If You’re Thinking of Selling Your Charlotte Home, CALL NOW!

01/26/2018 by Debe Leave a Comment

If You’re Thinking of Selling Your Charlotte Home, CALL NOW!

As the final data on the 2017 Charlotte housing market files in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How did we finish 2017

1. New-home sales were at their highest level in a decade. In fact, in all Charlotte MLS, new construction sales were up 15.4% year-over-year.

2. Sales of previously owned homes were at their highest level in more than a decade. In all Charlotte MLS, resales were up 3.6% year-over-year.

3. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

4. Average Sales prices in Charlotte are up from $196,544 5 years ago to $285,727 at the end of 2017…up a whopping 45% in 5 years!

And Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”

And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last year.

The only challenge in our real estate market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale in Charlotte. Currently, there is less than a two-month supply of inventory. This represents a decrease in supply of 20.0% from this same time last year.

Bottom Line

Basic supply & demand at it’s best is being demonstrated in the Charlotte market. With demand increasing and supply decreasing, this IS the perfect time to get the best price for your home. Let’s get together to see whether that is the case in your neighborhood.

What You Need to Do

If you’re thinking of selling your Charlotte home, let’s talk – call or text (704) 491-3310! Listing and SELLING homes is our specialty. View our 5-star client reviews at www.CharlotteRealEstateAgentReviews.com and our listing website, www.ListMyCharlotteHome.com or email us at DebeM@remax.net.

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

Top 10 Charlotte Home Seller Tips for 2018

01/14/2018 by Debe Leave a Comment

Top 10 Charlotte Home Seller Tips for 2018

If you’re considering selling your Charlotte home then you may want to take inventory and identify what needs to be addressed before placing your home on the market.

First Impressions are Critical

Put yourself in your buyers’ shoes. Enter your home starting at the front door and ‘tour’ your home as though you were a buyer. When a buyer is viewing your home, remember, they are going to be critical of every single aspect of your home. **Remember, this may very well be their new home! Does your home ‘flow’ nicely? Are your colors coordinating? Are all repairs made? Does your home smell clean? Is your home bright and welcoming? What ‘feeling’ do you get when you walk through the front door? Do you feel closed-in or is open, welcoming space the dominant feeling?

Even though Charlotte home inventory is low, pricing and preparation of your home are still keys to a successful sale.

Here are 10 top priority tips for Charlotte home sellers:

