This question might seem trivial...but it could cost you thousands of dollars in negotiations and a home you settle for instead of the one you want. I show a lot of homes and have seen homes that need a complete makeover to ones that you could walk right in and never do a thing for the next ten years and probably everything in the middle. What gets me is when a Realtor tells me that their buyer chose another home because the cost to update was to much versus my house. Yet had no idea of what the cost of the update would really be.
I sold a house to a nice young family. When we looked at the house we were comparing it with a house that someone had renovated a few houses down. The first house needed new appliances, counter tops, carpet, paint, and a kitchen floor. All these items were done in the other house. The price difference was a good difference apart. I advised my clients that we should measure the rooms and counter tops and check to see what it would cost to put what the other house had in it in this house. Paint is relatively inexpensive so that was easy to add to the cost.
In the process of me getting them some quotes to duplicate the counter tops in the other house and the flooring and them shopping the price of appliances around the makeover house sold. We gathered our numbers and made an offer on the other house based on what it needed. Converted the loan to a rehabilitation loan (which allowed us to roll in the cost of the repairs and work into the loan). Agreed to acceptable terms and came out after all the work was done 15% LESS than the other house.
What made me write this today was I went and visited them this morning and they wanted to show off their new house with all the repairs done to it. They had become friendly with the neighbors who bought the other house. When the neighbors found out what they were doing and how much it cost...they were shocked. They said their Realtor told them the cost was to much and that the other house was a better buy. Then I was talking with a Realtor whose client had narrowed their choices of houses down to 2 (one being mine) and said they went with the other house because the cost of updating was larger than the difference in price based on looking at it.
Not being a licensed contractor I am in no position to tell someone what is a better purchase in regards to buying something already done or one I can get to that shape. For some people they do not want to do anything but move right in. Others do not mind if they can save some money. Everyone needs are different....But are all your options explained to you and are you getting the right information before making a decision?
This one buyer paid 15% more for in essence the same house.... The one who bought the other house was priced $40,000 more than mine. My seller had received quotes on the updates at approximately $25,000 to $30,000 but since she was moving elected not to do them.... So, is the house all done really the best deal? Sometimes YES and sometimes NO.....
Dave diCecco
Realtor/Broker
www.davedicecco.com
Thursday, July 28, 2011
Wednesday, July 27, 2011
Charlotte, NC. 2nd Among Kiplinger's Best Value Cities
Kiplinger magazine yesterday revealed it's top ten metro cities for best value and Charlotte, NC. was ranked second. It is no surprise to the people that live here that Charlotte has been named in many magazines best places to live or work.
Kiplinger based their study on various factors. They used a formula that factored in the cost of living in the city, the strength of the economy and the amenities that the cities had to offer.
Charlotte had a low cost of living index and as the think tankers said it may be the best kept secret in the south. With our diversification Charlotte is not poised to be boom or bust by one industry. yes, we are the second largest banking capital in the United States behind New York. But Charlotte is also home to one of the largest energy companies in the United States in Duke Energy. Many Fortune 500 companies call Charlotte their home.
One of the main reasons Kiplinger picked Charlotte, NC. as number 2 on it's list was companies are drawn to Charlotte because of it's family atmosphere and amenities. Charlotte is so centrally located in the south it makes it an ideal location. With the largest school system in the state and still managed to have 14 of our 33 high Schools recognized by Newsweek on their list of top 1600 high schools in the country. The fact that a large city such as Charlotte has been able to provide top notch education is no stranger to the residents of Charlotte.
But Charlotte is also very affordable and going more green every day. We boast some of the lowest taxes and utilities cost around and a recent article had North Carolina as the lowest cost for home buyers for closing costs. That and the commitment that the city has made to the greenways has helped shape the future of Charlotte. With over 33 miles of greenway and more being constructed everyday Charlotte has become a green friendly city.
But in addition there is a lot for the family to do here from sporting events, to museums, to art galleries, to live music and concerts...no matter what your taste Charlotte has something to offer everyone....
I realized six years ago how great a value Charlotte was and now the rest of the country is as well...
Dave diCecco
Realtor/Broker
www.davedicecco.com
Kiplinger based their study on various factors. They used a formula that factored in the cost of living in the city, the strength of the economy and the amenities that the cities had to offer.
Charlotte had a low cost of living index and as the think tankers said it may be the best kept secret in the south. With our diversification Charlotte is not poised to be boom or bust by one industry. yes, we are the second largest banking capital in the United States behind New York. But Charlotte is also home to one of the largest energy companies in the United States in Duke Energy. Many Fortune 500 companies call Charlotte their home.
One of the main reasons Kiplinger picked Charlotte, NC. as number 2 on it's list was companies are drawn to Charlotte because of it's family atmosphere and amenities. Charlotte is so centrally located in the south it makes it an ideal location. With the largest school system in the state and still managed to have 14 of our 33 high Schools recognized by Newsweek on their list of top 1600 high schools in the country. The fact that a large city such as Charlotte has been able to provide top notch education is no stranger to the residents of Charlotte.
But Charlotte is also very affordable and going more green every day. We boast some of the lowest taxes and utilities cost around and a recent article had North Carolina as the lowest cost for home buyers for closing costs. That and the commitment that the city has made to the greenways has helped shape the future of Charlotte. With over 33 miles of greenway and more being constructed everyday Charlotte has become a green friendly city.
