Category Archives: Sellers
How to Sell a House in 21 Days
I started to write this post in early November, soon after my clients and I ratified the contract on their house and right about when the story was published on the Newsplex. I almost didn’t do the Newsplex story.* (see the end of this post for the rationale)
A few of my rules for real estate:
“Under Contract” ≠ “Sold”:
- “Under Contract” means: “we need to get through the loan application, loan commitment (including appraisal), home inspection and any other contingencies.
Most importantly – What did we do to get a contract on this house in three weeks? Put simply:
1: My clients worked hard. For a long time; we met last year and discussed strategies for getting their home ready to put on the market, the value of pricing the home right, what they needed to do and what I needed to do to prepare for the marketing of their home.
2: We priced it right; tracking the real estate market, the sold competition and most importantly, the active and under contract competition.
3: We worked the first offer we got. One of the real estate truisms is that the first offer is usually the best offer; you might not get another offer.
4: We got lucky with the buyer’s agent; she’s one of the best in the area and that was one of the factors we evaluated when evaluating the offer. I’m probably going to touch on this aspect in a later, separate post, but the quality and competence of the opposing real estate agent matters. If I can advise my clients that there is a reasonable expectation that the transaction will go relatively smoothly in part because the other agent agent is competent, that’s a serious component we evaluate. (as a contrast, if I don’t know or trust the other agent, that’s a factor as well)
5: My clients worked really, really hard and were realistic about the market and their expectations. I can’t emphasize this one enough. Selling a house is hard work – for the sellers and their representation. Being willing and able to work, be realistic and reasonable is invaluable.
6: Lastly – price absolutely matters, but it’s not always the most important factor. (as an aside, my feelings from the linked post regarding other agents’ competencies have shifted quite dramatically as I have gained much more experience; when I wrote that I had been in the business just over three years; now I’m entering my 11th year)
Thinking about Buying or Selling in the Spring?
If you’re thinking about buying a home or selling a home in the Charlottesville area in the spring, these are three stories of interest:
1 – When do homes come on the market in Charlottesville? Short answer: Spring. Longer answer: look at the data.
2 – Preparing to Sell a House in Charlottesville – Step one: start the process now. (get the right representation)
3 – Preparing to buy a home in Charlottesville – Step one: ask questions. Step two. Get representation.
There is sooo much more to write, (I’m approaching the 7 year anniversary of this little blog) but … Continue reading…
FHA and Condos in Charlottesville – Are they Eligible?
Guest post from Matt Hodges with Presidential Mortgage*:
Condominiums are a challenge to finance through FHA. Condominiums had a brief period when lenders overlooked eligibility and approved every loan, as long as the borrower was qualified – that period ended some four years ago.
Today, condominiums are one of the most difficult forms of residential real estate to finance, perhaps with manufactured housing more difficult. Using a search of “Charlottesville” condominiums in the FHA search tool, 19 condominium complexes appear. Hey, good news, right? Not so quick. Eight of those complexes have expired and four more will … Continue reading…
Should Sellers be More Patient?
Should people really be cutting their prices to sell their houses?
Answer: Yes.
5 Things to Do NOW If You’re Putting your House on the Market in the Spring
1 – Take pictures now.
2 – Start conserving energy and water. “How much does it cost to operate this home”? is one of the most common questions buyers are asking now.
3 – Do those things now that you’ve been meaning to do since you moved in. You know: caulking around the windows, replacing that screen, putting that threshold back … you know the list.
4 – Start going to open houses. Look at comparable homes. Ask a good Realtor for advice. You might think this home is a comp, but really, it’s not because of all … Continue reading…
Waiting (to Sell your Home) Is the Hardest Part
I think of this song whenever I talk to sellers who are frustrated by their homes not selling.
Put simply:
Sometimes the buyer for your house is not in the market right now.
As a seller, you and your real estate agent:
- could be doing everything right. Continue reading
If you Want to Sell your House (In Charlottesville) – Do it Now
You may be well advised to try to sell it now. The surge is coming.
In addition to the above, these are five excellent reasons to sell your house now … five reasons that I have been telling my clients since well before I read the article. #5 may be the best reason: You Get to Move On with Your Life.… Continue reading…