The Front Door: Many of us pull into our garages, rarely ever even using our front door other than to greet guests from the inside—never seeing what our guests see as they’re standing at the door waiting for us to greet them. A clean, freshly painted front door with a new welcome mat is the best way to give your buyers a truly positive first impression. Fresh seasonal flowers in a nice pot also make your buyers feel at home before they even enter the front door!
Address any deferred maintenance: A pre-inspection is always a great idea – even newer homeowners can have hidden repairs that will be discovered with the buyers’ inspector. These items tend to elongate the list of repairs that the buyers find and put doubt in their minds as to how well the home has been maintained in general. Glaring items are important to address pre-listing such as caulking, broken seals on windows, dripping faucets, etc. Those little things also give buyers pause, wondering if there are hidden issues since the glaring ones haven’t been addressed. However, once under Contract, the larger items (HVAC, roof, crawl space/structural/fungal growth) are the deal-killers once under Contract.
Neutral colors: This is likely one of the biggest complaints buyers have when touring homes with loud or bright colored paint. The paint may have been your child’s favorite color of purple but, neutralizing that one room can make a huge difference in buyers’ opinion of your home. It’s a ‘cheap’ investment that goes a long way in getting your home SOLD! Don’t think that color doesn’t matter – it may not be a ‘spoken’ thought but, if the colors are neutral, the buyers tend to have a more positive experience while touring your home. **Remember, as all of us are busy these days, so are your buyers; buyers do NOT want to have to paint. So, if you’re thinking that the buyers would prefer to pick their own color(s), you’re going to take a ‘painting allowance’ hit that is higher than it would cost you just to do the work and neutralize NOW. Otherwise, if they don’t like the colors, they may not even consider your home.
De-Personalize: Buyers love looking at photographs and trying to ‘figure out’ your familial status…are you downsizing?…is your family growing and you’ve grown out of the house?…will the same thing happen to them? You don’t want buyers looking at your photos, you want them looking at your HOUSE!
De-Clutter: Cleaning closets and drawers are just as important as cleaning the carpets. Buyers are going to open the cabinets, drawers and closets and you don’t want them to think that you have run out of room in your house (meaning that there isn’t enough storage in your home). Get rid of it by giving it away, selling it or packing what you’re not currently using. What remains that is used, replace it in an orderly, clutter-free fashion. ** Remember, you’re soon going to be packing anyway – why not start now?
Garage: You may choose to use your garage for storage but, your buyers may want to park their cars in there. If the garage is full of furniture and boxes, the buyers can’t see that they will have a good sized garage for parking. De-clutter as above in #5 or rent storage space and clean out that garage!
Floors: Do your hardwoods need to be refinished? Does the carpet need cleaning or replaced? Gone are the days that buyers want a ‘carpet allowance.’ Buyers want move-in ready and floors are an important item that they will be looking at very closely.
Windows: Clean your windows and screens and let the sunshine IN! If you have windows with a broken seal (cloudy in between the two layers of glass), go ahead and have them replaced. This is an item that inspectors WILL find and buyers WILL ask for you to replace them. You have more time now to replace those windows than you’ll have on your hands while you’re packing to move!
Kitchen: Kitchens and baths are the most important parts of the house to many buyers. If your kitchen needs updating, go ahead and do that NOW – again, buyers do NOT want any updating to do when they move in. As our lives are so much busier than ever before, buyers during the last 4-5 years have been bypassing homes that need updates. We see it all the time – the bones are excellent but, they want move-in ready. **Remember to be sure that all cabinets, drawers, the pantry and countertops are all clean and well-organized.
Landscaping: Outdoor living areas are huge this year! Buyers want maintenance-free and want a lovely yard (or garden). Be sure that your flower beds have a few seasonal annuals blooming and fresh mulch to make a clean, finished landscape. Get rid of weeds and trim the hedges. Also, be sure that all of the children’s toys and bicycles are stored away properly and not left on the driveway or lawn.

Bonus tip for selling your Charlotte home when you do get it ready for the market: VACATE your home when potential buyers come to visit. DON’T be the elephant in the room! Your presence will make it difficult or awkward for the buyers to discuss their thoughts and feelings openly with their agent or partner. They will also rush through your home so as not to cause YOU any inconvenience with them being there.

More Charlotte home seller information:

What are home buyers looking for in a home? A move-in ready, well-maintained property. Let us help you prepare your Charlotte home for the market. Thinking of selling your Charlotte home? Give us a call and we’re happy to provide you a market analysis and free consultation. We’d love to assist you in helping you prepare your home for the market and getting your home, not just listed but, SOLD!

Let’s talk preparation! Call or text (704) 491-3310 or email DebeM@remax.net

Top 10 Charlotte Real Estate Articles for 2017

As we do each day, week, month and year – analyzing the way that our information which we provide to the consumer, both near and far – we’ve once again researched the top 10 articles for the year. Our goal is to be certain that if you search for something related to Charlotte real estate in Google, Bing, MSN or any of the other search engines and find us, we are providing you the information that you need in an accurate, clear, concise and thorough manner. In fact, we go to great lengths to do so!

Our staff works diligently to find exactly what YOU, our valued customer, needs with regards to Charlotte real estate–and even basic Charlotte North Carolina information such as things to do, school information, restaurant reviews and openings, the local economy and more. We then work to give you just that–exactly what you’re looking for!

