Monday, April 23, 2018

How Much Does it Cost to Paint My House?

I get asked this question a lot as folks want to spruce their homes up either for their own enjoyment or for sale.

Painting your home, both inside and out, improves its curb appeal, character and resale value.  Painting is one of the quickest and easiest ways to give your home a face-lift.  And, it yields some of the best results as well.

Choosing the paint can be daunting.  Colors finishes, stains, maintenance, etc.  I have some great resources that can help you with this decision.  In the meantime, let's talk price.






Source:  HomeAdvisor

Want to know the value of your home, or prices in a neighborhood you like?  Contact me!  I have all the accurate information you need to make the Smart Choice.

Elizabeth Scott
The Smart Realtor
919-306-9699
Elizabeth@TheSmartRealEstateAgent.com


Monday, April 2, 2018

Realtor - Agent: What's the Difference and Why Does it Matter?


Recently, I was asked what the difference is between a Real Estate Agent and a Realtor and a Broker.

Here’s the answer and why it is important for you to know this.

  • Real estate agent: Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker or a broker. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license.
  • REALTOR®: A real estate agent who is a member of the National Association of REALTORS®, which means that he or she must uphold the standards of the association and its code of ethics.
  • Real estate broker: A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. A Broker is a Realtor with more experience and knowledge.  Brokers can work alone or they can hire agents to work for them.

Legal and Ethical Obligations of a Realtor / Broker

A Real Estate Broker is a Fiduciary.  So…What the heck is that??  A fiduciary manages another party's assets and has a legal and ethical obligation to put the other party's interests first. For a Real Estate Broker, this means helping clients make decisions that are in his/her best interest.  Even if it means reduced compensation – or no compensation – for the Realtor

A Broker must abide by a strict Code of Ethics.  This includes:

  • Realtors protect and promote their clients' interests while treating all parties honestly.
  • Realtors refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
  • Realtors cooperate with other real estate professionals to advance their clients' best interests.
·       Realtors make sure that contract details are spelled out in writing and that parties receive copies.  This is not the job of the attorney here in NC as it may be in other states.

  • Realtors give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation.
  • Realtors paint a true picture in their advertising, marketing, and other representations.
Experience and education
Real estate brokers not only have higher education requirements than real estate salespersons, they also must have experience working as an agent. For example, in North Caroline the license requirements are as follows:

  • Realtors in other states take 60 hours of classes and pass an exam with both state and national sections.
  • Brokers must take 180 hours of broker-specific classes and pass an exam with both state and national sections.  These classes cover contract law, fiduciary responsibilities, ethics and all the minute details that are required.
Buying or selling a home is the single most complex, important and expensive investment you will ever make.  Why go it alone?  I am a professional Realtor and a Broker.  Contact me for all the info you need for a smooth and successful transaction.  



Elizabeth

Elizabeth Scott, Realtor®, Broker
Diamond Award – High Sales Volume
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC       
Phone: 919.306.9699
http://www.thesmartrealestateagent.com/contact/
Email:  Elizabeth@TheSmartRealEstateAgent.com


Sunday, March 4, 2018

ARE HOME VALUES OVERINFLATED?

The National Association of Realtors (NAR) releasted their most recent Existing Home Sales Report. Here are some interesting things to note:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some concerned that current home values may be overinflated.

However, at the same time, Zillow issued a press release which revealed:
“If the housing bubble and bust had not happened, and home values had instead appreciated at a steady pace, the median home value would be higher than its current value.”
Here are two graphs that help show why home prices are exactly where they should be.
The first graph shows actual median home sales prices from 2000 through 2017.



By itself, this graph could heighten concerns as it shows home values rose in the early 2000s, came tumbling down and are now headed up again. It gives the feel of a rollercoaster ride that is about to take another turn downward.

However, if we also include where prices would naturally be, had there not been a boom & bust, we see a different story.


The blue bars on this graph represent where prices would be if they had increased by the normal annual appreciation rate (3.6%). By adding 3.6% to the actual 2000 price and repeating that for each subsequent year, we can see that prices were overvalued during the boom, undervalued during the bust, and a little bit LOWER than where they should be right now.

We all need a roof over our heads and Real Estate has proven to be one of the best long-term investments you can make. Do you want to know your home's value in our local market?  Let's talk!

Source:  National Association of Realtors



Elizabeth Scott, Realtor®, Broker

Diamond Award – High Sales Volume
e-PRO, Strategic Pricing Specialist

Fathom Realty NC, LLC       
Phone: 919.306.9699

Elizabeth@TheSmartRealEstateAgent.com