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Tuesday, May 06, 2008
Yesterday I had the pleasure of attending a closing on the purchase and sale of a property. This particular property had been on the market for many months. The owner must have wondered if a buyer would ever come along. It's easy for sellers to despair of ever selling their property, but we REALTORS know this: There is someone for every property. Eventually, that buyer and that seller find each other. In most cases they are introduced by a real estate professional.
That's what we REALTORS do; we bring buyers and sellers together and help them reach an agreement. Believe it or not, the real pleasure for most of us is seeing the smiles on the faces of the buyer and seller when they have completed their transaction. To know that we real estate agents had a role in making it happen is priceless. (Of course, we are happy to be compensated for our efforts, too, so we can pay our bills.)
In the transaction yesterday the buyers were a young couple buying their first home. They were obviously happy about it. The seller likewise was delighted to finally have sold his property. The seller was off to the bank with his check, and the buyers were off to their new home and their future together. The two REALTORS involved, one working with the seller and the other working with the buyers, shared the joy of the occasion as did the attorney and his co-worker who prepared the legal documents and closed the transaction. Everybody won.
If you were one of those involved, and you're reading this, you know who you are. Thanks very much for making my day. And, yes, thanks to the mortgage lender at the bank who provided the buyers' mortgage loan and made it all possible.
I am writing this while sitting in the swing on my back porch. It's another beautiful day. I worked in the yard earlier today, and noticed that we are very much in need of rain. There's a 30 or 40 percent chance of it predicted for Thursday. I surely hope it materializes.
As soon as I finish writing this blog, I'm going up to Concord in Schley County to take some pictures of an old house. It's the house I lived in for the first five and a half years of my life, and it its dear to my heart. The house served as both a dwelling and a post office from 1888 to 1905, and it is on the National Directory of Historic Places. It was called the Schley Post Office when it was first opened. Eventually it became known as the Patton-Hill Post Office. The Americus Times-Recorder is planning to publish a story and photo of the old post office and house in an upcoming edition of the Ellaville and Schley County Scene section of the newspaper.
Some baby birds are learning to eat seeds at the bird feeder in my back yard. Looks like a good crop of new songbirds coming along. The squirrels are having a fit to get into the bird feeder, but they can't. They will have to be satisfied with the seeds that the birds scatter on the ground.
OK, off I go to Concord.
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Saturday, April 19, 2008, was a gorgeous day. The chance of rain predicted by the "weather man" seemed to evaporate in Schley County, and skies were a brilliant blue. What a great day for a wedding.
The Corinth United Methodist Church was packed for the ceremony uniting my cousin, Ann-Marie Phillips Streetman, and Robert Kevin DeVane in marriage. The ceremony itself was the nicest one of its kind I have attended in a very long time.
Kevin's parents, Tommy and Susan DeVane, hosted a reception following the wedding at their home acrosss Ga. Hwy. 26 from the church. The bride and bridegroom, accompanied by Ann-Marie DeVane's two daughters, Maggie and Mary Kate Streetman, rode over to the house in a white carriage driven my Ken Adams.
The wedding party, directed by Kim Lawhorn, was just as nice as the wedding ceremony, and was a lot of fun. I had a great time seeing family and friends, and making the rounds of the tables of finger foods, cakes and drinks. All in all, it was a thoroughly enjoyable occasion.
By the way, Susan DeVane does a very respectable rendition of "the twist."
This afternoon, I'll stroll along College Avenue in Americus and visit five homes that are participating in the porch tour sponsored by the Sumter Historic Trust. The Trust recently bought the "Eldridge house" on College Avenue which it plans to restore and put on the market for sale. Proceeds from the sale will go into a revolving fund to be used to purchase another house in the historic district. One by one, old homes will be bought, restored, and sold to new owners. It's a grand project of the Trust, and deserves everyone's support.
Did you attend the annual meeting of the Ellaville-Schley County Chamber of Commerce? It was perhaps the best annual meeting I can recall. The reason for my enthusiasm is the chamber's new spirit of success. In fact, it has a new slogan: "Schley County, Spirit of Success!" That spirit was evident at the annual meeting.
The people of Ellaville and Schley County can take pride in the progress of their town and county. This progessive spirit is the result of positive thinking and leadership on the part of many people. Ellaville and Schley County are on the move, and are now a "destination" for newcomers looking for homes, good schools, and a friendly, encouraging community. Congratulations to one and all!
I'm proud to say I'm a native of Schley County. Although I missed the opportunity to grow up there, it has always been "home" for me. That's a privilege I treasure.
