11 Reasons to List During the Holidays

1. People who look for a home during the Holidays are more serious buyers! 2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you! 3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you! 4. Houses show better when decorated for the Holidays! 5. Buyers are more emotional during the Holidays, so they are more likely to pay your price! 6. Buyers have more time to look for a home during the Holidays than they do during a working week! 7. Some people must buy before the end of the year for tax reasons! 8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market! 9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays! 10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year! 11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

New Review on Trulia!

"Amanda put us first - looked out for our best interest. She knew the area market and worked that to our advantage. She was both energetic and enjoyable to work with. Amanda responded quickly to phone calls, texts and emails. If she was tied up in a closing, her team responded quickly. She kept us informed of market conditions and surrounding sales through her newsletter. I highly recommend Amanda and her team." -- John W. To see more reviews, click here

Selling Your Home THRICE

In the latest blog post by Keeping Current Matters, Steve Harney points out that agents have to sell your home twice -- to buyers and then to the bank. I would say we have to sell it THRICE -- to other agents, to buyers, and to the bank. Savvy agents will do everything they can to keep their customers from looking at a home they feel is over priced or poorly maintained. Read the KCM blog post here

Is Cheaper Better??

I was just reading a blog post showcased by Inman News when a paragraph hit me in the face. I began reading it due to the catchy headline regarding selling a home via Zillow, but the author captured our society perfectly with the following analysis "Consumers often choose speed, simplicity and low prices over thoroughness and quality. Redbox’s half-rented-out, $1 DVD kiosks survive though rental stores with hundreds of better choices for $5 went out of business. We book reservations on Hotwire without even knowing the hotel’s name because we can save $20. Parents entrust their inheritance to a will that they crafted on a legal website for $99." Read the rest of the post here.

Just a Little Vision...

I show a lot of houses, and often I wonder why people can't see the potential. Cosmetic issues often blind a buyer to the untapped fabulousness of an awesome floor plan, spacious rooms, quality construction, etc. Well, recently I had some buyers surprise even me with their eye. Flocked wallpaper came down, shag carpet came up, and built ins came out... and they literally transformed a Yadkin County home into a gorgeous showplace within just a couple of weeks. This picture doesn't even come close to doing the transformation justice, but if you could have seen it THEN and see it NOW... WOW!

Zillow Swillow...

I came across a funny meme yesterday that had the artist guy... I can't remember his name... the one that painted on the easel and would paint "pretty birds" in places where he smudged?  Anyway, the meme showed him in front of a blank canvas and said "Hey Look -- it's a collage of all the homes Zillow accurately valuated."  SO TRUE.  You can see it here.

Zillow is a necessary evil in our industry.  We can't beat it, so we have to come up with ways to use it to our advantage.  Therefore, The Shore Team has purchased enhanced features on Zillow that allow us as agents to upload multiple photos (more than the default), edit property details (to an extent), etc.  However. just because we have learned to capitalize on this website does NOT mean we endorse everything it says!  Zestimates are rarely, if ever, correct evaluations of your property's value.  Trust me on this!  Algorithms are used to determine value based on square footage, tax info, etc., but they are not market specific.  Market specificity is crucial to properly preparing your home for the market or for properly setting your expectations as a buyer.  Please contact your trusted Realtor advisor for these things, and take Zillow with a grain of salt.

RATES

CURRENT RATES	1/13/14
Conventional 15 Yr, Fixed to 95% LTV	3.625
Conventional 30 Yr, Fixed to 95% LTV	4.625
Conventional 7/1 ARM	4.0
Conventional 30 Year Fixed 97% LTV (half point origination required)	5.125
FHA 30 Year Fixed	4.25
VA 30 Year Fixed	4.25
USDA 30 Year Fixed	4.25
All above rates quoted with no points origination unless otherwise noted
NC State Bond with DPA	4.75
NC Bond loan requires 1% origination
Jumbo 30 Yr. Fixed to 80% LTV	4.625
ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE.
CREDIT SCORE AND LOAN AMOUNT  ADJUSTMENTS MAY APPLY. FOR INTERNAL USE ONLY.

What NOT To Do...

Today's post on the Allen Tate blog is very timely in general but for us specifically as we had just this issue delay a closing recently.  It offers great advice for anyone under contract to purchase a home.  To see the whole post, click here, but the main points are as follows:
-- Don’t open any new credit accounts before or during the mortgage loan application process
-- Don’t move money around in your checking/savings accounts
-- Don’t change jobs or the way you are compensated

Happy buying!

