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Why Should I Consider Staging My Home?

by Mayes Harris Team


It is a question that sellers often contemplate and that is, "Why I should I spend money to stage my home?" Ask most any real estate professional that question and they will usually give you several reasons why and here are my top 5 reasons.

1. Staging doesn't have to cost you a lot of money, but the return in investment is why people choose to move forward with the action of home staging. If you hire a certified stager your return can be an average of 10 percent better in the final sales price than a non-staged home. 10 percent can definitely add up!!

2. Buyers are able to visualize living in a home if it is staged because certified home stagers know just how to present the home at a non-emotional level which is hard for the homeowners to do. When buyers can visualize living in the home then the offer is more likely to be written.

3. Online marketing will stand out better. Online marketing has become very powerful in selling homes these days and good photography is essential. So a staged home assures that the photography will be top notch and the first impression will be a good one!

4. Staging will actually help buyers overlook nonessential flaws on the home that they might otherwise be drawn to in a non-staged environment. 

5. Homes that are staged sell FASTER! 

Seventy-seven percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. NAR RESEARCH REPORT

So sell faster. Sell for more money. Look nicer. That's about it! Contact me if you need help or real estate advice. 

Gina Mayes Harris
RE/MAX Metro

 

The 4 Factors That Determine The Length of Time A Home Is On The Market

by Mayes Harris Team

There are 4 factors which directly impact the length of time a home sits on the market and they are the following:

1. Condition

2. Price 

3. Terms

4. Realtor©

Location is not something you can control, but it will have an impact on your home's listing price. Let's discuss the 4 factors you can control.

Condition - The condition of the home/property. Has their been upgrades? Is the decor dated or is that up-to-date? What renovations have their been? When was it painted last? How's the landscape? So many things to factor in.

Pricing - If it is on the market over 30 days then in most areas that would indicate the price is too high for the current demand.

Terms - What terms can you offer that would make the listing more attractive and more competitive with the other active Listings in your area?

Realtor© - This is an area where you really need to do some research. Ask family and friends in the area who they used. Look at the real estate professional's marketing, availability, and their brokerage. Is it a well-known brokerage? Do they have an extensive sphere to reach out to with news about the home when put on the mls? What kind of visibility will your home get once listed? 

I'm sure you've heard the term that the market determines the price on a home, right? This is true. 

Homes typically sell for the most within the first 30-days. After 30-days a home which is still on the market needs to have a review as to why. Re-adjusting the listing price is probably going to be your best strategy to get things moving again. The price is the MOST important factor in selling your home.

I think that's it. I hope this helps you if you are considering selling your home or if your home is currently on the market and you are wondering why it is STILL on the market. 

 

September 2018 RE/MAX National Housing Report

by Mayes Harris Team

The RE/MAX National Housing Report for September 2018 showed the trends of fewer closings and stabilizing inventory continued through September, punctuated by a surprisingly big 11.6% year-over-year drop in home sales. At the same time, the RE/MAX National Housing Report for September 2018 posted a Median Sales Price of $241,000 that marked the 30th consecutive month of year-over-year price increases. It is the highest September price in the 10-year history of the report. 
 
The decline in home sales year-over-year was the largest since May of 2011, as September became the seventh month of 2018 to record lower sales than 2017. Even so, year-to-date 2018 home sales resemble 2017’s.
 
“The big drop in September closings catches your attention. The market is clearly rebalancing as buyers and sellers continue to process the increasing interest rate environment and what that means to them,” said RE/MAX CEO Adam Contos. “The slower drop in inventory – a visible trend for nearly half a year – further illustrates the ongoing shift toward market equilibrium, and that’s healthy in the long-term.”

Active inventory dropped for the 119th consecutive month, the decline of 4.7% from September 2017 was the smallest year-over-year decrease since August 2014. In addition, the September year-over-year inventory drop was the fifth consecutive month in 2018 to post single-digit percent declines rather than the double-digit monthly drops consistently seen over the previous three years.

 
“It’s a little surprising to see prices staying so strong, but it’s hardly shocking in such a tight market,” said Contos. “The headwinds of rising prices and interest rates amid already tight inventory levels have been crimping affordability and slowing sales for most of the year, but it varies by geography.  In circumstances like these, where the market is tricky to navigate, both buyers and sellers can benefit by aligning themselves with a professional agent – a local expert who can cut through the noise and advocate on their behalf.”
 
