As times have changed with the increase of the Internet and other technology changes; so has the perception and value of homes near mass transit systems. It used to be considered a hinderance to sell your home if you lived near the light rail systems or trains. Now, the reverse seems to be true.
A study I read recenly from California State Fullerton concluded that light rail transit has enhanced residential property values 2% to 18%. With the greatest increases being in cities with commuter rail systems.
As home prices have declined in the past few years as much as 40% in some metro areas. Homes that were within walking distance of the light rail saw their home values decrease by only 16% over the same period.
Now, if you are right on the light rail or train line your home value remained unchanged versus homes not near light rail. People did not want to be close enough to hear it; but be able to walk to it for their daily commute.
Another misperception with selling your home close to the light rail was that crime increases due to the easy access to public transportation. A study at UCLA found that to be false. It concluded that crime rates were no different in areas where there was a mass transit system than areas where one was not easily accessible. It found that the socio-economic makeup of the area influenced the crime rates; not the transit systems.
In Charlotte the area around the Lynxx line that leads to uptown has seen an increase in home sales since it's inception. As more people are conscious of the environment and the ease of use of public transportation. That coupled with the not having to sit in "rush hour' traffic has made mass transit more enticing. So, looking to sell your home? Near mass trasnsit? You may be able to get more for your home than you intially thought.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Thursday, April 29, 2010
Wednesday, April 28, 2010
Quail Hollow Golf tournament Charlotte,NC--More Than Tiger Woods
This weekend is the Quail Hollow Golf Championship here in Charlotte North Carolina. A favorite among PGA players since it's inauguration in 2003. This year the tournament has received more press than ever before because of Tiger Woods playing in it. Now, he has played in this tournament in the past. However; this is his first non major golf championship since his infidelity surfaced last year. Thus, the press and media are vying for information and to see how he handles the pressure of playing while answering questions about his home life.
But the Quail Hollow Golf Championship is more than just the story of Tiger Woods. Besides becoming one of the top spots on the tour outside of the majors; it does a lot for local charities and communities. The Quail Hollow Championship has raised over 9 MILLION dollars in 6 short years for charity. The past two years they have sponsored one of the dearest charities to me. Teach for America. A program that takes college students and they commit two years of teaching in urban and rural public schools where the children are not at the grade level they need to be at due to social or economic situations.
The goal of teach for America is to have ALL children across the United States having a fair chance to receive the education they deserve regardless of their economic status. Because today children in these schools that they help are at a huge disadvantage starting at an early age. The average fourth grader is two years behind his or her peer in a more affluent area.
So, though the talk this weekend will be about Tiger Woods playing in his first non major golf championship since the majors; remember this tournament is more than that.
Dave diCecco
Realtor/Broker
www.davedicecco.com
But the Quail Hollow Golf Championship is more than just the story of Tiger Woods. Besides becoming one of the top spots on the tour outside of the majors; it does a lot for local charities and communities. The Quail Hollow Championship has raised over 9 MILLION dollars in 6 short years for charity. The past two years they have sponsored one of the dearest charities to me. Teach for America. A program that takes college students and they commit two years of teaching in urban and rural public schools where the children are not at the grade level they need to be at due to social or economic situations.
The goal of teach for America is to have ALL children across the United States having a fair chance to receive the education they deserve regardless of their economic status. Because today children in these schools that they help are at a huge disadvantage starting at an early age. The average fourth grader is two years behind his or her peer in a more affluent area.
So, though the talk this weekend will be about Tiger Woods playing in his first non major golf championship since the majors; remember this tournament is more than that.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Tuesday, April 27, 2010
Selling Your Home..Have Your Realtor Host An Open House
The question comes up all the time now. "I want to sell my house...do you host open houses?" My answer without question is a resounding YES. In a time where the itnernet plays a larger role in home buyers search a lot of people feel that an open house is a waste of their time. They have to leave the house for a few hours on a Saturday or Sunday. A bunch of strangers are going to walk through their house. The nosey neighbors are going to stop by. It does not sell the house.
While there is validation in some of the arguments people make as to why not to allow an agent to hold an open house; the benefits far outweigh them.
First, if your Realtor is doing it right; they will market the open house aggressively. I start by advertising it on the multiple listing service and on all the major search engines and websites that the buyers are visiting to search for their home. My statistics show that my clicks on a listing that I am holding an open house that is marketed as such increase by an average of 40%. Thus you have more potential buyers looking at your home. Some of which might not have clicked on your home without it. Why not increase the amount of people viewing your home?
