TOP 5 Reasons Your Home Expired On The Market

This top 5 list will hopefully help those sellers out there whose home has expired on the market.  An "expired listing" is a home whose listing agreement has come to an end and the home is no longer being marketed for sale.

1.  Overpriced?
Sad, but true.  80% of marketing is pricing effectively.  Market price doesn't have any correlation to how much a person actually paid for their house a few years ago.  Ideally, market values go up and homeowners enjoy increased equity, sometimes though, that's just not the case!  Buying and Selling houses is the same as any other market.  For instance, if a gallon of milk cost 4.59 at Wal-Mart, and 2.39 at Food Lion, you'd probably buy your milk at Food Lion.  The same goes for pricing homes- you have to be priced in the market to be considered.

2.  Who was your REALTOR®?
Was your REALTOR® market savvy?  Did they understand the market trends?  Were they internet savvy?  Use social media?  Most homebuyers (92%, according to National Association of REALTORS®) begin their home search online.  So internet presence is a big deal!

3.  Competition?
What was your competition?  What was the speed of the market?  Did your REALTOR® share an absorption report with you?  An absorption report is a great tool to determine the level of competition and the tempo of the market.  This is helpful so that you know how to price your home and when to put it on the market.

4.  Showings
How available was your home for showings?  Did you decline or try to reschedule showings?  When a showing is declined or rescheduled, it almost never works out in the sellers' favor.  How did your home look when it was shown?  Was it clean, neat, decluttered and easy to show?  That's a key to selling your house.

5.  Feedback
From the showings you had, what was the feedback?  Did your REALTOR® discuss the feedback with you and suggest improvements to make it more appealing?  Or, did they negotiate with the buyer's agent to change the home to increase the chance of an offer?

It may be some, or all of these factors.  And sometimes, even the best homes don't sell the first time they're on the market.  I specialize in getting homes sold when they didn't sell before.  If you'd like a free consultation, click here, or give me a call!  910.545.0450.

I'd be happy to discuss with you how to sell your home and help you get a plan in place to get it SOLD.  Don't let your home be victim to any of these top 5 and become expired.  Let's get it SOLD.

What Sellers in Jacksonville, NC NEED to Know!

The current market conditions in Jacksonville, NC have fluctuated from what they have been, leaving sellers with a big question mark over their head.  This is a list of what sellers need to know!

1. Your Goal
First, figure out what your goal is.  Do you want to break even?  Make money?  Just get out from under it?  Move up?  Move down?
Understanding this will help put things in perspective and from there we can develop a plan to meet your goal!

2.  What the current market conditions are
In the past few years, new construction has dominated and saturated the market.  That's just not the case anymore, but it's easy to blame the way things are, on the way things have always been.  That's why you need a recent market analysis.  Sellers also need to see and understand the current market trends.
3.  What your competition is
Long gone are the days where you can base your selling price on what you paid for your house or what your neighbor sold their house for last month.  It might give you a ballpark, but it won't give you any clue as to what buyers are looking, or where.  Sellers need a report like this to help understand how much buyer activity has been in the area and in which price range.
4.  How long it will take

To develop a realistic plan, sellers need to know what the absorption rate is.  "Absorption rate" is a fancy term that means how long it will take something to sell based on how quickly things have been selling.  I use this to help sellers understand how to price, how aggressive to be, and how much competition there is.
5.  The process
No one is born with the knowledge of buying or selling a house.  That's why I'm here.  Sellers need to know the process from beginning to end with updated communication and conditions so that they can make the most informed decisions to get their house sold.

As a seller, what else do you think you need to know to sell your home in the Jacksonville, NC area?  Want an updated market analysis to understand how it effects your home's value?  Click here!  I love a good reason to get out and meet more sellers in the area and help them understand the current market in Jacksonville, NC.

Need to Sell Your Home? The Price Is Key!

Meeting With Realtors
So you’ve decided to sell your home and have a fairly good idea of what you think it is worth.  Being a sensible home seller, you schedule appointments with three local listing agents who’ve been hanging stuff on your front doorknob for years.  Each Realtor comes prepared with a "Competitive Market Analysis" on fancy paper and they each recommend a specific sales price.
Amazingly, a couple of the Realtors have come up with prices that are lower than you expected.  Although they back up their recommendations with recent sales data of similar homes, you remain convinced your house is worth more.
When you interview the third agent’s figures, they are much more in line with your own anticipated value, or maybe even higher.  Suddenly, you are a happy and excited home seller, already counting the money.

