Fayetteville, NC Real Estate Blog

I just learned about something I had not heard of until I stumbled across it by accident, Virtual Staging. 

Ok, so I admit, I don't read my Realtor magazines as often as I should and I see that they have done an article about Virtual Staging: http://www.realtor.org/rmotechnology/articles/2009/0910_technology_virtualstaging

I also see that they put in a caveat about "keeping it ethical" and that, honestly was one of my first thoughts when I learned about this business.  The thought, "is this misrepresentation to a potential buyer?", ran through my head and well, I kind of have mixed feelings about this service.

It seems that the Virtual Stagers can digitally "drop" furniture and appliances in pictures to make the home appear to be lived in OR as Realtor Magazine states, "The idea of virtual staging is not to deceive prospects but rather to help them envision what the house could look like and how each space could be used."

From Realtor magazine:

"We caution agents that they should be transparent about the images and explain that they are computer generated," says virtual stager Krisztina Bell. In other words, where virtually staged photos appear, include a comment or comments in a readily and reasonably apparent manner that the property has been virtually staged and is actually vacant (or furnished differently), advises REALTOR® magazine’s ethics columnist Bruce Aydt. Otherwise, you risk violating Article 12 of the REALTOR® Code of Ethics, which requires that your marketing paint a "true picture."

Well, I do understand that sometimes what you see is not always what you get when you actually visit a home to show.  The sellers could have REALLY had the home decorated as the pictures suggest and have moved out now and you arrive to see bare walls instead of what the original pictures show, especially if the home has been on the market for some time.

Do I agree with this service?  Well, the jury is still out on that one, curious as to what your feelings are about "placing furniture" in a picture.

Do you agree with using Virtual Staging for your listings?

Are you taking the long range effects into consideration when you are assisting your home buyer clients?

There is MUCH more to being a real estate broker than just selling homes.  You are representing people in one of the largest decisions they will ever make in their lifetimes.  

Careful consideration must be given to all factors of your buyers needs when searching for that new home.  Listen to what your buyers desires are and also present to them some reality based on your experience.  You NEVER want to see a sign like this in one of the yards of a home that you sold.

This sign IS in an area that I serve.  This IS NOT a home I sold, but I simply had to take a picture when I saw it.  Sorry it is a little crooked, was driving as I snapped the shot, didn't figure this homeowner really wanted a Realtor in the front of the home.

10 Tips To Sell Your Home In A Down Market

To make sure your home sells in a down market, there are a few things that you can do.

1. You have to be willing to price it right: If you’re going to sell your home in a down market, you may have to be willing to make some concessions on price. In many areas foreclosures have depressed the prices quite a bit. While you may not be able to cut your price to the level of some of those bank owned homes, you can still do your research as to what comparable homes are selling for, and undercut their prices. You may not get as much action as the foreclosures, but you will at least get more action than other sellers who aren’t as flexible on price. Try not to get emotionally stuck on a certain price.

2. Make sure the home has curb appeal: Even if you can’t compete on price with foreclosures, you can do your best to make sure that the your house at least looks better on the outside than the foreclosure down the block. Get the home power washed, paint the trim and the doors, put on new exterior lights and/or knockers, and give your plants some sprucing up. All the hard work should pay off by at least getting that buyer through the door. (When we sold, this was key for us because there were similar units at the same or lower price. Our unit was just in better shape, had been repainted, etc.)

3. Clear the home of clutter: When you’re living in the home, it may be ok to have stacks of papers on the coffee table, and tons of personal photos on the walls. But when you’re selling a home you want the potential buyers to picture themselves living in the house. Remove personal photos from the walls, and replace them with neutral framed art. Take everything off the countertops in the kitchen to make it seem like there is more counter space. Remove any unnecessary furniture and put it into storage. If you can remove clothing from the closets and put it into storage to make the closets feel bigger. Reduce all the extra clutter throughout the house to make it feel bigger, more spacious and buyer friendly!

4. Fix big problems: If your house has a big problem that will turn a lot of buyers off, fix it! Shag carpeting in the living room? Consider changing it out with fresh new carpeting. Non-working water softener? Pay to have it fixed, or get a new one. ( We actually did this). Big hole in the wall? Get some drywall and patch it up. Ugly peeling linoleum in the kitchen? Put in new flooring. Anything that can cause instant dislike for your house should be fixed, as long as it isn’t too expensive.

