Lehmann Kelly Properties: The Right Agent Makes all the Difference

Why Home Sellers in Charlotte will have a Happy New Year!

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The perfect backyard of the perfect home.

I spent the first four days of the new year working with out of town buyers to find their perfect home. We toured over fifty homes in those four days, some were a possibility, but nothing worth putting an offer on. As luck would have it, the day after they left the perfect house came on the market, but multiple offers were made and it sold the first day on the market.

Talk to any buyer’s agent and they all have the same lament: there is nothing worth seeing on the market right now, and anything that is well prepared, well priced, and in a good location will go under contract within the first week, particularly in the popular price ranges. Much of what is left at the moment are the short sales, foreclosures, over-priced,  or stale listings.

If you have been wanting to sell your house, but waiting for prices to recover, now is the time. Inventory is very low, so any listing that is clean, updated, and realistically priced will sell. If your home needs updating or has a less than desirable location such as near the freeway or high tension power lines, it will sell, but you have to be realistic about pricing.

The market is hot right now and it’s a great time to take advantage of this mini seller’s market. Once spring rolls around there will be more listings and thus more competition. If the current market trends hold, 2013 will be a very good year to be in real estate.

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Lehmann Kelly Properties: The Right Agent Makes all the Difference

Why in the World is the DNC in Charlotte?

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Charlotte SkylineFor the past few weeks, many have been wondering how the Democratic National Committee could have picked Charlotte, North Carolina, as their convention site. This week the delegates, media,and all the other visitors will see for themselves all that Charlotte has to offer.

Our center city- known as Uptown by the locals, downtown to most visitors, this area sparkles with shiny new office towers, great performing arts venues, many museums( including the Betchler Museum of Modern Art, Mint Museum and Museum of the New South) and restaurants. The Carolina Panthers play uptown in Bank of America staduim. The NBA Bobcats play in Time Warner arena.

Trees- Charlotte has taken great steps to protect the tree canopy. There are many beautiful tree-lined streets in the neighborhoods surrounding center city Charlotte. These neighborhoods, Eastover, Myers Park, Dilworth, First Ward, Wesley Heights, Southend, Elizabeth, and Plaza Midwood feature many great homes built in the early to mid 20th century. There are many great restaurants and coffee shops within walking distance. Another trendy spot near uptown Charlotte is NoDa. This artsy community has fun shops and places to eat, including Cabo Fish Taco that was featured on the Food Network.

Venture south and you will find the area of Charlotte known as Southpark. The biggest landmark in Southpark is the Southpark mall. It may seem crazy to have a mall as the centerpiece, but Southpark is THE place for shopping in Charlotte. Nordstrom, Neiman Marcus, Belk, Vineyard Vines, Hermes,Lilly Pulitzer, Tiffany &Co, all can be found at Southpark Mall. The mall isn’t the only thing in Southpark, there are many offices and wonderful neighborhoods like Foxcroft, Mountainbrook, and Barclay Downs.

South of Southpark is the Ballantyne area, the towns of Pineville, Matthews, and Mint Hill. Ballantyne is the newest area of south Charlotte. The area is home to the 535 acre Ballantyne Corporate Park, which includes multiple office buildings, a golf course, and the Ballantyne Hotel & Lodge, which is the lodging of choice for the White House staff and the president during his stay here in Charlotte. Like to golf? Live on the course in the Ballantyne Country Club, Providence Country Club, Raintree, Longview or Firethorne neighborhoods. Ballantyne is home to Ardrey Kell High School, the #1 high school in the Charlotte Mecklenburg School system as ranked by Newsweek Magazine.

Want recreation? Aside from the numerous public and privite golf courses and tennis courts, Charlotte boasts many parks and greenways. There are three large lakes nearly, including Lake Norman. A great way to spend an afternoon is at the US National Whitewater Center. You can find all levels of rapids, kayak on the Catawba River, zip-line, hike or do the ropes course.

Charlotte has so many great places to live, things to do, but the best thing about Charlotte is the people! Charlotte offers true Southern hospitality, but also has adopted the many cultures and traditions of all those that have moved here from outside the South. Most of the Charlotte residents aren’t Charlotte natives, but instead of mistrust and dislike, we celebrate our differences and find ways to incorporate them into the New South city of Charlotte.

 

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Lehmann Kelly Properties: The Right Agent Makes all the Difference

It’s All About the Photos

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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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Lehmann Kelly Properties: The Right Agent Makes all the Difference

Moving On…

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Much has been written about how to prepare your home to go on the market, fresh paint, staging, etc. I always give my sellers a “To Do” list and you can find helpful hints on almost every real estate website. But I don’t see much written about an absolute must in selling in this market, and that is the mental preparation.

