homes for sale

As a seller, here are your options if your home’s appraisal comes back low. If you’re a seller, what do you do if your home’s appraisal comes back lower than the agreed-upon contract price? This is a hot topic in our market considering how low inventory is and how many offers homes are getting. A lot of appraisals are coming back low, so today I’ll outline your options if this happens to you. There are three, in particular, that will decide what happens with your home sale.  Feel free to watch the video above in its entirety or use these timestamps to skip ahead to various sections at your leisure: 0:42—What is an appraisal? 1:18—Option No.1: Challenge the appraisal 2:57—Option No. 2: Address the price issue 6:08—Option No. 3: Put the home back on the market  7:41—Wrapping things up As always, if you have questions about this or any real estate topic, don’t hesitate to call or email me. I’d love to help you.

There are multiple ways of owning property. In today’s video, I’ll speak with attorney Arielle Cecala to discuss some different ways that you can own property outside of individually purchasing it. Given her background in real estate and estate planning, she really has a full scope of understanding in this area. For example, we’ll discuss reasons why someone should want to own real estate beyond just buying a property individually, as well as the differences between the types of property ownership.  Follow along in the video above, or use the timestamps below to navigate our discussion at your leisure: 0:37—Why would someone want to own real estate? 2:30—Is there a difference between the types of ownership? 4:56—What is a realty trust? What are the pros and cons of having one? 7:43—If you have an LLC or an S corporation, can it become a realty trust? 9:43—Wrapping up today’s discussion I’m so thankful to have had Arielle on with us to discuss this important topic. If you have any more specific questions or would like to connect with Arielle, feel free to reach out to me. I would happily set up an introduction for you.

Here’s my conversation with attorney Arielle Cecala about taking ownership of a home. Today I’m delighted to be joined by my friend Arielle Cecala of Crowley and Cummings. She’s our go-to attorney and recently sat down with me to talk about all the different ways you can take ownership when you purchase real estate. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most: 0:50- Arielle’s background and why she got into real estate law 1:30- What are the options for taking ownership of a property from a legal perspective? 4:25- How do individuals and married couples take ownership differently? 6:22- The topic for our next conversation with Ariel 7:05- Wrapping things up If you have any legal questions for Arielle, reach out to her at (781) 251-0540 or Acecala@crowleycummings.com. If you have any other real estate questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Friends and Clients —The real estate market continues to surge ahead. However, clouds might be forming on the horizon for sellers. Let me give you the details: 1. Ultra-low mortgage rates Throughout 2020, the popular 30-year fixed mortgage rate set 15 new record lows. It ended 2020 just one basis point higher than the latest record low and currently stands at 2.86%, a full percentage point lower than one year ago.These ultra-low mortgage rates are driving an increase in demand. Unfortunately, sales are restricted due to… 2. Record-low inventory There were just 1.28 million homes available for sale at the end of November, the last month for which we have full data. That is down 22% from a year earlier. It is also the lowest inventory count since the National Association of Realtors began tracking this metric in 1982.Unsurprisingly, home prices are shooting up thanks to strong demand and record low inventory. The median price of an existing home sold in November was a staggering 14.6% higher than in November 2019. If you’re worried this pace is unsustainable, you might be right: 3. A change in the market? Some experts warn that home prices are overheating and that affordability is suffering. They might have a point because, after five consecutive months of gains, closed sales of existing homes lowered in November. Similarly, after three straight months of record highs, homebuilder confidence in December dropped 4%. December mortgage applications also fell.  So what does this all mean for you? Well, things might get harder soon for home sellers. Lower affordability could hurt demand, and the price growth we’ve seen over the past months might slow down, or prices might decrease like we started to see before the pandemic. Fortunately, nationwide trends haven’t caught up to us yet in Raleigh. Demand is still very strong. If you were to list now, you could sell quickly and at top dollar. If you’d like to get an idea of what your home is worth right now, you can use the following home value calculator, which is based on recent Raleigh sales: Enter your address here to find out what your home is currently worth If you are considering selling while the current market lasts, give me a call at (919) 412-3475. I’ve helped many people sell in these pandemic circumstances, and I’m here to answer your questions and help however I can.

