Tuesday, January 28, 2014

Six Biggest Home Seller Mistakes



SIX BIGGEST HOME SELLER MISTAKES
Are you thinking of selling your home?  Ready to upsize, downsize, rightsize?  According to a recent survey of practicing Realtors, here are the SIX BIGGEST HOME SELLER MISTAKES.  
 
1.  Overpricing.  Here’s what sellers tell me:  we want to price it higher than recent comparables to leave room for negotiation.  In today’s low inventory environment, there is not much negotiating going on. 
               FACT:  In 2013, homes in our local Triangle market that were priced right sold at 98 percent to over 100 percent of asking.  And, they sold in only 61 days.  Homes priced incorrectly (higher than comps) sold for an average of only 90 percent of original asking price and languished on the market for 161 days or more. 
               Question to ask yourself:  how much did those 161 plus days cost me in terms of inconvenience (keeping the home immaculate every day for showings) and cost (mortgage, utility, and other payments)?

2.  Showing Availability.  Yes, it is truly painful to have to keep your home neat and then leave for every showing.  We agents understand and do our best to give as much advance notice as possible.  However, keep in mind that no showing = no selling.  If you deny a buyer an opportunity to view your home while we are out viewing other homes or make tight restrictions around times your home is available, we are moving on without even looking at or considering your home.               
          FACT:  Annual showings here in our local Triangle market increased 15 percent in 2013.  And sales increased 22 percent – see the correlation?  
            Question to ask yourself:  Am I ready to put in all the effort that it will take to make it as easy as possible for buyers?  Show that house anyway, even if it is not perfect that particular day.

3.  Cluttered Space.  This is one of my biggest challenges when working with sellers.  You watch the TV shows – how many homes do you see for sale that are full of you’re the sellers’ tchokes, family photos, religious or other collections?  That’s right – none!  When you list with me, I will take you around so you can see first-hand what your competition is and then put in touch with staging and other experts who will help you show all the things you loved about your home when you bought it to other buyers and get you a quick sale. 
               FACT:  32 percent of Realtors state that this is the biggest hindrance to the sale of your home.
               Question to ask yourself:  Are you ready to do what you need to do to get to your goal quicker and with more money?  Bring in those experts and then do what they say.  They are well worth the very nominal fee they charge.

4.  Unpleasant odors.  We become immune to our home’s smells, but I guarantee you that buyers are not.  Has Fluffy been using a corner of the dining room as a loo?  Does the Marlboro man/woman live there?  Take care of it – buyers notice!
               FACT:  100 percent of my buyers will not even consider a home that has pet, cigarette, or other lingering odors.  And, don’t believe those commercials where one or two spritzes of an air freshener will rid your home of these odors.
               Question to ask yourself?  Am I ready to hear the whole truth about the condition of my home and do what’s needed to get it sold?

5.  Unwilling to negotiate.  Many factors go into finding the right buyer for your home – not just someone saying they are willing to pay full asking price.  Buyer mortgage qualification and contingencies  factor in the first round.  Then come the lender appraisal and items that may be required from the inspection.  Negotiations are ongoing all the way up to the end of due diligence period, so be prepared.

               FACT:  The deal isn’t over until it’s over, so don’t pop that cork yet!  The lender may not agree with your price and come in with a lower price.  Repairs may be needed.
               Question to Ask Yourself:  Am I willing to be reasonable throughout the entire due diligence period to accomplish my goal of getting my home sold?

6.  Won’t make repairs.  So, you’ve agreed upon a near-asking price and items are uncovered about your home during the inspection that need to be done.  These items are reasonable requests based upon an expert finding that the items do not function as intended. 
               FACT:  Saying you are selling the home “as is” doesn’t cut it anymore.  You have an agreement to deliver a home that works as a home should work.  Make the repairs.  Better yet, pre-inspect your home so you won’t have any last-minute surprises.
               Question to ask yourself:  Am I ready to handle any and all reasonable repair requests?

Selling your home is a big decision.  You need the knowledge, expertise and attention to detail that a great Realtor provides.  It’s not just about putting up a sign and putting it on the internet – you need your own adviser to help you through the process

Would you like to know more about what’s happening in your neighborhood?  Visit my website The Smart Real Estate Agent for my FREE Market Insider Report with all the info on price, sales, demographics, schools and lots of other helpful info.
 


Elizabeth Scott, Realtor®, Broker
Be Savvy...Call the Smart Realtor!

2013 Diamond Award – High Sales Volume
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC      
Phone: 919.306.9699
Email






Friday, January 10, 2014

Fortify Project Means More Lane Closures Coming Up



Here's what you need to know to navigate these roads:
 
Raleigh 1/10/14 – Roadway work on the Fortify project on I-440 in southwest Raleigh will gear up over the next several days, after being delayed by the bitter cold weather of the past few days.

I-440 West
Tonight around 11 p.m., crews are expected to continue placing concrete barriers on I-440 West where lane closures are already in place, going from the I-40/440 split toward the Poole Road exit. That leaves extending the lane closures the final mile of the project on the westbound side to the U.S. 64/264 exit, which is planned for Sunday and Monday nights. As soon as that traffic shift is in place, that section of highway will also have concrete barriers put in place, which could be finalized as early as Thursday night.

 I-440 East
Traffic shifts and lane closures for the eastbound side are scheduled to start the middle of next week, weather permitting, and take about five days. As soon as the lane striping is done and orange traffic control barrels are in place, those barrels will be switched out for concrete barriers. That process is expected to take about six days, and be wrapped up by the last week of January.

 Once concrete barriers are in place on both sides of the interstate, that will be the traffic pattern in the work zone until late spring. Crews will spend that time removing the asphalt and substructure for the two inside lanes and the median in both directions, and then rebuild the highway.

 Motorists are urged to use extra caution when approaching and driving in the work zone to protect themselves, their passengers, other motorists and construction crews. Drivers need to observe the reduced speed limit, and pay attention to traffic and construction warning signs. A conviction for speeding in a work zone could cost a motorist an additional $250 above the original speeding fine and court costs.

 PROJECT BACKGROUND
The Fortify Project is the removal and replacement of an 11.5-mile stretch of I-40 and I-440. The initial phase focuses on replacing the section of I-440 between the I-40/440/U.S. 64 split and just north of the U.S. 64/264 Knightdale Bypass. Work will then switch to rebuilding I-40 between the split and the I-40/U.S. 1/64 interchange near Cary. That is expected to start in late 2014 or early 2015, with the entire project expected to wrap up Fall 2016.

Drivers going from I-40 West onto I-440 West merge from two lanes at the start of the ramp to a single lane on the right side of the ramp, and then merge again into the two travel lanes coming from the I-40 East ramp onto I-440 West.
Because of the expected traffic impact of the project, NCDOT has a Fortify Website that provides comprehensive information, including alternate transit options, project maps and links to live traffic cameras. Employers can also access online resources to help them develop and implement a flexible work program. The site includes links toTwitter, Facebook and other social media to stay engaged with NCDOT and other commuters.

This information is provided by the NCDOT

Thinking of relocation, selling or buying a home?  Get in touch!  I'll give you all the info you need.




Elizabeth Scott, Realtor®, Broker
BE SAVVY...CALL THE SMART REALTOR
2013 Diamond Award – High Sales Volume
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC              
Phone: 919.306.9699