Jeff White\’s Blog

For all of the Triad residents who long for something cool to do on a Sunday evening- MUSEP is back! MUSEP is the acronym for Music for a Sunday Evening in the Park. each Sunday from 6-8pm, the City has a free concert in one of our parks. Its a great time to come out, connect with friends, hear great music, picnic and play in the park!

see my schedule under about my area and area links!

1. Compromised living in the home.   Decide early on in this process that you want cash for your home “ the most possible “ not comfort!

o             Wrap your head around the fact that you may have to compromise your living for a brief time in order to get your home sold!   Your home is a commodity, no longer your home.

o             You will have to pick up daily, run the vacuum and put your clothes away.   It might be a sacrifice for you, but this to will end¦and it will end quicker if you do what™s outlined in this handout.

o             Finger space hangers to create a spacious look in your closets.   You may feel like you have little left in your closet, but remember you are actually packing for your new home!

1. Creatively Stage Your Home:   In a buyers market, a staged home stands out from the rest, so be sure to have your home ready to go on the market before you allow visitors.  

o             Don™t be afraid to spend money on staging items!   Flower arrangements, wall décor, new towels, shower curtains, bath mats, etc. all seem expensive and a waste, but if it gets your home sold, they did the job!   Additionally, all these items can be taken with you to your new home.  

o             Consider borrowing items for friends that will give you the look you need at a fraction of the cost.

o             Get ready to see your bottom line boosted and offers rolling in if you do what has been suggested.

Five C™s of staging- part 3

1. Tips for Staging Your Home to Receive Multiple Offers

1. Clutter Free!   Clutter eats up equity¦so get rid of as much as possible.   Cluttered homes appear smaller, look darker and tend to smell because of excess dust.   Most buyers will also offer less because they feel it will take some work to get it as they wish.   Homes that are clutter free appear to be low maintenance and are on the market for less time.

o             Pack up and remove all of your collections!   Hummels, spoons, shot glasses, tea cups, etc.   Your home is no longer your home but a commodity and by removing your collections you are showcasing your commodity.   o             Find storage at an off site location.   Don™t junk up your attic/storage areas with all that you have removed to make your home feel spacious because potential buyers will look at storage areas too!   They need to see these areas clear as well so they feel they have adequate storage space.o             Think open space!   Consider storing excess furniture that crowds a room or if you have a small room, store several pieces of furniture to create the idea of space.   Remember less is more!   The 1/4 to ½ rule works too:   store ¼ of all your furniture and remove ½ of the stuff in your closets! o             Countertops in kitchen and baths should be clear with nothing on them if possible because this gives the feel of space.    o             Put away all electrical cords and appliances.o             Don™t forget the ½ rule:   Remove ½ of closet and shelf stuff and reorganize while you are at it!o             Remove all refrigerator art.   Magnets, restaurant menus, art, photos, etc.   Create a clean tidy environment that exudes potential for new owners.   Don™t distract the buyer, let them see the home not your stuff!o             Open the blinds and curtains!   Let in as much natural light as possible and leave on lights in rooms where they seem dark.   Make sure all your bulbs have been replaced with the maximum wattage bulb possible.   You may also need to trim back your hedges that are overgrown and blocking the views from your windows.o             Put coats and shoes in a closet, keys in your purse and miscellaneous mail in a file cabinet.  

I just love spring time! This area of the country springs to life with flowers, leaves and greenery that is just wonderful!

I also love that our market heats up as well! Yea!! But one thing I have noticed is the regardless of the market, there are homes that still sell.. The question then of course, is why?

Well, as I show homes it becomes obvious. One of the benefits of going into so many homes on the market is that you can see what is selling and what is not. Location of course plays a huge factor- you can have a lovely home in a not so lovely neighborhood and it may take longer to sell than another…however, there is another major reason why one home sells and another doesn’t. That reason is staging.

Staging a home is simply presenting the home, which is not a product, in the best light possible. It requires that the owner take a very critical eye to their home and no longer think of it as the place where they live, but its now a product to sell.

Below is an excerpt from something that a friend of mine, Tonya Hayes with Keller Williams in Columbia SC sent to me. She wrote this for her clients and it is   a culmination of the staging wisdom and instruction to date. I found it so useful that i would like for whoever reads this to read it as she wrote it. Tonya can also be contacted at MyColumbiaHomesforsale.com. Her emnal is tonyahayes@kw.com.

I will post this in two in three posts over the next few days. Here is the first section:

Tips for Staging Your Home to Receive Multiple Offers  

Here are some guiding thoughts to help you understand the importance of staging your home:  

Your home is in a price war and a beauty contest at the same time.

Pricing gets you showings, staging gets you an offer.

Pricing gets the buyer logically, staging sets the hook emotionally.