Here’s what mortgage guru Rick Scherer projects for lending in 2021. For today’s message, we’re joined by special guest Rick Scherer from OnTo Mortgage to talk about the mortgage outlook for 2021 and what we should expect to see in the lending world. In addition to being a good friend of mine and a longtime business partner, Rick is a rockstar in his industry. From his vantage point, he can see how the government is leveraging mortgage interest rates and what’s known as the prime rate of interest to boost the economy while our nation recovers from the blitz of COVID-19; that translates to good news for consumers, at least through the first half of the year. “Until we start to see some solid footing underneath us with the economy, rates will be low.” Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:  0:45 — Introducing Rick and his background as a mortgage professional  1:43 — What’s the latest projection on the trajectory of interest rates in 2021? 2:32 — The government’s initiative to buy up mortgage-backed securities 3:05 — An important distinction between interest rates and “the prime rate of interest” 4:03 — Why should people buy or refinance now? Rick explains the cost of waiting  6:17 — Wrapping up today’s conversation  I hope you found this discussion helpful; if you have further mortgage-related questions or simply want to pick Rick Scherer’s brain, just give him a call at 617-778-0024. Better yet, you can come to me with any of your real estate questions, comments, or concerns and I’ll be happy to bring in Rick’s expertise to the equation. Together, we can help you make the most of what’s shaping up to be another strong year for the market!

Here’s why this winter is a perfect time to sell your home. After reviewing their home’s valuation, a client of mine recently asked me, “Don’t you think we should just wait to sell our property in the spring?” I said no, absolutely not. Unless you have a specific reason for waiting to sell until springtime 2021 or later, you shouldn’t miss out on our uniquely beneficial winter marketplace. Here are the four reasons why: 1. Buyers are more motivated. When your home’s on the market during the holidays or late into the winter season, the buyers you encounter are far more serious. These people are committed to finding and buying a home today—not wasting your time. 2. Less competition. Many people have the mindset that they should take their homes off the market during the winter, which results in less inventory in an already low-inventory market. You’ll face less competition from other sellers to get the attention of all the buyers out there fighting for homes.  “If there’s nothing stopping you, make sure you get your home on the market now.” 3. The selling season starts on January 2. During Christmas and New Year’s, things tend to slow down (although some buyers are still out there looking), but once January 2 hits, the phones in our office start ringing off the hook. From that point onward, the busiest selling season lasts until the end of spring.  4. You can show off your home’s unique features. Perhaps you have a nice fireplace you can light up when it starts to get dark, or a cozy living room people can envision their family spending time in as the snow falls, or fancy exterior lighting. Additionally, if your property’s landscaping isn’t exactly where it needs to be, a little snow cover will conveniently blanket any eyesores.   Bonus reason: Low inventory. I already touched on this briefly, but this is the lowest inventory market I’ve ever seen.  So long as there are no other major life factors stopping you, you’ll benefit greatly from putting your home on the market now. If you’d like help getting the process started or have any real estate questions I can answer, don’t hesitate to reach out to me. I look forward to hearing from you.

With Thanksgiving right around the corner, we have a special message to share. The 2020 holiday season is upon us, and we hope you’re as excited about it as we are. We want to thank each and every one of you for what you’ve done for us. This year, yet again, we were able to help over 100 families buy or sell a home. Without you, we wouldn’t be where we are today. We’re truly humbled by and thankful for your support, trust, and confidence.  We wish you and your family a happy Thanksgiving and holiday season. If you have any real estate needs or there’s anything we can do for you, don’t hesitate to reach out to us. We’re here to help.