So, to put a wrap on 2017, the best year we’ve had in Charlotte real estate, we’d like to share with you our top 10 posts that were viewed throughout the year. Here’s hoping that your 2018 is happy, healthy and prosperous! Please let us know how we can serve you in the New Year.

Here are the top 10 articles for 2017:

More Top Hits (evergreen articles [written in previous years])

The following articles consistently make our list of top-hit articles for the year. This year, we only included articles written in 2017 in our list above. The timeless posts below continue to rank in our top 20 most-read on our site – each and every year since they were written! They are certainly worth taking a few minutes to read…

Common Home Remodeling Projects: DIY vs. Pro

10/09/2017 by Debe 3 Comments

Common Home Remodeling Projects: DIY vs. Pro

Charlotte homeowners often struggle with listing preparation – what improvements need to be done and which don’t. Some home improvements are highly personalized and can actually harm a Charlotte home seller more than it would if left unchanged. Then there’s the choice of DIY or hiring the professional. Because of the many choices out there and the unsolicited advice you’ll often get from ‘salesmen’ in the business, it’s highly recommended that you seek the advice of a licensed real estate agent before making ANY home improvements, especially if preparing your home for the market. We will likely be able to save you a LOT of money!

Here is a great bit of advice from our guest author, Eugene Williams of DIY Dad. For more information and other great resources about all things DIY, check out his website here.

Many homeowners have that one room in their house that just doesn’t fit their needs. Maybe it’s a kitchen with awkwardly arranged appliances or a bathroom with outdated decor. In 2016, nearly two-thirds of homeowners had expressed plans to renovate, according to an article on CNBC. A Harvard study showed that 40% had budgeted to spend $5,000 or more, and more than 20 percent had a budget with double that amount.

So, if you’re a homeowner planning a remodeling project; you’re not alone.

However, many homeowners find themselves wondering if these projects require a professional or can be taken on by a DIY weekend warrior. This is a common concern for many reasons — namely budget. But it’s important to remember that saving money could mean spending more time. Low cost can also sometimes result in low quality. On the other hand, hiring a contractor can be a safer choice, and create a stronger return on investment in the housing market.

Not sure what to do? Weigh your options for these four common home remodeling projects:

Bathroom Remodel

Bathrooms are the most common room remodeling project, according to the National Homebuilders Association. In 2012, 80 percent of homeowners remodeled a bathroom, some with a professional and others on their own. According to HomeAdvisor, the average price to remodel a bathroom in Charlotte is $7,938 – $16,041 and takes around 4-5 weeks to complete. Those who tackled the project themselves can save up to 50 percent of those costs, but often spend two to three times as long on the project. Bathrooms have complex systems, from electrical to plumbing; many homeowners don’t have the skills to replace a tub with a shower or install an additional sink. Those facing simpler projects, like painting, changing fixtures and resurfacing cabinets, have an easier time completing the project themselves.

Bedroom Remodel

The cost for hiring a professional to remodel a master bedroom can run from $2,500 to $10,000. This range is so large because of the differences in square footage of the room, the materials and tools needed, along with the types of upgrades planned. For example, tearing down wallpaper is much less expensive than tearing down a wall.

Kitchen Remodel

Homeowners spend more than an average of $20,000 on a remodeling their kitchens. Kitchens have a variety of renovation options. Some people need to upgrade their appliances, which can skyrocket a budget. Other kitchens need only surface remodels, like painting walls, upgrading sinks and refacing cabinets, which some homeowners take on as a DIY project. When it comes to knocking out walls, installing new countertops and floors, bringing in a professional can be a safer option.

Making Safety a Priority

A home remodel can be more than just paint on the walls and new hardware on doors. When you start getting into plumbing, electricity and structural changes, safety becomes a big factor as to why homeowners decide to go with a contractor. There two major reasons to consider safety a priority:

More than 5,000 house fires a year result from faulty electrical equipment, according to the Electrical Safety Foundation International (ESFI).
More than 200,000 people are injured each year doing DIY projects. Construction professionals have safety training, licenses and familiarity for the tools they use.