5. Fix smaller problem areas around the house: Go throughout the house and take notes of all the small things that need fixing that may be a turnoff to a potential buyer. Take the time to go around and fix those things one by one. If you noticed them, the buyer will too! When we sold our house we ended up repainting some trim on the outside of the house, repainting several rooms that had scratches and marks on the wall, and removed some rubber marks on the kitchen linoleum. It only took us one or two days of hard work, but in the end the house looked much better, and was more inviting to a buyer.

6. Consider staging the house: When we sold we actually staged the house to make the rooms feel more spacious, give it a less cluttered look and a make people feel more at home. In the living room we removed several larger pieces of furniture, and replaced them with smaller more luxurious pieces from our parent’s houses – in a different layout. We took our personal photos down and put up framed art pieces. We removed

all the magnets and photos from the fridge, and put up nice valances on the windows. Watch a lot of HGTV and try to emulate what the experts do to stage a house!

7. Offer bonuses to agents or buyers: consider offering a bonus to the first agent to bring in a full price offer, or offer to pay closing costs for a buyer (this might be especially attractive for first time buyers). I’ve even heard of buyers offering to pay a years worth of homeowner’s association fees. Be creative.

8. Use the power of the web and your personal networks to market your house: Make certain that the Realtor® that you choose has a working knowledge of the Internet and advertising opportunities that it presents.

9. Get a good agent to help you sell: Get a good agent to help sell your house, not a friend of a friend – or your aunt Agnes who just got her real estate license. Your house is one of your biggest assets, and this is no time to do someone else a favor. Call a local real estate office and ask for their top salesperson. Interview a few agents and ask them to tell you what their marketing plan is for your home. Use someone who understands the power of the internet, the importance of good wide angle interior photos, and an overall marketing strategy for your house.

10. When the house is showing, keep the house clean and don’t be there!: When you are having an open house, or the house is having a showing, make sure that you aren’t there. There’s nothing more annoying than having the home’s owners in a house when you’re trying to look at it. Also, make sure to keep the house spic and span to make sure that it shows well. Finally consider baking cookies before a showing, or lighting one of those cinnamon roll candles. It will give the house a pleasant aroma, and people will feel at home.

Selling your house in a down market isn’t an easy task, but you can still do some hard work along the way and make your chances that much better. In the end your house will show better, and you’ll be able to sell your house that much quicker.

Coming up with a down payment and finding a loan that meets your needs are the greatest hurdles faced by first-time homebuyers.  So, you may even have leafed through stacks of brochures and flyers from lenders offering down payments that are far less than the 20 percent you’d always thought you’d need to save before you could buy.  With so many excellent first-time buyer programs to choose from these days, you practically need to be an expert to sort through them all.

That’s why if you’re a first-time homebuyer seeking a low down payment loan, you’ll save time by selecting a professional real estate agent who is experienced in working with people just like you in the area where you plan to buy.  An agent who frequently assists first-time buyers will know from experience which lenders in your area offer a low down payment program that will most closely match your needs.

A professional real estate agent can help you determine whether you are likely to qualify for these special programs, since participation in some may be limited to buyers under a certain income level or for the purchase of homes below a certain purchase price.  Your agent also will be able to tell you whether there are other requirements you must fulfill in order to be considered.  With some programs, for example, you must attend an educational seminar before you can be considered for one of these low down payment loans.

`It’s important that your agent become familiar with your current financial situation.  Before you meet with your agent to discuss your financial situation and housing needs, you’ll want to collect some basic information to make the process easier.  Be prepared to show recent paycheck stubs or pay vouchers to certify sources of income; a complete list of current credit card, auto and other consumer credit payments you make each month; and recent bank and savings statements.  These documents will help you and your agent determine how much home you can afford.  It’s also important that you disclose any prior credit problems or late payments.  Your agent may be able to suggest ways to remedy any negative remarks on your credit report that could disqualify you from a low down payment loan program.

In addition, because most lenders w2ill require that you have several months of house payments in the bank as a reserve, your agent may be able to suggest ways you can increase your savings in the weeks and months leading up to your home purchase.  Don’t forget that some programs allow you to apply a cash gift from a family member to cover the required down payment and losing costs.

Your agent also may know a motivated seller who would be happy to assist you in accomplishing your home purchase by caring a second mortgage.  A second mortgage is helpful because it reduces the amount of the first mortgage you need to obtain.  In some cases, a second monthly payment and generally is required to protect the lender when a down payment is less than the standard 20 percent of the loan amount.  Even if your seller isn’t willing to take a second mortgage to complete the sale, he or she may be willing to pay your closing costs, which will reduce the amount of cash you need to have on hand up-front.

