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.

The Value of a Great Negotiator

There have been many times in my career where, let's face it, I have just made some clients mad.  It wasn't that I was being unprofessional, or rude, or unkind... just that I was presenting an accurate picture of the market.  And, unfortunately, the accurate picture was not the desired picture. At times, there is room for flexibility, but at other times there just simply isn't.  So, the customer would perhaps leave the meeting with a bad taste in his mouth thinking I was just too stubborn and too bull-headed.

But isn't that just the type of agent you want?  When negotiating for a buyer or a seller, don't you want someone who is tactful, business like, but not easily swayed?  They need to be able to present their argument and stick to it.  Now, it is a very common misperception that negotiations are always combative and adversarial.  They simply aren't.  More times than not, the buyer, buyer's agent, seller, and seller's agent are able to work harmoniously (if not together) towards a common goal.  But, because the chance exists that it may be adversarial (aka "snarky"), wouldn't you want someone on your side whom YOU weren't even able to wear down?

Just a new way to look at things...

Changes are Coming!

WOW -- time flies when you're having fun!  I had no idea it had been so long since my last post! 

Lisa and I are very excited to announce that our team is expanding.  Details, pics, etc. will be released over the next month so that we can hit January 1 fully loaded, but I wanted to go ahead and offer a teaser.  Stay tuned for more regarding "The Shore Team"!!

Should You Hire a Professional?

Steve Harney's Keeping Current Matters has an excellent post today on whether you should hire a professional to sell your home or try to do it yourself.  You can see the whole post here, but one particular section really spoke to me.  I have had several "commission negotiation" discussions lately, and what takes me 7 or 8 minutes to explain is summed up here in a concise and clear manner:

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.

I have joked before that if you think I am a bulldog with you, imagine how I am with people across the table who are not on my side!  Considering how important my paycheck is to the livelihood of my family, it is very very difficult for me to give any of that up.  If I negotiate (or settle) easily for my own family, how can you trust that I won't do the same for yours?

A Time to Rest?

Many agents seem to go into hibernation mode on October 1.  Like everyone else, it is hard to not get swept up in the excitement of festivals, changing leaves, spiced cider, and bean soup in the crock pot.  But, I learned a few years back (and not as soon as I would have liked!), that October is really just the beginning of a new year. 

Huh?

You see, the things we do now as agents set the table for January and February.  Prospecting, listing preparation, to do lists... all of these things may not seem important now, but come the "lean" months, you will be glad you didn't push them to the side!

The same advice goes for home sellers.  Many folks see this as a time of year to go off the market, take a break, focus on holidays... all while thinking they will gear back up come Spring.  But, things you do now, as far as maintenance, upgrades, etc., can really lay the groundwork for that not so far off "Spring market".  Think of what happens in your neighborhood as flowers bloom and birds sing -- people begin remodeling, landscaping, etc.  But, if you work on those things now, you can probably get jobs done more efficiently (and cheaper) simply because the demand for such tasks isn't as high as it will be in March or April.  Go ahead and have a pre-marketing home inspection done NOW -- then you will have plenty of time to address items that need to be addressed and can make a more practical, informed decision about what not to do and what not to do.  Begin looking at paint samples and flooring options... so that you don't feel rushed by some big sale the week before you list and end up getting the wrong thing.

The bottom line is this -- patience is a virtue, but diligence is even more so.  The Lord blesses those who work and prepare and help themselves, so while others are living it up eating candy apples in their slippers by the fire, you can be getting a head start on what is forecasted to be a VERY busy 2014!

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!

I'm A Believer!!!

Ok, everyone knows the adage that an open house is good for agents but doesn't do anything for a seller.  We would often tell our sellers that while we were happy to have one, it really did more for OUR business as a prospecting tool than for the actual sale of their home.  Well, lightning has struck!

In the last 3 days we have had two of our wonderful listings go under contract, and the buyers of both first saw the home at an open house.  They later returned with their own agent, but I have to wonder if they would have gone out of their way to schedule a second showing if they hadn't been able to slip easily in and out on a Sunday afternoon. 

So, lightning may not strike every time, but when it does, it's powerful!

Wanted: Sign Riders!

I saw a blog on Trulia today about sign riders that should exist. While I can't really say I have a need for most of the ones listed in the blog, I do have several ideas for sign manufacturers... and in case you are wondering, a sign rider is a strip that goes along the top of the sign that says "Price Reduced" or "Pool" or something like that!

1. No Window Shopping: I am constantly amazed by the number of sellers I have who have seen people literally walking around in their yards during the day (without an appointment to do so with an agent!). When a buyer calls me and asks if they may get out and look in windows of a listing, if it is vacant I say "of course!" -- but I ALWAYS thank them for asking! I have had several unsuspecting buyers met at the front door with a shotgun. I'm not kidding. Moral of the story: buyers AND agents, if you want to look in the windows of a property, call the list agent first to make sure it is vacant!!

2. Dry Basement (Usually): I hear all the time "oh yeah it's a dry basement -- it's great... no problems there... except when it rains really hard." As a seller you don't want to say you have a moist basement if in fact it isn't moist all the time, but a buyer needs to know that there can be issues. I would love a rider that sort of qualified that.

