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Inventory Down, Prices Up: It’s Not That Simple

Homes sales in January fell by 10.6% in the Charlotte metropolitan area over January 2015 according to the Charlotte Area Realtors Association. The main reason for the drop is the lack of inventory. Inventory of available homes in Mecklenburg county is at a 1.9 month supply, compared to a 3 month supply in January 2015. A stable market is considered to be a 6 month supply, anything below that is considered to be a seller’s market. The median sales price increase of 7.8% over last year support this fact.

But what does mean for the average home seller? Will buyers come beating down the doors once the home is on the market? Some home sellers seem to think so, and are pricing their homes high with little preparation or upgrades. These homes are generally sitting on the market. While inventory may be low, many buyers are willing to wait for the right house at the right price.

From our Sold listing in Ardrey. Photo courtesy of Cal Mitchner.

From our Sold listing in Ardrey. Photo courtesy of Cal Mitchner.

Homes in high demand areas that are properly prepped for sale are going under contract very quickly, sometimes with multiple offers. What do we mean by properly prepped? Clean, neutral paint, free of clutter, including rooms with too much furniture, and updating light fixtures. These are things that won’t break the bank but make your home attractive to buyers.

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Trouble Clearing the Clutter? Ideas From the Experts

When Kristen and I consult with clients on preparing their home to go on the market, a big focus is usually on removing the clutter. Almost everyone has some type of clutter in their homes, whether it’s as simple as a pile of magazines to closets bursting with clothes. Many of us know we need to do something, but the task is overwhelming. I might spend a token hour here or there going though my possessions, but soon lose my inspiration. I found this great article on Houzz that discusses different philosophies or methods for clearing clutter.

I particularly like this idea from Mindy Starns Clark, author of The House That Cleans Itself, says: “My technique for clearing clutter is based on the understanding that every possession you own, from the tiniest button to the biggest couch, consumes a piece of your time — time to clean it, store it, move it, fix it, lose it, find it, wash it, wipe it and on and on. The more things we own, the more time we sacrifice to that ownership. Thus, when decluttering, ask yourself, ‘Is this item worth the total time investment that owning it requires?’ If it is, then keep it. If it isn’t, then get rid of it. It’s that simple — unless the item also carries an emotional component.” Check out the full article here:

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A New Year’s Resolution for Your Home

It’s a new year and the gyms are packed. Everyone is wanting to get in shape for the spring or just trying to have a healthier lifestyle. That’s great, but why not resolve to get your house in shape as well? One way to do that is to look at your home as if you were a buyer seeing it for the first time. Does your home have curb appeal or is your landscaping overgrown? Is there any rotten wood or does your home need a fresh coat of paint?

What is the first impression when you walk through the front door? Have you changed the décor since you originally moved in? Are your kitchen appliances twenty years old? Do you have too much furniture? Do you have organized closets and decent storage? Be honest and make a list of what you fix or update if you were planning to sell your home and do some of the work now.

For example, I love my house, but a prospective buyer would most likely be disappointed at the relatively small closets and lack of storage. I know that I need to make effective use of every inch of space. My plan for this year is to have closet organizers installed and add shelving in some dead space in one of the bathrooms. I can help free myself from clutter and I will have turned a negative into a positive when I sell my house in the future.

Go online and check out some of the sold homes in your neighborhood. How do they compare to yours? Do they have granite in the baths while you still have the standard white cultured marble? Do they have newer appliances? Do they have a lot of hardwood flooring or new carpet? How is the landscaping?

Almost every seller wants top dollar for their home. They often have to make changes in order to get that price. Many of the changes made are ones that the seller thought about in the past but never got around to making. Why not enjoy the updates now? Ones that will stand the test of time? If you are unsure of what updates make sense then contact us and we will be happy to offer our opinion.

One of our listing photos courtesy of Cal Mitchner of Charlotte Virtual Home Tours

One of our listing photos courtesy of Cal Mitchner of Charlotte Virtual Home Tours

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Keep Your Keepsakes From Taking Over Your House

Hang children's artwork on the wall.

Hang children’s artwork on the wall.

Many times we go on listing appointments and make suggestions for our sellers to get their home prepared to go on the market. By far the number one suggestion we have it to eliminate clutter. This is quite often the most difficult part for the seller. They are overwhelmed with how to start and reluctant to begin the process. Here is some great advice on the subject courtesy of Laura Gaskill from Houzz.

