I should know better than to allow The Murph to use my laptop. He found this video on YouTube and insisted that I add it as a blog post. I suppose now he’ll want to take dancing lessons! Of course, he could probably be really good doing the Limbo.
Is your home on the market for sale? Have you noticed this early sign that fall is around the corner?
Yes, the spiders are busy building their webs. Often they build them in the covered area around the front door. If your home is for sale, you need to pay special attention to keep the webs removed. Buyers tend to stand longer at the front door as the agent removes the key from the lockbox. So, you want to make a good first impression and have the area look as nice as the interior will look.
We’ll talk about fallen leaves in another month. Why did the summer go by so fast!
By now, you’ve probably heard the various news media (national & local) reporting on the July housing data as compared to last July. The number of homes sold in July 2010 is down versus what was sold in July 2009. Is anyone really surprised by this? We knew it would happen, because the Tax Credit incentives merely moved sales to the first half of the year as those homes had to close by June 30.
I’ve never been one to just accept the info that is published because I know that there are so many caveats to the data. So I decided to relook the sales in MY service area: the Olentangy and Dublin school districts.
JAN-JUN Sales Comparison 2010 vs 2009
Olentangy: 478 homes sold with an average price of $328,996 in 2010. 397 homes sold in 2009 with an average price of $318,040. So for the first half of the year, the number of homes sold was up 20% and the average price was up 3%.
Dublin: 369 homes sold with an average price of $313,201 in 2010. 290 homes sold in 2009 with an average price of $313,516. So for the first half of the year, the number of homes sold was up 27% and the average price was flat.
JULY Sales Comparison 2010 vs 2009
Olentangy: 83 homes sold with an average price of $340,319 in 2010. 108 homes sold in 2009 with an average price of $313,211. The number of homes sold is down 23% but the average price is up 9%.
Dublin: 61 homes sold with an average price of $363,381 in 2010. 87 homes sold in 2009 with an average price of $330,215. The number of homes sold is down 30% and the average price is up 10%.
What does AUGUST look like?
Olentangy: As of today, 185 homes have closed or are in-contract. This compares favorably to the 104 homes sold last year in August.
Dublin: As of today, 111 homes have closed or are in-contract. This also is favorable to last year when only 56 homes sold.
This shows the danger in putting so much emphasis on just one month’s worth of sales. My fear is that with all the publicity July’s numbers are receiving, that it will influence current buyers to decide to not buy. This would be a mistake because they have much to gain with the extremely low interest rates.
Of course, there may be markets nationwide that aren’t as positive as the news we have here, but at least for now, we’re doing OK.
Can a real estate agent decline your business when you are buying or selling a home? The short answer is ‘yes‘. That’s because real estate agents are self-employed and can operate their business as they choose … as long as it’s done legally.
Why might an agent not take my business?
The primary issue is often HONESTY or TRUTHFULNESS. If the agent suspects you’re not being truthful in the information you’re providing, they may be cautious about working with you.
RESPECT and TRUST might also be a reason. Few people want to work so closely with someone who doesn’t respect them or might treat them rudely, but that’s true for many industries, not just in real estate.
UNREALISTIC EXPECTATIONS can lead to frustrations down the road. Sellers who want to overprice their homes regardless of what the comps indicate may have a hard time finding an agent to list their home. Likewise, buyers who are determined to to buy a home for 80% of its list price regardless of the competitiveness of the list price, may find themselves without an agent to drive them around neighborhoods writing countless offers.
FAILURE TO ACT to prepare to sell or buy, such as cleaning the home properly, making suggested repairs or meeting with a lender to get pre-approved prior to viewing homes.
OUTSIDE THE AGENT’S AREA of expertise or geographical area may cause an agent to decline. Currently, numerous agents are not working with short-sales or REO’s. Some agents may not want to work with farmland because they feel they lack the expertise required. Still other agents may have a policy to not work beyond a certain number of miles from their home base or office.
Some agents don’t work with THIRD PARTY RELOCATION sellers or buyers. These are clients taking new jobs in other areas and the new employer has hired a 3rd Party Relo company to handle the move. The agent must pay 38% or more of their commission to the Relo company. With other financial requirements from the Relo company, an agent may make only 45% of their normal income. If the time involved with the Relo client cuts into the service level the agent is able give a regular client, the agent may refuse the Relo business.
