Sheri’s Blog

While it is true that Huntsville has seen a decline in home sales and pricing, there’s no reason to hit the panic button. As history shows, our real estate market is cyclical, based largely on the state of our economy, which will, overtime, improve. But what do you do if you’re a seller,  and need to sell your home in the upcoming months? First, you must be realistic about “value”. Your house is worth exactly what a buyer is willing to pay. Buyers determine “value” based on other home sales in your neighborhood. And in this market, buyers are largely concerned about overpaying, particularly if they believe values will be coming down. Right now “pricing” and “presentation” are the keys toward a successful home sale. Pricing your home at fair market value, and “staging” your home will bring you the needed traffic to generate an offer. But here’s another thought. In a down market, though you may lose money on your existing home, you will gain more on your purchase. For example, if the market is down 3%, your $200,000 house would be worth $194,000. However, that $400,000 house you’ve been eyeing would now be worth $388,000, making your net gain $6,000! A down market is a good time to trade up!

Dear Homeowner,

Have you noticed…

• Small cracks in the drywall above windows and doors
• Small cracks in the exterior brick motor
• Funny smells
• Floors feel a little uneven
• Sound of water dripping in the walls
• Allergies flaring up (nose running, eyes watering, etc.)

These are my invitations to come visit me, your crawlspace. I know you probably don’t want to visit me anymore than you do the dentist, but you need to, before the pain gets bad- maybe real bad.
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Yesterday, I was talking to a gentleman about his home. He and his wife have decided to try their luck at selling “by owner”. They have priced their home well over $500,000. And though the neighborhood is nice, this seemed extremely high to me. When I asked how they arrived at the asking price, he said they based it on what they invested in the home over their last seven years of occupancy. This included necessary repairs (there had been many structural problems) as well as upgrades.

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This month, I worked with a family relocating to our beautiful Madison County, Alabama. We had begun our correspondence over the internet, after they expressed great interest in one of my listings. They were very excited about their relocation, and couldn’t wait to fly here and explore, hoping to find the home of their dreams. So they planned their trip, and feverishly began emailing me homes that they wanted to see once they arrived. They felt eager to buy, and came with checkbook in hand, ready to put down earnest money on a home.

Sure enough, they found a beautiful house that they loved, and we wrote up an offer. The only issue with the offer was they wanted to sell their current house before they bought a new one — to avoid a double mortgage payment. So, the offer was contingent on the sale and closing of their existing home.

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The business of selling a home is just that… business. That is why finding the right Realtor for the job is one of the most important steps in the process. Unfortunately, all too often sellers make decisions based on emotion, which costs them money and time. Here are three top mistakes sellers make when choosing a Realtor.

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This is a fun poem that I whipped up for all of my sellers.

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A Home is a Large Investment!

After deciding to buy a house, folks often begin by surfing the internet — looking at the Multiple Listing Service (MLS), driving around neighborhoods of interest, and stopping by at open houses. Before long, they are bound to find some homes they would like to see, and they may make phone calls to the listing agent or to the homeowner (for FSBO’s). In either case, at this early point, it is often the case that the buyer does not have an agent working for them.

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