Real Estate Insights in the Carolinas

Sellers, do you know your competition?

 
It could be that cute cottage down the street or a ranch with a great backyard in another part of town, but if your house is on the market your home no doubt has some competition. It's important as a seller that buyers have a lot of selection in the market today and buyers are going to be comparing your home to all kinds of others they like. So how does your home stack up?

Know your competition. Ask your REALTOR to send you a report of price reductions or status changes for comparable properties. We have a tool called Online Seller Advantage that homes listed with us get on a weekly basis with the rundown of what's going on with competitive listings. When you know your competition you can make sure your house stays competitive and doesn't fall behind on potential buyers list.

Play up your strengths. What does your home have that theirs doesn't? Talk to your REALTOR about your homes strengths compared to what else is on the market and make sure to play those up in your photos and descriptions online. Try to remember what you liked about your house compared to others you looked at when you were buying, what made it stand out from the rest.

Make sure your price is right. You don't want your house to be priced too high compared to the competition. This is something you and your REALTOR need to keep an eye on every step of the way because as new properties come on the market the competition is always changing - make sure your home is priced right for the market today and be aggressive.

Greensboro sales associates and staff move into new office in Friendly Center

We have a new office! Our Greensboro sales associates and staff now have a brand-new, state-of-the-art office to call home. The new location, conveniently located in the Shops a t Friendly Center at 3352 W. Friendly Ave., Suite #122, in Greensboro, offers the perfect combination of form and function for both real estate sales associates and home buyers and sellers.

The new office space was designed with the modern real estate sales associate in mind.  Each work area provides a seamless transition from the road to the office, enhancing top producers’ capabilities with the latest technology and phone system.  The welcoming open floor plan creates ease of interaction and communication among the sales associates and staff, while providing the high-tech feel of the efficiently-sized workspace.

Audrey Fuhrmann, Broker-In-Charge of the Greensboro office of Prudential Carolinas Realty, said “Our dynamic new office provides a convenient, visible location and an environment to accommodate the needs of all of our buyers and sellers – from first-time homebuyers to seasoned homebuyers and sellers. As a full-service company, we provide all our clients with a seamless transaction by offering in-house mortgages, title insurance, home warranties, relocation services and more. We hope you will stop in our convenient new office location so we can introduce you to the friendliest real estate team in the Carolinas.”

Tommy Camp, President and CEO of Prudential Carolinas Realty, said, “Our Greensboro team has consistently exceeded the expectations of buyers and sellers throughout the area, and we’re glad they will have an office space that will meet their needs now and in the future.”

Join us for our open house in September.

Voted the top real estate company

Prudential York Simpson Underwood Realty is building on the tradition of York Simpson Underwood by adding an 8th Standing Ovation award from the readers of Metro Magazine to its shelves. The award honors the top real estate company from the Triangle to the Coast as chosen by Metro Magazine readers.

 

    * View Metro Magazine's full listing of this year’s winners

 

Thank you to everyone who voted for us!

Action Plan for an Easy Move

The key to an easy move is careful planning. There are many action items that need to be taken prior to the move all the way up to the actual day the  first box is loaded on the moving truck. Take time to write down and organize the decisions and activities that will need to be accomplished prior to the move such as securing a mover and changing your address. Ideally, you should try to break up the tasks over a two-month period. By doing so, you won’t overload your schedule, plus it can save you time and money.  To get you started, consider using the checklist below as a guide.

Eight Weeks Prior

• Get estimates from at least three professional movers. If you are going to do it yourself, get estimates on rental trucks.
•  Decide which furniture and household goods you’ll be taking, which needs to be disposed and which needs to be replaced.
•  If you will be moving to a new city, contact the Chamber of Commerce of that town for a new residence packet. Your sales professional may also have information.

Six Weeks Prior

• Inventory your possessions besides furniture – kitchenware, decorative items, electronics, apparel and so on.
• Complete a change of address form with the post office. This can be easily done online at www.MoversGuide.com for a minimal cost of $1. Make sure you notify organizations, credit cards companies, and publications to which you subscribe of your new address, too.
• Obtain copies of all medical, dental, legal, accounting and veterinarian records.
• If children are changing schools, arrange for transfer of educational records.
• Itemize moving-related costs with the mover including packing, loading, special charges and insurance.