3. We Love Cats: This one will let you know that -- you guessed it -- there are cats in the house. Some homes with cats are still tidy, clean, smell good, etc., but even those homes can be problematic for someone with severe allergies. I have the nose of a hound dog (or so my husband says), but I have been with buyers several times who have broken out in hives once in a house longggg before I had an inkling that a cat lived there. So, advance notice would be great and would save everyone -- seller, buyer, me -- lots of time and preparation!

4. Unmotivated Seller: No one wants to pay full price for anything. I get that... but if you as the seller are absolutely not budging one smidgen off your asking price, just let us know that up front. Some folks, no matter how much they love your house, won't pay full price on principle. So, if I have those buyers in my car, that particular rider would save me great trouble.

What are some signs YOU would like to see?

 

If I Sleep Here...

Ladies and gentlemen, this weather is NOT affecting the real estate world in the Triad!  We are busy busy busy with both buyers and sellers.  Negotiations are happening, homes are being listed, showing appointments are being made.  It's pure chaos, but oh how we love it!

So, I'm considering sleeping in the office tonight to catch up on paperwork.  Just kidding -- but I sure could use the extra hours! 

I feel the need to post a disclaimer, though... sellers, just because you read this, do not think it means you can price up, be inflexible in negotiations, etc.  Savvy buyers know that the next few weeks will see inventory skyrocket, so take advantage of that bird in hand!  Listen to your trusted advisor as they counsel you, and don't take it personally when they give you "just the facts ma'am".  We are basing what we are advising on experience, and that is priceless!

Lots of Home for the $$$

4245 Our Circle is located in beautiful Clemmons! This 3 bedroom home offers new flooring throughout, fantastic built ins in the dining room and so much more... It's a must see! Click here for a photo tour!

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!

Wanting What Our Parents had

I don't know if it is my age that is making me wiser, the fact that I am currently taking Dave Ramsey's Financial Peace class, or that I have been doing this long enough for things to come full circle... but I want to just reflect a minute on our perspectives in relation to our homes. When my husband and I got married, we rented a beautiful but very old home... it was dated cosmetically, had baseboard heat, you used a skeleton key to lock the front door (not kidding), and it was located right next to railroad tracks that were still used frequently (too frequently...). Our utility bills were out of control, we never had enough heat, and the carpet was horrible, but we were so happy there and the rent was well within our budget. We had no complaints and envisioned ourselves being there a very long time. Then, job changes, family dynamics, spats over pets, etc caused us to move. I don't know where we lost the contentment, but somewhere along the line we did. Our next home was a simple brick ranch that was fine, but we felt the need to do cosmetic updates, put in a heat pump, etc. Then, we moved into our current home, where we will be til we are taken by the clods or the clouds. It wasn't so much my husband as me, but we felt this intense drive to make it ours and started making changes immediately... some supposedly needed, but most were simply because we wanted them done. How my perspective has changed. As I grow older and watch my 2 toddlers grow up, I no longer see the cosmetic deficits but the intrinsic value in having a payment we can afford (that we hope to get paid off very early!), room for our kids to play, and a great floor plan for our family. Would I LOVE to gut the kitchen and bring it out of the 1980s? YES. Would I LOVE to remove the brass fixtures and navy tile countertop in the bathroom? Double YES. Would I love to add a screened porch and convert the extra bedroom into a kicking master closet and bathroom? Oh, more than you know. But, until we can afford to do it in cash and have paid off all of our student loans, credit cards (that are now cut up), etc., we will just stay put as we are. Now the leaky roof... well, let's just hope we can save enough to pay for it in cash before it caves in! I see it a lot in my profession... young folks who want first thing what it took their parents 30 years to have. Of course I want to sell you a nice home -- after all, the higher the price, the more I make! -- but I also know that if you buy "too much" home, you will be calling me in a couple of years to sell it not because you want to but because you have to. So, just because you qualify for a $200,000 home, does that really mean you should buy it? Especially in today's' market, you can get a lot of home for a good price that won't break your budget. Some things are just more important than keeping up with your buddies. Trust me -- I speak from experience!

Another FABULOUS Tate tool has been unveiled... if you are like me, seeing something makes it so much more clear than hearing it or reading it. Well, voila! A Carolinas Market Report via video! http://athome.allentate.com/2012/07/stay-in-the-know-with-video/

Thank You Thank You Thank You!

I just found out this morning that I was named the Triad Moms on Main "Mom's Choice Awards Favorite Real Estate Agent" -- thank you thank you thank you! Being a mom has certainly enhanced my understanding of the motivations and anxieties attached with buying or selling a home. I am humbled and blessed to have been placed by God in a career that I love so much AND that allows me to be the mom I want to be. I look forward to working with you in the future!

A list of all the winners can be seen by clicking here!

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!

Mixed Signals??

There have been several reports lately concerning the real estate forecast for 2011. My favorites are the ones that say that the demand for housing will go up in 2011. Yippeee, right???? Well, yes... sort of...

Both NAR and Fannie Mae are projecting an increase in closed residential real estate transactions in 2011, but this does not mean prices will go up. Sellers, please keep this in mind! More homes will be sold, but that does not equal greater appreciation for you. We must take reports with a grain of salt. Speak with your local real estate agent for information on your neighborhood.

Info from KCMBlog.