Archive for the ‘Listing a House’ Category

Even in a seller’s market, the purchase price must be correct

Thursday, September 12th, 2013

Within an industry when demand is strong and it’s difficult to figure out what buyers are willing to pay (a principle called Price Elasticity), how do real-estate agents establish the correct price tag for a house?

With most agents, it is a guessing game.  Agents often start out with at a higher value than is borne out by the actual market details and then adjust downward from there.

Supply and Demand have always dictated price, as any economist will tell you. Clearly, if the supply is small, the cost should be raised to generally meet it. Many agents, however, just look at the Comparables to tell you what the market has been paying – in the past, without factoring in market changes.  Your average agent uses this to set a price, then when the market refuses to pay that price within 14 days, they start reducing the price.  Other agents know that.  They can see the downward trend and will wait until the value is under market before bringing in their offer, perhaps 3 months after it could have sold.  The key is pricing right the first time.

Comparables are very valuable to ensure that the market does not overheat or to understand why one property is out of tune with the rest in its neighborhood.  But they are only one factor.

We at Home Expo Gallery know the current market trends and we can make sure that you buy or sell at the right value. We know the impact of a shrinking inventory, or a hanging “shadow” inventory (what’s that?  Call us and ask!  You need to know this…) in your area.  We watch what is happening with listing prices and offer amounts.  We have analysts that compare local trends with national figures to understand what is happening in the overall and local markets.  Give us a call and we will help you answer all your questions.

Hunting for the perfect place to call home

Wednesday, September 11th, 2013

After you are pre-qualified for a loan, you will be ready to put your house-hunting efforts into high gear. But don’t miss out on the essential step of scouting out neighborhoods before you look for an ideal house.

The neighborhood in which you buy will greatly shape your enjoyment of your new home —such things as strolling to a nearby park with your kids, knowing that your kids are attending great schools, feeling safe when your young ones are outdoors, being near to eateries, etc.

Pay attention to the overall appearance of the homes in the neighborhood. Are they effectively maintained? Are they perfectly landscaped? This may indicate good neighbors, or an overly-intrusive home owners association.

When you have young ones, look for a community with plenty of young ones around, as opposed to neighborhoods that entice more seniors or young singles.  They will have friends to grow up with and the parent network will be helpful.  Perhaps you are young and single, and the midtown entertainment and dining areas are what you need.

Other facets you’ll want to consider would be the schools and understanding the direction of property values in the area.

Home Expo Gallery is quite familiar with the neighborhoods in the area and helps you find the right neighborhood for your situation.

School Area

Even if you don’t have school-aged young ones, purchasing a home in an area with good schools will be in your best interest. When the time comes to sell your house, future customers with young ones will probably consider good schools their top priority. And neighborhoods with good schools entice more buyers.

Crime Data

No-one needs to live in a neighborhood where break-ins and burglary would be the norm. You will find websites that may give you statistics on crime and related information important to your search.

Before deciding on a neighborhood, it is important to first determine the general area. The suburbs may have lower crime statistics, but may be further from your work. Towns may do have more crime, but may have different characteristics that you see more desirable, such as convenience and social activities.  Do you want schools which are in strolling distance? Do you want to be close to your place of employment? Do you want to be close to buying, restaurants, and different companies?

We at Home Expo Gallery can also help you determine the value of a given community you are considering.  We can investigate the market health of the neighborhood, how it trended in good times and bad. Give us a call now and let us know how we can help you find your dream home.

How important is the Final Walk-through

Tuesday, September 10th, 2013

Buying a home can be an exciting experience. With all the excitement sometimes it is easy to overlook things that can make a big difference in the overall outcome of home buying transaction. The final walk-through is one of the critical aspects when buying a home. Knowing what to do at your final walk-through can help ensure a smooth transaction and gives you a peace of mind.

What is the final walk-through?

The final walk-through gives home buyers an opportunity to inspect a property before closing. It is one of the last parts of the closing process.  This is to insure that the house you are buying is in good condition as it should be, has not been damaged or neglected since you signed the contract, and that all the provisions of the contract have been met.

The final walk-through is your final chance to raise any issues with the house before you proceed with the closing.  Some people just assume that the home is the way it should be, and they choose not to do a final walk-through so that they can save time. This can be a major mistake.  If you skip a final walk-through and then proceed with closing, there might not be anything you can do after the closing if there is something wrong with the house when you take possession.

Because the final walk-through is so important, there are things you need to make sure you do to make sure that you are getting the maximum benefit from your walk-through.

