Winston Salem Area| To Sell Or Not Sell Your Home In The Current Market

 

Do You Find Yourself Asking This Question?

It can be very confusing when you look at the news, Zillow Zestimate ( egads!) or listen to friends.  I understand.

Hey, it’s Roby  Robertson! 

If you’re looking to sell your home and move to a new place in the coming months, I’ve just opened up slots in my calendar for free consultations so I can help you prepare for what’s to come. 

Some things I will discuss with you at no obligation:

1.  What is the price range your home would sell for?

2.  What are the real numbers with homes that have sold in this range.   We can determine if buyers are really out there.

3. Are there lender incentives that can assist buyers with purchasing a home with interest rates where they are.  

4. What does your home need to be ready for market?

Click - Property valuation: to set up your time to speak with me. 

If someone here in Winston Salem wanted to buy your home, would you consider selling it? 

The benefits: 

1. Get a free home value estimate 

2. Get clarity on your financial situation in this new economy 

3. See what's possible for you and your family if you decide to sell your home.

This is not just a sales pitch.   You truly have no further obligation. 

Winston Salem| What is a Material Fact when selling Your Home?

Helpful Information from Your Winston Salem Realtor!

A material fact is ANY fact that could affect a reasonable person’s decision to buy, sell, or lease.

What are the four categories of material facts? 

The four categories of material facts are: 

• facts about the property itself;

• facts that relate directly to the property; 

• facts directly affecting the principal’s ability to complete the transaction; and 

• facts that are known to be of special importance to a party

One of the confusing things about this category are items that relate to the property but not directly a part of the property!

Facts that relate directly to the property 

This category includes factors that are external to or outside of the property that affect the use, desirability, or value such as: 

• a pending zoning change, • existence of restrictive covenants, 

• plans to widen a street, or 

 • plans to build a shopping center adjacent to a property. 

How can zoning affect a property? 

Zoning classifications will ultimately affect how a property can be used by a client/customer. For instance, zoning classifications affect whether or not a property is considered residential, mixed use, or commercial, etc. Therefore, brokers must analyze the zoning classification of a property to determine whether or not the property can be used for the intended purpose for which it is purchased. For example, if a client/customer purchases a lot with the intent to construct a home, the broker would need to ensure that the lot is zoned for residential purposes. 

How does the existence of restrictive covenants affect a property? 

The existence or nonexistence of restrictive covenants is a material fact. However, the specific restrictions within the covenants become material facts when they are of special importance to a party. For example, if restrictive covenants exist for a property, the covenants may prohibit a property from having certain animals, an in-ground swimming pool, and/or the parking of commercial vehicles in the neighborhood. 

If these covenants do exist, they may affect how desirable the property is to future buyers. Therefore, brokers must disclose the existence of restrictive covenants, advise consumers on where to obtain a copy, and recommend consumers seek legal advice regarding the applicability of the covenants. It is not the broker’s responsibility to interpret the covenants.  

Thinking of Selling Your Home?   Visit www.RobyRobertson.com

Disclosure when selling Your Home! Winston Salem

The NC Real Estate Commission analyzed all of the disciplinary cases published in the eBulletin for 2020-2021, to determine the most common violations under License Law and Commission rules. Although the Commission does not have formal categories for cases, some cases fall into more than one category which results in brokers having multiple rule violations 47% of all violations were related to disclosure of material facts. These can result in disciplinary action and/or civil litigation for both agents and clients! Below is from a recent discussion in continuing education 

“See No Evil, Say No Evil” (see note at end) Jake, A broker with A+ Realty, meets with Peter, a property owner, to provide a listing presentation. During the meeting, Peter says that he recently had a home inspection that indicated water leakage in the basement walls and crawl space, but that he has ordered no further inspections to verify the issue or determine repair needs. Jake tours the property and observes no moisture or standing water. Peter decides to list the property with Jake. On the Residential Property and Owners’ Association Disclosure Statement, RPOADS, Peter selects “No Representation” to all of the questions. Throughout the listing period, there is no visible evidence of moisture or water, so Jake does not mention Peter’s inspection report to any of the prospective buyers. 

