Pricing A Home To Sell

Real estate agents used the pyramid chart to price properties for successful sales for many years. This can be a helpful guide when selling and your property is not getting many showings, or low offers. Buyers may also use this as a guide to prepare an offer.

Either way it works….Happy home buying and selling 🙂

Tip…US census-a relocation resource

census

An abundance of useful information when you are considering or shopping for a new location.

https://www.census.gov/

Natural light with the blinds closed

Blinds

Here’s a quick inexpensive way to add natural light to your home and not give up privacy that blinds provide. I picked this tip up from a home seller that wanted to brighten the rooms without having to remove the window treatments. They took the 2″ blinds and lowered them about 10 inches from the top of the window frame. Not only did they add natural light but it also presented the window itself with a more expensive look. Best of all it was free and a finished home project in one day.

Happy home selling 🙂 Let the sunshine in 🙂

Shopping for real estate in inclement weather ☔️

rain

A poor weather forecast may be one of the best times to look at a property that you have an interest in purchasing. An abundance of information may be clearly noticed during different types of extreme weather. During the buying process knowing these things ahead of time will enable you to budget for issues that may need attention early in your ownership.

Here are some things you can easily discover:

Leaks in the roof, chimney, ceiling vents or around the windows
Water intrusion in a basement, garage, or enclosed porch areas
A sagging roof from the weight of snow
Loose roofing shingles during heavy wind
Insufficient drainage on the property
Air drafts in the fireplace, door and window areas
Heating and cooling units not efficiently adjusting the room temperature
Slow plumbing drainage
Instability of the ground , wash outs
Crackling tree limbs with high winds
Exterior sloping of driveways and sidewalks that may be difficult to manage with ice and snow

If you are working with a real estate agent ask them what issues are commonly found in the area. They can help you work through any concerns and ask your home inspector to make suggestions of areas that you can keep an eye on to avoid common problems. You will also be able to make an informative decision on any extra insurance that you may want to carry.

Happy puddle jumping 🙂

Finding out what a property is worth

Sellers of real property and buyers of real property have the common goal of obtaining the best possible price and terms in the transaction.

Here are a few suggestions to help you determine market value if you are thinking of buying or selling real estate.

Appraisal services are offered on a fee basis depending on the complexity of the property. A small tract of land or a home in a neighborhood contains information from a local Realtor multi list system, tax records, and court records. An appraiser uses listings currently on the market, recent sold properties, along with adjustments for size and improvements. Photos are included in the report along with comments explaining the reason for adding or subtracting value when using the comparable approach. For more complex properties such as commercial sales, land developments, farms and multi family properties reports may be quite lengthy and include an analysis of the present and future return on the investment. Appraisers are licensed by the states they perform services and their opinion of value is very reliable.
A comparative market analysis is provided by a real estate agent, also know as a CMA. The data offered is pulled from a local Multi list system that the agent is a member of. The information includes competitive listings, recent comparable sales to what you are preparing to buy or sell. Most real estate professionals offer this service at no additional cost to their agency agreement with the client. It is very reliable for most residential and lot purchases.
Tax assessor records are easily accessible today with most areas offering online services. Depending on how often records are updated you can get an information for what you are selling or buying. If recents improvements are noted and the information has been accurately input you can get an idea of where the value may be. Some assessors sites also show recent sales surrounding the subject properties.
Real estate and mortgage lender internet sites can also be a resource for finding the value of a property. Depending on the site and how often the information is updated, and the accuracy of the information submitted you may get an idea of the value.

Happy buying and selling…… 🙂

New home, small monthly payments

Sitting in the stack of presorted mail on my kitchen table is a photo of someones dream home.
The starburst on the front of the postcard is eye catching enough to make me flip it to the back side to read more. There is an attractive description of the features in the home and the location, but what’s missing is how I can get the $795 payment.

Typically, a new home builder will use what I describe as their “door buster” plan with very standard features to keep the price as affordable as possible. Combining that price with the best rate available on a mortgage program offered in their local market place they will make this offer.

In almost all cases this is not the time for a buyer to get excited. There are many variables when obtaining a mortgage such as a credit score, amount of down payment a buyer has to work with, and the amount of time a buyer may need to close all affecting the interest rate for the payment advertised.
Take the time to make the call to ask for the missing terms, since *full disclosure is required they will certainly have all of the information on hand.
New home builders are eager to keep their customers happy in high hope that you will be a referral source by telling your friends and family how satisfied you were during your home buying experience.

Happy home shopping 🙂

*http://realtormag.realtor.org/sales-and-marketing/feature/article/1996/12/do-your-ads-satisfy-reg-z-patrol

548 Braves Field-New home for sale-Savannah Ga.

New home in an amenity packed community just west of Savannah Georgia. Honey Ridge Estates. Pool, tennis, fitness, and a community room are available for the residents.

This home features four bedrooms with a split bedroom plan. All brick exterior, screened in back porch, private .70 acre wooded yard. Builder adds many upgrades with wood flooring in main areas, ceramic tile in baths and laundry area.

