gives you the opportunity to work out the kinks before the busy season starts. Perhaps you have an alarm... listing now and having a showing or 2 will give you the chance to have the showing instructions honed before the busy season.
FIFTH, the longer you wait, the more your price will be affected by shadow inventory. There are fewer foreclosures on the market now affecting your price than there will be in a month or two.
To speak to me about the pros and cons of listing now, just call 336-714-9444 or click. Have a great Monday!
I disagree for SEVERAL reasons.
FIRST, interest rates are rising overall. A buyer can afford more home for the same payment now that he can afford if the interest rate goes up.
SECOND, people looking now are serious. You may not have as many showings as you would in the Spring, but the folks looking will mean business.
THIRD, most people will wait to list -- if you go ahead now, you have a leg up in that you aren't lost in the shuffle.
FOURTH, listing now gives you the opportunity to work out the kinks before the busy season starts. Perhaps you have an alarm... listing now and having a showing or 2 will give you the chance to have the showing instructions honed before the busy season.
FIFTH, the longer you wait, the more your price will be affected by shadow inventory. There are fewer foreclosures on the market now affecting your price than there will be in a month or two.
To speak to me about the pros and cons of listing now, just call 336-714-9444 or click. Have a great Monday!
Monday, January 17, 2011
Renting v. Buying... Which Makes More Sense?
There is another great post today on KCMBlog.com that compares the costs of renting to the costs of buying. Several good points are made, among them that rents continue to increase. More importantly, though, is the argument concerning interest rates. Rates, while rising somewhat over the last month, are still historically low... so chances are good that the monthly mortgage payment you are able to negotiate now is the lowest it will be in your lifetime.
Even in markets where rent is cheaper than a mortgage, the future potential of rent increases is far more dramatic than a mortgage increase, which won't happen if you have a fixed rate loan. Specifically, "apartment dwellers could be facing double-digit rent increases in the coming years as a shortage of new multifamily units coupled with a rise in prime renter-age households gives landlords clout they haven’t see since the mid-1990s." With a fixed rate loan, you are much more certain of your future obligations. Why take this gamble?
Even in markets where rent is cheaper than a mortgage, the future potential of rent increases is far more dramatic than a mortgage increase, which won't happen if you have a fixed rate loan. Specifically, "apartment dwellers could be facing double-digit rent increases in the coming years as a shortage of new multifamily units coupled with a rise in prime renter-age households gives landlords clout they haven’t see since the mid-1990s." With a fixed rate loan, you are much more certain of your future obligations. Why take this gamble?
Friday, January 14, 2011
One of a Kind
Imagine low horizontal lines... open interior spaces... the finest appointments... sounds interesting, doesn't it? Well, welcome to 125 Asbury Place Court. If you are familiar with Asbury Place, you know it is one of Clemmons' most popular neighborhoods with its community pool, proximity to Tanglewood, and convenient location. What you may not realize, however, is that it is also home to one of the most, if not THE most, unique homes in Clemmons. While popular in other parts of the country, this custom built mid-century prairie style home is truly one of a kind in our neck of the woods. Visit 125AsburyPlaceCourt.com for a picture tour, but these don't do it justice. If you long for something a little different... modern... contemporary... contact me for a private showing. You won't be sorry!
Tuesday, January 11, 2011
A "Flurry" of Activity
If you are like me, you are working from home (or not working at all) today thanks to the snow and ice storm... not a bad thing to sit in your pjs and work away :-). We had snow, ice, and sleet yesterday and last night, but that is not the only kind of "flurry" happening around here...
BUYERS ARE LOOKING. Just in the past 2 weeks my partner and I have been amazed at the number of buyers, previously lying low, who have expressed an interest in finding a home and finding one quickly. Other agents in our office have said the same thing, so that tells me it is time to act. Sellers, you MUST be not just competitive but compelling. You must be staged and ready to show. You must be flexible with few showing restrictions. Talk to your agent today about where you need to be as far as pricing goes. Remember, the longer you wait the more you will be affected by increased short sales and foreclosures. A $1200/month payment quickly adds up, so reduce now and get the burden off your shoulders.
Call me TODAY to discuss!