Here are my five tips for how to continue living in your for-sale home. How can you continue to live in your home once you put it on the market? Your home has always been your sanctuary, your personal space, but now it’s listed for sale and will get a ton of foot traffic. This can get very stressful and make it difficult to continue living your regular life in your house, especially if you have young children. So here are five tips to help you continue living your life in your for-sale home and keep things a bit less hectic: 1. Start packing now. Packing and storing boxes in the basement or garage is completely acceptable. We want to open up as much space as possible; we’re emphasizing floor space and square footage, so the larger it feels, the more money you’ll get.  2. Sell, donate, or throw it away. While you’re packing, try to get rid of things you don’t need. My suggestion is if you haven’t touched an item in a year and it’s not an heirloom or memory, it’s time to part with it. 3. Get squeaky clean. A clean, cared-for house can net you $5,000 to $10,000 more for your sale. Shoot for five-star hotel perfection when cleaning, and focus particularly on bathrooms, the kitchen, windows, and floors. Make it sparkle! “You won’t believe how motivated kids can get when there’s something fun tied to a chore.” 4. Maintain privacy and safety. Buyers are going to be looking through closets and other areas people wouldn’t usually see. Ensure there’s nothing valuable or personal anywhere that they could find. If you’re unsure about an item, be on the safe side and lock it away somewhere secure (this includes medications). 5. Involve your kids. Nothing is better than having your kids be part of the selling process. The easiest way is through games or a reward system so they’ll help you clean the house and prepare it for showings. You won’t believe how motivated kids can get when there’s something fun tied to a chore.  If you’d like to dig deeper into the tips above or have any questions about them or real estate in general, please shoot us an email or give us a call at (508) 422-9750. If you have a topic you’d like us to make a video about, let us know about that too. We would love to help in any way we can.

Here are four updates you should make if you’re listing during the COVID era. 2020 has been anything but a great year. We’re into month seven of the COVID era, and there’s no quick end in sight. With more people working from home and students taking online classes, homebuyer trends are shifting. Here are the top four improvements buyers want to see right now that you should keep in mind if you’re listing soon: 1. Upgraded outdoor space. COVID has shown us that cabin fever is a real thing. This doesn’t mean you have to build an in-ground pool tomorrow, but minor cosmetic and landscaping updates can have a huge impact. Depending on your neighborhood and budget, you may try building a firepit or an outdoor sitting area that’s weather-protected. Anything you can do to extend the life of your outdoor space is a big plus in today’s environment.  2. Functional home office and learning stations. With so much of the workforce not returning to the office until 2021 or beyond and more students than ever learning from home, showing that your property can fit home offices and/or work stations into its layout is critical. Even if you don’t need two home offices in your house, reminding buyers that your floorspace offers that potential is key.  “With more people working from home and students taking online classes, homebuyer trends are shifting.” 3. Separation of space. For so long, open floor plans were the layout all buyers wanted, but that’s fast-changing. Now, a well-segmented floor plan is what buyers are looking for. If your floor plan doesn’t offer this, consider adding pocket doors, room dividers, or barn doors. These will minimize the volume of people using individual spaces and showcase what your home can do for buyers.  4. A home gym. More and more people are forgoing gyms and working out at home where it’s safer and more comfortable. This means buyers need space for stationary bikes and other types of fitness equipment. Even if you don’t have the space to accommodate these things, try to at least convert a corner of a room into an area where buyers can envision their future workouts happening. This way they’ll know their health will stay a top priority if they buy your home.  If you’d like to know more about upgrading your home before selling or have any other real estate questions, don’t hesitate to reach out to me. I’m here to help.

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Here’s why you should have a real estate resolution this year. We have a question for you: What is your real estate resolution for 2020?  Are you considering buying or selling this year? It may be the best time to do so. Are you looking to invest or continue investing in real estate? This is the year to do it.  If you aren’t ready to do any of those things, but you own a home, you may be surprised at the equity you have in your home at this very moment. Now may be the time to capitalize on that. Should you refinance? You could pull that equity out, use it to pay off bills, or invest in other things.  “You may be surprised at the equity you have in your home at this very moment.” We would love to help and counsel you in all of these areas, so please contact us; we’d be glad to sit down and have a consultation to discuss your real estate resolutions this year. Don’t hesitate to reach out to us—we’d love to help you with your goals. In the meantime, have an excellent year!