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Borrowed from another source:
Spring brings out the remuddler in us. Warmth encourages knocking down, throwing out, fiddling with and adding to.
The line between remodeling and remuddling is clear after the fact. A remuddle never looks quite right and doesn’t work quite right either.
Particularly prone to immediate remuddling are new property owners who have convinced themselves that anything that was plenty good enough for the previous occupants must be done over. I’ve also observed this behavior among my local woodchucks.
I, too, have succumbed to this new-owner need to replace what is with something I’ve half thought out. I think this instinct in men has something to do with testosterone and marking territory. I’ve never met a guy who was unhappy with a crowbar in his hand.
Women in my experience remuddle less and remodel more. On the negative side, they care about interior design. I suffer constant criticism from both my wife and daughter for hanging my college lacrosse stick in our living room. They refer to it as “decorative adolescence.”
Newcomer new owners often underestimate the wisdom embedded in an existing house design. I knew a fellow whose first act was to tear out a perfectly serviceable woodstove and chimney in the middle of his newly acquired old farmhouse. “Baseboard electric!” he boasted. “It’s 2007!” Then his pipes froze one night with every baseboard unit turned on high.
A fancy architect I knew insisted on ripping out a perfectly good double-hung window and installing French doors on a south-facing wall in a windy valley. “The snow’ll blow through,” I said. He insisted that modern materials and installation techniques would prevent snow blowing through until the January day he arrived and found that snow had blown through.
The first order of most new property owners should be…do nothing. Don’t gut anything until you’ve learned how your new house works with the climate, land and people who inhabit it.
Assuming that you pay no attention to this sound advice -- an assumption based on my wife’s practice over 24 years -- here are some tried-and-tried-again ways to avoid remuddling.
Fit it in. Modern additions should be blended into an existing structure. A hasty marriage between a domed addition and a two-story, brick colonial will produce confused offspring. Stick with a scale, materials and colors that don’t call attention to themselves. Be distinctive without being offensive.
Start humbly. While houses do exist that deserve no mercy, I’ve learned that adapting and refashioning is often a wiser first step than demolishing and starting from scratch.
For every unit of anything that is torn out, two units of replacement are usually needed. Replacements are always bigger, costlier, trickier to install and operate and more inclined toward breakdowns that are not your fault.
Start slowly. The faster change occurs, the more unpredictable its results. Confusing the necessity of change with the speed of getting it done can get things off on the right foot while ending up on the wrong one.
An environmentalist I know bought a farm and immediately erected a new boundary fence made of untreated posts, primarily maple and oak. He refused to poison the ground, he said. His posts began rotting in less than five years. But before that, he sold the place to a fellow who was enchanted with the eco-friendly fence. It was he who watched the fence fall apart, and he who replaced it.
Eat an elephant one bite at a time. Do big projects in small steps. While it will take longer, slow, incremental change gives you time to learn from the feedback of your immediate past. Small steps keep mistakes small.
If you’re new to an area, start with a small remodeling project that allows you to test the local trades for their reliability, cost and workmanship. Redoing a bathroom is such a project; building a new kitchen is not.
Old functions done better. Make sure that the property’s basic systems operate efficiently and safely before piling on new demands. Add to system capacity -- electrical, plumbing, septic -- before building additions. Check with appropriate local officials regarding requirements and permits. Avoid building before acquiring permits—a situation that doesn’t have a happy ending.
Research your help. Local construction work rests on an invisible network of trust and loyalties amongst individuals in various trades that were built over many years. Your project needs to be tapped into this network and coordinated through a contractor in good standing.
You have to fit the worker to the job. I once suffered daily headaches from a construction crew who could not read architectural drawings, a fact I learned as I watched them try to build a first floor using the second floor’s plans. A project that’s beyond your crew will not get done right.
As much as competence, you want to find a contractor who infuses your work and the job site with good feelings. Sour work crews produce bad work and needless conflict.
Remuddling is not like death and taxes. It’s not inevitable. But it is around, much like the flu, waiting for an opportunity to infect your project.
Knowing the difference between a remuddle and a remodel is your first step toward doing the job right the first time.
Curtis Seltzer, land consultant, is author of How To Be a DIRT-SMART Buyer of Country Property at www.curtis-seltzer.com.
