Tag: selling
The Blind Date
So, you are in the market for a new home. Maybe, you are retiring? Maybe you are purchasing your first home. Maybe your family is growing and you need more space or you are looking for an investment property. No matter your reasons for wanting to buy a home and no matter how many times you have been through the process, let’s face it, buying a home is really like going on a blind date.
According to datingadvice.com, 43% of Americans have admitted to going on a blind date. We feel like that number might be a bit higher, but a few of us (wink wink) are definitely not going to confess…we plead the 5th! If you are currently in the dating pool you know how terrifying a blind date can be. For those of you happily coupled up or happily single, we know that you too remember what fear the idea of a blind date brings.
You head to a restaurant or coffee shop to meet the intended blind date with a bit of trepidation, excitement, maybe some anxiety. Maybe you hope for the best but expect the worst. Isn’t plunging into the real estate market characterized by the same emotions? You have seen the profile of the house on line, lingered over the photos and description, weighed the pros and cons and have decided to now go on a blind date with that property. Let’s face it, all you know before you enter the front door is how the house appears-it’s external shell. No different than going on a blind date with someone. Your friends or family have likely set you up. Maybe, and in this age of technology, more likely than not, they have shared a photo of your intended blind date with you. As you arrive at the intended meeting spot all you know is what the exterior of that individual looks like. It takes time to peel the layers away to reveal the true character of an individual. A property is no different.
Relationship experts offer up that at an initial meeting it takes anywhere from 30 seconds to 5 minutes for one party to decide if they are interested in the other party or not. How fast do you decide if you are interested in a property or not? Have you ever driven up to a property and realized the reality of the exterior did not match the curb appeal presented on the internet? No different than arriving for your blind date and wondering who the person is that showed up because they look nothing like their profile picture. If you arrived at the property that looks nothing like the presentation on the MLS did you just drive away or spend some time and peel back the layers? My guess is that you bailed….just like I have (yes I am freely admitting this) when my blind date turned out to be old enough to be my father. (the picture I was shown was, how shall we say this nicely, edited).
Let’s explore a different path. You show up for your blind date nervous and anxious. You meet your date and are pleasantly surprised to discover that the exterior in real life does match the exterior a friend or family member showed you a picture of. You spend some time making small talk and suddenly you realize that the nervousness and apprehension are subsiding. You feel comfortable and you like that feeling of comfort. That is no different from walking into a property and feeling the warmth of the home wrap around you like a hug. It is that moment when you know this might just be the right date, the right person, a new start, or the right home for you.
As a Realtor, I understand the emotions that come with buying and selling a home. Arguably this is one of the biggest decisions of your life and the biggest financial decision of your life. It is OK to be emotional. It is OK to have some anxiety, trepidation and reservations. It is OK to date the property that you find comfort in. It is also ok if a goodnight hug is not an option at the end of the date. If the fit isn’t right, don’t force it. My best advice to you: take a deep breath, except the emotions that come with the journey, lean on your agent (i.e. me), and weigh the pros and cons. Whether this is your first time venturing into the market or you are a veteran home buyer, you will survive. Hey you survived a blind date or two, right?
Market News That You Can Use
Despite what you may read, hear or see on the news, Americans are buying houses this winter and especially in Staunton, VA. Housing inventory continues to fall and pending properties/under contract continue to rise.. As I write this post this evening, Monday, February 6th, 2023 our MLS currently has (129) pending/under contract properties and only (73) new listings. While the market is not insanely crazy hot like last year, it is very active. There were so many naysayers out there that in my humble opinion I think some of those folks are surprised about how the market is maintaining traction.
The demand for homes in Staunton, Waynesboro Augusta County and the surrounding areas is strong for the current levels of supply. There are more qualified buyers than there are active properties/inventory on the market. The big question on everyone’s mind is will this last? Who knows? Depending on your choice for media delivery you will hear arguments supporting the continued market and you will find the naysayer arguments. You might be better off consulting your Magic 8 Ball. What I can say is that the best person to ask about the market in your municipality is a local Realtor you know, like and trust. The person the is elbows and eyeball deep in your local area is the true expert.
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Straight from the experts at Altos Research: “the first few days of February 2023 available inventory of homes for sale declined by another 1.8% this week to 457,000. It’s not totally unheard of for inventory this early in the year to keep down for a few weeks. This year’s change though is notable because inventory was rising unusually fast in September, October, and November. if you’re only watching the headlines or if you like to watch the real estate crash Youtubers you’d be expecting now for inventory to be climbing each week and it’s simply not happening.” Inventory across the country is declining because we have more buyers than sellers. What is significant regarding the market is that we continue to see homes that are priced well MOVE. Let me say that again-homes in our area that are priced well are MOVING. And not with just one offer. We continue to homes in locations desired by buyers that are priced well, receive multiple offers and MOVE quickly from “just listed” to “under contract.” Even with the rise of mortgage rates buyers are still buying.
