The Green Fox speaks truth.
Ask the Green Fox your real estate question here. We’ll post a reply fast.
13 Comments
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The Green Fox speaks truth.
Ask the Green Fox your real estate question here. We’ll post a reply fast.
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I’ve heard in the past that if you did a kitchen renovation, you could expect to gain $5k to $10k on the purchase price of your home by investing just $1k on kitchen renovations. Is that still true in the current economy?
If I had $1000 in an ugly outdated kitchen, I’d paint, refinish cabinets, change out hardware, and maybe have enough to do some nice laminate counters, and maybe have enough to do a new floor depending on size of kitchen, (all do-it-yourself). Since the kitchen is so important to most buyers, that would fetch me more showings, more emotional response, and more serious buyers. It would put me as a more desirable home with less work for new buyers, which is how you could find your self getting thousands more than what you invested. Pricing in general is always dependent on multiple factors though, which you can see on our sellers page, hope that helps
Can you send me foreclosures in a search?
Yep, easy as pie. Realtors have access to more information than you can find just browsing the internet including pricing reductions, days on market, etc. Its very easy for us to set up, and you can get them emailed to you whenever you want.
In today’s competitive market what “basics” or “bare minimums” would you say sellers should start with to get home shoppers to become home buyers?
Bare minimums just aren’t cutting it right now. You should go overboard and more. Probably the biggest mistake people make is to think that defects in their house, outdated decorating, or clutter just don’t matter that much. Buyers don’t have to look past messes, they can just move on. Nearly every price range is competing with new construction at the moment, and if there isn’t new construction in the vicinity, its not far. Take the time to do things right, make your house a jewel that buyers want at first sight, and you’ll be doing yourself a favor.
I live in Chapel Hill. There are three homes for sale on my block. They are just sitting there. My gut tells me now is an awful time to sell. Am i right?
Yep you’re right Charlie,
It’s a tough time to sell, unless you have a unique home, unique location, or special price. It just comes down to the fact that the amount of sellers is far outweighs the buyers. Nobody can say for sure, but if you imagine 2-3 buyers for every 10 sellers, you can see the power that its giving buyers. Probably not what you want to hear, but its the truth. Saying all that, you can still sell your home, but you have to be honest about the factors listed above, and go from there.
-Aaron
I’ve heard that if I tour a new home development with the builder’s agent it prevents my buyer’s agent from getting paid if I end up buying a house there. Is that true, and if so, would just asking the builder’s agent about the future plans for the development do the same thing? I’m considering a new construction home as an option, but I’ve avoided talking to any builders because I wouldn’t want to mess up things for my agent.
Hey Mike
In my experience, the best thing to do would be to first decide if you want to work with an agent. If you do, then meet with some people, and find a good fit. Then you just want to make sure that you introduce yourself as working with that agent when you look around. Most of the time they want you to fill out a card, so that’s a good way. If you hadn’t found somebody yet, you could always say that you will be working with an agent. Many builders really enjoy when the buyer has an agent and are happy to work with them. I have also encountered some who will refuse to allow the buyer agent to be paid if they weren’t introduced from the beginning. Hope that helps. If you have any more questions, feel free to ask or call.
-Aaron
That’s exactly what I needed to know. Thanks Aaron!
Hey Aaron,
I have a house that I own which I converted to an investment two years ago. I have a reliable tenant who is renting on a yearly lease, so the mortgage is covered. There are, however, other expenses associated with the property that I am paying out of pocket, and I plan on trying to put the house on the market eventually and would hope to do so at a time when I can expect to get the most return.
Since the market here in Raleigh continues to decline in terms of property values, how should I determine the right time? How can I best execute a sale that maximizes my sale price so that I can loss the least amount of equity?
Thanks in advance for your answer,
Greg
Hey Greg
Real estate is a gamble like any monetary investment so its anybody’s guess where this market is heading, but as far as the best time to sell a property – I’d say have a real estate agent with access to property data watch your area to see when property values seem to be optimal. They come and go depending on all sorts of factors – relocation, foreclosures, short sales, super nice houses, disgusting houses, buyer demand, number of choices, etc. If I was selling my own house I’d wait til i have 2-3 sales with good $/sq ft, nothing really low under contract, and few other choices, and then I’d put it on the market. Also keep in mind that your renter needs to be gone or on-board with the whole things or it can just be a huge mess. Hope that helps