In addition, there are some financial safety risks to consider, as well. For example, some remodeling projects might require permits or inspections. A homeowner starting a DIY project may not know which permits to get and what they mean, risking paying steep fines and fees. Professional contractors know which permits are needed for specific projects.

Safety isn’t just about specialized skills — basic knowledge comes into play, too. Can you safely and properly knock down a wall so that you don’t damage an essential support? Are you able to safely clean up hazardous chemicals and dispose of them properly? Are you working on your project after a long, tiring day at work? How closely are you paying attention to making sure you’re following safety best practices? If your project requires this level of care, hiring someone with experience (and liability insurance!) might cost more upfront, but could cost less in the long run.

For more guidance in preparation of your Charlotte home sale, let’s talk! Give me a call or shoot me a text to (704) 491-3310 or email me at DebeM@remax.net.

Visit www.ListMyCharlotteHome.com if you’re thinking of selling your home in the Charlotte Metro region and make the right decision to hire a professional! I provide full-service real estate with award-winning customer service. I am also happy to provide references of any of our sellers for you to speak with about their experience. You can also read a few of our reviews at www.CharlotteRealEstateAgentReviews.com.

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

Pricing Strategies to Sell your Charlotte Home in Any Market

09/06/2017 by Debe Leave a Comment

Pricing Strategies to Sell your Charlotte Home in Any Market

The single most important factor in selling your Charlotte home is pricing the home correctly. Many sellers feel compelled to ‘try’ at a higher price but, if you have not received an Offer after 5-7 days, chances are, you may have already shot yourself in the foot – so you MUST immediately reduce the price. After 14-21 days, demand and interest in your home will be reduced significantly, costing you thousands of dollars.

Many sellers fear that if they price their homes too low, they will be ‘leaving money on the table.’ In a sellers’ market or any market, for that matter, this rarely happens – homes priced below market value will often receive multiple Offers, with sellers most likely receiving above or at least, market value.

This graphic reflects the percentage of the potential buyers you can expect to come through your home, depending on your price point and its proximity to the current market value. Note that overpricing even by as little as 10% mean that only 30% of the buyers who are qualified to purchase your home, will actually see it. Of course, pricing below market value will attract the most attention. However, your chances of selling your home at market value are increased when pricing your home correctly – right on the money, at market value.

Now, let’s talk about supply and demand in the real estate market

Active real estate agents are keenly aware of the market and understanding supply and demand is key when calculating price for sellers. Assessing the absorption rate is our first approach.

What is Absorption Rate Pricing?

Absorption rate pricing is an old but, often over-looked method used by real estate professionals to calculate the value of your home. The calculations are based upon the principles of supply and demand. Because appraisers are now using Absorption Rate Pricing to determine your home’s value, it is critical that you understand how the process works.

There are only a certain number of Charlotte homes that will sell in any market in any given period of time. For example, if 12 homes sold in the last 12 months in a given market, that means that the market will absorb 1 house per month on average. If there are 10 homes currently on the market, there is a 10 month supply.

Less than 6-month supply is considered a sellers market.
A 6-month supply is considered a balanced market.
More than a 6-month supply is considered a buyers market.

Next, let’s talk “comps”

Realtors® use comparable properties (comps) as phase II in determining the value of your home. We will locate

Recent nearby sales, similar to your home
Properties that are currently for sale
Properties that are under Contract or pending sales.
Withdrawn homes nearby
Homes that have expired when listed within the last 6 months
FSBOs (homes that have been listed by owners only)

When evaluating the above data, we will –

Look at each home within your neighborhood with any of the above criteria. Note that we pull comparables similarly to an appraiser but, we are not licensed appraisers.
Eliminate properties that are not ‘similar’ to yours – if there are not 3 similar properties that have recently sold, we can assign values to updates and square footage pricing to adjust the comparable properties.
Appraisers will typically consider homes that are within 10% of your square footage measurements of heated space. For example, if your home is 3,000 square feet, comparable properties that the appraiser will use will need to be between 2,700 square feet and 3,300 square feet.
Comparable properties need also be of similar construction and age.
Comparable properties will be pulled within one mile of your home (otherwise known as subject property), taking care to note any major roads or industrial-facing homes, applying the appropriate reduction in value of said property (as a positive for the subject property).

