Category Archives: Home selling process

To Faux or Not To Faux … that is the question

There is something that real estate agents see all too often … and it’s not pretty!

I suspect it starts with the cable network’s home fix-up shows. Now that wallpaper is no longer in favor – because people learned how hard it was to remove – people are turning to other ways to add “interest” to their walls. Thus, the FAUX PAINTING concept was born.

We often see examples of homeowners who have taken an hour-long course at their local home improvement store to learn how to do faux painting. I think they must decide to “practice” on a kid’s room and choose Cookie Monster blue as their Wild eyeschoice of colors. I’ve seen the Cookie Monster blue way too often in the kid’s room or their bath.

MOM: YOUR KID CAN “GO BLIND” WITH THAT!

While I’ve not tried faux painting, judging by what I see when showing homes, it must be difficult to paint in the corners and against the ceiling. Those areas are where there is usually too much paint compared to the rest of the wall.

When the painters were doing my home, out of curiosity, I asked them if they did faux painting. They don’t. If a homeowner wants it, they call in a faux professional. That should be a clue to DIY’ers that if the professional painters call a faux painting expert, it must not be that easy.

Faux painting can be quite attractive – when done properly. When selling your home, it’s not a deterrent to buyers as wallpaper is, but it must be done very well or it can be a turn-off. So practice, practice, practice until you are skilled to do an entire wall and especially the corners. That way your Realtor® won’t make you paint over it when you decide to sell your home. GOOD LUCK!

Copyright © 2011. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

January Tips for Spring Home Sellers

It’s the end of January. People have been stuck in their homes for 2 months now with this winter. But just as gardeners are scanning through the seed catalogs dreaming of warmer weather, homeowners are thinking of getting their homes ready to put on the market when spring comes. (I’m sure it will arrive … eventually.)

I’ve had several calls from sellers this month to discuss what they need to do now while they’re stuck inside. Might as well start working on the to-do list when there isn’t much else to do except shovel snow and shiver.

Best time to put the home on the market?

I recommend having it ready to put the for-sale sign in the yard at least by the first week of March. Lest you think that sounds far away, it’s only 5-weeks from now. That’s not much time if you have much work to do.

Concerned about a buyer’s home inspection?

If you’ve not kept up with home maintenance or if you’ve done some work without getting proper building permits, you might choose to hire a home inspector to allow you to fix things in advance so they don’t become deal-killers later when you have an offer. If you didn’t get building permits that were required, you’ll have to disclose that on the Residential Property Disclosure Form that must be given to the buyer. Call me for names of some reputable home inspectors.

Is your carpet & paint in tip-top shape?

I just did this fix-up in December, so I can make recommendations if you don’t want to paint yourself. Carpet installation should NOT be a DIY project. While it’s not inexpensive to do these repairs, you’ll get the money back in price or time on the market. Call me for names of companies that will give discounts.

Do you need to de-clutter?

You know it’s got to be done, don’t you? Yes, I know it’s not fun, but … it will need to be packed for your move anyway, so start early. If you haven’t used it for 6-months, make it go away. You can consider giving it to charity or sell it to consignment shops or simply trash it. I called 1-800-GOT-JUNK to get rid of some old, old furniture that I no longer wanted. I can get you a discount.

Not sure what you need to do?

Give me a call and we can schedule an appointment to discuss further. That’s one of the services I do for my clients. 

Copyright © 2011. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

10-Year Review of Average Home Prices for Central Ohio

It’s a new year and that means it’s time to take a look at how home sales – specifically average prices – did in 2010. Did they continue to slide down or have they turned the corner?

As usual, I calculate average prices by school district because that provides a more accurate review than if zip codes or cities were to be used. Zips and city boundaries sometimes cross school and county boundaries, thus, making them inaccurate.

The chart below shows average prices for Jan-Dec for single-family homes only. No condos included. You’ll notice that most districts improved their average home price for 2010. 2004-2005 still seems to be the benchmark years where people who purchased their home on or after those years may need to sell their home for less than they paid.

2001-2010 Avg Prices homes sold for Jan-Dec in central Ohio

Click to enlarge chart, then click again

If you have any questions on your specific home, give me a call at 614-825-8860 or email me by clicking on the icon in the right column.

Copyright © 2011. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

How fixing up my home lets me help you

The painting is donethe floors are done … and judging by my aches & pains, I’m about done or done-for. I’m really tired of moving furniture around. There’s a reason I’ve never purchased big, heavy pieces.

In addition to the benefits to my home, I thought this project would also give me valuable info when I suggest to home sellers that they fix up prior to selling.  So what did I learn and what does that mean for you if you’re planning to sell?

TIMING

Since it is December, I was perhaps able to schedule the workers more quickly than could be done during spring-summer-fall. Both the painters and the flooring people took 3 days each, however, that covered two weeks.

