Real Estate market 2018 for Charlotte, NC
A guide for Buyers and Sellers
How do I prepare for the Real Estate Market this year? This is probably the most popular question I get asked by buyers and sellers alike. According to the news, homes are just “flying off the shelves.” This might actually be true if you are a first-time home-buyer looking in the $100-$300k range. So many millennials are entering the Real Estate Market during an extreme shortage of listings, causing the demand for this price-point to be pretty painful for buyers.
Can you guess the average number of days that a house stays on the Real Estate Market? 1 day. That’s right. GONE.
First, let’s talk to my buyers…
How to win a multiple offer situation or a home under $300k in Charlotte
1. For starters, get yourself a seasoned and EXPERIENCED buyer’s agent. This is vital for a few reasons:
- Competition. 8-12 hours after a listing has hit Zillow or Realtor.com, your competition has already seen it, and maybe even booked an appointment. Realtors have access to listings the nano-second it goes live. You want someone that is available to show you property ASAP.
- Availability. You’ll have an agent to come to ANY time ANY day of the week with questions and concerns. As a Realtor, I work non-stop. I have no “off-hours.” Believe it or not, there are some agents who don’t work Sundays or after 5 pm.
- Multiple-Offer Situations. The right buyer’s agent will prepare you to win multiple offer situations (stressful bidding wars) and keep a leg-up over your competition well before your perfect home hits the market. To find out what exactly I do to prepare my buyers and make their process as seamless as possible, please contact me and I will ensure you are ready to win your dream home once we find it. I have an excellent multiple offer track record!
2. Get to know your area’s school zones.
Have a home in mind? Become familiar with the neighborhood, schools, and area so you are not wasting time deciding on anything BUT the home. If you think you will have children in 5 years, please look at the schools unless you want to move again (and prepare for a new Real Estate Market later!) I can’t stress this enough.
3. Show me the Money!
The more money you have available to put towards a down payment, the better and the more flexible you will be with closing the deal in a timely manner; and therefore, the more appealing you will be to the sellers and the seller’s agent. Often times, you may be up against cash buyers. Cash buyers can close in 14 days! Talk about a seller’s dream.
4. Don’t get caught up in asking for personal property.
Keep it as clean as possible. You can always ask for that after you have come to contract terms.
Anything and everything else will be shared with my buyer’s when you choose to work with me. I will keep you informed and prepared to buy that perfect home! Contact me and let’s get to work!
When is the best time to contact a Buyer’s Agent? (Danielle Edwards)?
ASAP! Don’t wait till your lease is up in 30 days. You should be contacting your agent at least six months in advance. The sooner the better! Read the Working with Real Estate Agents brochure. 90% of all buyers have representation.
The seller compensates the agent. In exchange, you get someone who is looking out for you through finding the home, negotiation, problem-solving (trust me, most of what I do is problem-solving), repairs (the most stressful part) and coordination of closing. Would you really want to do all that yourself?
Alright, sellers. It’s your turn.
Let’s get to the point. If your home is over $300k, it is not part of the mass craze of homes selling in one day.
I am sorry to break this to you. With new construction going up everywhere, and the majority of Baby Boomers downsizing from their 4,000 sqft+ homes, there is A LOT of competition. Buyers looking for homes over $400k are most likely NOT first time home buyers. This crowd has likely already owned a home and are now looking to cross everything off their wishlist with their second or third home. Most buyers these days spend hours watching HGTV and expect every house to look like the “after” portion of Fixer Upper. They also have new construction options that are often right around the corner from your well-built 1980s brick home and have all the bells and whistles with a teeny-tiny yard to maintain.
So what can you do?
Wait for it…
Well, contact me of course! In all seriousness, there is A LOT of work to be done to get your home ready to sell. I have the numbers (and the experience) to prove it. All of my previous listings that underwent some serious hard work (as well as minor adjustments) in preparation to hit the Real Estate Market, sold quicker. The ones that didn’t, sat on the market. Those sellers eventually had to cave and make changes that I suggested and guess what? They sold.
Things that make a home take longer to sell:
1. The Lot
If your lot is less than ideal, your price should reflect that. Do you have a sloped or high-pitched driveway? Is it kid-friendly? Does it back up to a highway, road, unsightly or ill-maintained neighboring home? Most deficiencies can all be overcome by a lower price. I firmly believe there is a buyer for every home. You don’t want to waste the first 30-60 days on the market receiving the same feedback about your lot over and over. Imagine having to keep your home immaculate 24/7 while dealing with the pets and children (if you have any). Stressful. The only exception to this is if you don’t actually live in the home you’re selling. Regardless, have your listing price reflect the quality of your lot will allow us to find that buyer that doesn’t mind the EMF tower in the backyard.
2. The Wallpaper
3. Heavy curtains covering transom windows
Dark, drab rooms are not very inviting. In case you haven’t heard, natural lighting is “all the rage” right now. Studies show that living in a home with plenty of natural light is beneficial for your immune system and overall happiness levels.
4. Overimproved home
In today’s Real Estate Market, you might have trouble if your home is recently updated or has new additions while surrounding homes are outdated, small, and poorly maintained.
5. Undesirable schools
Buyers that are hoping to have kids or who already do, will be looking for a home in a top-level school district. Unfortunately, there’s not much we can do when it comes to the school district your home is stuck in. But we can highlight other perks that outweigh the cost of undesirable schools and even get familiar with nearby private schools.
6. Poor maintenance
I have a lot to say when it comes to maintaining your home. In fact, I wrote a book about it. You can find it here. If your home has been poorly maintained over the years, it will take a lot of work to get it in top-selling shape– but together, we can make it work.
As your agent, I will provide you with the average days on Real Estate Market for your community. You can click here to find out your neighborhoods recent activity to get an idea. My role as your agent is not just to post your home on The MLS, anyone can do that. My goal is to effectively market this home and get it sold. The home is a product. I will negotiate with your buyer’s agent, manage repairs and problem-solve daily until we close!
Let’s be honest: Interest rates are expected to rise and there is a lot of new inventory entering the market as well. When interest rates rise it affects the buying power that future homeowners have. You only have one chance to make that first impression to buyers. And Buyers, you only have once chance to make the right offer to a Seller. Whichever side of the coin you are on, I can assist you.
REMAX agent Danielle Edwards
Contact Danielle Edwards with REMAX Executive Realty for all of your Real Estate needs!