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The following is borrowed from another source:
RISMEDIA, March 28, 2008-Most sellers have an emotional connection to their home and feel it deserves top dollar when being sold. Everyone naturally wants to get the most money for his or her product, but “sellers must not be hasty with this all-important decision,” cautions real estate expert Robert Jenson, founder and CEO of The Jenson Group. “Indeed, the most common mistake that causes sellers to get less than they hope for is listing the sale price too high.”
Jenson notes, “Listings reach the greatest proportion of potential buyers within the initial days and weeks after hitting the market. If a property is overpriced early on, it will be dismissed - or outright missed - by prospective buyers and may result in price reductions that will reflect poorly on the listing. Overpriced properties languish on the market, and most end up selling at a lower price than would have been realized had it been priced properly in the first place.”
To help would-be sellers foster maximum profits with their real estate transaction, Jenson offers these insights on the various elements that must be considered when establishing a fair, competitive and marketable sale price for a home:
1. Square footage: Total square footage is an important consideration when establishing a home’s sale price, but this is usually just a starting point for buyers who will use it to narrow down the field, but make an actual purchase decision based on many other factors. There are some general rules of thumb to know when considering a home’s price per square foot, such as smaller homes generally get a higher price/foot than large homes, and single stories will sell for a higher price/foot than a two story.
2. Location within community: Homes that back up to a busy street get, on average, 10-20% less than homes elsewhere in a neighborhood. Anticipate this type of obstacle and factor it into the original sale price to avoid inevitable price reductions down the road, which reflect poorly on the listing and will likely cause it to sell at a lower price than would have been realized had it been priced properly at the onset. Quiet cul-de sacs, golf or water frontage, lots that offer privacy are value adds that can certainly justify a higher sale price than other homes in a community - or be leveraged as an advantage against competing listings.
3. Views…or lack thereof: Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly. Just be realistic. A view that can only be had by standing on the counter from the second story looking out the window to the left simply doesn’t count, and it’s inadvisable to dupe a prospective buyer by adding this to the listing’s MLS description.
4. Upgrades and features: It’s a simple formula: upgrades = sold. For a home to sell quickly and for the price desired, it must be “finished” with as many structural and interior design upgrades as possible…and nothing’s too small to leverage in establishing a home’s price point. From crown molding to faux paining to door handles and cabinet handles/knobs with modern finishes, to more obvious upgrades such as appliances, window, counter, cabinet and floor treatments, to swimming pools and surround sound wiring…any functional or beautification enhancement to a home are considerations in establishing its true value and strategic sale price.
5. Community amenities: Guard-gated communities or those with amenities such as a clubhouse, swimming pool and/or fitness center are also elements that often raise a home’s price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value adds so that you can price your home as aggressively and competitively as possible.
6. Comparable sales: Price your home referencing sold comparables -price per square footage of other homes that have already sold in your community - up to 3-months old maximum, as looking beyond 3-months is simply not a realistic portrayal of current market conditions and may steer you in a wrong direction. It’s also as important to compare your listing to active competing listings - homes currently for sale, which is the best tool for honing an effective pricing strategy - particularly for highly motivated sellers.
7. Professional appraisal: Sellers often frown on the idea of paying for an appraisal before there’s even an offer on the table, but doing so is actually one of the most important things a seller can do in pricing a home relative to current market conditions. Want to sell the home quickly? Price it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.
8. Current mortgage conditions: The current mortgage market has tightened its proverbial belt and many lenders now require higher credit scores coupled with higher down payments, which can cash strap a buyer who will most definitely be holding out for the best deal possible. Every seller naturally wants to get the most money for his or her product, but a savvy seller will understand the mortgage industry’s impact on the buyer and will price accordingly.
For more information, visit http://www.thejensongroup.com.
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Every day since January 1 this year approximately 135 residential properties have been for sale through the Americus area Multiple Listing Service (MLS). By "the Americus area" I mean primarily Americus, Sumter County, Ellaville and Schley County, Georgia.
We are almost at the end of the first quarter of the year, and to date (March 27) 40 residential properties have been sold through the members of the MLS. That's 40 properties sold in 87 days, or roughly one property out of 135 sold every two days.
If everything about the homes for sale were equal -- and, of course, we know that's not the case -- on any given day your house for sale now would be competing with approximately 135 others for a buyer. What are the chances you would be the lucky seller that day, or the next day, since just one house will be sold in two days? Not all that great.
When you factor in all the variables -- home style, size, location, condition, price range, buyer's financial ability, and others -- your chances of having the right buyer step across your threshold is about the same as meeting that person in a bazaar in Timbuktu.
You need to do everything possible to incrase the odds in your favor. Let your REALTOR help you.