A Sales Practice Called "Buying a Listing"
If you’re like many people, you pick Realtor number three.  This is an agent who seems willing to listen to your input and work with you.  This is an agent that cares about putting the most money in your pocket.  This is an agent that is willing to start out at your price and if you need to drop the price later, you can do that easily, right?
After all, everyone else does it!
The truth is that you may have just met an agent engaging in a questionable sales practice called "buying a listing."  He "bought" the listing by suggesting you might be able to get a higher sales price than the other agents recommended.  Most likely, he is quite doubtful that your home will actually sell at that price.  The intention from the beginning is to eventually talk you into lowering the price.
Why do some agents "buy" listings this way?
There are basically two reasons.  A well-meaning and hard working agent can feel pressure from a homeowner who has an inflated perception of his home’s value.  On the other hand, there are some agents who engage in this sales practice routinely.
 

What Happens Behind the Scenes
If you start out with too high a price on your home, you may have just added to your stress level -- and selling a home is stressful enough.  There will be a lot of "behind the scenes" action taking place that you don’t know about.
Contrary to popular opinion, the listing agent does not usually attempt to sell your home directly to a homebuyer.  That would be inefficient.
Listing agents market and promote your home to the hordes of other local agents who do work with homebuyers, dramatically increasing your personal sales force.  During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients.
If the price is right.
If you and your agent have overpriced, fewer agents will preview your home.  After all, they are Realtors, and it is their job to know local market conditions and home values.  If your house is dramatically above market, why waste time?  Their time is better spent previewing homes that are priced realistically.  Additionally, Relators get paid when a house sells.  Everyone wants the house to sell for the most amount of money, (well except for the buyer,) but if it doesn't sell, the Realtor who overpriced the home has only wasted everyones time.
 

Dropping Your Price...Too Late

If you start out with a high sales price, then drop it later -- your house is "old news."  You will never be able to recapture that flurry of initial activity you would have had with a realistic price.  Your house could take longer to sell.
Even if you do successfully sell at an above market price to an uninformed buyer, your buyer will need a mortgage.  The mortgage lender requires an appraisal.  If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise.  Your deal falls apart.  Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen.
Your house could go "back on the market."
Once your home has fallen out of escrow or sits on the market awhile, it is harder to get a good offer.  Potential buyers will think you might be getting desperate, so they will make lower offers.  By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.

Interested in selling your home?  Or would you just like to know what's going on in your neighborhood?  Call Amanda for a complimentary "Competitive Market Analysis" and to discuss your options!  910.545.0450  www.AmandaParmerSellsHomes.com

6 Reasons To Reduce Your Home Price

Of course you want to get the most money for your home when you sell it, but consider these six reasons on why you should improve your price:
1. You're getting little to no showings.  Buyers are typically looking first by price, then by features.  Make your first impression the best!
2.  You're getting showings, but no offers.  Look at your competition- are there other homes that have similar features and amenities for the same price?  It's all about the bang for your buck!
3.  Your home's been on the market longer than similar homes.  This is what we tend to call "shop worn."  When a home sits on the market for 30, 45 or even 60 days, buyers are waiting for the price to drop to "get a good deal."
4.  You have a deadline.  It's not always home much money you need from the sale that determines the price of the home, it's how much money the buyer is willing to spend.  If you have a deadline, your better option is to price it aggressively, instead of holding onto the property- and the mortgage payment and carrying costs.
5.  You can't make upgrades.  Maybe you're flat broke and absolutely cannot afford fresh paint on the walls, carpet cleaning, or adding curb appeal.  But the feedback you're getting is that your home isn't as well-appointed as similarly priced homes.  That means you're not competitive.  It's time to accept that buyers expect to pay less for a home that doesn't show as well as others.
6.  The competition has changed.  If weeks go by with no offers, continue to check out the competition.  What new listings have hit the market?  Are the other listings dropping their prices or offering incentives?  Talk to your Realtor for the best options!

Please contact me if you're considering buying or selling a home!  I would love to help, and I'm never too busy for any of your referrals!

How To NOT Sell A Home? Bad Listing Photos!

Atrocious listing photos are an excellent way to insure no one will look at your home, let alone buy it!  If you've spent any time at all on the internet shopping for homes, I'm sure you've come across some pictures of homes and thought, "What the heck?"