Since your walk-through is the last thing you will do before signing paperwork and taking possession of your new home, you want to make sure that you do it as close to your closing time as possible.   Why?  Because once you leave that house, you are essentially agreeing to accept the home in the condition in which you saw it at the walk-through.

Unexpected things are not usually good during closings, so try to eliminate that possibility as much as possible by doing the final walk-through as close to your closing time as possible.

If personal property is included, make sure that it has been left in the house, and that it has been left in the condition specified in the contract. Could be appliances, shelving, and window dressings or just about anything. Also, you’ll want to check for any personal property that the sellers might have accidentally left behind.  If you find anything that isn’t supposed to be in the house, let us know.  Seller might have forgotten, they will appreciate you letting them know.

If you conducted a home inspection as part of the transaction, you’ll want to make sure that any items that you negotiated during the home inspection were addressed in the specified manner. Go through each item one by one.  If something seems wrong, advice your agent and address the situation while you are at the house.  That gives you the best chance of getting things resolved without causing a delay in closing.

“A thorough final walk-through provides peace of mind”.

At Home Expo Gallery we will help ensure that you conduct a thorough final walk-through and help make the closing transaction a much more enjoyable and less stressful buying process. Call us now and we will answer all your questions.

Are You In Love With Two Homes?

Thursday, September 5th, 2013

As you discover yourself greatly submerged in house-hunting, you might experience a scenario where you’re divided between two houses. Probably you and your spouse each have a favorite, or simply you equally like two properties similarly – or believe you do.

Deciding which home to write an offer on shouldn’t be taken lightly. Your choice must be made rationally and should not be led by emotion.

Of course you may very well not have the true luxury of using your own time on determining which home you’d prefer to pursue. Perhaps you are in a market where properties in your budget range get snatched up as rapidly as each goes in the market place, possibly even getting numerous offers.

However in some circumstances you might find yourself split between two houses. Often the simplest action to take is to get a pen to jut down and outline your family’s needs, your budget, and the good qualities and drawbacks of every house.

Things to consider when choosing your ultimate dream home:

Neighborhood – If the two final competitors come in different neighborhoods, consider the pros and cons. When you have young ones, perhaps being close to a park is essential. How far are the groceries, eateries, church, and etc.? What will your commute be like?

Schools – If you have kids try considering the best schools in your area. If you don’t, the one with better schools will add to your resale value.

Crime – Head to the nearby authorities and inquire about offences in your particular neighborhood. You could find robbery or vandalism is more widespread in one area and not the other.

As you cautiously weigh most of the factors, it may become apparent that certain home is more engaging compared to the other. Or, you might find the houses are still similarly appealing. If that’s the case, make sure you look at the houses significantly more than once. You could detect something you didn’t the very first time around – something that could sway you one way or the other.

If you still have difficulty choosing, work with your Realtor to explore the options.  Our agents can help you calmly evaluate different properties and include factors you may not have considered.

At Home Expo Gallery, we will provide you with all the things you need to consider for you to be able to buy your dream home. Give us a call now and let us help you find the perfect house for you and your family.

Industry pushes to improve visibility of home energy efficiency improvements

Wednesday, September 4th, 2013

Everybody in real-estate knows the rap against “green” and energy efficiency improvements to existing homes: Owners can invest a fortune and save on utility bills, but when they’re going to market they often find it’s tough to obtain paybacks through higher prices on the homes.

Complicating the specific situation is the truth that many multiple listing services do not have “green fields” inside their listing formats to highlight energy efficiency improvements, so buyers that are potentially enthusiastic about high-performance homes can’t search for them effectively.

Builders routinely market new homes carrying Energy Star, HERS, LEED and National Green Building Standard certifications, and buyers in the United States recognize these as credible performance indicators. But purchasers of existing homes don’t have any standardized guidance.

This goes against the National Association of Realtors’ annual survey of homebuyers and sellers which consistently discovered that buyers worry about energy efficiency. The 2012 survey, as an example, reported that 87 percent of buyers surveyed said a home’s heating and cooling costs were “important” or “very important” in their mind, whatever the age of the house.

Energy efficient lighting and appliances are also viewed as major pluses, with roughly 70 percent of purchasers ranking them important or very important.

At Home Expo Gallery we will help you with all your questions, and help you identify the amount of green a house has, other than the paint. Give us a call now and let us know how we can help you.


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Adriana West (Keller Williams First Atlanta): Real Estate Agent in Roswell, GA
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