Other highlights include:
Home prices rose by 5.6% over September 2017, more than twice the year-over-year price increase of 2.3% from September 2016 to September 2017. That reversed a trend seen in the previous three months, when year-over-year price increases trailed 2017’s rate of growth.
Months Supply of Inventory totaled 3.7, which is the second-lowest for September in report history, second only to 3.6 months in September 2017.
Days on Market of 46 was a September record for the report – three days less than September 2017.
 
Closed Transactions
Of the 54 metro areas surveyed in September 2018, the overall average number of home sales is down 24.4% compared to August 2018, and down 11.6% compared to September 2017. Six of the 54 metro areas experienced an increase in sales year-over-year, including Orlando, FL, +17.2%, Tampa, FL, +8.5, Miami, FL, +6.8% and Birmingham, AL at +4.0%.
 
Median Sales Price – Median of 54 metro median prices
In September 2018, the median of all 54 metro Median Sales Prices was $241,000, down 3.2% from August 2018 and up 5.6% from September 2017. Only three metro areas saw a year-over-year decrease in Median Sales Price; Birmingham, AL, -2.1%, Anchorage, AK, -2.0% and Honolulu, HI, -1.7%. Seven metro areas increased year-over-year by double-digit percentages, with the largest increases seen in Boise, ID, +17.9%, Manchester, NH, +13.4% and Salt Lake City, UT, +11.9%.  
 
Days on Market – Average of 54 metro areas
The average Days on Market for homes sold in September 2018 was 46, up three days from the average in August 2018, and down 3 days from the September 2017 average. The metro areas with the lowest Days on Market were Omaha, NE, at 19, San Francisco, CA, at 26, Seattle, WA, at 27, and five markets tied at 29 –Denver, CO, Cincinnati, OH, Indianapolis, IN, Las Vegas, NV, and Salt Lake City, UT. The highest Days on Market averages were in Augusta, ME, at 90, Burlington, VT, at 87, Hartford, CT at 81 and Miami, FL, at 79. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.
 
Months Supply of Inventory – Average of 54 metro areas
The number of homes for sale in September 2018 was down 1.0% from August 2018 and down 4.7% from September 2017. Based on the rate of home sales in September, the Months Supply of Inventory increased to 3.7 from 3.0 in August 2018 and increased compared to September 2017 at 3.6. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In September 2018, all but two of the metro areas surveyed – Miami, FL, at 8.0 and New York, NY, at 6.0 – reported a months supply less than 6.0, which is typically considered a seller’s market. The markets with the lowest Months Supply of Inventory are San Francisco, CA at 1.9, Boise, ID, and Denver, CO, at 2.0 and Salt Lake City, UT, and Omaha, NE, both at 2.3. 
 

About the RE/MAX Network

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with over 120,000 agents in more than 100 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX launched Motto Mortgage, a ground-breaking mortgage franchisor, in 2016 and acquired booj, a real estate technology company, in 2018. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home Listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.
 
Description
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 54 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.
 
Definitions
Transactions are the total number of closed residential transactions during the given month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median of the median sales prices in each of the metro areas included in the survey.  
 
MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.

The September 2018 RE/MAX National Housing Report infographic shows housing market trends throughout 54 metro areas. The report is based on MLS information, includes all residential properties and is not annualized.

 

We are thrilled to share the following with you!

by Mayes Harris Team

What a day!! Finding out that Gina Harris has earned recognition as a Top RE/MAX Producer in North Carolina for not just the month of July, but also from the beginning of the calendar year through the month of July! The #1 spot!!!

She's an amazing leader and we couldn't be more proud of her. Thanks to her clients for also making this recognition possible. Without the people who come to her to buy and sell their homes this wouldn't happen and I know that Gina doesn't take that for granted. She gives 125 percent of herself when it comes to her clients' needs.

Thank you! Thank you! Thank you!

July RE/MAX National Housing Report

by Mayes Harris Team

Three Takeaways from The July RE/MAX National Housing Report:

1.)   July Home Sales Rose 1.8% Year-Over-Year
2.)   Median Sale Price was up 4.4% from July 2017
3.)   Inventory for July was 2.9 – The Smallest Ever for July


BOTTOM LINE:

If you’re selling, you’re in a prime position, and your home most likely will move quickly.

If you’re buying, we’ll strategize and be ready to act fast. Getting pre-approved for a home loan is crucial, having a list of wants and needs, and be willing to compromise will help.

Contact us today!

 

How important are good school districts when choosing a place to live?

by Mayes Harris Team

Some wonder if it is better to buy a larger home in an area that may be up and coming versus a smaller home in an area that has a better school district. Although it is a personal choice, remember that real estate is an investment and as such, you should always consider the end game. Let's see just how important buyers consider the school district to be. What sacrifices will they make in order to get into a good school district? 

