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A one year journey through Real Estate: Weeks 13-14

A one year journey through Real Estate: Weeks 13-14

The last two weeks have whizzed by for me.  I’ve been busy at home and at work. 

I have been attempting to wrap things up for a buyer purchasing a foreclosure.  The buyer is out-of-state and I did much of the leg work for them.  All has gone well, but the bank took close to a month to get the signed paperwork back to us.  I suppose it’s just the way things go these days with short sales and foreclosures.

I had been working with another first time buyer, who had become somewhat frustrated, since the properties she liked best were out of her price range.  At the advice of my broker in charge, I suggested she revisit her lender and explore a 5/1 arm, rather than the thirty year fixed she was approved for.  She wound up with a rate of 3.75%, versus the thirty year rate of 5.2%.  She was so excited that we wound up looking at several more homes and she found one she loved.  We made an offer which was accepted and she wound up with an excellent deal.

Both will close by the end of April.

I continued with farming my neighborhood, mailing out the third round of postcards in three months.  I was attempting a blitz before the spring selling season.  So far, no results, but I’m hopeful.  It just takes one listing to be worthwhile.

I also did an e-mail blitz of local builders.  The market for new homes is still slow here, especially with upper end custom homes.  Earlier this week, I attended a webinar by Builder Magazine.  There are several areas of the country with very healthy markets for new construction.  Charlotte, NC and Raleigh, NC were in the top ten, with Charlotte being number three.  Greensboro is in the middle geographically, but not in the top twenty list.  It’s only a matter of time.

Trends showed successful builders changing and adapting to the times and the newest generation of buyers.  Smaller is in.  Buyers are not concerned with keeping up with the Joneses any longer.  In these economic times, it’s all about value.  Green is in, especially with younger buyers.  Several communities even included ports in the garage to plug-in an electric car.  Formal areas are out!  No more formal living rooms or dining rooms.  They are considered wasted space.  Large open areas, suitable for entertaining at home and keeping the family together at home are the future.

This past week also had much positive economic news.  Consumer spending is up considerably, which should create more jobs.  Consumer confidence is up and the stock market had some major gains. Finally, the media has been reporting positive economic news.  The CBS Morning Show did a report on real estate, saying “Now is the time to buy.  Don’t wait”

That’s it for this edition.  Stay positive and take advantage of the moment.

Jeff

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Filed under Custom Homes, General brokerage, Home Builders, Housing, North Carolina, North Carolina Real Estate, On your lot Builder, Real Estate, Real estate agency, Real estate broker, Realtor, Uncategorized

A one year journey through Real Estate: Weeks 11-12

A one year journey through Real Estate: Weeks 11-12

I have discovered over the last month, that blogging weekly is not quite as easy to do as I thought.  Yes, I again missed last week’s blog.  So, I’m going to attempt bi-weekly blogs.  We’ll see how that goes  🙂

It seems like business has picked up a bit for most of the agents in our office.  But, it is clearly focused in the $100,000 to $200,000 range, with $150,000 being the sweet spot.  I believe this is mainly first time buyers wanting to take advantage of the $8,000 tax credit, before the April 30th deadline.  I’m sure the warmer weather has also brought buyers out.

Last evening, I attended the Greensboro Southern Ideal Home Show preview.  The attendees were mainly builders, real estate agents and show vendors.  I was able to speak to many custom builders and to one production builder.  The general consensus was basically the same.  Under $200,000 was selling, but not much else.  Several of the custom builders have begun doing remodeling as well, to fill in the gaps for now. 

Green building was one of the main agendas at the show.  From appliances, HVAC and recycled materials to Energy Star nad Green homes, all were represented.  This is certainly the wave of the future as so many buyers are focused on the environment, but I don’t believe “green” has reached it’s true potential.  Buyers are concerned with the bottom line and if “green” equates to a higher cost, they are not interested.

I attended a seminar on social media marketing at the show.  It was very informative and for me, satisfying to know I am already doing most of the social media marketing and doing it correctly.  Of course there’s always something new to learn.  I was surprised at the reluctance of many in the room to embrace the newer marketing methods.  It is clear that those who don’t embrace it will fall by the wayside.

Any sellers in the Greensboro area should be getting their homes ready to list very soon.  The trees and flowers will be in full bloom over the next couple of weeks, so take advantage of the curb appeal.  If you’re not sure what your home is worth, call me for a free comparative market analysis and staging ideas.

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Filed under Builders, Custom Homes, General brokerage, Home Builders, Housing, North Carolina, North Carolina Real Estate, On your lot Builder, Real Estate, Real estate agency, Real estate broker, Realtor, Uncategorized

A one year journey through real estate, Week 6

A one year journey through real estate, Week 6

Another fairly quiet week has gone by.  Once again, weather has wreaked havoc in many parts of North Carolina and the eastern states.  Greensboro was lucky in dodging more snow, but suffered the effects of high winds.  Many trees were down and as a result power lines were down as well.  A church steeple in town still hangs precariously off the roof of a local church.  At least the local school children did not miss any days this week.

There was some good real estate news this week.  Home prices rose last month and are expected to continue this trend.  This is a very positive sign of economic recovery and in particular, a healthier real estate market.  This should give confidence to those considering listing their homes.  The biggest concern I hear from potential sellers is the decreased value of their homes.

With this positive news and spring being just around the corner, prospective sellers should be getting their homes ready for the selling season.  It can be hard for some with snow still in their yards to think about spring, but here in North Carolina, the warmer weather could arrive at any time.  So, it’s time to get out in the yard and start cleaning up all the fallen branches and making sure the yard is spruced up as much as possible.  If needed, replace that old mail box and put some new house numbers up.  Give the front door a fresh coat of paint and plant some pansies next to the door.

While it’s still cold out, take the time to start sprucing up the interior.  Fresh paint makes any room shine.  Empty out all of the closets and get rid of anything you truly don’t need.  Wash the windows, dust off all thew cobwebs, rearrange the furniture to make the room more spacious and if the carpet has stains, get it steam cleaned.  There are so many ways to make your home look better and to appeal to buyers and most cost little to nothing.  By the time you’re ready to put your home on the market, it will be ready to show off.

I am happy to come to your home to give you staging ideas and tell you what is needed to make your home stand out.  So, think warm, sunny thoughts and give me a call.

Jeff

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Filed under Builders, Custom Homes, General brokerage, Home Builders, Housing, North Carolina, North Carolina Real Estate, On your lot Builder, Real Estate, Real estate agency, Real estate broker, Realtor, Uncategorized