This spectacular home offered at $1.5 Million
This spectacular home offered at $1.5 Million
This spectacular home offered at $1.5 Million
Should you rent your home if it isn’t selling? Plus real life real estate stories and what will TRID do to your home sale or purchase.
Ranting and raving. This is the best way to describe the reaction we are getting for our 3D home tours. Take a look at this beautiful home in Huntingdon PA. Click here for the MLS listing for complete details. We will be rolling out additional features in our showcasing of our homes over the next few weeks. For now – take a look. There is no going back to the old 2D way of looking at a home.
Get ready for the first of many Perry Wellington Realty Power Hours!
We are holding a ONE HOUR show today on WTAJ – TV 10 the local CBS affiliate covering all of central PA. We have LOTS of PROPERTIES to show with 2 full segments of properties to showcase. We will be talking about MOLD (yuck!) and what to bring on your first night in a new home as well as upcoming changes to RESPA (zzzzz) that we hope won’t put you to sleep.
4-5pm Friday September 19th – be there or watch it later on the web at wearecentralpa.com
See you then!
Sundays in Central PA in the summer – the weather is fantastic. Don’t blink – you know how fast that can change!
Meanwhile we are out showing tons of open houses. We have had such success with open houses. I had been told by countless agents in the past that open houses don’t work, but we have found they work very well.
Open houses create an opportunity for buyers to view a house without the scheduling challenges of a scheduled showing.
Open houses allow the neighbors to help promote your home – many people find a house or neighborhood through a friend or co-worker, so an open house is an invitation for like minded people to congregate.
Open houses turn browsers into buyers. Browsers might just like your house in person and decide it’s time to make the move.
Open houses give buyers and opportunity to sample the service of an agent and see how they might ‘get along’ in an transaction.
Open houses – we like ’em.
Visit one of our open houses today. We put the information on the internet and in the local newspaper for you to check out your new home.
I have assembled sold statistics across our region. We have some interesting results. In ALL cases, the business is down from last year (which was a good year) but there are
some interesting nuggets of information in here. All numbers compare this year 2014 to last year 2013. Keep in mind that 2013 was an ‘up’ year and a recovery over 2012 overall.
In 2 of three markets the business was better in May – Allegheny Highlands (Blair/Bedford) and Cambria/Somerset both improved over last year. Cambria/Somerset was essentially flat with a 3% decrease (far better than last month with a 32% decrease). Allegheny had a 20% decrease vs. 23% last month. Centre county actually did slightly worse last month with roughly a 5% decrease.
Centre county overall is quite healthy – nearly $31Million in homes sold with 82 days on market average points to a housing inventory shortage more than anything. That is one hot market.
In all cases the word I get from agents is that there still isn’t enough inventory. Despite the houses on the market, the buyers are saying there is nothing to choose from. If you have a house to sell, now would be the time to talk to a Realtor at Perry Wellington Realty to get it on the market.
All information is courtesy of the following:
Based on information from the Allegheny Highland Association of REALTORS, Inc.
Based on information from the Centre County Association of REALTORS, Inc.
Based on information from the Cambria Somerset Association of REALTORS, Inc.
I put off writing this for a few days. I rechecked my numbers from the system generated reports. I hate to break the bad news, but the local market is down over last year, and not by a little. By a lot. A lot is a 23% decrease over last year. That is no rounding error. As much as I would like to echo the sentiment from last months 5% decline – there is simply no way you can blame the harsh winter at this point. I checked May’s number so far and ran the numbers up until May 15 for comparison and it could show some signs of recovery with a 15% increase.
In light of the numbers above I want to give you some strategies you can use to help in the sale or purchase of a home.
If you are selling make sure your property stands out from the pack. Price it correctly -forget this ‘let’s test the market’ mentality. The buyer knows better and will skip your house and not even bid. Automated valuation and information is online, and if you have a great Realtor (like one from Perry Wellington of course) with computer skills and knowledge, the buyer will know whether your price is correct. Don’t forget, when you use Perry Wellington Realty, you save on commission, so you can be the most aggressive with your price – buyers know this and understand that they are saving money too.
