Real estate blog entries tagged with seller by Lane Bailey, Realtor & Car Guy (Century 21 Results Realty)

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seller: Renovation RoI Revisited... - 12/30/10 01:19 PM

Image via Wikipedia Just last week I wrote a post highlighting the results of the Remodeling Magazine's Cost vs. Value study. And in this month's Realtor® Magazine, the newest results are published. The reason I like this particular study is that it breaks down the results by region. It would be great to break it down further to metro area... and then maybe ZIP code... and possibly subdivision... or even street... but that isn't happening. Region is good.
The numbers for the Southeast are interesting. The Top 5 Renovations for Return on Investment (RoI) are:
Mid-range entry door (steel) - 135.5% … (1 comments)

seller: Wayback Wednesday... Looking Ahead to 2009... - 12/29/10 02:43 AM

Image via Wikipedia Two years ago this week, I posted up my predictions for the next year. That year would be 2009. I got a few right, and got a few wrong. I was just looking back and I was surprised by them... some were pretty bold.
Here is the original post...
Here is a quick rundown of how I did...
Right Rightish Hit that one Kind of right... Not so good on that one That one was good Nailed that one Not so much Got that one pretty right Hit that one out of the park... Image via Wikipedia On … (4 comments)

seller: Flashback Friday... Getting the Most for Your Renovation Dollar - 12/25/10 02:08 PM

Image via Wikipedia Do you know anyone that just likes to throw time, money and energy at a home renovation project, without a care for the value added? I sure don't. In fact, almost everyone I know is looking for ways to maximize the value of the dollars they spend renovating.
Last year, I wrote about a study from the National Association of Realtors® which detailed the average costs and RoI (Return on Investment) for various renovations. It was even broken down by region.
I'll give you the spoiler... Replacing the front door actually is the winner, and by a wide … (1 comments)

seller: Lawrenceville, GA Market Report, November 2010 - 12/16/10 02:56 PM

Image via Wikipedia arket stats for Lawrenceville, November, 2010, indicate that there are 1627 properties on the market. Overall, there is about an 10.5 month supply of properties, with sales weakening since June. In 2009, sales for November had dropped drastically between October and November (223 to 166). For 2010, November sales came in at 148.
For Lawrenceville Homes Under $200k, there are 1338 listings, with about a 9.5 month supply of homes. Sales accelerated through June, but then fell off as the tax credit was slated to end. While inventories are down from just a couple of years ago, for … (2 comments)

seller: Wayback Wednesday... Optimist or Pessimist? - 12/15/10 12:54 PM

Image via Wikipedia Two years ago I wrote this post... And it is almost embarrassing... I was SO wrong. So wrong.
Or maybe I was right, but just a couple of years too early (nope, I think that saying I was wrong is closer to the truth).
In effect, my opinion was the real estate was poised for a recovery. The prices were cheap, and mortgage rates were almost impossibly low.
Prices are lower... and so are interest rates. There are still deals out there (but at least there is a fight for some of them). But the fact remains that … (10 comments)

seller: Lilburn, GA Market Report, November 2010 - 12/15/10 12:40 PM

Image via Wikipedia Market stats for Lilburn, November, 2010, indicates that there are 425 properties on the market (as of November 30th). Overall, there is about a 11.8 month supply of properties. Lilburn is actually mid-pack among cities in Gwinnett County. Absorption Rates had been improving since March, until September. In fact, in March there were 15.3 months of inventory.
In the sub-$200k arena, there are 264 listings, with about an 8.6 month supply. This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March, until October. Sales were on par … (0 comments)

seller: Wayback Wednesday... Is NOW the Time to Buy? - 12/08/10 01:13 PM

Image by dannyfowler via Flickr Listening to the NAR (National Association of Realtors®, it is ALWAYS the right time to buy. If the market is going up, they pound the "buy the rising market" drum. If the market is going down, they beat on the "buy into value" drum. Frankly, I'm tired of it, and they have killed a massive amount of credibility by constantly trying to spin reality for "our" perceived benefit.
A couple of years ago this week, I was on Social Media Edge, on Blog Talk Radio, talking with Ken Cook about this very thing. I've had my … (0 comments)

seller: Flashback Friday... Absorption Rates, What Are They? - 12/03/10 08:19 AM

Image via Wikipedia I talk about Absorption Rates all of the time... In fact, in at least 8 posts a month (all of my market report posts) Absorption Rates play a key role. Understanding what they are and why they matter is a key part of understanding my market reports.
Last year I wrote an in-depth post about exactly what Absorption Rates mean. I tried to make it a little more real by talking about how it relates to keeping a stock of frozen Pizza around the house.
The concept isn't terribly difficult to understand, but can sound complicated... It is … (0 comments)

seller: Wayback Wednesday... Homes ARE Selling! - 12/01/10 01:22 PM

Image via Wikipedia A couple of years ago I wrote about a deal on a property I ran across. It was priced around $330,000. At the time I said that it would have around $75,000 equity. It sold for $300,000. The most recent comps in the neighborhood have sold around $400,000 in the last couple of months. Also of note, it was only on the market for about two weeks.
Since then, I have posted a couple of other times about properties that looked like good deals. None of them were on the market for more than a couple of weeks... … (7 comments)

seller: So, You Have An Accepted Offer... All Is Good, Right? - 11/13/10 04:01 PM