I love going on a listing appointment with a motivated seller. They have closely followed the market and have a very good idea of the value of their home. They want to price their home competitively and do whatever it takes to sell in this market. Generally the motivated sellers will get an offer- or multiple offers- shortly after the home is listed and will close in 3-4 months at most. So why are so many homes sitting on the market for 6 months, 12 months, 18+ months? Generally it’s because the sellers aren’t ready and motivated to sell their house. They think they are, but in reality, they aren’t ready to move on.

I run into this all the time on listing appointments. Here’s an example of what I am talking about. Last week I met with potential sellers who have outgrown their current home. Their current home was lovely but the bedrooms were small and they really want a more desirable school district as well. They knew what homes in their area were listed for, and expected me to give them a market analysis that showed a similar value for their home. What they didn’t realize- and what many potential sellers fail to realize- is that homes are SELLING for much less than their list price. The sales price per square foot for homes in their neighborhood was a real shock to them. They couldn’t grasp it- they weren’t ready for an honest assessment of what buyers would be willing to pay for their home. They weren’t ready to see their home as a commodity- but in order to sell your home you have to look at it through a buyers eyes and divorce yourself from the emotion.

So how does a seller get mentally prepared to move on? Know your neighborhood. Stop by open houses- agents love to meet the neighbors. Check out areas where you are thinking of moving- if you don’t want to hire an agent at this point then call the listing agent and ask them to show the property to you. Most listing agents are happy to do- just remember that they represent the seller and don’t tell them anything you don’t want the seller to know. Sign up to receive market data from a Realtor® that you respect.

During this process you may find a house that you love, and are ready to do whatever it takes to sell your current home. You will be in a buyer mindset- and be better able to assess your home as a potential buyer would. You will see what has to be done to your home to be competitive in this market and you will have a realistic idea about what your home is worth. Now you are ready to move out and move on to your new life in your new home.

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Lehmann Kelly Properties: The Right Agent Makes all the Difference

What’s So Special About Ardrey?

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Drive down Wade Ardrey Road in the Ballantyne area of south Charlotte and you will come upon the Ardrey neighborhood on what used to be the Ardrey family farm. Ardrey is not your typical Charlotte neighborhood with brick homes and back yards. Instead, Ardrey looks and lives like a small quaint southern town. Many of the home styles and colors remind one of Charleston, SC. Each home is unique in color and detail.

So it looks pretty, why live there? One big reason- the front porches. Every Ardrey home has a covered front porch. They vary in size, but they are all big enough to sit out and enjoy a cool drink on a warm day. Take a stroll on a nice summer evening and you will hear laughter and conversation as your neighbors relax at the end of the day. Need more reasons? How about the 53 acres of open space, the many neighborhood parks, the pool, the clubhouse and workout room, the friendly people.

Want more specifics? All Ardrey homes feature an open floor plan, master down, hardwoods on the main floor, tile baths, heavy moldings throughout the downstairs, front porches and screened porches. Homes are energy efficient and feature Hardiplank (cement board) siding and other durable products to keep maintenance to a minimum. Many Ardrey homes are alley homes, while some do have a small backyard.

See for yourself why Ardrey is so special. Cruise through the neighborhood and see why so many love their Ardrey neighborhood!

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Lehmann Kelly Properties: The Right Agent Makes all the Difference

What Lies Ahead

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I recently attended a presentation by Dr. Lawrence Yun, Chief Economist and Senior VP of Research for the National Association of Realtors. Naturally, everyone in the room wanted to know when the real estate market and the economy in general would should significant improvement.

Dr. Yun echoed what I have been hearing from other national experts, that we are at the bottom or slightly past the bottom, and trending upward. In Charlotte sales are up one percent over last year and we have two straight years of slight increases. Despite all the bad economic news in the media, there has been some job creation, new jobless claims are lower, and there is some recovery in the stock market- all things that should improve sluggish home sales.

What could impede the housing recovery? Proposed legislation that would require a 20% down payment on non- government backed loans, the possible reduction or elimination of the mortgage interest deduction, the lowering of conforming loan limits- all of these could potentially negatively impact the housing recovery.

The majority of experts, including Dr. Yun, predict a housing shortage in the next 2-3 years. Existing home sales in Charlotte are at 1997-98 levels and housing starts are levels not seen since the 1980’s- when interest rates were in double digits. The rise in population, combined with ever increasing rental prices, will eventually trigger higher demand for housing and it will take a few years to catch up with that demand. That should trigger a return to equilibrium or even a seller’s market.

If you are considering a move in the next year or two, keep an eye on market trends. With the historically low interest rates and home prices at pre-boom levels, it is a great time to buy. If you are thinking of down-sizing or moving up it might be in your best interest to sell now at a lower price but make it up on your new home and lower interest payments.

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Lehmann Kelly Properties: The Right Agent Makes all the Difference

Welcome Home

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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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