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Wednesday, July 25, 2012

Four Key Strategies to Sell Your Home for Top Dollar

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Wouldn’t you love to sell your home in the least amount of time possible and get top dollar in the process? As we work with our clients, our number one goal (aside from ensuring they are completely satisfied) is to get them the most out of their transaction. For sellers, this means getting the most money for their property, in the least amount of time and without any hiccups in the process.

To achieve that, we employ four key strategies, which I’ve shared with you here that go hand in hand with our commitment to our clients.

Make Your Property Stand Out From the Crowd

Giving buyers the perception of value is very important component of the selling process and the condition of the property is critical. Go through the property, check every aspect and make sure everything is in tip-top shape. If possible, have a home inspection performed to get an idea of any areas needing attention.  Make sure that all necessary repairs are taken care of so that the buyer does not feel anything remains unresolved. Keep in mind, little things should also be resolved such as fixing weather stripping that might have worn down, or patching up holes from previously hung wall art or even just cleaning up an overcrowded garage.

Achieve Maximum Exposure of Your Home in the Market

Make sure you hire an agent that is prepared to invest heavily to make sure your property stands out in the crowd. With as many as three times the number of homes on the market as there are buyers right now, it is essential that your property is outwardly visible and stands apart from the rest. Differentiating your property will make or break your sale and even cause a perfectly viable sale never to go through if your property goes unnoticed by the perfect buyer.

Engage In a Realistic Pricing Strategy That Works

Too many homeowners make the mistake of pricing their home incorrectly. You want to price your home to market but it also must go hand in hand with buyer behavior and market trends. The number one goal when selling a home is to get the home sold and unless there is buyer interest and showings taking place, the chance for a solid sale is slim to none. Be prepared to adjust the price regularly – and review it monthly to decide whether you need to change something.

Make Sure You Are Backed By a Solid Team of Professionals

The best advice I have to offer you is to make sure you hire a strong team or a solid real estate professional that is dedicated to serving your needs. That may sound trite but the truth is that until and unless you have professionals backing your real estate dealings, you stand to go through just another run-of-the-mill transaction with mediocre outcomes. It goes without saying that the desired result is to get top dollar on the sale of your home – and it needs to be achieved effectively, without wasting a single extra minute of your time.

We are here to do that for you. Contact us today!

Wednesday, July 18, 2012

CHANGING HABITS (By Michael Dylan)

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Human beings are creatures of habit. We get into a routine that we are comfortable with and we stick to it unless something big comes along and shocks us out of it. Our daily habits often force us to put up with all kind of degrading and destructive events, all in the name of keeping things comfortable or familiar. We would rather put up with the habits we know because we can put up with them, rather than create new habits that we have never experienced before.

The excuses for clinging to our habits range from almost acceptable to completely neurotic. For example, staying in a job that you don't like so that you can continue to pay the mortgage and feed your family is almost an acceptable excuse for staying at your job. It would be just foolish to suddenly quit and start thinking about how to pay your bills.

But it is wrong to think that this job that you dislike has to be it for the rest of your life. Sure it's comfortable, you know you can do it, but don't you owe to yourself, your family, and your employer to get out and do a job that is right for you?

Nothing will change if you don't change. The first step is recognizing that change is necessary. Secondly you have to figure out where you would be more fulfilled in your career. Maybe you have to do something more creative, something outdoors in nature, something that allows you to be in different places, or maybe you have to be the one making all the decisions with your own business. When you are clear about what it is that you really want from your career, you have to start taking steps towards it.

A new job is not going to come running to you just because you're unhappy with your old one. If it's a new industry you may have a lot to learn before even thinking about applying for new positions. You may have to take classes at night while you put up with your dull job during the day.

If it's your own business that you dream of, you may have to start from your home. Working during the night and weekends to move closer to doing it fulltime and leaving your old job.

Just because we are familiar with something is no reason to continue doing it. It's easy to get caught up in day to day living - especially if you have a family to take care of - and to put off any changes that could improve your life. Change can invoke fear, insecurity, and feelings of loss in people. Make the change anyway!

Life is not pausing for you while you are putting up with something that you dislike. Life is passing you by while you waste it doing the wrong thing. There's no rewind button, there's only now, and if you're not happy with your now, Change it!

Thursday, July 12, 2012

Mid-July Market Update – Mecklenburg, Union Counties

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Here are the latest market statistics, relevant to our areas. This information is useful in gauging the overall market performance in Mecklenburg and Union Counties real estate, however for a detailed rendition of specific areas, upon request we can provide an analysis based on your desired location.

Mecklenburg County

With 7,017 homes on the market right now, we are currently reporting 2,436 pending sales and 4,581 homes still on the market for sale. The pending sales ratio is 34.7%. The higher the ratio, the more that listings are in demand, indicating a continued seller’s market trend.

