Archive for the 'Real Estate Market' Category
Get Top Dollar For Your House
August 19th, 2008 categories: Home Selling Advice, Real Estate Market
If the time has come to sell your house, you will surely want to get the highest price possible for it. Below are some suggestions, based on years of experience, that will help you get the most for your home, whatever the current market is like. Yes, you will have to spend some money up front. But better to spend it now than rush around in the weeks before closing trying to get a good plumber, electrician, etc. You will also be prepared for the buyer’s inspection.
So here goes (not in any particular order):
1. Get a home inspection. Yes, pay $500 bucks or so to get a full home inspection. This will tell you all you need to know about your house. Generally I recommend you fix everything. Some will be super simple and you can do it yourself if you are handy. Some, like plumbing and electrical, will require a professional. Get a pro and keep the receipts. This might costs hundreds, or even thousands of dollars, but you will reap the rewards at closing. Advertise as pre-inspected and make the inspection available to buyers. Trying to hide problems never works.
2. Mold inspection. Get one if the home inspection recommends it or if you know there is visible mold in the crawl space. This is the new “red button” for buyers. The mere mention of mold, which is in EVERY house in the world, strikes terror in the buyer’s mind. A mold inspection by an independent inspector will cost about $300, depending on the size of the house. Fix as suggested. Yes, more money spent.
3. Clean!!!!!!Clean like never before! It is easy to become comfortable with a certain level of “mess” in our houses. Buyers want their own mess, not yours. Either break out the rubber gloves and cleaner or call in the pros and tell them you want the deepest cleaning they have. This will really help sell your house. The hard part is keeping it clean as time drags on. Don’t falter. It’s not fun but it IS necessary to keep it clean and smelling fresh. (Change your air filters a lot.) This includes the garage, decks, and any sheds!
4. Remove collections. Your frog collection is wonderful, but it is time to pack it away. You will be moving everything anyway, so get a headstart and pack up all your collections. Plus, do you want your expensive items out where children of buyers can get at them?
5. Reduce furniture. It is amazing how much can get packed into a house over the years. Now is the time to sell, store or donate some of it. You want to open up the house and let buyers see how big the rooms are. Stage furniture for maximum impact.
6. The dump is your friend. Get rid of all the garbage, broken items, etc. Be brutal. Take it to the dump and be rid of it. If it is in good shape, donate it and get the tax deduction. Or sell it and get the cash.
7. Paint. Do it yourself or hire someone, but do it. It is easy, quick and cheap. Inside and out. And it has a tremendous impact on the curb appeal of your house. This one task probably has the greatest return on time spent. Keep colors neutral.
8. Clean your yard. Mow, mulch, get rid of “yard art”. Your yard will be the first thing a buyer sees. You want it to shine. Drive around your neighborhood and see what houses stand out to you. Copy them. Power-wash your sidewalks, decks and driveway.
9. Hire me as your listing agent.
Does everyone do these things? No. Most don’t. They are reluctant to spend the money up front. They think they will just take a few bucks off the asking price if the buyers wants stuff fixed. Big mistake. The buyer will invariably demand WAY over the actual cost on any item. And you will be scrambling to fix items between the inspection and closing. Not a good thing.
The question is: Do you really want to sell your house? If so, then you should do everything possible to get it in prime condition. The above suggestion will go a long way in helping you do that. Give me a call if you want more in-depth advice.
| Discussion: 2 Comments »
521 Ives Court, Providence Glen, Chapel Hill, NC
July 28th, 2008 categories: Neighborhoods, Real Estate Market
Just on the market! A great condo in the desirable Providence Glen community. This is a second floor unit, model Alexander IV, with great views of the woods from the dining room and master bedroom. There are two bedrooms and two full baths. Being a condo, there is no outside maintenance to worry about so your time is free for other things. There is a community swimming pool as well as a tennis court and playground. Located just southwest of the I-40/15-501 intersection, this community is close to everything, whether UNC, Chapel Hill, or RTP.