I have!  This blog is in no way meant to be offensive, but merely to shed some light on the world of Bad Listing Photos and encourage sellers to think about how they are presenting their home to the world, via the internet.

You can have this home, creepy doll included!!

Multi-purpose kitchen- do your dishes and your laundry!

Either this ghost means business, or the home has a ventilation problem...

Wait....are we in the kitchen or the garden or...wait...what's going on here?

Always nice to see a dirty toilet.

They're all looking at you.  Don't you want to buy this house?

Yep.  This screams, "Fabulous Home!"  Not really.

Couch potato included!

"I'm too lazy to get out of the car to take a picture, but you can bet I'll work hard to sell your house," said no successful Realtor ever.

So, the alternate potty seat is on the trash can, why?  Just put your stuff away!

"I'm such a fabulous Realtor, I'm going to be in the picture too!"

"Fireman pole and party included in the purchase of this home!"  Liability insurance may vary.

Have you heard the saying, "Can't see the forest for the trees?"  This is kinda like that.  Can't see the kitchen for the clutter.

If you want to sell your home, take the time to put your home's "best foot forward!"  There are enough challenges as it is when your home is on the market, don't create more with bad listing photos!  Your Realtor should be providing professional photos to best market your home, otherwise they're not working in your best interests.  If you would like a referral for a professional photographer in the Jacksonville, North Carolina area, please contact me.  

I would love to help you with all of your real estate needs!  I'm never too busy for your referrals!

Staging Tactics for Home Sellers

Today, homes don't simply sell themselves.  The days of putting a sign in the yard and getting a full price offer are long gone.  To win the battle for buyer attention and the best offers, you have to play an active role in marketing your home.  Along with pricing your home accurately and competitively, you want it to present as appealing as possible!  After all, you wouldn't buy a car with dents and dirt on it, why would you try to peddle a home that it less than stellar looking?  It's true that first impressions are the most important.  You want your home to leave a lasting impression of warmth and comfort, as well as affordability to the buyer.  Here are some tips to help you do that!

•Check out the Competition!
Go to competing homes' open houses!  See how they are decorated/cleaned/staged and what features they have to offer.  Not the property condition and move-in readiness in comparison to the price.

•Shoot Sample Photos
Before you show your home to the public, take a look at it from their view.  Do you notice your family photos, or the toy box in the corner, or your collection of sewing thimbles on the wall?  Those are all items that makes it your home.  You may consider removing them to "depersonalize" the room and give the buyer the opportunity to imagine the space with their own items there.

•Eliminate the Excess
Simply put, if you're not using and you have to dust around it, pack it up or get rid of it.  These items are considered clutter and you will be doing yourself a favor to get a jump start on packing it up.

•Clear off Counter Space
When it comes to the tops of your tables and counters, less is more.  Clear off your counter spaces except for the occasional decorative or functional pieces (clocks or vases or flowers).  Remember, your goal is to help buyers see themselves in a home and they can't do that with your stuff in the way.

•Clean Inside and Out
Everyone thinks they know what "clean" means when it comes to their own home.  Here's where an agent or a professional stager can be super helpful.  Invite them in to get an outsiders opinion on how to make the nooks and crannies you've forgotten about glisten.  If a buyer can see cluttered closets, dirty baseboards, or dusty ceiling fans, they can start looking for other areas that will be "not up to par."  The best selling homes tend to have garages, basements, side yards and other outdoor spaces that are just as immaculate as their kitchens, bathrooms and master bedrooms.

•Dive in to the Trim and Details Early
It's tempting, when staging, to do the big jobs -painting walls, polishing floors, moving furniture - and to run out of steam and cash before the little details get handled.  Some of the least expensive home staging projects can carry the most buyer-impressing payload.  Here are a few details to tackle to make your listing standout:
   Clean or paint baseboards and other trim.
   Ensure locks, doors, and drawers work properly.
   Paint or replace outdoor accents like house numbers or mailboxes.

When all else fails, take your agent with you.  Arm her with a packet of post-it notes and give them free rein to stick one on anything that should be removed before showing the home.  Then get that stuff out of there!  Your Realtor should be able to recommend a staging professional or cleaning company to help you, should you need it.

If you need any further information, or have questions about selling your home, please contact me!  I would love to help with all of your real estate needs, and I'm never too busy for any of your referrals!