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.
Saturday, July 9, 2011
Friday, July 1, 2011
What Do I Need to Ask???
There is a GREAT post on Allen Tate's At home blog today. I didn't realize that I haven't posted in over a week (YIKES!), so I guess I should be ashamed for just pointing you in the direction of another blog, but I really do think the info is relevant. I was especially impressed by the "other obligations" question. That has really become relevant for me, as yes, as a matter of a fact I DO have other obligations now... namely an adorable 2 year old and precious 1 year old! But, never fear! I realize this may be a hindrance to our partnership. Everyone is totally cool with the need for family time, but let's face it, when you want your agent, you want your agent NOW. So, yet another reason why I am soooo thankful I have partnered with Lisa. She can fill my gaps, and I can fill hers. Aaaahhhh.... it's a 2 for 1 deal!
The other part that really spoke to me dealt with what communication mode you prefer. I will text, email, tweet, call, etc... and not all agents can say that. If texting is important, make sure you work with an agent who regularly communicates that way. If phone calls are important, make sure your agent has her mobile phone with her constantly. If email is your preferred method, make DOUBLY sure they have mobile email capabilites and don't just check their messages once or twice a day. Time is of the essence, folks!
Read the full article here.
The other part that really spoke to me dealt with what communication mode you prefer. I will text, email, tweet, call, etc... and not all agents can say that. If texting is important, make sure you work with an agent who regularly communicates that way. If phone calls are important, make sure your agent has her mobile phone with her constantly. If email is your preferred method, make DOUBLY sure they have mobile email capabilites and don't just check their messages once or twice a day. Time is of the essence, folks!
Read the full article here.
Monday, June 20, 2011
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.
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.
Friday, June 17, 2011
WOWEE What a Price!
We have just reduced 7260 Shadowridge in Wellesley Place to $175,000... WOW!! This immaculate, all-you-need-on-one-level home is a fantastic Lewisville value, AND is has over 900 square feet of upper level expansion potential. Click here to see a photo tour!
Friday, June 10, 2011
Good Housekeeping Tips!
Ever wonder how people years ago kept their homes clean? I mean, they didn't have our science or technology, so they must have had problems with general cleaning, right? Wrong!
The Allen Tate blog (http://athome.allentate.com) has a great post today about common household items and how they can be used for cleaning. Check it out here!
The Allen Tate blog (http://athome.allentate.com) has a great post today about common household items and how they can be used for cleaning. Check it out here!
Monday, June 6, 2011
You Mean I Have to Sell it TWICE??
So many people contemplating selling their homes these days are just blown away when their agent tells them they have to sell their house twice. What???
Not only do we have to find a ready buyer who is willing and able to pay a price agreed upon by both parties, BUT the home has to appraise. It doesn't matter if a buyer is willing to pay $315,000 for your home... if they're getting financing (and most are), and it doesn't appraise for $315,000, they will not get the loan. Appraisals take into account active competition but most importantly sold competition, and foreclosures throughout the marketplace have compressed prices to the point that appraisals are getting TIGHT. Appraisers, mortgage lenders, brokers, etc. are all feeling the repercussions of looser lending standards and appraisal guidelines of the past, so if an appraisal falls short, it falls short. Gone are the days of an appraiser pulling a few thousand out of the sky to reach contract price.
So then Mr. Potential Seller says "well if they really like my home they will make up the difference". Possible, but unlikely, especially in today's market. How many of today's buyers (especially buyers with diligent and thorough agents representing them) are going to be willing to pay more for a home than it is worth?? People are uncertain of their futures, and inventory is too high for this to happen.
So, selling to a buyer is one thing, but the REAL test is selling it to the apprasier. Consult your trusted Realtor before you name your price. You may feel as if you are losing $$$, but you will actully be SAVING money in the long run in the form of carrying costs, lost time, and the inability to purchase yourself, by pricing it realistically from the get-go!
Not only do we have to find a ready buyer who is willing and able to pay a price agreed upon by both parties, BUT the home has to appraise. It doesn't matter if a buyer is willing to pay $315,000 for your home... if they're getting financing (and most are), and it doesn't appraise for $315,000, they will not get the loan. Appraisals take into account active competition but most importantly sold competition, and foreclosures throughout the marketplace have compressed prices to the point that appraisals are getting TIGHT. Appraisers, mortgage lenders, brokers, etc. are all feeling the repercussions of looser lending standards and appraisal guidelines of the past, so if an appraisal falls short, it falls short. Gone are the days of an appraiser pulling a few thousand out of the sky to reach contract price.
So then Mr. Potential Seller says "well if they really like my home they will make up the difference". Possible, but unlikely, especially in today's market. How many of today's buyers (especially buyers with diligent and thorough agents representing them) are going to be willing to pay more for a home than it is worth?? People are uncertain of their futures, and inventory is too high for this to happen.
So, selling to a buyer is one thing, but the REAL test is selling it to the apprasier. Consult your trusted Realtor before you name your price. You may feel as if you are losing $$$, but you will actully be SAVING money in the long run in the form of carrying costs, lost time, and the inability to purchase yourself, by pricing it realistically from the get-go!
Wednesday, June 1, 2011
Lightning DOES Strike
Lisa and I were fortunate to list a home last week in Clemmons that has already gone into due diligence. Luck? Maybe... but this seller knew the market. She had been subscribing to my neighborhood newsletter for a couple of years, in which I kept residents informed of recent listings and sales in this particular Clemmons neighborhood. When it came time for her to sell, she and I sat down and reviewed the latest comps. Honestly, the numbers were very disappointing to her, so she had to think about it for a few days. She considered renting but decided the hassle and potential problems of being an absentee landlord just weren't worth it. She put her home on the market in show ready condition and at the recommended price. We had 9 showings in 8 days, one offer that was negotiated and then accepted, and a potential back up offer coming. No matter what the media would have you to believe, lightning DOES strike in Clemmons in the form of education, research, and being an informed consumer!
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