If you are considering a new home in the Savannah area and would like more information on this home please contact ERA Southeast Coastal RE, 912-927-1088

http://www.realtor.com/realestateandhomes-detail/548-Braves-Field-Dr_Guyton_GA_31312_M63089-40830?ex=GA622757430

The high and low tides of owning a beach rental

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Like many vacationers you probably have visited one of the beautiful coastlines in the USA. It’s so hard to leave when the week is over, so here are some tips to get you on the path to owning your own little piece of paradise.

To begin you have to decide where to buy. I like to suggest somewhere that is easily accessible to your home since you will want to enjoy it as much as possible for yourself.
Decide on a price point within your budget and prepare for cost that you would not consider when purchasing a primary home. After those decisions are made determine your short and long term goals especially if this will eventually be a retirement home. There are many vacation rental sites that can offer assistance to determine market value of seasonal rates for selected areas.
Owner expenses to consider:
Mortgage fees may be higher and a larger down payment may be required for a second home and real estate investments.
State and Local property taxes
Resort taxes
Tourism taxes
Parking permit fees
Homeowners association or Owners Regime membership dues
Property Insurance that may include flood and wind
Special assessments for compliance of exterior maintenance and architecturally approved appearance
Utility cost
Mandatory utility charges such as a community wifi and or cable company
Recreation use fees for yourself or your visitors
Permit fees for repair or remodeling contractors
Business license fees if you are going to use your property for short term rentals
Local taxes on the rental income you receive
Advertising cost for your rental
Cleaning and laundry fees

Reserve for replacing appliances and furnishings as needed
Rental management fees
Reserve for vacancies and cancellations

Not all of the above may apply but are noted to assist you in making an informed purchase

Owner benefits:

Collect the rent and pay the bills!

With good planning you’ll own a piece of your vacation paradise with no reservation required!

“Old Fashioned” way to sell still works

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Throughout the years techniques used to attract home buyers continuously changed with new trends coming in a old ideas never leaving.
Since real estate internet sites have now surpassed the “for sale sign” as the most effective way for a buyer to find a property listing a lot of effort is put into making the ad look attractive.
The use of photography has evolved from a front view placed in the newspaper, on to virtually tours and now the use of cameras on a drone to showcase a listing.
All of these methods are definite time savers for a buyer
and can easily shorten their “must see” list.
If you are the seller of a property keep in mind that whatever is photographed does not go to a limited audience. Once it hits the internet not only prospective buyers are looking at what you have to sell. Co-workers, relatives, your neighbors, school friends, church friends and on and on will be able to step into your personal space. Take the time to discuss this with your agent and consider areas of your home or property that you would not be comfortable with anyone other than a prospective buyer viewing.
Regardless of how the property is presented the one thing that never changes is the price being in balance with the value. A property that is priced in line with the current market values for the location and condition is the most effective way to have a successful sale in a reasonable amount of time. Over priced properties will be a great challenge to sell for the asking price regardless of how many billboards, magazine ads, virtual tours, websites they are advertised on….

Advertised pricing based on the condition and location= sold!

Employing a real estate professional

stickey note

Once you have made the decision to buy or sell real property, the next step will be to find the right person to navigate the process for you. Real estate professionals offer a specialized service, but not all are well rounded in every phase of the profession. The most commonly used services are:

Residential home Sales-At the top of the list for the most commonly used, the buyer and seller should use someone that is knowledgeable of the location they are interested in.

New home sales-Many builders will employ staff to handle the sale. Can be beneficial and may save money for a buyer as long as you keep in mind the salesperson will not be representing your interest.

Commercial Sales-this is very specific and your agent should come with proven results of qualification in this field. You can search local real estate boards for agents in this alliance.

Land and farm-Another specialty market and I recommend using an agent with a proven resume of knowledge in this phase.

Resort properties-Some may offer onsite sales representatives that can be very helpful since these properties typically have ownership regimes, rules and limited financing options.

Real estate agents make a great effort to build a referral database of past customers and clients. You may simply find the right agent just by asking family, friends and co-workers for a recommendation.

Always take the time to interview an agent or maybe three. Ask the agent to bring a business resume with references to the interview. You may also ask for a marketing plan to sell, or a summary of their negotiating skills if you are a purchaser. You should not base your decision to hire an agent based on the value they presented of a property unless a prepared analysis is reviewed.

During the interview you should discuss the fee for the service and the terms of your employment agreement. Fees are typically paid on a percentage of a sales price, but some brokerage firms offer a menu of services that are a set rate. An example of a set rate service may be when a buyer or seller already has the negotiations done on a property but needs a professional to take it through the steps to a successful closing.

The relationship between you and your agent should be comfortable and trust worthy. If it is not that way, you can almost be sure it is a mutual feeling. Some folks just don’t click.

Real estate laws vary from state to state, and agents are likely to take required continuing education. So whether the agent is new to the business or a seasoned professional you should be confident that they are keeping your best interest in mind.

Best wishes for selecting an agent that “gets people moving”