Prepare it for sale – fix what needs fixing. Paint and prepare and stage the home for maximum appeal.
Look at your competition – what do the other homes in your price category offer – do you match or beat their appeal?
Pictures – excellent pictures showcase your property online – make sure your agent is NOT USING A CELL PHONE (I had to shout that out) to take your pictures.
Agent – You need a good agent to pull all of this together for your online and offline strategy. Eager, high tech agents with great social media skills and connections are a new breed of agent not found at many brokerages.
Brokerage – Perry Wellington now sells more than one out of every 10 homes in the local market, and we are now in the top 3 brokerages in sales volume. We did this in just a few short years. We use the same Multiple Listing Service and other brokerages and agents can’t wait to sell our houses – remember that the buyer is in control now, so the buyer tells the agent what houses they want to tour and buy.
Forget Print – Sellers still think that print advertising works. It is a tactic used locally, but almost nowhere else. Buyers are online – not looking in the local paper, for homes. Recently we sold a home for a seller in about 2 weeks. The seller told us that they interviewed another agent, who was charging 6.75% commission and they had magazines and books and newspaper ads and told the seller this is why the seller needed to use them as their agent. These ads the agent would use have a single small phoo and an abbreviated description of the property. The seller listed with us for 4.5% and got the same result – house sold quickly. Even if the agent had used the print method, it takes weeks if not almost a month for the house to appear in the print advertisements. This just doesn’t work anymore.
You are out there, but you are choosy. You are searching day and night online – scouring the internet for the home you desire. (This sounds like a Horoscope) Here are your tips.
Be prepared – Get Prequalified with a lender to make sure you can get the bid in on the house you like and get it accepted. Choose any lender, we recommend our own, of course – Circuit Mortgage.
Be prepared – Have money in the bank – save, save, save. We have a segment coming up on on our TV Show tomorrow discussing the timeline for having your finances in order.
Be prepared – to have competition. Despite the down sales, the desirable homes in certain price points move quickly and with multiple bidders. If you really love a house, don’t lose it over a lowball bid. Step up and buy it if you want it. Inventory is still scarce in some price points and once a house sells, you will regret that you didn’t make a better offer.
Be prepared – to see houses at a moment’s notice. Make sure you have an agent who can respond quickly and get you in the door. We use teams to make sure we always have coverage.
Get a Buyer’s agent – should have mentioned this sooner. They can coach you and be there for you and represent YOU through the process. Buyers should avoid using the same agent as the seller (DUAL AGENT) because the agent then represents NEITHER YOU NOR THE SELLER (I am shouting because you need to have YOUR agent represent you and not the one who is already working for the seller).
Most of all you should have a good time, this is an exciting time for you in hour house sale or house hunting.
All statistics courtesy Allegheny Highlands Association of Realtors Multiple Listing Service.
In Podcast #29 Carrie Kobuck and Broker Adam Conrad take a drive over to Baker Mansion and Mansion Park section of Altoona. Along the way we chat about how our new policy pending properties is helping our sellers sell their homes. Check out the YouTube Video here. We also have the audio on iTunes on our iTunes channel, or you can listen to it here on our website.
One of ouragents, Carrie Kobuck noticed that out of 19 local open houses being advertised in today’s Sunday paper, that we were unique in having the only open houses which also featured a visual tour! Three of our properties actually had visual tours and if you weren’t able to make it out to the open houses, a visual tour is a great way to get to see the home day or night, 7 days a week.
Click on through for a sample of one of our visual tours, and don’t miss our open houses if you can make it! We have sold a number of homes right from the open house this year.
There are different schools of thought on the open house and whether it helps you in the sale of your home. Regardless, we are happy to do open houses. We like to meet the public and talk about houses and how Perry Wellington Realty can help you find your new home, or help you sell your home.