Remodeling, decorating, and more ∨

Hire residential landscape architects to help with all aspects of landscape design, from selecting or designing outside patio furniture, to siting a detached garage or pergola.
Collect and share photos of tiling, bath vanities, designer shower curtains and washroom mirrors to create your perfect home decorating style.

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Falling in Love All Over Again

We love seeing the excitement of our buyers as they plan how they are going to live in their new home. Maybe they are putting in new flooring, painting, getting new furniture- it’s a fun process. Many of us remember that feeling of excitement, then life intrudes and before we know it we have too much clutter, too much furniture, perhaps the kids have left the nest, or elderly parents are moving in. Take some time to evaluate your house and what you’d like to change. Renew that romance with your home. Vanessa Brunner of Houzz has written a great blog on the subject. And if you haven’t heard of Houzz, you should check it out- it’s a great website with lots of helpful information and wonderful ideas. Enjoy!

Kitchen ideas, bathroom ideas, and more ∨

Ideas for your living spaces, lights and landscape design.
Find drapes and plantation shutters for french doors, or kitchen curtains and drapery rods for your kitchen windows.

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Living with Less

I found a great blog post on Houzz written by Alison Hodgson which addresses the idea of living with less. When my real estate partner Kristin and I are working in the pre-listing phase helping our clients stage their homes, we will always recommend removing furniture and accessories. Most of us, myself included, have way too much stuff. If I had to stage my house for sale I’d have to remove at least half the furniture. The giant entertainment center that has become obsolete, the end tables, the lamps, the bookshelves, the old prints, the old books… It’s so difficult to let these things that we once loved – and paid good money for- go. But I am going to follow Alison’s advice. You should too- check out her blog below. And if you haven’t discovered Houzz- it’s a fantastic site, chock full of the latest decorating ideas and advice.


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Making Your House Your Home

The kitchen was nice, but the gray granite made it a little cold.

The kitchen was nice, but the gray granite made it a little cold.

The restful Paladian Blue paint and new light fixture make the dining room light and airy.

The restful Paladian Blue paint and new light fixture make the dining room light and airy.

The inventory of homes is very low here in Charlotte, NC, and many buyers are frustrated in their search for that perfect house. It’s extremely difficult to find a house with the location, floor plan, features, and updates that many buyers are looking for. Generally you aren’t going to find your dream home, but that doesn’t mean you can’t get most of what you want. You just have to look beyond the decor at the bones of the house, the rest can be fixed.

New granite and tile backsplash make a big difference in the kitchen.

New granite and tile back splash make a big difference in the kitchen.

My neighbor, Debby, is a great example. She bought my listing in Ardrey back in September of 2011. The house had great potential and was fine, but nothing special. Debby has transformed an ordinary home into an amazing home! I’ve posted a few photos here in my blog. See the changes for yourself! You can read Debby’s blog about the transformation for yourself here.

The dining room was red before, pretty but a bit overwhelming.

The dining room was red before, pretty but a bit overwhelming.

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It’s All About the Photos

example of poor photography in real estate lstingardrey home after stagingArdrey home in BallantyneEach morning I review the “hot sheets” from my local MLS here in Charlotte. I’m looking for potential homes for my buyer clients and potential competition for my sellers. The first thing I do is click on the pictures. I never cease to be amazed by the photos some agents provide for their listings – unmade beds, food on the counters, poor lighting, the television on , even the photographer caught in the mirror. (And these aren’t foreclosures, just regular listings). This the first impression that the 88% of potential buyers that shop online for homes will see.

Great photos are key- you could argue the most important part of marketing your home. Moving furniture, clearing counters- there are a lot of easy fixes to make a room look great online. Yes, it takes effort, but in this market agents and sellers have to be willing to do their part to get their home sold.

Here are some before and after shots from one of my SOLD listings. Which looks better- the cluttered kitchen or the clean counters? Does the great room look better with the television blocking the window or placed out of view? If you were the seller of this home, which photos would you want your agent to post on the internet? Yes, price, location, and condition of the home are very important- particularly price in this market- but great photos are an absolute essential if you want to draw buyers to your home. When you are interviewing agents to list your home, be sure to check out their listing photos and hire the agent who will make your home shine online.

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Welcome Home

What is more welcoming than a large front porch, beautiful flowers, and a brightly painted front door? There are many new communities in Charlotte that offer the feel of older, walkable neighborhoods, where neighbors hang out on front porches or drop in for a drink. It’s a different lifestyle, definitely not for the antisocial, but if you love being around people you will love this style of neighborhood.

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