Image by Alan Miles NYC via Flickr Not so fast there, Mr and Mrs Homeseller...
A lot of sellers think that the sailing is going to be smooth after they go "Under Contract". After all, the hard part is getting an offer, right?
Maybe... Maybe not...
Actually, I have dealt with a rash of buyers falling out of contract lately. Inspections haven't been good to a couple of sellers. The specific issues aren't as important as the concept here. The home isn't sold until you clear the closing table.
Homes fall out of contract for a variety of reasons.
Inspection issues … (5 comments)

seller: Why Shouldn't They??? - 11/12/10 03:18 PM

Wandering around in the stacks of AR... and any other site with a lot of real estate agents, one often runs across posts wondering just HOW consumers can view us as interchangeable cogs... all the same.
But let's think about this for a couple minutes.
We all call ourselves REALTORS(R)... We all have almost the EXACT same inventory... Almost everyone makes the same promises... ("I'll sell your home for the highest price in the shortest time") Too many of us have a 20 year old 'Glamour Shot' on our business card... And let's not forget that our fees, while always negotiable, … (11 comments)

seller: Wayback Wednesday... Set the Hook... - 11/10/10 02:35 PM

Image via Wikipedia Two years ago there were worries among sellers that buyers couldn't obtain financing. Those worries are back... but, then as now, money was available.
Of course, in the middle there were issues with getting loans funded. But now, the loans are available. Of course the credit restrictions are tighter and there are fewer loans available for those with weak credit. But, many would be buyers think that getting a loan is all but impossible... that may be what they heard on TV or saw in the paper.
So, a great opportunity for sellers (and their agents) is to … (3 comments)

seller: Duluth, GA, Market Report, September 2010 - 11/01/10 03:08 PM

Image via Wikipedia Preliminary stats for Duluth, September, 2010 indicated that there were 588 properties on the market. Overall, there is about an 9.9 month supply of properties. Months of Inventory has been increasing for the last couple of months. Sales in September were 38, compared to 63 a year earlier.
In the sub-$200k arena, there were 226 listings, with about a 10.6 month supply. The Absorption Rate had gotten down into the high 4 month realm… and as recent as December, was in the low 5s. In May, it was at 7.9 months and has been rising since, markedly in … (0 comments)

seller: Wayback Wednesday... A DNS - 10/20/10 10:23 AM

Image via Wikipedia In racing, a DNS means that a car Did Not Start. One could say that it is even worse than the dreaded DNF (Did Not Finish). Not making it to the Starting Line is definitely worse than not making it to the Finish Line.
But for Housing Starts, it is a good thing... at least it is here and now.
Two years ago I wrote a post about how Housing Starts had fallen to their lowest level in 17 years. Now, we are close to the lowest recorded levels.
But there is still too much inventory. I know, … (1 comments)

seller: Buford, GA, Market Resport, August 2010 - 10/09/10 09:59 AM

Image by lane.bailey via Flickr Buford, GA is a suburb of Atlanta in Gwinnett and Hall Counties. The population is 2000 was 10,668, but that only included the area inside the city limits, and it had seen tremendous growth since that census. Buford is home to Lake Lanier, one of Georgia’s premiere recreational areas, and Lake Lanier Islands. Recently, the City of Buford has revamped their old town. It is also home to Buford (Buford City Schools aren’t a part of Gwinnett County Schools), Mill Creek, Mountain View and Lanier High School (Lanier will open for the 2010-11 school year).
Market … (1 comments)

seller: Duluth, GA, Market Report, August 2010 - 09/30/10 03:46 AM

Image via Wikipedia Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently. Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia. It is also home … (0 comments)

seller: Lawrenceville, GA Market Report – August, 2010 - 09/30/10 03:38 AM

Image via Wikipedia Lawrenceville is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 22,937 people in Lawrenceville, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County (2008 estimates from the Census Bureau peg population around 29,000). It was incorporated in 1821. Lawrenceville is home to Central Gwinnett High School, and also has students that the Mountain View and Archer clusters. It is also home to Gwinnett Technical College and Georgia Gwinnett College. Another recent addition to Lawrenceville is that … (0 comments)

seller: Wayback Wednesday… Don’t be Dumb Like a Bank - 08/14/10 03:40 PM

Image via Wikipedia A couple of years ago I wrote a post about a particular property. It was a foreclosure, and the bank acted stupidly. And I’m not saying that lightly. Had they accepted my client’s offer, they would have sold the property a year earlier and for $40k more than they eventually got.
It is an interesting read…
Now I see a lot of people making the same mistake from the other side of the fence…
I see buyers trying to deliver one last beating to the bank… often during the inspection phase… and losing a great deal … (4 comments)

seller: Buyer Notes... Part II - 07/20/10 05:27 PM

I'm in the market... My family is 'thinking' of buying a new home. And while I spend a lot of time with other buyers, it is a different beast when putting MY money on the line. It shouldn't be... but it is. I think it is a fantastic learning opportunity for me. So, this is a series of posts about the things I am 'unlearning' as a real estate professional, and learning from the buyer's seat.

Dear Listing Agent,
Please don't put stupid things in your description. There are a limited number of characters allowed by the listing services. … (21 comments)

seller: Buyer Notes... Part I - 06/24/10 05:39 PM

I'm in the market... My family is 'thinking' of buying a new home. And while I spend a lot of time with other buyers, it is a different beast when putting MY money on the line. It shouldn't be... but it is. I think it is a fantastic learning opportunity for me. So, this is a series of posts about the things I am 'unlearning' as a real estate professional, and learning from the buyer's seat.
Dear Seller,
As a buyer, I would love to see your house. But... I don't really want to meet you there. Actually, I don't want … (10 comments)

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