Just like any other company or business, real estate agents have a business plan with target markets, sales & income objectives, and the need to control overhead costs. Remember, while you are interviewing the agent to see who YOU want to work with, the agent is subtlety interviewing you to see if your goals/intentions fit their biz plan. Sometimes it’s a good fit and sometimes it’s not. To reference Kenny Rogers’ song, gotta know when to hold ‘em & when to fold ‘em.
You may have heard your grandparents say, “Don’t look a gift horse in the mouth“. This means if someone gives you something, don’t question it, just take it. I think it comes from the days when farmers used to check a horse’s teeth prior to buying.
Last night I saw something on Twitter that really tickled my funny bone, especially given the current economy. Hope you get a chuckle as well.
That was a question someone Googled prior to visiting this blog. The answer may be, “if you’re asking, then the answer is probably ‘yes’“. However, do check out some things first before you make the pricing decision:
Look at the photos your agent has posted on the Internet. Do the photos flatter your home or are they dark, blurred, crooked, or generally poor quality? Was your home staged to remove clutter – especially in the kitchen; were bedspreads smoothed; toys picked up or removed; were all the lights turned on for photo taking; are there cars or trash cans in the photos. If your photos don’t make the home look its best, request that your agent take new photos.
Is your home advertised on lots of Internet sites with maximum photos on each? Your home should be on the agent’s broker’s site, on Realtor.com with 20-some photos, on Trulia & Zillow, and many other sites.
Ask your agent to show you a copy of the MLS sheet. Make sure all the data in it is correct. Sometimes the person entering the data makes a mistake on one of the key searchable details such as area, subdivision, school districts, or even price.
If your photos are good and you’re on lots of Internet sites, are you getting showings? If showings are occurring, then what has been the feedback as to why the buyers didn’t choose your home? Can the buyer’s complaint be fixed – like new carpet – or is it unfixable – like floor plan or location? If it can be fixed then do that. If it can’t be fixed, then the price needs to be lowered.
If your photos are good and you’re on lots of Internet sites, and you AREN’T getting showings, then chances are good that buyers think your home is overpriced for what it offers OR there just aren’t many buyers for your price range or your area. Higher priced homes often experience this as there are fewer buyers in the upper ranges. However, you want to make sure that your price is competitive so that your home becomes the most appealing of all the other homes the few buyers will be viewing. You may only have one chance to appeal to that one buyer. Give it your best shot.
Too often sellers try to price a home based on the net amount they want to have to buy their next home. To be very frank, the buyers don’t care about what the seller wants for their proceeds. The buyer will pay what they think the home is worth in the current market as it compares to other similar homes. That fact can be a tough pill for some sellers to swallow. The second truism is that “price solves all problems”.At the right price, all homes will sell.
Helping home sellers & buyers with their real estate in Delaware & Franklin counties, including the suburbs of Powell, Dublin, Lewis Center, Galena, Worthington, Hilliard & Delaware.
MY FEATURED LISTINGS
Click photos for more detailsExecutive-style home near Hoover Reservoir on 3 acres. Enchanting contemporary home nestled in trees & overlooking a ravine.SOLD for $542,000!Luxurious patio home in Wedgewood golf community. This custom-built, high quality ranch has a wonderful floor plan designed for convenience and entertaining. 2736 SF of available living space. PRICE JUST REDUCED TO $399,000!Charming, custom built home on 5 ac with woods. Convenient to Powell, Dublin & O'Shaunessy marina.SOLD for $300,000 in 1 day for 100% of list price!
Emerald Ash Borer articles
Click image to read all the articles about my personal saga with the Emerald Ash Borer damage to my tree.
By now, you’ve probably heard the various news media (national & local) reporting on the July housing data as compared to last July. The number of homes sold in July 2010 is down versus what was sold in July 2009. Is anyone really surprised by this? We knew it would happen, because the Tax Credit incentives merely moved sales to the first half of the year as those homes had to close by June 30.
Executive-style home near Hoover Reservoir on 3 acres. Enchanting contemporary home nestled in trees & overlooking a ravine.SOLD for $542,000!
Luxurious patio home in Wedgewood golf community. This custom-built, high quality ranch has a wonderful floor plan designed for convenience and entertaining. 2736 SF of available living space. PRICE JUST REDUCED TO $399,000!
Charming, custom built home on 5 ac with woods. Convenient to Powell, Dublin & O'Shaunessy marina.SOLD for $300,000 in 1 day for 100% of list price!
Click image to read all the articles about my personal saga with the Emerald Ash Borer damage to my tree.
Humor for your weekend
“My gift horse is facing the wrong direction.”
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Posted in Commentary, Humor