Larry is just keeping all the contracts on track and waiting on one more offer to come in.

Up early talking to buyers and getting contracts and listings ready to turn in.

Working late getting ready for a closing and working on a marketing plan for a new construction community

556 Lindley Road For Sale, Greensboro NC Real Estate

556 Lindley Road For Sale, Greensboro NC Real Estate

Working way too late. What the heck the sun will be up soon anyway.

Just typing up new listings and contracts!!

I am typing up listing agreements and just blogging away.

THE PRICE IS RIGHT

Hello all, Ok I am going to pose a question. How to sell a home in a down market? Now granted this is an isolated incident but, one I feel I will repeat often. I just had a nice little townhome listed. After speaking with the owner we agreed he did not want to sit on it. After pulling the comps we came up with a price that was 3% below market value. Then we added some incentives of some closing costs and a home warranty. Now we are sitting back and watching the excitement. Face it folks we know it is a buyers market right now. So we know there are buyers out there. We have had six different buyers come through. We have two more appointments on the books and one offer already on the table. I have been told there are more coming. So let's look at the results of The Price is Right. Of course one thing is nice I used a professional photographer for the the pic's. The result were excellent shots with a wide angle lens and yes the rooms looked larger, but in the case of one buyer they commented on the size of pictures in relation to the actual rooms. Guess what they are also considering putting in an offer also. So it worked we got them in the door.

Aggressive Selling

I have been approached by some clients recently about selling their homes in a "Buyers Market". The one thing that we have come to find is that if your motivation to sell your present home is their then the home will be priced right to begin with. What I see the most is homes that are overpriced and just sit on the market. These homeowners were advised by their brokers of what the present market value was on their home. Now the important part: if you really want to sell that home price your home 1 to 2% under the market value. With some basic math you can see that if you are trying to sell a home that you have already moved out of and the carrying costs (mortgage, utilities, and taxes) far outweigh the 1 to 2% price difference! Not to mention that if you have had your home on the market for over ninty days then now it is "shop worn". In other words agents and clients are use to seeing it and ignore the listing or think you are desperate if they see a "price change" and then you will get low ball offers and no seriously good offers. Every piece of property I have sold I have priced at just below market value and been rewarded with the "quick sale" of all of them. Be realistic or be prepared to hold onto the property for a longer then neccasary time.

Questions on Foreclosures

Recently I have received a number of inquiries about foreclosures and what they mean in the local market. I have repeatedly told everyone that while yes the percentage of foreclosures are up the overall real estate market in our area of North Carolina is doing well. Looking at the statistics available from our MLS (multiple listing service) the triad area has actually had an increase in the average sales price and a decrease in the days on market. Basically this is saying that the area is continuing on a steady rise in value. The combination of the new incoming industry and the lack of any kind of "real estate bubble" has made the Triad an attractive area for families and businesses.

Movin on UP!

Well the media thinks that the real estate market is in the tank. The only problem with that statement is that in the Greensboro Triad area is not experiencing the same downturn as in other parts of the country. According to the Triad’s multiple listing service data the average sale price for homes in this area has actually gone up in the last year with no significant change in days on market (days on market being how many days a home has been listed for sale). A recent New York Times article quotes Douglas Fenichel of Hovnanian Homes as stating “that when a home is priced properly, people will buy,” showing that nothing is as it seems. Basically it is great time for people to be moving up in home size and buying a house anywhere from 20 to 30 or even 40 percent larger than their present home. The thought process is that you will actually gain more on the purchase of your new home which far outweighs any loss that you may incur on the sale of your present home. I personally have spoken with numerous individuals that are doing just that moving up into a larger home. At an open house today I met with a young husband and wife presently selling their home and looking to buy a larger home in an upscale neighborhood. To summarize, we find that many savvy first time homeowners are recognizing that this is the perfect time to sell their home even at a small discount so as to be able to buy a larger home at a greater discount