Second, an open house allows your neighbors to view your home. yes, they may be the noisy neighbor. However; they may have a friend or relative considering moving to that neighborhood. By them viewing the house they can be your best source for a sale. People always confide in friends and family when they are considering a move. This is one way to help someone sell your house for you. We all like to pick our neighbors.
Third, with the proper signage located on major intersections leading to your house you will draw people who may be thinking of moving but have not sat down to do some research yet. Your home may be their "dream home". In fact, this happened to me on my last open house I held. I had a prospective buyer come in from my signs. they wanted to live in that neighborhood but had not had the time to do research yet. They saw the signs and stopped by. A week later we were under contract for that home.
Fourth, the power of social media can only enhance the exposure your home will receive. I blog about each and every open house I participate in. This increases my exposure on search engines and moves me to the top of a list. if someone starts by looking up a neighborhood to find a little more information about it; the chances are they are going to see my blog about the open house and the home on the FIRST page and click on it. They may not come to the open house or may find it after the fact; but your exposure has just increased on the home to more buyers.
Fifth, an open house marketed with flyer's to potential neighborhoods that might be a move up to that neighborhood or an apartment complexes for those starter homes increases the chances of your home being on list of homes people will consider when they begin looking for a home. It might even get someone who had not thought about looking for a home to consider your home now because it is more affordable than they thought. I can attest that I have sold some homes where four and six weeks later I have received calls from buyers asking if that house was still available.
Sixth, feedback. I find this to be the most valuable part of doing an open house. I will ask each and every person that comes through the open house what they like and do not like about the house. This feedback can be vital to the seller in terms of making their home appealing to the most wide range of buyers on the market today. And with compettiton as great as it is; we all need an extra edge.
I have sold a home through each and every one of these benefits. So, if you are selling your home or consdiering selliggn your home....have your Realtor host an open house. It may lead to a quicker sale.
Dave dicecco
Realtor/Broker
www.davedicecco.com
While there is validation in some of the arguments people make as to why not to allow an agent to hold an open house; the benefits far outweigh them.
First, if your Realtor is doing it right; they will market the open house aggressively. I start by advertising it on the multiple listing service and on all the major search engines and websites that the buyers are visiting to search for their home. My statistics show that my clicks on a listing that I am holding an open house that is marketed as such increase by an average of 40%. Thus you have more potential buyers looking at your home. Some of which might not have clicked on your home without it. Why not increase the amount of people viewing your home?
Second, an open house allows your neighbors to view your home. yes, they may be the noisy neighbor. However; they may have a friend or relative considering moving to that neighborhood. By them viewing the house they can be your best source for a sale. People always confide in friends and family when they are considering a move. This is one way to help someone sell your house for you. We all like to pick our neighbors.
Third, with the proper signage located on major intersections leading to your house you will draw people who may be thinking of moving but have not sat down to do some research yet. Your home may be their "dream home". In fact, this happened to me on my last open house I held. I had a prospective buyer come in from my signs. they wanted to live in that neighborhood but had not had the time to do research yet. They saw the signs and stopped by. A week later we were under contract for that home.
Fourth, the power of social media can only enhance the exposure your home will receive. I blog about each and every open house I participate in. This increases my exposure on search engines and moves me to the top of a list. if someone starts by looking up a neighborhood to find a little more information about it; the chances are they are going to see my blog about the open house and the home on the FIRST page and click on it. They may not come to the open house or may find it after the fact; but your exposure has just increased on the home to more buyers.
Fifth, an open house marketed with flyer's to potential neighborhoods that might be a move up to that neighborhood or an apartment complexes for those starter homes increases the chances of your home being on list of homes people will consider when they begin looking for a home. It might even get someone who had not thought about looking for a home to consider your home now because it is more affordable than they thought. I can attest that I have sold some homes where four and six weeks later I have received calls from buyers asking if that house was still available.
Sixth, feedback. I find this to be the most valuable part of doing an open house. I will ask each and every person that comes through the open house what they like and do not like about the house. This feedback can be vital to the seller in terms of making their home appealing to the most wide range of buyers on the market today. And with compettiton as great as it is; we all need an extra edge.
I have sold a home through each and every one of these benefits. So, if you are selling your home or consdiering selliggn your home....have your Realtor host an open house. It may lead to a quicker sale.
Dave dicecco
Realtor/Broker
www.davedicecco.com
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