But in addition there is a lot for the family to do here from sporting events, to museums, to art galleries, to live music and concerts...no matter what your taste Charlotte has something to offer everyone....
I realized six years ago how great a value Charlotte was and now the rest of the country is as well...
Dave diCecco
Realtor/Broker
www.davedicecco.com
Tuesday, July 26, 2011
How Do You Choose A Realtor In Charlotte, NC?
How do you find the right Realtor to work with in Charlotte, NC.? I was asked this question the other day by an out of state buyer that is moving to the Charlotte, NC area for his job. his compnay is not offering him a relocation package so he and his family are on their own when it comes to finding a Realtor and looking for and purchasing a house.
A very good question and one that I could not come up with an answer right away for. Of course my first response was you already have; you found me. But in reality how does one know if a Realtor is right fit for them and vice versa. I have had my share of conversations with potential buyers and sellers where, I walked away either in person or over the phone, knowing that this was not a good fit for me or them. Sometimes they wanted to go with me and I have had to politely refuse and other times they realized the same thing and we parted as friends. But when you are doing this through e-mail and phone; how do you know you have the right Realtor?
I knew the buyer was nervous by the tone of his voice; he had heard horror stories about people relocating to areas and not knowing anything and ended up with a bad deal...Yes, it happens. But it is not the norm. No matter what profession you are in for everyone good story you have I can find a bad one. It is all about perception, luck and the events at that time.
I told him that I have dealt with a lot of out of state or area buyers and sellers in the past and currently right now. In fact; a couple of my lsitings I have never met the seller. I have done everything through the phone, e-mail and fed-ex. These people have trusted me with the largest sale in their lives; selling their home. I have gotten them sold and closed and if they walked down the street in front of me I would never know who they are.
I have had numerous buyers I worked with that were from out of state. I have provided them with information, listings, and various websites to help them in their buying descsion. then I have met them to view homes. And each time the transaction has gone rather smooth.
But why do I have so much success with people I never met? Is it my award winning charming personality? Is it my aggressiveness? Is it my dedication to my career? Is it my knowledge? Is it beign in the right place at the right time? Is it my blog where I provide answers to questions peopel want to know? Is it my follow up? Probably some combination of all the above....
I told him that when you found the right Realtor to work with you....you will know. Trust your instincts and your gut feeling and you probably will be right. By asking a lot of questions and probing you get a feeling for the person you are dealing with. That person and you will know if you are right for one another. after a lenghty conversation ( 43 minutes according to my cell phone) he agreed to have me represent him.
So, I asked him what made hm decide to choose me over another Realtor. He was quite frank. You never pushed me to work with you and you asked me questions about my needs and wants. I felt you interviewed me as much as I interviewed you...I felt comfortable with our converastion and knew you were the right fit for me.
Funny, i felt the same way......I think it was becasue I learned early on from my parents that to be successful in life you have to live by one simple rule. "treat others as you would want to be treated".
Dave diCecco
Realtor/Broker
www.davedicecco.com
A very good question and one that I could not come up with an answer right away for. Of course my first response was you already have; you found me. But in reality how does one know if a Realtor is right fit for them and vice versa. I have had my share of conversations with potential buyers and sellers where, I walked away either in person or over the phone, knowing that this was not a good fit for me or them. Sometimes they wanted to go with me and I have had to politely refuse and other times they realized the same thing and we parted as friends. But when you are doing this through e-mail and phone; how do you know you have the right Realtor?
I knew the buyer was nervous by the tone of his voice; he had heard horror stories about people relocating to areas and not knowing anything and ended up with a bad deal...Yes, it happens. But it is not the norm. No matter what profession you are in for everyone good story you have I can find a bad one. It is all about perception, luck and the events at that time.
I told him that I have dealt with a lot of out of state or area buyers and sellers in the past and currently right now. In fact; a couple of my lsitings I have never met the seller. I have done everything through the phone, e-mail and fed-ex. These people have trusted me with the largest sale in their lives; selling their home. I have gotten them sold and closed and if they walked down the street in front of me I would never know who they are.
I have had numerous buyers I worked with that were from out of state. I have provided them with information, listings, and various websites to help them in their buying descsion. then I have met them to view homes. And each time the transaction has gone rather smooth.
But why do I have so much success with people I never met? Is it my award winning charming personality? Is it my aggressiveness? Is it my dedication to my career? Is it my knowledge? Is it beign in the right place at the right time? Is it my blog where I provide answers to questions peopel want to know? Is it my follow up? Probably some combination of all the above....
I told him that when you found the right Realtor to work with you....you will know. Trust your instincts and your gut feeling and you probably will be right. By asking a lot of questions and probing you get a feeling for the person you are dealing with. That person and you will know if you are right for one another. after a lenghty conversation ( 43 minutes according to my cell phone) he agreed to have me represent him.
So, I asked him what made hm decide to choose me over another Realtor. He was quite frank. You never pushed me to work with you and you asked me questions about my needs and wants. I felt you interviewed me as much as I interviewed you...I felt comfortable with our converastion and knew you were the right fit for me.
Funny, i felt the same way......I think it was becasue I learned early on from my parents that to be successful in life you have to live by one simple rule. "treat others as you would want to be treated".
Dave diCecco
Realtor/Broker
www.davedicecco.com
Subscribe to:
Posts (Atom)