There is an elevator for your use and each building has a locked entry. This unit comes with a outdoor storage shed. Come and check out this wonderful condo. For more information give me a call at 919-417-9753.
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Do People Read What They Sign? - The Mortgage Bailout
July 10th, 2008 categories: Real Estate Market, Real Estate News
There is a lot of talk on Washington and some states about enacting legislation to help home-owners that can no longer make their mortgage payments. This is typical feel good nonsense from the politicians. Yes, the real estate market is in a mess, people are struggling, homes values are dropping. But, I have one question. Did these home buyers read what they signed at closing? At every closing I’ve had, the terms and conditions are very clearly spelled out for the buyers. As well as what happens when things take a turn for the worse. It is all there in black and white. There is no gray area.
Now these people are screaming for the politicians to do something. And politicians, being what they are, are more than willing to help out. I have a suggestion. Tell these home buyers to deal with it. They made the choice to get that mortgage and buy that home. Millions of home buyers were very happy riding the real estate bubble. Now that the bubble has burst they are not so happy. Let the market do what it does best. It will correct the problem on its own. It won’t be pretty, but it works. The only thing politicians can do is mess it up.
These people signed a legitimate contract. It is their problem, not anyone elses’. It is called tough love. People need to start reading what they sign and deal with the consequences if they can’t live up to the terms of the contract. They should NOT be bailed out by the rest of the taxpayers. We have problems enough of our own.
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Springcrest Neighborhood Update
May 30th, 2008 categories: Neighborhoods, Real Estate Market, Real Estate News
Time for some updated numbers on Springcrest. Springcrest is located on the east side of Erwin Road just north of the Sage Rd. intersection. It is convenient to everything, and is within walking distance of East Chapel Hill High School. (OK, it is a long walk, but high school kids can use the exercise.) It is just a short hop to 15-501, Duke, UNC, shopping and other area services.
The chart shows the number and stats of the active homes in Springcrest, as well as the houses that have closed in the past six months. Activity has picked up since February, which is usual. But take a look at the average asking price/sf vs. the average selling price/sf. This could be a reason the Days on Market has crept up. Today’s market is not the same as two years ago. Asking prices need to take this into account. Even so, Springcrest is a very nice neighborhood and worth the look. So, if you are looking for a nice home, convenient to everything, and in the East Chapel Hill High School district, give Springcrest a shot.
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6012 Turkey Farm Road, Stoneridge, Chapel Hill
May 23rd, 2008 categories: Real Estate Market
My listing at 6012 Turkey Farm Road is in full bloom and looking great! Come and see what could be yours! The home is located at 6012 Turkey Farm Road, Chapel Hill, NC. It is in the highly desirable Stoneridge/Sedgefield neighborhood. Situated on four acres, this home overlooks the Johnston Mill Nature Preserve. After wandering through your own four acres you can go across the street and spend hours in the preserve. Great privacy, yet you are close to everything! You also get the great Chapel Hill schools, without the city taxes. (There is a small school tax on top of the county tax, but it is well worth it!)
The house has three bedrooms and three full baths. There are also two additional rooms that could be used as offices, media rooms, exercise rooms - you decide how to use them! Great attached garage workshop, as well as a large outside storage shed. Great kitchen, breakfast area, family room to spend a lot of quality hours. Or get away to the comfortable living room for some quiet. There is a large back deck to relax and enjoy nature.
CLICK HERE for a VisualTour of this listing.
For more information on this wonderful home, give me a call at 919-417-9753, or email me at jjod3@earthlink.net.
UPDATE - This house is now UNDER CONTRACT! Everything looks good, but you never know. If you want to be kept informed should it go back on the market just shoot me an email.
