Cary Real Estate Blog

To Update or Not To Update, That Is The Question…

In our area (Cary, NC) and most areas, the kitchen is the heart of the home and what can make or break an offer.  So if your kitchen is looking a little outdated, but it is time to move on to another home, the question stands: to update or not to update (and what to update).

 Let’s look at a simple case in point.  We currently have a home for sale in a desirable neighborhood in Cary, NC.  This piece of property has a wonderful lot with mature trees, great deck and patio, manicured lawn, great curb appeal and a FABULOUS screened in porch (or 4 season room).

    Isn’t it beautiful? Almost like a showroom…

The floor plan is great and versatile enough for a retiring couple, family with small children or a house full of teenagers.  What’s the kicker?  The kitchen.  It is in need of some (not tons) updating.  The cabinets are in very good shape and the layout is good, but the solid surface counter tops give it a dated, tired, older look. 

Now, are these just my impressions?  No.  This home has had many, many showings (more than 30!), but the feedback is almost all the same.  Great sun room/screened in porch, great lot, etc., but the kitchen looks dated/the kitchen needs updating/client doesn’t want to take on hassle of updating the kitchen/client is looking for granite counter tops.  You get the gist.

It has been on the market a while and we have all this feedback, what to do?   Options: update the kitchen or lower the price.

My suggestion: replace the countertops.  Cost? Approximately $4,800.  I think it gives you the biggest bang for the buck.  Once the granite is installed, the whole kitchen looks like new, even the cabinets and floors feel warmer.  Will it make that much of a difference?  Take a look at another home where we replaced the countertops with granite and see what you think:

BEFORE                                                      AFTER

Doesn’t it look warmer, more inviting, more updated?  What do you think? 

To Update or Not To Update?

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There are three key components to consider in selling your Cary home in today’s real estate market - Price, Listing Agent, and the condition of your home. Now, more than ever these factors are critical as to whether or not your home sells.

The challenge in pricing your home in today’s market is that past sales data is no longer a good indication as to what a home will actually sell for. There are now more sellers than buyers and in some price ranges we have an 18 month supply of homes. So finding the right listing agent is essential - choose an agent that knows all aspects of the area well (schools, neighborhood amenities, golf courses, info on your competition) and has the experience to price your home correctly in this changing real estate market.

Regarding our real estate market, in the past few years while the sale of homes in the rest of the country have slowed down, the Cary area has been a booming success for national builders like Centex and Pulte Homes. Now, they have overbuilt and sales have slowed down. Third quarter statistics from 2007 indicate that home closings have dropped in Cary by 14% compared to the same quarter in 2006. Morrisville home closings are down 43% and Apex home closings are down 8%. Third quarter statistics show that 35% of the sellers in the area have reduced their sales price.

Condition of your home in a competitive buyers market is more important than ever before. Remember, you are competing with thousands of new homes in the Cary area and your home must show like a model home. For tips in preparing your home to sell, please visit www.CaryHomesNC.com.

The bottom line is that in order to actually get your home sold, pricing your home closer to the 2006 value will give you a better chance of success than adding on any appreciation for 2007. To attract a buyer to even make an offer in today’s market, they need to feel like they are getting the best home for their needs at a very competitive price.

Please comment with any tips that you have found helpful in selling a home in a highly competitive market like we have now in Cary NC.

Dave Goulding

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Or actually, the better thought is getting your home ready to SHOW in a competitive real estate market. In today’s market, more than ever, homes for sale in Cary, NC must be in their best showing condition.    Everyone has heard the basic suggestions about getting your home ready to sell.  In our real estate area, Cary, NC, the first thing to do is to make sure your home has good curb appeal.  Clean up the yard, add some flowers and mulch or fresh straw.  Sit in your parked car in front of your house - what can you see?  If you cannot see the windows or doors because of the shrubbery, trim it back.  Do the gutters look full?  Are the windows clean?  Do all of the outside lights (including the floods) have working bulbs?  Just pretend you are the real estate agent driving up with a potential buyer in front of your home.  The next is inside - depersonalize your home.  Pack up the beautiful pictures of your family that will make people focus on your family instead of your home.  Clean out the closets, declutter, make your rooms look more spacious, etc.  Each time a potential buyer opens a closet they should feel a sense or order and calm, not a sense of chaos and overcrowding.

