Category Archives: Sellers

Paint your home now & get a discount

The firm that painted the interior of my home in December (see those posts) has advised me that they are offering a Spring Special for my readers only. Schedule your paint work before March and receive a 15% discount. The discount they previously offered my readers was 10%.

The company is Dynamic Painting in Lewis Center. Call them at 614-554-5630. They do both interior and exterior; residential and commercial. They are bonded and insured; rated by Angie’s List and the BBB. Follow them on Twitter @dynamicpainting. Their website is DynamicPainting.net.

Note: I did not nor do not receive any monetary compensation for this recommendation. The company simply did a good job for me and therefore, I’m suggesting them to others.

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.

Real Living HER has a new web site

Real Living HER switched over to their NEW extensive website today. They have always beat out the competition with a high-traffic, very user-friendly site used by millions. This new design is even better, providing even more information on each listing. Remember, all broker’s listings are included – not just Real Living’s – through agreements called Broker Reciprocity.

REAL LIVING HOME PAGE

You can set up your own personal search based on the criteria you want in a home, then save it. When new listings (or a price reduction) come on the market that match your criteria, you’ll be notified via email immediately.

When viewing a home that is for sale, you will be able to view an extensive amount of info for the neighborhood or city where the home is located. Look for the tabs located below the photo box. You’ll also be able to see many photos of the home if the listing agent has added them. To see an example of a listing click on the following link.

POWELL OH HOME FOR SALE

Each Real Living agent has been provided a section on the main website. Click the link below to visit my section. When on my site, you can set up your home search, designate me as your agent, or email me. If you click on the Local Information tab, you can enter an address, such as your own, then view the same type of demographics as is available with each of the homes for sale. That’s a rather fun exercise for your own home. See what the stats are for schools, crime, environment, income/education, and walking score. If you’re thinking of moving to another city, you can check the stats for that city as well.

ELAINE REESE SECTION OF REAL LIVING WEB SITE

A lot of work went into this new web design, however, since it’s brand new, there may be some start-up glitches for a few days. The development gurus have also told us that they’ll be adding even more features or pages of information in the coming months. Of the things that I’ve checked, it seems to be working OK so far. So, go ahead, give it a test drive.

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.