How Market Value is Determined

We recently added this to some of our promotional packets, and I thought it was great info to post here as well!

 

           The Market value of your home is determined in several ways

 

           The market value of your home is not:

1.  What you have in the home

2.  What you need out of it

3.  What you want

4.  What it appraised for

5.  What you heard your neighbor’s home sold for

6.  What the tax office says it’s worth

7.  How much it’s insured for

8.  Based on prices of homes where you are moving

9.  What Zillow says it’s worth

 

The true market value of your home is...what a buyer is willing to pay for the property based on the number of competing homes:

1.  Based on today’s market

2.  Based on today’s competition

3.  Based on today’s financing

4.  Based on today’s economic conditions

5.  Based on the buyer’s perception on the condition of the property

6.  Based on the location

7.  Based on normal marketing time

 

Properties that sell in today’s market:

On a scale of 1-10 (“10” are the ones that are selling)  How can your property be a “10”?

1.  By improving the condition dramatically

2.  By offering good terms

3.  By improving the way the home shows

4.  By adjusting the price

 

As you advance through your marketing period, you may observe some warnings:

Realtor elimination– if the Realtors are not previewing it and do not show it, they are eliminating it

Buyers elimination– if it is being shown with no results, the buyers are finding better properties to buy and they are eliminating the property

 

A Busy Weekend!

Yes... things have slowed down somewhat from the Spring/early Summer frenzy, BUT we received offers on 3 different homes this weekend.  So, the number of lookers has diminished somewhat, but the ones that are looking are serious.  Buyers, take things seriously if your agent tells you there is significant interest on a home you love, and sellers, keep your homes looking great and easy to show.  We are forecasting a flourishing fall!

Border Creek Beauty

We are excited about our latest listing in Border Creek, a wonderful 3 bedroom home with HUGE bonus and upgrades galore. Click here for a photo tour of 322 Quick Silver Dr.!

Deja vu!

I had a wonderful experience this weekend. 2025 Heidelbury in Winston-Salem has hit the market, and as I put the brochure box in the yard, I grinned... you see, I sold this home to this sweet couple a few years ago. I was also the list agent at the time, so this home has a special place in my heart! When they bought it, they were just starting out and so many things about the home and neighborhood appealed to them. Now, they have 2 children and just need more space. Regardless, I was honored when they contacted me to market it. It really is a great house at a great price. Click here for a photo tour!

Good news from our WSRAR President!

I just opened my e-Professional Edge newsletter from May 2012. Byron East, our president, has condensed some numbers heard on the news and seen in the papers into one concise paragraph that just thrills me to death! The following is straight from this wonderful publication offered to us by our association: "Selling season is off and running. As stated... sales of existing homes in our area rose 4.4% from February to March. The average sales price jumped 14.7% in March... while national numbers declined we saw the highest number of sales in February 2012 since the early 2000s. We had our best 1st quarter since 2004." Yip-pee-ki-yay!!! (Please excuse the spelling, but my excitement is bubbling over!). Are we on the edge of a recovery in the Triad?

Wonderful Article about Winston-Salem!

Most people I know use Duke Energy for their power provider... but I live in the far end of the boonies, so I am a member of a Rural Electric Co-op. While this often translates into somewhat higher power bills than others, one perk is this great magazine I receive monthly called "Carolina Country." I love to read it and learn about areas in our state with which I am not very familiar, but this morning I was pleasantly surprised when I tunred to page 52 and found an article showcasing my very near and dear Winston-Salem! It contains some great info on this wonderful city and helps me realize that I should not take this wonderful area for granted. I will certainly be including it in my relocation packets from now on!

Open publication - Free publishing - More north carolina

Endless Possibilities! Spotlight on Winston-Salem

Lisa and I have listed some fantastic homes in the last few weeks in Forsyth County, all in different price points and meeting different needs.

1005 Somerset is a WONDERFUL starter home in a location convenient to everything -- shopping, Forsyth Hospital, WFU-BMC, I-40, 421, etc. The owners have lovingly maintained it and as an added bonus pulled up some carpeting to expose gorgeous hardwoods and updated most of the fixtures. 2 of the 3 bedrooms are HUGE, and it has a wonderful fenced yard and roomy kitchen with lots of cabinets. Click here for a photo tour.

1154 Folkstone Ridge is new construction that is move in ready. It has an open living room, breakfast, kitchen plan with granite countertops and all bedrooms upstairs. It is located off Peters Creek Parkway and is yet another example of a killer location as it is in a nice neighborhood but is moments away from all you need. It even has that "new home" smell... check it out here.