*NOTE: Unique properties, especially those in rural areas, will require a search over 1 mile from the subject property. As well, homes such as historic landmark homes can have comparables pulled from anywhere within the 12-county radius.

Now, let’s do a bit of investigating of each comparable property we located…

What was the original list price?
What was the actual sales price?
Were there any seller concessions?
Were the homes that sold upgraded similarly to the subject property?
If the home sold above list price, I contact the listing agent – Did the home appraise? If it did not, did the buyer bring the difference to Closing or how was that resolved (i.e. were there additional Seller-paid Closing costs)?
Why did the expired, withdrawn or FSBO listings not sell? Chances are, either pricing, condition or location within the community prevented their sale.
How were the expired listings, withdrawn properties or FSBOs marketed?
With regards to pending or under Contract sales – how long were they actively listed before an Offer was received and the home was under Contract? Days on the market tell a lot about pricing and what price was received by the pending sellers.

NOTE: The average square foot cost does not apply to all homes within the community – across the board. The price per square foot increases as the home size decreases and visa-versa. Yes, it’s true, larger homes have a smaller square foot price than smaller homes.

Next, consider market trends

Now, we are going to look at the overall market, taking into consideration how the market absorption rate.

Are we in a sellers, neutral or buyers market?
How many month’s supply do we have in your community?
In a sellers market, with little or no inventory, what was the increase in value over the past 1-, 3- and 6-month period? We will factor in an increase based on that history.
In a neutral market, with no historical value increase, there will be no adjustment in suggested list price.
In a buyers market, with a significant amount of inventory and perhaps seeing a tick downwards in depreciation, your price will need to be adjusted accordingly.

There is much more to pricing your home than looking at the national websites and taking into consideration their faulty estimates. It’s also not as simple as pricing your home the same that your neighbor’s home is priced either. Other factors include:

Does your home have a pool?
Is your master bedroom on the main level in a community that is a preferred floorplan?
Conversely, is your master upstairs?
Do you have space for a second living quarter?
How improved is your home compared to others in the community? (And I’m not talking about fresh paint – I’m referring to kitchen & bath updating and outdoor hardscaping.)
Has your home been well-maintained?
How is your landscaping?
Do you have hardwoods or carpet on the main level?

These are but, a few of the items that are important to buyers and each year, the list of ‘must-haves’ change in the minds of buyers. So, if the price that I suggest for you does not agree with the price that you had in mind before we met, let’s talk!

Let’s discuss the manner in which you arrived at your number. If we’re still a bit apart in our pricing, let’s go look at the homes that your buyers will be touring – let’s check out the competition, in person.

If there is still a question, a $450 appraisal may be warranted and is highly recommended.

Pricing is KEY to a successful sale – and a timely one as well.

Yes, real estate is all about ‘location, location, location’ but, there is nothing that we can change about the location of your home. Pricing and the condition of your home move up to the top of the list for you and we must first get our price in alignment for a successful and timely sale.

If you’re thinking of selling your Charlotte home, let’s talk! As with everything in life, preparation is key and I will equip you with what you’ll need to get you, as seamlessly as possible, through the home-selling process. Call or text (704) 491-3310 and let’s get started!

