Posts with tag 'Real estate market'

Pricing a home to sell is far from an exact science. Figuring out the sweet spot that will get a seller a good price in the shortest amount of time possible takes experience and market expertise.

But even with lots of experience in the local market, every agent has a property from time to time that doesn't drum up much interest early in the game. When that happens, it's time to re-evaluate the listing, including its price. After all, price is one of the biggest -- if not THE biggest -- factor on a buyer's mind.

So let's say a listing has been on the market for 30 days. For the sake of argument, let's assume the property is in good shape -- moderately updated, good floor plan, well-located, no significant maintenance issues, no over-personalization that's turning people off. The market is relatively balanced, with strong inventory and qualified buyers.

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I love my job because it's different every day. One day, I might be working with a family who is relocating to Roanoke, and I get the opportunity to show them my hometown. The next day, it might be empty-nesters who are looking to downsize into their next dream home.

I also work a lot with real estate investors. These folks buy homes that are in poor condition, often have been foreclosed on, and are in the hands of the bank or a foreclosure company. After the purchase, the investors rehab the house -- doing repairs and adding upgrades that get the home back in liveable condition -- and resell it, hopefully at a profit. This is also called "flipping."

What I love about rehabbed homes is that they often present super opportunities to buyers who otherwise wouldn't be able to afford a home with all the upgrades found in a rehab: A...

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When you're deciding how much home you can afford, don't forget to take real estate taxes into account. Often, your taxes will be rolled into your monthly payment along with your mortgage principal and interest, and your homeowners insurance premiums.

Real estate tax rates vary widely across the greater Roanoke Valley, but that's not unusual in a region of our size. Taxes are typically based on the value of your property -- including your home and the land it sits on -- and are assessed by the municipality where you live.

It's important to remember that your assessed value is not the same as an appraisal. The assessed value of your home is calculated solely for the purpose of taxes, while appraisals are used to determine the market value of a property. So if you're considering selling your home and want a ballpark of what your home is worth, an asse...

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Outdoor projects go a long way to adding protection from the elements and value to your home. Done right, they also add a lot in the way of curb appeal. Americans spent more than $326 billion on remodeling projects in 2015, but still, it's hard to know which improvements will appeal the most to buyers and add the most value when it's time to sell.

To get some guidance, the National Association of Realtors asked Realtors to rank home remodeling projects by appeal to buyers for the 2015 Remodeling Impact Report. I'm sharing the exterior projects that will get your home the most attention. And in every case, the exterior projects that Realtors say are most appealing to buyers are the ones that add the most value to your home.

Give these projects some consideration when deciding how to spend your home-improvement dollars, and 

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To say that the internet has changed the way buyers look for homes is an understatement. Visit nearly any Realtor's website in the Roanoke Valley -- or any market -- and you'll find not only their own listings, but the entire market's inventory of listings just waiting to be searched.

So it was no surprise when the National Association of Realtors reported in its 2016 Home Buyers and Sellers Generational Trends study that searching online for homes increased among all age groups in 2015. In fact, for every age group except homebuyers aged 70-90, looking at online listings is the first step they took in the homebuying process. And 65 percent of all buyers walked through at least one home as a result of searching online.

So what does this tell buyers and sellers? For buyers, the best sources of informatio...

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