Four Weeks Prior

• Make arrangements for packing your belongings. If you will be using professionals, schedule with the company for packing to take place a day or two before the move. If you will handle packing on your own, purchase adequate boxes, packing materials and tape.
•  Arrange for short-term or long-term storage if needed.
•  Make travel arrangements for pets including necessary medical records, immunizations, medication and so on.

Three Weeks Prior

• Begin packing items you won’t need immediately or that will go into storage.
• Contact utilities on both ends of the move to order termination or turn-on for occupancy date.
• Confirm travel arrangements for family and pets.

Two Weeks Prior

• Terminate newspaper and other delivery services.
• If necessary, arrange and confirm new bank accounts and local services in your new neighborhood.

One Week Prior

• Gather important papers, records, and valuables for protected shipment to new home or safe deposit box.
• Obtain any prescription medications needed for the next few weeks.

Day Before or Actual Moving Day

• Defrost refrigerator/freezer and give away all perishable food.
• Keep a box marked “Last Box Packed/First Box Unpacked” for tools, flashlights, first aid kit and so on. On moving day, this should be the last box placed on the truck.
• Pack items to carry with you such as valuables, financial records, personal papers and so on.
• Give the movers a telephone number and address to reach you.

Tips for selling a vacant home

As the real estate market continues to stabilize, sellers may find that their property remains on the market significantly longer than the days of “list today, sold tomorrow.” There is also more competition for buyers. So, it can be frustrating to put your home on the market, expecting a fast sale, only to find that after six months you’re still waiting for an offer. This is especially true if you need to move quickly and leave your unsold home vacant.

Besides creating a marketing challenge, a vacant home can also be a target for vandalism. Here are strategies you can use to hasten a sale and protect your property during the process.

· Instead of producing a spacious appearance, an empty room tends to look smaller than a furnished room. So, leave behind a few select pieces of furniture and keep the window treatments in place. A chair or lamp on a small table will confer a sense of scale and help potential buyers gauge whether their furniture will fit the space.

· If you decide to remove the furniture, have the house cleaned and painted. Furniture, rugs and decorations tend to hide or minimize imperfections. When furniture and artwork have been removed, every blemish and bruise becomes accentuated, faded paint and wallpaper become more noticeable and scratches and nicks stand out.

· Repaint brightly and boldly colored rooms to a neutral tone. What was an eye-popping room when fully-furnished may appear stark and small when empty.

· To thwart unwelcome visits, give the house a lived-in look. Set a couple of lamps on timers, and ask a neighbor or friend check on the house daily to collect mail, park a car in the driveway, and close and open drapes and windows. Continue using a gardening service or hire someone to cut the grass regularly. During the winter months, arrange to have snow shoveled from the walks and driveway.

· If available, consider employing a home manager or house sitter. At little or no cost to homeowners, the house is furnished and decorated for show-to-sell condition. Most companies require home managers to mow the lawn, shovel snow, even pay pool maintenance and utilities. Having someone living on site discourages vandalism, protects against deterioration and weather hazards and may even reduce insurance costs. (Check with your insurance carrier.) 

· Leave the utilities connected. Depending on the season, make sure the thermostat in the house is set at a comfortable level. You don't want a potential buyer to run through the home because it is too hot or cold.

· Review your homeowner's insurance policy with your insurance agent to find out what the stipulations and coverage pertain to your vacant home.

· Find a real estate professional with experience selling vacant houses. Often, these sales professionals specialize in relocation. You want to make sure that you are comfortable with your lines of communication. If you will be residing in another town, come up with an agreement on how often your representative will check on the home and what should be done if a problem develops.

Although a vacant house presents certain challenges, it does not need to be difficult to sell.

Prepare your home for a successful Open House

 Buyers are drawn to homes that appeal to their senses. This is important to remember when preparing your home for an Open House. Through sight, sound and smell, buyers should leave your home with a lasting impression. Here are some tips to showcase your home in the best-possible light.