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

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The First Impression Just May Be Your Last When Selling Charlotte Real Estate

05/07/2017 by Debe 20 Comments

The First Impression Just May Be Your Last When Selling Charlotte Real Estate

When people meet you for the first time, their first impression is typically a lasting one. You will also never get a second chance to make that first impression when you’re selling your Charlotte real estate either. You need to present your home at its very best all the time, regardless of the amount of time your home has been on the market.

Here are 4 things you can do to make a great first impression:

1. Clean Up the Yard: A messy yard is, simply put, a distraction. It can be time consuming to keep up with general yard work, but it’s certainly worth the effort. Overgrown shrubs, limp lawns, and general disarray can turn off a potential buyer. If you have to hire someone to come in and give your yard a quick pick me up, it’s well worth the money.

2. Get Rid of Items You Don’t Need: Be very diligent about this and get rid of all but the bare necessities. You don’t have to throw or give everything away. Find a storage unit and put the things in there you will be taking with you to your new home but do not need immediate access to for now. Remember, you’re going to have to pack it up ANYWAY when you move! Declutter!

3. Fix Up the Little Things: After all, It IS the little things that count. If you have a leaky faucet, a broken tile in the floor or a crack on the wall, now is the time to fix it. It’s little flaws like this that make potential buyers worry that there are bigger problems waiting to be found. Many buyers feel that if you haven’t taken care of the little things, there may be larger, underlying items that you haven’t cared for either.

4. The Front Door: How does your front door greet your buyers? Many of us pull into our garages, rarely ever using our front door other than to greet guests from the inside—never seeing what our guests see as they’re standing at the door waiting for us to greet them. Are there cobwebs? Are there bugs and debris on the doorstep? Is your welcome mat 20 years old? Is there paint peeling and cracking on the door? The best first impression IS the front door: Paint it, keep the area around the door—whether it’s a step, a stoop or a porch—clean and free of debris. And, put out a new welcome mat and fresh seasonal flowers in a nice pot—make them feel at home before they even open the door!

Selling Charlotte real estate is a lot of work for home sellers but, it is well worth the time investment in properly preparing your home. You can get it sold in a shorter amount of time, with ease and for the most money when you take the time to make a great first impression.

Other seller tips to help you get your Charlotte real estate SOLD:

If you have any questions about what you can do to make your home sell faster, I can help. Call or email me today.

Request More Info – Charlotte NC Real Estate Homes for Sale

Charlotte North Carolina Real Estate

Debe Maxwell, CRS, Realtor®/Broker
THE MAXWELL HOUSE GROUP
2901 Coltsgate Road, Suite 100
Charlotte, NC 28211
Mobile: (704) 491-3310
CharlotteBroker@icloud.com

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Top 10 Charlotte Home Seller Tips for 2018

Top 10 Charlotte Home Seller Tips for 2018

First Impressions are Critical

Here are 10 top priority tips for Charlotte home sellers:

More Charlotte home seller information:

Top 10 Charlotte Real Estate Articles for 2017

Top 10 Charlotte Real Estate Articles for 2017

Here are the top 10 articles for 2017:

More Top Hits (evergreen articles [written in previous years])

Popular links that were accessed from our site included:

Common Home Remodeling Projects: DIY vs. Pro

Common Home Remodeling Projects: DIY vs. Pro

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

Pricing Strategies to Sell your Charlotte Home in Any Market

Pricing Strategies to Sell your Charlotte Home in Any Market

Now, let’s talk about supply and demand in the real estate market

What is Absorption Rate Pricing?

Read more about how we calculate absorption rates.

Next, let’s talk “comps”

When evaluating the above data, we will –

Now, let’s do a bit of investigating of each comparable property we located…

Next, consider market trends

Pricing is KEY to a successful sale – and a timely one as well.

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

The First Impression Just May Be Your Last When Selling Charlotte Real Estate

The First Impression Just May Be Your Last When Selling Charlotte Real Estate

Here are 4 things you can do to make a great first impression:

Request More Info – Charlotte NC Real Estate Homes for Sale

Charlotte North Carolina Real Estate

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