|Education & Training||
|location_on Wilmington, NC — Home Solutions Group, Inc.|
|web Delinda Harrelson's (buyncrealestate) Blog|
I am a master at learning. Even though I have had lots of success renovating properties, I never stop learning because the market is always changing, and so do buyers needs.
I love to figure out why one house sold over another in a neighborhood. People make it sound like it is price or location, but I have seen a lot of houses priced well, in great locations, or have been renovated well, but they don't sell. WHY? There are so many variables that people, even appraisers don't look at when it comes to selling a house. It is not as simple as pulling the comps based on sq ft and making adjustments. I don't care how well you renovate a house, it won't sell quickly if the floor plan is weird, or the neighbor has an annoying barking dog.
It is not going to sell quickly if the tile work is too dark, or the paint colors are too bold. It won't sell quickly if it is priced higher than everyone in the neighborhood in a down market where people search for deals. I renovate based on what the last few sales were in the neighborhood.
If we are suddenly attracting first time home buyers, that are in a certain price range, I price mine in that price range, not where I think it should be priced based on how much money I have into it. The numbers don't lie. If nothing in the higher points are selling, there is a reason. Maybe buyers can go elsewhere and get a better deal for that higher price, so why would they buy yours. This is where I feel I have an advantage. I sell mine quickly due to studying others and seeing what is emotionally moving people now, now months before. I have a nack for charm.
My properties stand out over others because I know what creates emotion. If I didn't, why would I almost always be the highest sale with the least days on market? It is because I have renovated a lot of houses, and analyzied even more houses that I have passed on . The key to being a great rehabber is to get out of your own way, and model what works. If Richmond Bisque is the most popular color that builders use when painting houses, there may be a reason, don't you think?
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I have renovated all types of properties, but have fallen in love with renovating older homes. So, I guess you can say, I specialize in renovating historic homes dated 1920 to 1940 that are located in historic areas. I have renovated properties costing close to $400,000, but prefer to stay $300,000 and below.
The thing that sets my properties apart from others is the attention to detail. I make sure all of the moldings and trim work are from the specific period that the house was built. If the house did not have built in bookcases, plate racks, original spice racks or ironing board closets, I like to add them. Most of the time, I add extra features that the home does not currently have like columns on the front porch, gingerbreads on the posts, or I create beautiful porch banisters.
Are the rooms a decent size or do walls need to be added or removed to make it more functional? Does one room yearn for a bathroom, so it can be a master bedroom? Which room should be the master bedroom? Which room has the most natural sunlight coming in? Which room provides the most space for a great kitchen? How big is the bathroom? Can we put glass shelves to create an open, flowing space and give extra storage? Always keep in mind extra storage for buyers since older homes really didn't have large closets or storage areas.
When focusing on the kitchen, most of the time I remove the old cabinets and put in new, solid, cherry cabinets with a granite countertop. Seems to me that even though I could get away with formica, or painting cabinets, the clientel I am trying to attact likes new, and fancy.
If the house doesn't have curb appeal, how will I get buyers into the house? A beautiful, small white picket fence, with flowing jasmine or mandivillas in the summer months, accompanied by white window boxes overflowing with beautiful colors will attract any female buyer. Is there a place to hang a white front porch swing? Or even add a tea cart with rocking chairs? You see, it is not just the renovations that create emotion. There is so much more to it! I love renovating homes and hope you do too....
Full Time Real Estate Investor that has been renovating, retailing, and wholesaling property since 2002. Although, I have renovated over 100 homes, I love older historic homes in downtown areas.