Some people say we are in a "buyers' market." But where are the buyers? Those who can qualify for a mortgage loan can take their time, look to their heart's content, and cherry pick among the homes on the market. Meanwhile, sellers are praying, "Pick me. Pick me."
If you are a seller today, you have a clear choice: Price your property to sell, or price it to sit there. All REALTORS know the biggest mistake sellers make is overpricing. It's a natural tendency for you to think your house is "worth more" than a buyer thinks it's worth. "Worth" is a subjective value, ruled more by emotion than logic or reason.
Your REALTOR knows property values from an objective point of view. Carefully consider your REALTOR'S advice about pricing your property. There's nothing wrong with getting a second opinon, but don't always pick the one who agrees with you on the asking price, or the one who agrees to start out high and come down later if you don't get an acceptable offer. You will lose valuable marketing time as buyers pass up your house for a comparable one that is more realistically priced.
All REALTORS, including me, will do a Comparative Marketing Analysis for your property to show you what comparable ones have sold for recently. That will give you a ball-park figure that you might reasonably expect to get for your property. Set your price accordingly, with a little wiggle room, and you just might get "lucky."
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Met a real nice couple of retirees from Florida today. They are trying to sell their home near Lady Lake, Fla., and are thinking seriously of moving to the Sumter or Schley County area. We looked at three places. They liked them fairly well, but didn't get too excited about any of them.
I will be stay in touch with them, and try to keep them interestd in moving up here. They would be a good addition to out local populace. If they can sell their house in Florida, they'll pay cash for one up here. Like lots of other Floridians, especially retirees, they are fed up with elbow-to-elbow people and bumper-to-bumper traffic. The old Florida is mostly gone. The only place you can find a quieter, gentler lifestyle now is south Georgia, and especially southwest Georgia. If you talk to God, thank him for allowing you to live here.
I owe my clients an apology. In my previous blog I referred to my "lousy" listings. What was I thinking? They aren't lousy, they are just what they are, and there's somebody out there somewhere who will buy every property on the market -- eventually. We just have to find them. If my clients are reading this (HA!) please accept my apology for my imprudent comments.
Nobody reads these things, so I don't need to worry.
Anyway, the Florida couple looked at houses at 236 Buchanan Rd. and 197 Barnes Rd. in Sumter County, and 343 Westwood Drive in Ellaville. I think the wife leans toward the one in Ellaville -- Judy Malachowski's house -- but the husband prefers a place in the country with some land. In other words, they will buy Judy's house if they buy any one of them. We shall see.
You all know, we're in a buyer's market now. We have lots of places on the market and hardly anyone to buy them. It's not a great time to be selling, but a good time to be buying -- if you can get financing. After the recent mortgage company debacle, you have to be able to do more than fog a mirror to get a mortgage loan. But money is still available to qualified buyers. If you are thinking about buying a house or land, get pre-approved for a loan, and you will be sitting pretty. (Buyers who are pre-approved always have an advantage over those who aren't.)
Do you ever look at "Ellaville Memories" on Yahoo? That's a Yahoo group. People with ties to Ellaville and Schley County post memories and recollections, and interact with each other. If you haven't visited the website, try it, especially of you have Ellaville or Schley County roots.
I read that Springtime Ellaville is scheduled for April 15. I hope to see you there. Also, think about attending the Ellaville-Schley County Chamber of Commerce annual meeting and dinner April 11. It's at 7 p.m. at Schley County High School. Ellaville native Steve Gurr will be the speaker. Steve is one of several Ellaville natives who made great careers for themselves, and are distinguished in their fields. Ellaville and Schley County, while not well known in the grand scheme of things, have produced quite a few outstanding people.
Who, would you say, is Ellaville's most outstanding citizen of all time?
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Date: Feb. 23, 2008
Tags: Americus, Ellaville, Schley, Sumter, Georgia, Homes, Land, Real, Estate, Sale
I just completed the e-PRO course, and am excited about implementing some of the ideas. I would like to add virtual tours to my listings. However, I have only three residential listings, and none of them is very nice. Seems a waste of money to pay for a virtual tour program for such lousy listings. On the other hand, if potential clients could see what I am capable of doing for them, I might get some better listings. I'd be the only REALTOR anywhere around my home town offering virtual tours. I'm agonizing over virtual tours -- to be or not to be.
Does anyone (beside me) know where Americus, Ga., is? Let's chat. BTW, I'm 73. Tried retirement twice and didn't like it. Any other seasoned citizens out there selling real estate?
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