 1. Did Jake fulfill his duties as a broker? YES/NO Answer: No. 2. Why or Why not? The answer is NO! 

 a) Although Jake did not personally observe any moisture or standing water, he still had an obligation to disclose the water leakage in the basement walls and crawl space.

 b) Because Jake has an obligation to disclose whether he personally saw any water or not. 

 c) Because the owner, Peter, already checked “No Representation” on the RPOADS.  

d) Because Peter’s completion of the RPOADS relieved Jake of any additional disclosure obligations< 

 Note: In my past experience, it was felt that an issue already repaired does not have to be disclosed. However, we learned that it is best to disclose this. Some sellers will not want to disclose as they feel it will hinder the sale. However, we believe it shows good faith and also protects listing agents (me) and my clients from any future litigation. It is up to the buyer's agent to protect his/her client by getting the repair inspected. I sure would!

Thinking of selling?   Visit. www.RobyRobertson.com

Roby Robertson, Your Realtor and Friend

I have been a Realtor and Property Manager for 20 plus years now and I feel I have been pretty successful.   Heck, making it that long in this business has been interesting and a challenge.

I  like what I do and have the intention of retiring because of that enjoyment.     However, even at my age and years in the business, I struggle with marketing decision making and growth. 

A lot of real estate is about marketing and it is so easy to throw good advertising money at bad advertising.   I have always thought about my chick flick favorite movie ‘The Notebook’ when Ryan Gosling says to Allie in a forceful way ‘WHAT DO YOU WANT’  and how I can use that in marketing.

When someone becomes a customer, I feel I can always give them what they want and do a great job for them.   With all the competition, I struggle to get that message across without sounding salesy like everyone else.   I also often wonder if it is a beauty contest since we all put our pictures on everything.   I sincerely hope not because I feel like I lose every time  up against the glamor shots and the young guns.

I will just say this.   I work hard for my clients and look out for them.   Don’t know how else to put it. 

        

Did You Know? The Government is making adjustments to loan costs in an effort to help people buy homes.

 If you're looking to buy a home this spring or summer, the Federal Housing Finance Agency is making a change to Loan Level Price Adjustments starting May 1.

LLPA's are those upfront fees when you buy a house that varies based on things like your credit score and your down payment. The changes will apply to Freddie Mac and Fannie Mae loans.

If you have a high credit score, your costs are going to increase by as much as 0.75% if you apply for a loan. And if you have a lower credit score, your fees will decrease by as much as 2%. Financial experts say if you have a high credit score, you’ll still pay less than if you have a low one.

But the penalty for having a lower credit score will be smaller than it was.

Why is this happening? The government is trying to make home-buying more affordable for more people. Here’s more information on how the fees could affect you from Fannie Mae.

If you are thinking of selling your home, please visit www.robyrobertson.com and check out the document ‘Selling with Roby’

Also, if you are buying or selling a home, check out this app Nester.  

What to Consider Before Selling Your Home

 Selling your home is a huge leap forward in your life, so it's vital to be as prepared as possible before you put it on the market. Small changes can make a huge difference in how much your property is worth.

 

Before you list your home, take the time to consider each of these ideas and think about the impact they'd make on the price you can grab for it. 

1. Does the Exterior of Your Home Shine?

One of the biggest things to keep in mind when you're selling your home is that the exterior needs to wow and impress! This is the first part of your property people will see when they pull up and the first thing that will influence their opinion on whether or not they want to buy your property.

 

To update things, look into adding a brick cladding system, or check the brick cladding on your property and make sure it's in good shape and able to protect the property. Creating a safe and inviting home is vital to getting buyers in the door.