Exterior

Start outside by inspecting the front of your home from across the street. Does it have curb appeal? It should look inviting, with a trimmed lawn and flowerbed and a freshly painted front door. Polish door handles and knockers and replace worn items such as a rusty doorbell. Consider adding a new doormat and flowering plants at the entrance. Do the windows need cleaning? Be sure to remove oil stains from the driveway.

Next check the side and back yards. Add some flowering plants to the back as well. Rearrange the outdoor furniture to look inviting. Put away gardening tools. Tidy around the grill area.

Interior

Now focus on the inside of the home where cleanliness, space, smell and lighting are key. First, get your house in tip-top condition by cleaning and clearing away clutter. Steam clean and vacuum the carpet. Make sure your floors are waxed and shiny. Touch up nicks on walls and make sure the porcelain sinks and tubs and metallic fixtures shine. Your kitchen and bathrooms should pass the white glove test. Be conscious of any lingering odors such as smoke, pets or strong-smelling foods. You may need to air out your home prior to the Open House. Consider grinding fresh lemons in the garbage disposal or even baking chocolate chip cookies. And don’t forget to empty all trashcans.

Next, set the mood. You want buyers to be able to picture your home as their own. Consider rearranging the furniture so that rooms look more spacious. Add accessories from rooms with too many furnishings to those that appear bare. Look at your countertops in the kitchen and bathrooms and the tops of your bureaus. Do they seem cluttered? Clear away and store as much as possible. The idea is to make your home appear spacious.

Lighting is also an important factor in creating an inviting atmosphere. Bright lights provide a cheerful environment and make a small space appear larger. Pull back all the drapes and open the blinds. Turn on all the lights. Make sure all the light sockets have working bulbs and install the maximum-wattage bulb that is safe for that fixture. For rooms that you want to have a warm, cozy feeling, use softer lights.

Don’t forget little touches such as fresh flowers, lighted candles in the bathrooms, new logs in the fireplace, or a bowl of fresh fruit on the kitchen counter. You may even want to set your dining room table with color-coordinated table settings.

An Open House is a terrific way to show your property to many people in a short amount of time. However, keep in mind that buyers may see seven or eight homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious and the most cheerful. So, don’t rely on buyers to use their imagination. Help them capture it. Work with your real estate professional to get more tips on creating an unforgettable home.

J.D. Power and Associates ranks Prudential number one with sellers

J.D. Power and Associates released its 2008 Home Buyer/ Seller Study, ranking the largest national real estate firms by customer satisfaction. According to sellers, Prudential Real Estate ranks highest, ahead of closest competitors Coldwell Banker and RE/MAX. Home buyers ranked Prudential Real Estate second for overall satisfaction. Overall satisfaction is determined by examining three factors for the home buying experience and four factors for the home selling experience. Home-selling customers were asked about the firm's agent, marketing, office and services. Home buying customers were surveyed about the real estate company's agent, office and services. The inaugural study includes 3,670 evaluations from 3,205 respondents who bought or sold a home between April 2007 and June 2008. "When buying a home, customers particularly appreciate agent professionalism, responsiveness to calls and e-mails and the agent's skill in locating and showing properties in the appropriate price range," said Jim Howland, senior director of the real estate and construction practice at J.D. Power and Associates. "When it comes to selling a home, marketing of the home is particularly critical, although professionalism and responsiveness of the agent are still important." To read the full report, visit To read the full report, visit http://www.jdpower.com/homes/articles/2008-Home-Buyer-Seller-Study.

Tips for moving with children

Moving is an exciting time full of commotion that can be tough on everyone, including the children. The impact the move will have on kids usually is age-related. Babies, toddlers and young children tend to deal well with moving, while adolescents may resent and resist the move.

Here are a few timeless tips that may help all families on the move:

• Clearly explain why you’re moving. Children like to be in the loop and talking to them about the move, what it means and what it will entail can help limit move-related anxiety.
• Familiarize the children with the new location by providing them with exciting information about the area. Some useful tools include maps, news stories and pictures. Highlight some of the location’s points of interest that you think your children will appreciate, like an amusement park or nearby lake.
• Make sure everyone has packed and clearly labeled their most-used items and keep these items easily accessible. For a small child, this could include a few favorite toys or a security item. Older kids may not be able to survive without certain electronics or favorite clothing items.