According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries.

What is surprising, however, is that 78% of recent homebuyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts.

The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated kitchen, the desired number of bedrooms, and an outdoor living area. The full results are shown in the graph below.

Buyers are attracted to schools with high test scores, accelerated academic programs, art and music programs, diversity, and before and after-school programs.

With a limited number of homes available to buy in today’s real estate market, competition is fierce for homes in good school districts. Danielle Hale, Chief Economist for Realtor.com, explained further,

Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren’t willing to compromise.

For many buyers and not just buyers with children, ‘location, location, location,’ means ‘schools, schools, schools.'

The bottom line is for buyers across the country, the quality of their children’s (or future children’s) education ranks highest on their must-have lists. Before you start the search for your next home, let’s get together to discuss the market conditions in our area.

How much improvement do I need to do to my home before selling?

by Mayes Harris Team

I am often asked what an owner needs to do before listing their home on the MLS. There are several factors to consider in answering that question and here they are.

1. How bad does the home look? Is it an eyesore from the moment you pull up to the moment you leave? If so, then a handy list of what must be done is great to get started on. 

2. How does it compare to other nearby homes on the market? Are other homes outshining your home? In what areas do they level up compared to your home?

3. How is the local real estate market? Is it a sellers' market or a buyers' market? How long are the local Listings staying on the market and what time of year are you listing your home? Is it before, during or after the school year? 

There are a lot of situations where certain fixing up and/or staging a home can play a big difference in what the owners are offered by the buyers. If you wish to discuss this, please contact us today. Let our experience work for you. 

Tip About Paint

by Mayes Harris Team

New paint makes the entire home smell clean and neat and can bring sellers top dollar. If your home has chipped paint, exposed wood, or surfaces that look faded, it's time for new paint. If your carpet is worn, dirty, outdated, or an unusual color or style, you might consider replacing it.

Many houses do not sell because of these problems. Don't think that buyers have more money than you to freshen up a home. They typically don't. They will simply look elsewhere for a home that needs less work.

Please let me know when you are ready to sell and I can help you prepare your home for today's market.

May 2017 RE/MAX National Housing Report (Infographic)

by Mayes Harris Team

The May 2017 RE/MAX National Housing Report infographic shows housing market trends throughout 53 metro areas. The report is based on MLS information, includes all residential properties and is not annualized.

Weekly Recap With Regard To The Local Lake Norman - Charlotte Area

by Mayes Harris Team


Time for weekly recap. We are going local this week. Let’s start with what’s happening in our area. 

This is for parents who might be interested in summer camps for their kids. Here’s a great website with loads of information for the Charlotte area - Charlotte area summer camp databases 2017 (and more)

Also, locally, there’s the Jetton Village for the Craft Beer SpringFest 2017. This free event will feature live music from three local bands, 10-15 breweries on site, a wine tent, food on the square, tailgate games and multiple bounce houses for the kids.

For the whole family, there is also the Easter Celebration Party on Saturday, April 8th from 1 to 3 pm. There will be fun activities for the kids including a visit with the Easter Bunny, Balloon Artist, Face Painting, Live Bunnies and Crafts. This is a free event. 


As far as our local real estate market we are seeing the following numbers:

  • In Davidson, NC: There are 256 homes for sale. The median listing price is $432k. The average price per square foot is $126. Median closing price is $285k. 
  • In Mooresville, NC: There are 1193 homes for sale. The median listing price is $341k. The average price per square foot is $110. Median closing price is $251k.
  • In Cornelius, NC: There are 349 homes for sale. The median listing price is $438k. The average price per square foot is $160. Median closing price is $275k.
  • In Huntersville, NC: There are 616 homes for sale. The median listing price is $338k. The average price per square foot is $113. Median closing price is $285k.
  •  In Concord, NC: There are 732 homes for sale. The median listing price is $245k. The average price per square foot is $102. Median closing price is $188k.
  • In Kannapolis, NC: There are 329 homes for sale. The median listing price is $100k. The average price per square foot is $67. Median closing price is $120k.

If you are interested in any of these markets or have questions, please feel free to contact me. I’m here to help you. Also, here are links to my featured listings and to my blog about the national real estate market

Also, enjoy a look at the Morning Coffee! If you would like information like this on a weekly basis, please sign up for our newsletter. 

Displaying blog entries 1-10 of 18

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