2. What Do Your Listing Photos Highlight?

When people look at your home's listing, the photos need to pop up and tell them to look at your home more. Not only should they be high-quality, clear, and well-lit, but these photos should also be able to guide their eyes from room to room to show off the details that make the property incredible.

 

Highlighting areas like a gorgeous white stone fireplace will make a lot more sense than catching a great photo of the bathroom sink. Take your time, and be purposeful in the angles and subject matter you choose. Hiring a professional photographer can make this step a lot easier!

3. Is There Noticeable Dust or Debris in the Home?

Dust and debris in a home can scare away buyers in the blink of an eye. When people are picturing their future in a home, they don't want to be confronted by gross debris and skin shed by whoever owns it first.

 

Deep clean the entire home, but focus your energy especially hard on areas like bathrooms, kitchens, and laundry rooms. These areas are especially prone to dirt and gross residue, so wipe that away and clear the minds of buyers.

4. Have You Staged Your Property?

Did you stage your home? A staged property will sell faster while also bringing in far more money than a home that fails to do so. You can stage using your own furniture if you have modern belongings, but most sellers turn to furniture rental companies that will stage the house for you.

 

This lets your home look brand new and professionally decorated without causing you to go deep into debt buying furniture that you don't want or need.

5. How Old is Your Roof and Siding?

Your roof and siding will need to be updated every twenty to fifty years, depending on the materials and the weather conditions of the area you're in. A wood shake roof can look incredible, but if you don’t properly maintain it and keep it in good working order, it could prove disastrous for your home’s value.

 

The older these parts of your home are, the less likely buyers will be interested in sealing the deal. Update them for that good return on investment every seller wants.

6. Can Your Home Handle Moisture or Water Damage?

Water is one of the most destructive forces out there, able to whittle away wood or stone over the years or floor a home and ruin it from wall to wall. If you want to protect your property and give buyers a chance to have faith in the house they're looking at, look into waterproofing technology.

 

Not only will this keep moisture out, but it can help lower insurance rates and give buyers peace of mind in a wild climate that's been shifting over the last few years.

7. Are All Brick and Stone Surfaces in Good Shape?

Brock and stone are huge deals in 2023, as many buyers are looking to return to natural textures and more earthy tones. Consider power washing the exterior of your home and heavily cleaning any surfaces of these materials on the interior of your home as well. These are the stars of the show, so it's vital that you let them shine.

 

If your home doesn't have any brick or stone but instead has a lot of natural wood, make sure to make that shine instead. Work with what you have, but make the buyers think it's a dream come true.

Your Home Should be an Eye Catcher!

Whether your home is sixty years old or six months old, you should be able to sell it in no time. Follow some of these ideas before you put your property on the market: they could make you hundreds of thousands more. 

Courtesy: Max Shafer. a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Land O’ Lakes, Florida where he enjoys spending time with his wife and researching real estate trends in his free time. Max’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource launching in Fall 2022.

No Substitute For Exerpience in WInston Salem Real Estate

 Funny real estate story (at least it is funny now).

I had mentioned in a previous story that I had started as a part time Realtor and was not very good.   I can tell you from experience you do not get good at this until you have had many real life experiences.    You would probably agree that this is the same with everything we do in life.

One of the 1st transactions I ever did was to help a family from NY find a new home.   We found one that was perfect for them.  It had just been built by an individual builder.   As part of his marketing, he included appliances in all the marketing.

Fast forward to the closing day.   Everyone was very excited.   The buyers got the keys and met the truck to move in.   All I can say is the fun started.   The builder had removed the brand new refrigerator!!   My inexperience led me to think that since it was new construction and all the marketing showed the fridge, that it would be left for them!   

Wrong!    The contract has a place for personal property.  I learned an expensive and important lesson.   ALWAYS list the items the buyer wants in the contract even if the seller has disclosed it conveys.   Better to be safe than sorry…

Needless to say that the buyer got a great closing gift from me (a new refrigerator) and they did become lifelong friends!   There is NO substitute for experience.