What is a buyer’s needs analysis? In short, it’s a comprehensive interview that we have with you in which we take you through the buying process and learn a little bit more than what we call the three B’s of buyers. If you’ve talked to other agents and the only questions they asked you about revolved around the three B’s of buyers— “beds, bath, and budget”—then you need to be cautious of working with them. Those types of agents aren’t interested in what is going to be important for you with regard to your next home. After all, finding the perfect home involves more than asking about how many bedrooms or bathrooms you need, or about your budget. “During your buyer’s needs analysis, we’ll ask you questions that get to the core of what a dream home is like for you.” For example, what do you want your home to say about you? What would you like to feel when you walk into that home? Are you looking for more of a formal eating space or do you prefer an open concept? During your buyer’s needs analysis, we’ll ask you questions that get to the core of what a dream home is like for you. When you sit down with us for this 30- to 40-minute discussion, we’re saving you hours on the back-end because when you tell us exactly what you’re looking for, we can take you right to it. That makes sense, doesn’t it? If you have any questions about the buyer’s needs analysis or about buying a home in general, feel free to reach out to us. We’d love to hear from you!

How important is a home warranty? If you’re purchasing a new home, it’s not too important because you’ve already got a lot of warranties built in by the home builder and the appliance manufacturers. New construction home purchases make up a small percentage of all home sales, though, which means there are a lot of other homebuyers out there dealing with old appliances and the like.  “For just $500 to $600, you can buy peace of mind.” This is where home warranties become very valuable. For just $500 to $600, you can buy peace of mind. Your warranty will not only cover your most important appliances (furnace, water heater, refrigerator, etc.), but it will also cover your plumbing and electrical systems.  Not to mention, your home warranty is renewable every year, so you can keep having that peace of mind until however long you like.  Whether you want to get a home warranty or not is your decision, but I highly suggest you do so.  If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help you.

Whether big or small, your budget should allow for certain renovations to be made when it comes time to sell your home. Here are a few renovation tips to think about:  One lower-cost renovation you can make is increasing your curb appeal. Something as simple as doing a little landscaping, mulching, or sprucing up your yard’s overall appearance by cleaning up yard waste can make a big difference. Also a simple fix, replacing the hardware on your cabinet doors and any other door in your home can totally transform the look of your home.  The next one on the list should come as no surprise: painting. Especially if you have young children, your home’s walls probably aren’t exactly in pristine condition. Over time, the walls of a lived-in home tend to have scuffs, nicks, and maybe even fingerprints. Whether it’s your walls or cabinets, applying some new paint can add a great deal of buyer appeal. “Something as simple as doing a little landscaping, mulching, or sprucing up your yard’s overall appearance by cleaning up yard waste can make a big difference.” Let’s shift our attention to bigger-budget renovation items that will give you the greatest bang for your buck. While you can opt for a minor remodel, a full kitchen remodel usually returns a whopping 110% of the money you’ve spent.      The same goes for a bathroom remodel, but it’s important to note that this depends on how many bathrooms are in your home. It would probably be unwise to add, say, six bathrooms when your home already has two.   In any case, smaller items like new tile or light fixtures will give your home a nice value boost and are likely to put every dollar you spend back into your pocket.  From simple to difficult and cheap to expensive, these are just a few of the great renovation options you can try in your home that will prove to be money well spent.  Should you have any additional questions or if need input on what you can do to add value to your home before you sell, don’t hesitate to contact us by phone at 816-875-1744 or by email at James@HernHomes.com. We at The Hern Group would be happy to help!