œThe home you live in and the home you sell are two different homes.   Gary Keller

Five C™s of staging:  

1. Clean!   Your home must sparkle!  When what a buyer sees has been well maintained, it eases their minds and sends an internal message about what they can™t see.

1.  
   • Power wash and clean the front door and porch area completely as buyers will stand here for a few moments as their agent gets the key box open.   Wash down vinyl, clean the light, put a fresh coat of paint on the door, clean off excess clutter and have only necessary furniture.   A new door mat, door handle, shiny door numerals and colorful flowers are all huge WOW factors.
   • Gleaming floors make buyers smile!   Everyone likes a new house and they get that new house feel when they see sparkling hardwoods, clean tile and carpet that aren™t worn and tired!  
   • Buy new carpet or pay to have them professionally cleaned because buyers have more money than visualization skills.  Always vacuum high traffic areas each morning.   Buyers always ask for more of an allowance than is necessary, so take care of problem areas before putting the home on the market.
   • Clean your bathrooms thoroughly!   Take the time to re-caulk to remove mildew and invest in some heavy duty cleaner to get shower doors crystal clear!   If the door is old and not in good repair, consider removing it and replacing it with a beautiful shower curtain.   Wipe down cabinets and make sure floors are free of hair.   New, fresh towels are a must!   Finally, take care of all the drippy faucets.
   • Clean your fridge, oven, cook top, microwave and fireplace!   These are major expenses that they want to last, so you want them to shine.
   • Clean your windows until they sparkle!
   • Eliminate odors by emptying the trash frequently, putting pet bedding outside and using air fresheners in bathrooms.   Smoke is a huge turn off, so do whatever necessary to purge the smoke fumes.

Springtime arrives in Greensboro! The rain has come- the flowers are blooming- the pollen is in the air! and our market is heating up!

We have had a very nice increase in the number of showings on our listings at the Jeff White realty Group in the last week. In addition, I have had a good number of people contact me regarding commencing the search for a new home.

The lower interest rates, the renewed optimism in the market all factor into the increased activity. In slower markets, its always a good time to buy- you may end up with a little less than you hoped for your current home, but the low prices and low interest rates will enable a purchaser to obtain more home for less overall dollars than if they wait to purchase in a more up market. This strategy works very well in out market as even our hottest market really doesn’t see appreciation rates rise about 5-6%. ( This is the Piedmont NC area market- not other areas of the country that experience 18-50% annual appreciation- of course those areas are now feeling the strong bite of a correcting market).

We hear a lot today in the media regarding the amazing amount of foreclosures and dropping prices in the real estate market. While this news is very true for many parts of our nation, we must always remember that real estate is local as well as national and global.

What this means to us..is that we must take the new we hear and then compare it to our local market condition to see if it applies.

In the Piedmont Triad area ( Greensboro, Winston Salem, High Point areas) we never experienced 15-20% or more annual appreciation in hoe prices. We always experienced approximately 4% appreciation. ( Some a little more, some a little less). The end result being, that we haven’t had the depreciation cycle of other markets.

What we have experienced is a slowing in the number of unit sales and a flattening in most cases of prices. We haven’t had the same number of sales and our prices haven’t gone up.

While this is still good news for home buyers- they can buy a home in 2008 for 2006 prices, it does not mean that we are dropping prices, depreciating values in order to move the homes.

For the seller, this means that the condition of the home is critical- it MUST look the very best it can and it must stay that way! It means that the home must be staged- presented- properly. The home is a product we are selling- and it its a product that engages all of the senses and emotions of the buyer- a product unlike any other in the market place- but a product none the less!)

It also means that the property must be priced in line with the market. It must be IN the market, not just ON the market. We have to be so careful to make sure that we are listening to and interpreting the market correctly. We no longer have the room to price a property high with plans to reduce the price without it hurting us.

As we head into the spring market, I am asked a lot -”how is the market” here in Greensboro, Winston, Kernersville and High Point. The answer is- not bad! Of course we have had our share bumps, but unlike areas of the country that experienced 15+ % appreciation, we averaged 4% or less each year. We have re-tooled our economy and bio-tech, Dell, Honda jet, FedEx etc..so we are not as reliant on furniture, textile and insurance like we were at one time.

We have slowed down in terms of appreciation somewhat and our unit sales are down a bit , but homes are still selling! It is a good time to buy as prices and rates are quite affordable. For a seller, it is a good time to sell- especially if your are looking to purchase something else.   Well kept, fairly priced homes are still selling and selling quickly! We do not have the margin for error we have had in recent years to press the envelope on things pricing   and condition-   homes cannot be over priced any longer!  ….and yes- the wallpaper has got to go as well as the clutter!

New construction has slowed but that is due in large part to the influx of new homes we have experienced in recent years- that supply is now being asorbed into the market.

The good news is that there are great homes on the market and they are selling!

Welcome to Jeff White’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Greensboro.