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Transfer Tax Down In Flames
May 14th, 2008 categories: Around Town, Real Estate Market, Real Estate News
The residents of Orange County soundly defeated the County’s attempt to institute a transfer tax on the sale of homes in Orange County. Excellent! In a time of rising gas prices, rising food prices, rising prices for darn near everything, the last thing we need is local government sticking us for more taxes. In my opinion, they already have plenty of tax revenue for everything they really need to do,
The transfer tax would have been passed along to buyers and sellers, thereby raising the price of buying a home.
Well done voters of Orange County!
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Stoneridge-Sedgefield Market Update
May 7th, 2008 categories: Neighborhoods, Real Estate Market, Real Estate News
Time for an update on the statistics in the Stoneridge/Sedgefield neighborhood. It is located along Whitfield Road about one mile east of 86. It is in the area that is in the Chapel Hill School District, but not in the city limits. So, great schools, but no city tax. (There is a special school tax, but it is worth it!) Most of the homes in this neighborhood were built in the early to mid eighties, with at least an acre of land.
The chart shows the number and stats of the active homes in Stoneridge/Sedgefield as well as the houses that have closed in the past six months. These figures are a pretty good indicator of the average price in this neighborhood. You occasionally get houses priced much higher, but those are BIG houses on BIG lots!
So, if you want to be close to everything, but still have your “space”, check out Stoneridge/Sedgefield. Email me, or give me a call at 919-417-9753 if you want more info.
| Discussion: 1 Comment »
Do Gas Prices Impact Home Prices?
April 29th, 2008 categories: Home Buying Advice, Home Selling Advice, Real Estate Market, Real Estate News
OK. The price of gas is soaring with no end in sight. It is impacting food prices, delivery prices, you name it. It seems to negatively touch every part of your life. But does it impact the sale of your house? In a word, yes.
Think about it. You have two houses similar in size, yard, schools, etc. The only difference is one of them is 15 miles from everything. The other is 1 mile. Which do you think will sell? At $1 or even $2 a gallon, maybe no big deal. But with gas in sight of $5 a gallon you better believe buyers will take it into account.
So, what do you do? If you are the house close to everything, rejoice and play up that aspect! If you are out in the wilderness, don’t necessarily despair. There are buyers who will WANT to be far from everything. Play up the privacy, solitude, close-to-nature aspects of your home. It may take longer to find that particular buyer, but they are out there.
Commute time has always been important to buyers. Now add the COST OF COMMUTE to the list!
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6012 Turkey Farm Road - Stoneridge - READY FOR SHOWING
April 15th, 2008 categories: Neighborhoods, Real Estate Market
The beautiful home located at 6012 Turkey Farm Road in Stoneridge is now open for showing. Have your buyer agent set up a showing! The visual tour has been updated with interior pictures. The MLS # is 993245.
CLICK HERE for a VisualTour of this listing.
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6012 Turkey Farm Road - Stoneridge, Chapel Hill
April 1st, 2008 categories: Neighborhoods, Real Estate Market, Real Estate News
There is a new listing on the market! The home is located at 6012 Turkey Farm Road, Chapel Hill, NC. It is in the highly desirable Stoneridge/Sedgefield neighborhood. Situated on four acres, this home overlooks the Johnston Mill Nature Preserve. After wandering through your own four acres you can go across the street and spend hours in the preserve. Great privacy, yet you are close to everything! You also get the great Chapel Hill schools, without the city taxes. (There is a small school tax on top of the county tax, but it is well worth it!)
The house has three bedrooms and three full baths. There are also two additional rooms that could be used as offices, media rooms, exercise rooms - you decide how to use them! Great attached garage workshop, as well as a large outside storage shed. Great kitchen, breakfast area, family room to spend a lot of quality hours. Or get away to the comfortable living room for some quiet. There is a large back deck to relax and enjoy nature.
CLICK HERE for a VisualTour of this listing.
For more information on this wonderful home, give me a call at 919-417-9753, or email me at jjod3@earthlink.net.
| Discussion: 1 Comment »