I went with a painting firm that had 3 workers and could do it in 3 days, versus the one guy who estimated it would take him 10 days! The flooring workers were different for each type of flooring and also took 3 consecutive days. They started the week after the painters were finished.

MESS

I started cleaning first before the painters arrived. That was wasted time since everything gets dusty from the sanding in between coats of paint, and the usual dust from new carpet and sawing of the wood flooring.

For the painters, all furniture needs to be moved to the center of the room. For the floor people, the furniture needs to be completely removed. This can be a problem, especially if you have large wood pieces. Depending on your room arrangements and the number of big pieces, you might want to consider using one of the onsite storage companies such as PODS or GOTBINS.

COST

Hiring the painting is not inexpensive, and while you may be able to do it yourself, you have to consider the quality of the work you do and the time it will take you. The guys I hired caulked, sanded between coats, and applied 2 coats for a much better appearance. The quality of paint you use impacts cost as well. The three different painters that I interviewed, use Sherwin Williams paint, and they get a special price from SW.

Flooring is as expensive as the material you select.

While the price may seem high (thousands), it is less than what you’ll have to discount your selling price if you don’t do it and your home sits on the market because buyers don’t want to pay top price for a home in need of repair.

DISCOUNTS

If you use a good Realtor®, especially one with Real Living, we have lists of companies that offer discounts for our clients. Discounts are available for movers, PODS, powerwashers, 1-800-GOTJUNK and flooring.

I used America’s Floor Source which offers a 30% discount on products & services for Realtors® and their clients. Dynamic Painting was the firm I used for the painting and they will give a 10% discount if you mention you read about them on “Elaine’s Blog“.

GET STARTED

If you’re thinking of putting your home on the market “next spring”, a good time to start getting it ready is right after the new year. You can schedule the work to be done during January/early February. It’s also a good idea to hire a home inspector to allow you time to fix those ‘deal-breakers’ in advance. (Call me for names of good inspectors.)

I’ve noticed Internet home searches to start increasing late February as buyers begin exploring and gaining knowledge of what type of homes are available and at what price. These buyers will contact an agent and begin viewing homes during March. So you’ll want to plan to have your home ready to be listed by the end of February or first week of March. That’s just 9 weeks away!!!!

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

Home buyers & sellers reveal their secrets

Realtor and buyers The National Association of Realtors has just released its 2010 Profile of Home Buyers and Sellers. As with past surveys, the data isn’t too surprising. Certain trends continue to reflect the changing real estate market.

The survey results are quite lengthy, but the highlights you might find interesting are:

  • 1st-time home buyers made up 50% of all home sales. That’s up from 47% in 2009.
  • Median age of 1st-time buyers was 30 with a median income of $59,900. They purchased a 1540 sq ft home costing $152,000. 93% of them took advantage of the Gov’t Tax Credit.
  • 58% of buyers are married couples; 20% are single women; 12% are single men; 8% are unmarried couples; and 1% are “other”.
  • The typical repeat buyer was 49 years old, earned $87,000, purchased a 2000 sq ft home costing $215,000.
  • The median age of home sellers was 49 and they moved a median distance of 18 miles. 50% moved up in size, 28% stayed with the same size, and 21% downsized.
  • The typical home sold for 96% of the list price compared to 95% in 2009.
  • How buyers FIRST learned of the home they purchased: 38% Internet, 37% from their agent, 11% yard sign or open house, 6% from a friend-relative, 4% home builders, 2% newspaper ad, 2% direct from seller, and less than 1% from home magazine.
  • Owners trying to sell their home themselves reached a new low, accounting for only 9% of the sales.

The two trends that most real estate agents are well aware of is the use of the Internet to search for homes increasing considerably, while use of print & magazines is almost non-existent. The number of single women buyers has been increasing over the years. Not sure why there is such a difference between female buyers vs male buyers. I have my thoughts, but I’ll keep them to myself. :-)

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

Should you buy or sell a home now?

2001-2010 Avg Prices homes sold for Jan-Oct in central Ohio
Click to enlarge, then click again to enlarge more

Last year buyers were hesitant to buy a home – even though interest rates were low – because they wanted to wait till “prices hit the bottom“. Real estate agents tried to explain that the only way a buyer could know when the market was at the bottom was when prices started to increase.

WELL FOLKS!
Have a look at this chart. It shows a 10-year pricing history for school districts in Delaware County with a couple in Franklin County. While prices haven’t increased to earlier years yet, most are seeing increases. Even so, with interest rates now about 1-percentage point below last year, the savings in interest would likely make up for the price increases. SO IT’S STILL A GOOD TIME TO BUY!

Sellers, the market may or may not be favorable for you, depending on when you purchased or the amount of equity you have in the home. If you’re in doubt about the price your home might sell for, contact your favorite Realtor® to discuss. Don’t have a favorite? Give me a call.

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.