The highest number of pending contracts fall within properties in the $100,000-$200,000 price range. The same price range bracket of $100,000-$200,000 has a relatively large inventory of properties for sale at 1,416 listings. Mecklenburg County’s average list price for all price ranges is $363,296 – slightly lower than last month’s figure.

The previous six months have shown a total of 4,427 closed contracts with an average sold price of $240,016 – an improvement from last month. The most sold listings currently have come from the seemingly most active price range of $100,000-$200,000. Alternatively, 3,255 properties have not sold in the last six months. Reasons for a home not selling range from overpricing to inadequate marketing or less than ideal showing condition. The highest number of off-market listings at 1,078 properties also falls within the $100,000-$200,000 price range.

The current Days On Market in Mecklenburg County hovers in the same range at 117, just one day less than June’s number. The average DOM over the last 6 months is 105 days, just three fewer days than last month’s DOM. The fastest selling homes during this time were once again in the $1.2M-$1.3M price range with a higher average sold price for the last 30 days of $294,897. The average DOM for these properties was 92 days.

We currently have 6.2 months of inventory based on sales in the previous 6 months. Assuming that it would take this much time to sell all the current inventory if market conditions remained the same, this indicates a balanced market.

Union County

We have not seen a significant change in the numbers from last month versus today’s statistics. The total number of homes on the market in Union County is currently 2,139 with 631 sales pending and 1,508 active listings. The pending ratio is 29.5%, indicating more supply than there is demand. Once again, homes for sale in the $100,000-$150,000 price range are seeing more contracts pending sale. Similarly, the price range of $150,000-$200,000 is showing a larger inventory of available homes at 267 listings, higher than last month. The average list price for all price ranges in Union County this month is $330,291, very close to the previous month.

In the last six months we have seen a total number of 1,127 closed contracts averaging in price at $255,058 – with the highest number of sold listings in the $100,000-$150,000 price range, one step lower than the previous month’s report. As of this report, 970 listings have failed to sell in the last six months for various reasons stemming from marketing technique, inadequate pricing or poor property condition. The highest number of off-market listings at 174 properties are in the $100,000-$150,000 price range, mirroring the price bracket change from our last update.

Homes in Union County are taking an average of 135 days to sell and the DOM during the last six months was reported at 111 days, hovering very closely to last month’s number. The previous six months saw an average sold price of $255,058 with the fastest selling properties once again selling in the $450,000-$500,000 price range.

Union County’s average sold price during the last 30 days dipped slightly at $259,500 with an average DOM of 99 days, just two days short of last month’s number.

Slightly down from last month, we are at 8.0 months of inventory in Union County based on the number of properties sold in the last 6 months. According on this, assuming market conditions were unchanged, it would take 8 months to sell all existing property listings on the market.
Keep in mind, these numbers are general and will impact each prospective buyer, seller and investor differently based on the goals at hand. We encourage you to contact us for a customized consultation, entailing detailed and relevant information suited to your specific real estate needs.

Download Your Reports at the Links Below!
Union County:
Mecklenburg County:

Tuesday, July 3, 2012

4 Questions Buyers Must Ask Their Agents

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A home buyer must be thorough when choosing which agent to hire in order to aid them with the purchase of a home.  For many people, this will be one of the biggest investments of their lives, so putting forth diligence and research and feeling comfortable with the right real estate agent is a key step in starting the home buying process.  There are four key questions a buyer must ask their potential agent before they hire him or her.

Number of Sales

The first question a buyer must ask is “How many homes has the agent sold this year?”  The number of sales is a very good indicator of the amount of experience the potential agent has in today’s market.  The market changes quickly; this year’s market is different than even last years, so knowledge of the hot button issues of today’s market is a significant factor in the negotiation process.

Years of Experience

The second question a buyer must ask is “How many years of experience does the agent have?” The real estate industry is an industry that has low barriers of entry because it does not take much for a person to get a real estate license.  Because of this low barrier of entry, many people achieve their real estate license and work as an agent only part-time.  To find the most qualified individual, make sure that they have good experience as a full-time agent.

Administrative Support

The third question a buyer must ask is “What kind of administrative support does the agent have?”  Any championship sports team or Oscar winning film crew will tell you that a good supporting cast is paramount to success.  The agent you are working with may have great people skills and negotiating skills, but may partly struggle with paper work.  This is why it is imperative that the agent has a dedicated and skilled administrative staff.

Find a Specialist

The fourth question a buyer must ask is “Is the agent a buyer’s specialist or a jack-of-all-trades?”  A serious buyer will be much more successful with an agent that is focused on specifically helping buyers.  Many real estate teams have members who have distinct functions and skill sets.  Find the agent that is a true expert in their field.

For any home buyer, asking these four questions is critical to making the decision on which agent to hire to help find the best home and best deal for the buyer.  Having the best buyer can relieve a great deal of stress for any home buyer and make the home buying experience an enjoyable one.