Moving with Babies and Toddlers

Babies and toddlers typically are easy to move, but they also can become confused or scared. Consider the following tips for them:

• Pack their rooms last and keep favorite toys and other must-haves close at hand.
• Try to stick to established routines like lunchtime and naptime.
• Once in the new house, young children may need to be reminded about which household appliances are dangerous and other safety precautions or rules they learned at the previous house.

Moving Preschoolers and School-Age Children

Kids this age can get excited about moving and may be eager to help. If you’re moving with school-age children, consider the following tips:

• Let the children help pack their own rooms and once you’re in the new house, let them help decorate and arrange their new rooms.
• Locate the recreational facilities and children’s group activity centers. Once you’re in the new location, enrolling your children in group activities can help them quickly make new friends.

Moving Adolescents

Adolescents are deeply involved in their social network. Child development experts suggest these kids receive news of the move as soon as possible. They will need more time to get used to idea and to say good-bye to their friends. Some other tips to consider:

· Spend time together getting to know the new area by driving around and noticing what other kids are doing and wearing. Discuss how you can help your child “fit in.”

· If your child is a senior in high school, some child-development experts suggest letting the child stay behind to finish the school year. These experts emphasize that this decision only makes sense if your child’s living conditions will be appropriate and safe.

Moving is an exciting time when families tend to work together to make sure the adventure goes smoothly. Your real estate professional has helped many families move and is a great resource for more information about moving with children.

Avoid Seller Mistakes

You want to get the best price for your home, plus sell it in the least amount of time. In a buyers’ market, homes will take longer to sell. Therefore, it’s important that you make the right moves at the very beginning of your home selling process to remain competitive. Here are some common traps that many homeowners fall into and how to avoid them.

1. Over-pricing — It’s easy to think your home is worth more than the current market may support, particularly after the long run-up in home prices. Since home prices have cooled in markets around the country, home sellers must be prepared to negotiate on price and terms, and stay flexible to other stipulations benefiting the buyer. Sellers must also keep their emotions in check during the process. After all, your home is special to you and your family, and you’re proud of the improvements you’ve made over the years. But, how does your home really stand up to the others? And are those improvements important to a potential buyer?

To determine a reasonable listing price, get sales statistics on homes in the neighborhood including listing prices and actual sales prices, how long it took for the homes to sell, and government valuation comparisons. You’ll also want a market appraisal on your property. Visit homes for sale in your area and compare what you see in terms of sales appeal.

2. Negligent Housekeeping - Buyers need to be able to envision themselves living in the home. Take a good, objective look at the condition of your home. Clean, well-kept homes with an updated appearance always stand out, and a little decorating appeal can go a long way. You don't have to buy new furniture to create charm, but you can put toys and clutter away, freshen up paint and carpet, make the most of window coverings, and add a few key accessories in order to send out welcoming signals.

3. Failing to Fix-It — Buyers, unless they are looking for a fixer-upper, would prefer to move into a home that is in perfect or near-perfect condition. If they have to fix the roof, a broken tile floor, the garage door, worn carpet or just about anything, this may give them pause about buying. At the very least, it may lower the value of the home in the prospective buyer's mind.

4. Not Identifying Exclusions — This can be a cause of contention just at a critical point in the sale. Be sure to specify any special sales considerations or exclusions from the fixtures and furnishings list. Generally, anything permanently fixed to the house is an asset that stays with the home after the sale. So if you intend to take your grandmother's antique chandelier that’s hanging in the dining room, clearly specify that the chandelier is not included in the sale price.

5. Not Understanding the Agent Agreement — Your sales endeavor will go smoothest when all parties have a clear understanding of what is expected. Understand the types of agency agreements when you sign with a real estate professional or company. Be sure to check on fees, commission percentages, marketing plans and time frames. Most importantly, get everything in writing.