But there are some other, not so well known or recognized, things to do to be ready to show your home.  We have found these to be helpful over the past couple of years:

• Check the air intake grate for your AC unit.  Is the grate dusty?  Do you need a new filter?  Take some time to really look at it.  It not only makes home buyers wonder if your home has been well  maintained, a clogged filter can leave a ‘dusty’ (for lack of a better word) smell when the heat or A/C kicks on.
• Clean your doors, door knobs, and light switch plates.  You don’t see the dirt, because you go in and out of your rooms hundreds of times a day.  It’s not hard to spend a few minutes with a cleaning eraser.  In fact, it is a good project for children to help with.
• Give your blinds a dusting.  We know to keep them open so the home has a bright feeling, but give them a dusting too.
• Remove or box up any prescription medications you don’t need on a daily basis.  These bottles can leave a medicinal smell in your bathroom that you may not be aware of.
• Scrub your bathrooms and leave your shower curtain open half way.  A closed shower curtain shuts off the room and makes it seem smaller.
• Keep any personal items off the counters in the bathroom.  Besides giving your bathroom a cluttered look, you don’t want strangers to be looking at your toothbrush (when was the last time that was changed?).
• Remove any extra rugs from the hardwood floors.  Make the rooms flow together by being able to see the hardwoods.
• Always put out fresh towels before a showing.  Neat and nice.

This is just a small list of the things that you can do to make your home show beautifully so that you can get top dollar for your home investment.   We, at LG Real Estate,  offer more ideas at http://www.caryhomesnc.com/ready.htm.

Our homes in the Cary NC real estate market are known to be at top quality showing condition.  Our fellow real estate agents have a sense of comfort that when they show one of our homes, it will be in top condition. 

What other ideas have worked for you when you listed your home?

Let us know…

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With the holidays approaching (and really almost here…), you may feel some trepidation about putting your home on the market.  At LG Real Estate in Cary, NC, we advise our clients that while most of us believe that spring and early summer are the “high season” for selling, the holiday season can be equally promising if your home is priced right and cosmetically appealing.

 Most people move due to job changes, and therefore relocation to the Cary, NC area happens year round.  Since the holidays are busy for all of us, buyers are particularly motivated during this time of year.  It may be inconvenient for you to put your home on the market during the winter, but if you follow a few tips, you can succeed. 

First, realize that your home’s value doesn’t depend on the season.  Just because you missed the summer season doesn’t mean your home’s value has decreased.  Economic factors combined with supply and demand are more influential than anything else.  On the flip side, overpricing on the basis of wishful thinking will also get you into trouble.  Buyers have more information than ever (on homes for sale in any area) to know whether or not they are paying the right price for a home.  Nothing stalls a home sale like over pricing. 

Second, don’t overdo the holiday decor when you’re selling your home in the winter.  This isn’t to say you shouldn’t have a festive wreath on the door.  Instead, consider how holiday decorations might impede a buyer’s ability to assess your home and its space.  For example, if you have a beautiful banister, you don’t want it covered up with temporary greenery.  And the enormous tree you’re accustomed to having in the corner of the living room may make the space look smaller than it really is.

If you are looking for other ideas of what to do to get your home ready to sell, visit our website: www.CaryHomesNC.com or call us at the office of Lenda Goulding, LG Real Estate, 919-653-2647. 

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You see the ads for a flat-fee or discount broker that get you thinking, “Maybe we could sell the house ourselves.” It’s tempting, especially with the handsome asking prices and potential for profit we see in the Cary, NC real estate area. Discount brokerages seem like a great idea. You get Triangle area MLS exposure and you bypass the traditional commission fee of 5 to 7 percent. But if you don’t have the time to handle the selling process: accurately price, stage, market, and show your house, negotiate the sale, then deal with the inspectors and everything else that comes with four weeks of closing activities, is it really worth it?

Just last month we helped a couple who spent months trying to sell their home in Cary, NC with a discount broker to no avail. When they called LG Real Estate (formerly Lenda Goulding & Associates), we went straight to work staging and pricing their home correctly, and within a short period of time, we found a buyer who couldn’t wait to move in. We handled all of the closing details; details that would have driven them crazy if they had to work them out alone—and would have probably killed the sale. The higher selling price, quicker sale, and personal attention to the marketing, selling, and closing details more than covered the commission. Hire our team at LG Real Estate, and we’ll do the same for you. With the right staging, marketing, and negotiations, we will get you the highest price the market will bear for your home.

We know your Cary, Apex or Morrisville neighborhood, and we know the homes that have sold throughout this Cary NC area. Recent sales price data doesn’t tell the whole story—large amounts of money could have been given up for decorating allowances, closing costs, or inspection repairs. You need an expert to price your home correctly.

Once your home goes under contract, we cover 57 tasks from contract to closing. Just one misstep could cost you the potential dollar savings of doing it yourself. If you are planning to sell your home, I urge you to call us. At LG Real Estate, we can often make up the difference in the amount you pocket after your home sells by not only doing it right, but doing it fast. Check out our website for more detailed information at www.CaryhomesNC.com.  Call us at 919-653-2647.

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