With interest rates edging up, innovative mortgage financing programs that require a low down payment are even more important than ever to first-time buyers.  A professional real estate agent can help you sift through the countless programs that are available and help find the one that’s mortgage can eliminate the need for private mortgage insurance, which is added to your right for you.  To find out what Century 21 can do for you, contact “JT” Prevatte today at (910) 494-5570 or by email at MyNewNCHome@gmail.com.

Things to Consider When Searching for a Home

Before deciding which house to buy, think about your lifestyle, your current and anticipated housing needs, and your budget. It’s a good idea to create a prioritized list of features you want in your next home – you'll soon discover finding the right house involves striking a balance between your "must-haves" and your "nice-to-haves." To start, consider your lifestyle.

If you love to cook, you'll want a well-equipped kitchen. If you're into gardening, you'll want a yard. If you're planning your office at home, you may want a room for a separate library or work space. If you have several cars, you may require a larger garage. Use this list as your search guide. Next, think about what you might need in the future. As you consider your housing needs, it's important to consider how long you may live in your home. If you're newly married, you might not be concerned with a school district right now, but you could be in a few years. If you have aging parents, you may want to look at homes that offer living arrangements for them as well as you. It’s important to think about your new home’s location just as carefully as you do about a house’s features. Location is a huge part of any move. In addition to considering the distance to work, you need to evaluate the availability of shopping, police and fire protection, medical facilities, school and day-care, traffic and parking, trash and garbage collection, even recreational facilities. Perhaps the most important decision is deciding on the type of home you want. Do you want a condominium or a co-op? A town house or a detached single-family home? Do you want brick, stone, stucco, wood, vinyl siding, or something else? Do you prefer a new home or an older one?

Through all of this, make sure to talk to your real estate professional about where you want to live. While more buyers now use the Internet to gain access to listings, or available properties for sale, it is still a good idea to use an agent. The agent brings value to the entire process: he or she is available to analyze data, answer questions, share their professional expertise, and handle all the paperwork and legwork that is involved in the real estate transaction.

Ah....the seemingly never ending Internet.  Always something new, always something to learn or share..there's even a page that you can Google for that shows you the "end of the internet".

What a powerful tool the Internet has become.  We are now able to do things in a few miinutes that used to take days.  Students are able to learn about a subject with a few clicks, and few even know what a encyclopedia is....now, it's a Wikipedia!

But.....

Have you ever come to what I call an Internet stalemate?  You know.....everytime you log on it seems that you go to the same pages over and over and within a few minutes, you seem to have seen everything you are interested in.  That...is my opinion of an Internet stalemate. 

Maybe, we get where we are on "Internet Overload".....who knows.  But the condition does exist. 

What is the best cure for this problem?  Get out, meet some new people, pick up a good book....do something...anything...but take a break from the computer.  Work on the social skills, get some sunlight...ANYTHING!

Well, the inevitable has happened.  Our area is going through a time when homeowners are receiveing notices that their property values for real estate are on the rise.  Funny thing is, the notices are coming as "appeal forms" so the tax department is already assuming a lot of people will fight the re-evaluation.  I, for one, will be one of those fighting.

Why the sudden re-evaluation?  In my opinion, it is a way for those who do pay their taxes to "pick up the tab" for those who don't and the high amount of foreclosures in the area.  Unfortunately, the county needs their money and if a home is foreclosed, the money is hard to get...so what better choice than to go after the people who have paid...after all, they must have money right?  They paid!

The rise in property value was inevitable.  We all knew it was coming, it was just a matter of time....but honestly, a rise of 20% to the value of a home?  I can pull MLS records that prove that is inaccurate.

So...."change", a lot of people wanted it...now they are getting it...thanks.

Being a member of certain forums, sometimes there are documents or excel spreadsheets that need to be shared with other members, but the obvious question is how do I do that?

Enter drop.io

Yes, that is the whole internet address.  I was emailed several times about posting a excel spreadsheet that I use for my other hobby of reloading.  I answered the emails several times with the spreadsheet attached and then thought there had to be an easier way.  So off to Google for a search...Google is joust awesome.

Up comes drop.io.  Here is a tutorial on how to use the service: http://drop.io/howto

Took me about 30 seconds to figure out how to use it and upload the document.  Now, I am able to post a link in any forum and any who want the information can go and download it. 

Can you see the possibilities for this in real estate?

Anyway....if you also enjoy the hobby of reloading, here is a link to the sheet and you are more than welcome to download it and enjoy it.  It is completely problem free...no worries for your computer.  http://drop.io/excelreloadingprogram/page