Today I’m here to answer the question, “Why is a home inspection so important?”  As far as homebuyers are concerned, a home inspection gives you the most honest, accurate picture of a home’s condition. Sellers don’t always know about everything that is wrong with their property until an inspector actually comes in and takes a look. An inspection gives you peace of mind about what you’re buying. While no one can predict how long certain systems and appliances will last, home inspectors can point to factors that you’ll have to take under consideration when buying a home. If you know that the home’s furnace is on its last leg, a good agent will make sure that information is factored into the offer. “Have an inspector look at any property you’re considering purchasing.” If you’re like me and need a little help, it’s a smart move to have an inspector take a look at any home that you seriously consider purchasing, either for your family or as an investment. They will be able to tell you, or direct you to someone who can tell you, every imperfection in the home. If you have any questions about home inspections or about real estate in general, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

People have been asking us a lot lately, “Why should I come into the office for a buyer’s consultation?” Well, today we have the answer. The goal of this consultation is to sit down with you for a little bit to explain how the market works for buyers from A to Z. Things change periodically, and we would love to sit down and show you how the process works in the current market so you can get a better idea of what it will look like before you make a final decision.

Should you buy or should you rent? Well, the answer depends on where you are right now in your life. Some people rent because they can get in and get out fairly easily. They don’t want to be saddled down by a mortgage, but what they fail to realize is that they’re still paying a mortgage—it’s just someone else’s. If you buy a home, however, you now have your own place. In addition to being able to do whatever you want with it, you’ll enjoy a multitude of tax benefits as well.  “If you stay in a home for five years, its value will increase by about 20%.” Equity is another big factor to consider when owning a home. Homes appreciate by about 4% each year, so if you stay in a home for five years, its value will increase by about 20%. Regardless of how big or small this increase is, it’s still 100% more than what you’ll gain by renting. When you weigh the two options, you’ll see the best choice is to buy instead of rent. And due to our current low interest rates, you could be owning a nicer place for less than you’d be paying in rent. If you would like to learn more, have any questions, or need more information, feel free to reach out to me. I look forward to hearing from you soon.

CAPE is an acronym our team uses to help sellers remember the elements that can make or break their home sale. Condition, access, price, and exposure are all key to attracting the most buyers and getting the most money possible from your sale. Today I’ll break down each of these elements and explain why they’re so important to stay on top of.First, a home’s condition is something that the seller has complete control over. Think of it this way: The buyer needs to envision themselves living in your space, so the more you can do to help them imagine living there, the better. Here’s how you can help that along: Declutter. Remove any clutter that will ruin the buyer’s fantasies. Pack your extra belongings away or get rid of them altogether. Paint. A fresh coat of paint can help a buyer envision living in your home, but period color is important, too. If you have questions about what colors are best, I’d be happy to advise you about what’s currently popular in the real estate market. Flooring. If a buyer thinks that they’ll have to change the home’s flooring when they purchase your home, they’ll be less likely to consider your listing. Deep clean your current flooring or replace it altogether to grab a buyer’s attention. Next in our acronym is access. Access is another thing a seller has total control over. Keep in mind that buyers want to see homes when they want to see homes. Particularly when they’re working with real estate agents, those homes that don’t offer wide access for showings may get overlooked. It’s typical for some sellers to be reserved about when they want to show their homes, but the more available a property is, the greater the number of buyers willing to see it, and the more potential you’ll have for receiving offers. “Generally speaking, if you get no showings for your home, that indicates that your home is overpriced by 10% or more.” Third, keep pricing in mind. If you overprice your home far beyond its market value, you’ll have few, if any, showings. Generally speaking, if you get no showings for your home, that indicates that your home is overpriced by 10% or more. If you have showings but receive no offers, that could mean it’s overpriced by 5% to 10%. If you get showings and offers, but these offers are lowball offers, that generally means that you’re somewhere between 2% and 5% over market value. When you home is priced properly, you’ll likely get many showings, receive multiple offers, and the property may even sell for higher than your list price. Finally, remember exposure. The agent you work with can help you to maximize the exposure your property receives—in other words, how many people see your listing—not only on the MLS, but also on all the websites where people are looking at homes. Make sure that the photography used to advertise your home shows it in its best light, and also be sure to track what is being said about it. If you have any questions about CAPE or about anything related to real estate, please feel free to reach out to me. I’d love to help you.