Why does this matter to you? As a seller it matters because we have buyers-and if your home is priced well it will move. As a buyer this means that when a home comes to market, in the location you desire and that home is priced well-you need to be ready to act. Being ready to act means being pre-approved by a lender, working actively with your buyer’s agent and feeling comfortable with the process of buying. Stay tuned for that blog post-Buyers Education 101. Have a great night!
Spring is Coming
Spring is Around the Corner. Is Your Home Ready for the Spring Market?
With the festive season behind us, there is no better time to start preparing your home for the Spring market. Well, I should say there is a better time, the Fall or at least 3 months prior to listing, but many times that just cannot happen. I would ideally have my selling clients start in the late fall if they know they are going to sell their home in the New Year-specifically in the spring. But, honestly, who wants to think about prepping their home for sale during the festive season? We are busy enough with decorating for the holidays, attending functions and traveling. I completely understand why homeowners do not want to even think about getting their home ready for the market until after the holidays. Either way, I am sharing some tips to get your home ready for the Spring Market.
In the Shenandoah Valley, our real estate market slows a little during the winter months but begins to gear back up towards the end of February and beginning of March. Technically speaking, the first day of spring is not until Monday, March 20th, 2023, so maybe we should call this prepping your home for the “pre-spring” market. My current potential clients are planning to list the first-second week in March, so we have been talking and planning since the first week of January. Do not FRET! WE can still have you ready in time for the spring market-just be ready to work 😊
Step 1
Choose a Realtor: We are a wealth of information and we have an iPhone full of preferred vendors who can get your home ready for the market. For instance, when you list with me I am not only your Realtor but project manager, home stager, marketing executive, counselor, task organizer and trusted advisor. A full-service experience!
I know this might seem like a no-brainer but a Realtor is more than someone who will just throw you house on the MLS. You want someone who will be with you every step of the way. From pre-listing appointment to the closing table. That includes getting your home ready to market while also starting to pre-list your property to find potential buyers. Frequently I get asked “how do I choose the right Realtor? (hmmm that might be the next blog post)”. The best advice I can give-is choose someone you feel comfortable with. Someone that is going to work not only for you, but with you.
Step 2
Upgrades and Repairs: Your Realtor will help you decide where your investment in upgrades is best spent-or if you need to spend any money in upgrades prior to listing your home. For instance, maybe adding a new dining room light fixture or an updated kitchen faucet will be all you need to do. Your Realtor will also be able to coordinate with getting those upgrades done and be able to provide you with sources for materials and contractors.
Step 3
Declutter and Pack: Put yourself in the mindset that you will sell. So, declutter and pack up. I recommend (3) categories: donate, discard, keep. Donate or toss items you no longer need or use. I love the rule of twos. If you have not worn it or used it in (2) years then toss or donate. Super handy trick-buy post it notes in (3) colors to label household items for the donate, discard and keep categories. When it comes to packing for your next home consider my other Rule of 3:
When a home is staged and priced right the goal is to sell in under 3 months. From list to the closing table. If you are not going to use it or wear it in those three months, consider packing it. Also consider renting a storage space to store items that you will not be using while your home is on the market. Sometimes we need to edit furniture, artwork and personal pictures to showcase your home’s beautiful features. Instead of cluttering up the basement, garage or guest room renting a storage unit is a great idea.
Step 4
Paint: In my experience in staging and real estate, every home has had some paintwork. Maybe there is peeling paint on the crown molding or maybe you tried a trend a number of years ago that is now outdated. Paint is a great return on your investment. Here are some links to most sought-after pain colors.
https://www.southernliving.com/home/colors/paint-colors-that-increase-home-value
Step 5
Stage: Staging Sells. Staging Sells. Staging Sells. I still get told by clients, “I am not going to stage my home.” I always reply, “Yes we are staging your home.” Staging is NOT just the rental of furniture for a vacant space. Staging is often the act of editing and re-arranging your current furniture, styling your bookcases & mantles, rearranging your kitchen cabinets and counter-tops. As your realtor I will help you with styling, staging, editing and making sure your home is staged right to sell.
https://www.nar.realtor/blogs/styled-staged-sold/why-staging-matters-even-in-a-sellers-market
Working together, we can make your home ready for the spring market. Let me know how I can assist you in the best way and look for new blog posts coming soon.
-Carolyn
therealtorrn 