News Right Out Of The Daily News Record |
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The headline stares at me right out of today's September 9th Daily News Record: FIXED MORTGAGE RATES LOWEST IN SIX DECADES According to this article, the average rate for 30-year fixed mortgages fell to 4.12 percent and the average rate on a 15-year fixed mortgage fell to 3.33 percent. Really, did that say 3.33 percent? | |
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The First 60 Seconds |
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Ok, I am back on the topic of preparing your house for sale and I will look at the topic "The First 60 Seconds". What do I mean by that term? Simply, it is my belief from what I have seen in showing hundreds of houses to clients that the client decides whether or not they want to purchase the home within the first 60 seconds. How can that be? How could a buyer possibly know all the many wonderful qualities your home offers in such a short time? Well, it is really more about that all important first impression. In the first 60 seconds, they have gotten out of their car and are taking in the exterior curb appeal as they walk through the front door. Once inside, they will determine what kind of condition the house is in. The buyer can determine: 1. Is the home updated? 2. Does the home have odd or unpleasant smells? 3. Is the flow of the home inviting? 4. Are their allergens in the home which bother them (i.e. cats)? 5. Are the paint colors updated and in good condition? 6. And most importantly, they have seen the kitchen in the first 60 seconds, and is it a kitchen that is not a fugitive from the 1970's, 80's or even 90's? It amazes me. Within 60 seconds, the average buyer knows if the house will work for them. You can see it in their reaction, houses that give a good first 60 second impression will get a careful going over by the prospects. If it doesn't, they will either race through the house to just see the highlights or I have certainly had a client turn to me and say "I've seen everything I need to see". I have even had that comment made before we walk in the house. So if you are thinking of selling your home, try this. The next time you drive up, see what impression your home makes in the first 60 seconds. And if you can't say "Wow!", then neither will a buyer. | |
What Should Your Top Priority Be? |
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We have talked recently in our blog about how important it is to have your home ready as a seller if you are seriously trying to get your home sold. It is much more than cleaning your house and putting a sign in the yard. Today's buyer not only has much more to pick from (Harrisonburg Rockingham now has over 1000 properties listed for sale-a record!) but is more demanding in the condition of the property and overall expectations. Today I wanted to talk about picking your battles, what should your priorities be in getting your home ready to sell. If I were to pick the top priority, the first would have to be curb appeal. Curb appeal is the favorable impression that your property leaves with a buyer at the first point of contact. That might be when buyers are driving through your neighborhood looking for homes that might be for sale. It might be from the pictures that they see on a real estate website once your home is listed. It might be from the first visit with their agent when they have picked your home as one of the properties they are interested in looking at. So what does curb appeal include? It includes how well the yard and landscaping are maintained. A well maintained yard is where the grass is consistently cut, weeds are kept out of landscaping borders, shrubbery is trimmed or removed if overgrown, and the driveway is in a good state of repair. A poorly maintained yard is an indication that the new owner would also not be able to keep up with the yard if you can't either. Overgrown shrubbery indicates that the house is older looking than they hoped. A poorly maintained driveway is an additional expense that the buyer would rather not incur. Curb appeal is also how the house presents itself from a first impression. Bad paint condition or outdated colors of front doors, shutters or siding immediately put a sour taste in a buyer's mouth. I believe a house can look outdated in as little as ten years time as new colors and new materials come on the market. Windows in poor condition, mildew on roof shingles, broken vinyl, decks that need restained or walkways that are mildewed all point to overdue maintenance that a buyer wants to avoid having land in their lap. These items are things that you should be taking care of annually as an owner, and the thought that "I will leave that for the next owner" are for lack of a better word-silly. That buyer does not want your overdue maintenance. If you are a serious seller, you must give your home curb appeal. This business is no different than any other retail business, where the merchants are trying to find a way to make the merchandise look great. You must do the same. We offer our seller clients a free Home Staging Analysis that gives them a room by room item by item analysis of what they need to do to get their home sold. Let us know if you would like to experience the difference we offer. Next week, "The First 60 seconds". | |
HGTV-It Matters To You! |
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Hopefully you have heard of HGTV, and the associated shows on it many of which involve getting your home ready to sell, and what to do when the house is not selling. I have had more and more buying clients who are aware of these programs and the design and staging tips that they espouse. These buyers actually look at homes from the perspective of whether homes they are looking at have been decluttered and staged. Why is this important to you as a seller? Because some other sellers are taking seriously the task of selling their homes and are willing to do what it takes to get their house sold. And that affects how competitive your home is on the market. And isn't it interesting that we do call it a "market"? If you have been to the local "farmer's market", you know that the vendors who have the best and freshest produce sell it quickly for the highest price. What is leftover gets reduced by the end of the market day, or it just doesn't sell. So think of that when you don't think you need to do anything special to sell your house. The market dictates what sells, and what sells is the best looking and best priced house on the market. We will look at staging and decluttering next time starting from the outside of your house. How is it possible to stage the outside of your house? Check back soon to find out. | |
YES! ... There ARE Buyers In Our Market |
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Lately, the news can be filled with doom and gloom about the real estate market. Of course, we know that there is not one "real estate market", but many many markets spread all across the country. Some of those markets were overbuilt during the 2003-2005 boom years while others, like our own, are much more in balance. We watch our local market very carefully on a daily basis. We monitor the number of showings scheduled for a week in our office, how phone and walk in traffic is doing, how many and what types of homes go under contract etc. We use that information to advise our buyers and sellers. We have seen something very interesting happening. Homes that are in good condition and priced to sell will sell! We have listed three homes since the beginning of this year where the owners were transferring to other states. Each of the homes was in good to excellent condition. Their price points were $200,000, $300,000 and $339,000. Each of these homes got immediate multiple showings and within two weeks, each was under contract. You won't find these stories in the newspaper, good news never seems to sell newspapers! Buyers soon become experts on home values in their price ranges. They often see many homes before making a decision and know exactly whether a home is priced well or overpriced. They compare condition of homes and because of the number of homes on the market, they pick and choose the homes in better than average condition. But the bottom line is, there are buyers out there and they are buying homes in good condition and priced to sell. | |
2008 Annual Market Report |
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CLICK HERE FOR THE ... 2008 ANNUAL MARKET REPORT Here they are .. the statistics you have all been waiting for from data pulled straight from the MLS System for 2007 and before. Harrisonburg, Rockingham County, Augusta County, Shenandoah County, Page County, Massanutten Reort | |
Rockingham Real Estate Team
Coldwell Banker
Funkhouser Realtors
540-421-7447
rockteam@cbfunkhouser.com
Licensed in the
Commonwealth of Virginia