BUYERS ARE LOOKING. Just in the past 2 weeks my partner and I have been amazed at the number of buyers, previously lying low, who have expressed an interest in finding a home and finding one quickly. Other agents in our office have said the same thing, so that tells me it is time to act. Sellers, you MUST be not just competitive but compelling. You must be staged and ready to show. You must be flexible with few showing restrictions. Talk to your agent today about where you need to be as far as pricing goes. Remember, the longer you wait the more you will be affected by increased short sales and foreclosures. A $1200/month payment quickly adds up, so reduce now and get the burden off your shoulders.
Call me TODAY to discuss!
Friday, January 7, 2011
Changes in the Offer to Purchase!
1/1/11 brings many changes to many people in many ways, but in MY business, it brings GOOD change! The standard NC Offer to Purchase has drastically changed, and in my opinion, it's for the better. The following is from Tom Gongaware on At Home in the Carolinas, the Allen Tate Company blog.
"The biggest change facing Buyers, Sellers, and REALTORS® in North Carolina is the form’s introduction of the Buyer’s “Due Diligence” process. During a negotiated due diligence period, the Buyer must complete all of the inspections, surveys, and appraisals typically performed by a diligent Buyer. In addition, the Buyer needs to be satisfied with the documents governing the home, the availability and affordability of insurance for the home, and their own ability to be approved for a mortgage. Should the Buyer not be happy with the investigations…or if they simply change their mind about completing the purchase…the Buyer will be able to unilaterally terminate the contract and be entitled to a return of their earnest money deposit, assuming notice of termination is delivered to the Seller prior to the expiration of the due diligence period. After that expiration date, the Buyer loses their ability to terminate the contract and receive a refund of the earnest money deposit (except in the case of a Seller’s breach) and the power of the contract shifts to the Seller.
The new Offer to Purchase and Contract allows for a negotiated, non-refundable fee to be paid by the Buyer directly to the Seller in exchange for the amount of time associated with the due diligence period. While the “due diligence fee” is not a requirement of the Offer to Purchase and Contract, it will serve as further evidence of the Buyer’s sincerity in pursuing the property. The “due diligence fee” is not refundable to the Buyer except in the case of the Seller’s breach. The fee will serve as a credit to the Buyer should they complete the purchase."
"The biggest change facing Buyers, Sellers, and REALTORS® in North Carolina is the form’s introduction of the Buyer’s “Due Diligence” process. During a negotiated due diligence period, the Buyer must complete all of the inspections, surveys, and appraisals typically performed by a diligent Buyer. In addition, the Buyer needs to be satisfied with the documents governing the home, the availability and affordability of insurance for the home, and their own ability to be approved for a mortgage. Should the Buyer not be happy with the investigations…or if they simply change their mind about completing the purchase…the Buyer will be able to unilaterally terminate the contract and be entitled to a return of their earnest money deposit, assuming notice of termination is delivered to the Seller prior to the expiration of the due diligence period. After that expiration date, the Buyer loses their ability to terminate the contract and receive a refund of the earnest money deposit (except in the case of a Seller’s breach) and the power of the contract shifts to the Seller.
The new Offer to Purchase and Contract allows for a negotiated, non-refundable fee to be paid by the Buyer directly to the Seller in exchange for the amount of time associated with the due diligence period. While the “due diligence fee” is not a requirement of the Offer to Purchase and Contract, it will serve as further evidence of the Buyer’s sincerity in pursuing the property. The “due diligence fee” is not refundable to the Buyer except in the case of the Seller’s breach. The fee will serve as a credit to the Buyer should they complete the purchase."
Monday, January 3, 2011
Professional or Pretender?
A pretender worries about your feelings and places great emphasis on whether or not you will like them. A professional worries about your family and how they can help. A pretender will tell you what you want to hear. A professional will tell you everything you need to know.
WOW -- this is from the latest Steve Harney post. Sellers, always remeber there are some agents out there who will buy your listing at any cost to get their sign in the yard. The professional agent will give you a true value, no matter how much skepticism it may create. Soo the KCMBlog for more!
WOW -- this is from the latest Steve Harney post. Sellers, always remeber there are some agents out there who will buy your listing at any cost to get their sign in the yard. The professional agent will give you a true value, no matter how much skepticism it may create. Soo the KCMBlog for more!
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