Finally, 135 Almont Forest is tucked away in one of Clemmons' prettiest hidden neighborhoods. Whitmore Place is a quiet, tranquil community with a small community pool that is peaceful and affordable. It feeds to the new Morgan Elementary and has a versatile floorplan with upper level bedrooms, an open main level with wonderful updated kitchen overlooking a private backyard, and a finished lower level that accomodates a variety of needs. Click here for a tour of this move in ready home.

Why Shouldn't I Wait?

So many folks thinking of selling decide to wiat til summer to list their homes, so that they can get through the end of school, graduations, etc. Then, there are also those who are considering selling now but think "summer is just so hectic... let's wait til the end of summer to put our home on the market." While I certainly understand the reasoning behind this thinking, there are 2 main reasons why this is just not the best train of thoguht right now.

FIRST, home prices are going to continue to be compressed and even fall over the next few months. I currently have a home listed in a Clemmons neighborhood I frequent quite a bit for $199,900. In 2007-2008, it would have easily been $239,900. That is quite a cut, and due to the increase in foreclosures hitting the market and the owner occupant saturation we are experiencing, there are just too many homes on the market for the number of buyers. Anytime supply exceeds demand, prices fall.

SECOND, financing is getting tighter and tighter. Not only are we constantly under the threat of interest rates going up, but most federal loans are getting more expensive as well. An FHA loan now has a higher out of pocket cost for a buyer than 6 months ago, so even with a low rate, the amount of home someone will be able to afford for the same monthly payment is less.

The bottom line... don't wait until the end of summer to list. Do it now and capitalize on the folks who are looking to purchase and move in prior to a new school year.

Multi-Tasking!

I'm watching the Tarheels play Marquette, but the babies are in bed so I'm multi-tasking!
Lisa and I have listed a great home for medical residents on Polo Road. It's all brick, with a deep backyard, 3BR & 2BA, a remodeled kitchen, large living room, den with newly refinished hardwoods... and best of all, it is 6 minutes by bike to WFU!
Click here for more info!

It's That Time of Year...

Even though it is sunny, warm, and gorgeous here in Winston-Salem today, the nights are getting cooler and cold weather is just around the corner. I know at my house we have actually run the heat a few times now (don't you love the smell when you run your heater for the first time?). This brings to mind some "to-dos" for the upcoming cooler (or just plain COLD) weather:

Have your heating system service and cleaned
Check the pilot light on your gas logs
Make your home more efficient by caulking, weather-stripping, etc.

For more ideas on things you can do to prepare for cold weather, just email or call me. Enjoy the sunshine!

We've Moved!!!

WINSTON SALEM, N.C. - Allen Tate Realtors has moved its Winston-Salem sales office to a building at 147 S. Cherry St. Allen Tate will lease 9,110 square feet of space on the first floor. The new location will accommodate Allen Tate Realtors formerly working at the Stratford Street location, with extra space for new agents who join the company.

Mike Thornburg is the branch leader and broker-in-charge. Terri Massengale recently joined Allen Tate as the sales manager for the Cherry Street location and business development manager for the Winston-Salem market. Read more at http://bit.ly/cjvNX0

"Long Distance" Agents

I saw a snippet of a newspaper article recently that was typical for these times -- written by someone outside the real estate industry, giving advice to home buyers and sellers without acknowledging that our industry is evolving and changing every day. Can you tell I was a little bothered by it?
Anyway, the article was advising home sellers that if their agent's "home base" was more than 15 miles from the location of their home, then they needed to pick another listing agent. The reasoning was that agents further than that could not be as responsive to buyers and buyer agents as one whose home base was closer.
WOW. I have an office on Stratford Road in Winston-Salem where I make copies, store files of old clients, etc. Most importantly, if the Real Estate Commission needs to contact me, they use that address. But my "real" office, where 99% of my negotiations, communications, etc, take place is wherever I am with my iPhone! Most of my active files stay in the backseat of my car, and I log tremendous miles every day driving from Pinnacle to Lexington to Greensboro to Elkin. I have the capability to fax, email, text, phone, etc. from anywhere. In fact, my office on Stratford is 45 minutes away from my very own home -- does that mean I am not qualified to sell my own house? No!
I am licensed to conduct business in the State of NC. I do not go beyond certain areas because I simply do not have the firsthand market knowledge to service customers in those areas. If you live outside of my comfort zone, I will let you know (as will most professional agents) and will help you find someone within your area to help. But please understand, just because I don't live in your neighborhood does NOT mean I can't represent you professionally and competently in a transaction.
Ok, thank you for indulging my tirade...