Hendersonville, NC

Hendersonville will be showing its patriotic pride on Saturday, July 4th, in celebration of the birth of our country. If you are a car enthusiast, head to Jackson Park from 2-9pm for the Fourth of July Cruise-in of antique cars sponsored by the Hendersonville Antique Car Club. While you're at Jackson Park, you can enjoy food, beach music by The Embers, crafts and fun for the kids. Just make sure to bring a chair. Jackson Park events will culminate in a fabulous fireworks display at dusk.

The Independence Day Parade will be held on Main Street at 11am, too. Don't miss it! I'll see you there.

Rich Cooke - The Cooke-Knapp Team, Keller Williams Realty - Mountain Partners

Smart selling requires that you prepare your house for market by evaluating its physical condition, including systems such as plumbing, heating and electrical, and components such as the foundation, roof, doors and windows, floors, fixtures and finishes. The time to begin the evaluation depends on how soon you want or need to sell. If you know the house has been well maintained, less time is needed. In most cases, allow thirty to sixty days before listing.

Today most buyers demand that a house be in move-in condition, meaning that it's structurally sound, in good general repair with no obvious signs of deferred maintenance, and meticulously clean, attractive and inviting. If your house doesn't look ready to occupy, buyers will quickly move on, knowing they have many options. Don't expect that you can skip doing the work, put the house on the market and offer a price reduction or repair allowance. Buyers will have difficulty picturing how the house might look with new carpet or neutral paint colors, so you risk taking an even longer time to sell, getting no offers, or eventually getting an offer that is far lower than you anticipate. That's a waste of money, time and effort. Keep in mind that you're competing against new construction in pristine condition, often with buying incentives from the builder, well-maintained, existing homes and homes in foreclosure selling at a greatly reduced price.

You're probably already aware of some necessary repairs and other chores to address. Create a list of things to do, and decide if you can manage them yourself, or if you need help. Get estimates, develop a budget and proceed according to your selling timeframe. Consider getting a seller's home inspection if you suspect any serious problems, because known defects must be disclosed. Correcting them at this stage will cost you less in the long run because the buyer's repair estimate or demanded price reduction will always be more than if you had done the work before listing. Even minor disrepair can make a buyer worry that there are larger problems, so be thorough. Cosmetic preparations are equally important, and we will discuss them next time.

Smart Selling Tip: Before listing your house for sale, evaluate its condition and make any needed repairs. Don't plan to lower the price and skip doing the work because it will cost you time and money.

©2009 Sandy LeRoy and Mary Stephens

Smart Selling is collaboration by two local businesswomen whose work is directly connected with the real estate industry: Mary Stephens of Prudential Lifestyle Realty (mary@ronstephensproperties.com) and Sandy LeRoy of Sterling Property Services (sandy@sterlingpropertyservice.com). Thanks to Lue Kirchner for her insights on this topic. Questions and comments invited.

Taking the right steps in the right order is how you get the best results when selling your house, but it doesn't always happen that way. Instead, here's how it often goes: You decide to sell and call a real estate agent who looks at the house and makes a few basic recommendations on getting it ready. Then the agent compares similar houses in the area and proposes a marketing plan and listing price. Once you sign the listing agreement, North Carolina law requires that your house go on the Multiple Listing Service (MLS) within three days, allowing very little time to be certain it looks its best. Pictures are taken anyway and the listing is published on MLS, the internet and in the newspaper. What's wrong with doing things in this order? Isn't it the way everybody sells their house?

The traditional sequence of steps works against smart selling in several ways. Real estate agents can only price and market your house as it exists, not as it could be, and their impressions can negatively affect the recommended listing price. They're experts in real estate marketing and negotiations, but many agents are not necessarily specialists in applying design principles to the preparation of a house for sale. As a result they don't always know what to suggest. There are diplomatic issues, too. Your agent may feel reluctant to be candid about potentially sensitive topics like cleanliness, odors, or work they feel is needed, so they spare your feelings, protect the relationship with you and say little or nothing about these problems. It's understandable, but as a result, your house often isn't presented in its best light, so you risk a longer selling time and a smaller profit. In today's market that's a major misstep.

We recommend a different sequence of events. Begin by educating yourself about the local market and the competition you can expect. Then evaluate your house in terms of repairs and cosmetic issues and enlist the help of objective professionals such as a home inspector and a stager, before calling your agent. These specialists are trained to give you the candid, objective assessment and guidance you need. Their goal is to help you, so listen to their recommendations with an open mind.

Smart Selling Tip: By taking the right steps in the right order, properly preparing your house and pricing it correctly, you can increase profit potential and decrease time on the market.

Smart Selling is a collaboration by two local businesswomen whose work is directly connected with the real estate industry Sandy LeRoy of Sterling Property Services (sterlingpropertyservice.com) and Mary Stephens of Prudential Lifestyle Realty (ronstephensproperties.com). Special thanks to Lue Kirchner of Key Associates. Questions and comments invited.

The Henderson County chapter of the American Red Cross is holding its annual blood drive at Grace Lutheran Church in Hendersonville on June 25th all day long (7am-6pm). All donors will receive a free Operation Blood Drive T-shirt and will be eligible to win a cruise for two in a special drawing. The summer is an especially hard time for blood banks because many people are out of town on vacation. Donors become scarce. To put the importance of this event in perspective, the American Red Cross needs to have 1600 people donate blood as well as platelets every weekday to supply hospitals in the Carolina region alone. You can give blood every 56 days and platelets every two weeks as long as you are in good health, weigh 110 lbs or more and are at least 17 years old (16 with a parent's permission). To schedule your appointment to donate blood or platelets, please call 693-5605 or visit http://www.membersforlife.org/cbsr/ and use code #6304 when logging in. While walk-ins are welcome, we encourage you to make an appointment for less waiting time. Make sure to give life by giving blood on June 25th (or anytime) in Hendersonville.

SMART SELLING

If you're buying a house today, conventional wisdom is that you're in the driver's seat. Interest rates and

prices are at record lows, and there's a large inventory of new, existing and foreclosed homes from which

to choose. It's a highly competitive environment with many sellers vying for the attention of a relatively

small pool of buyers. But what if you're a seller? Do current conditions mean that you're powerless? The

answer is no, you're not powerless, but you do have to be smart. In this series, we're going to offer

straight talk and practical information about the home selling process so that you can be a smart seller-in

any market.

First let's look at the local picture. According to the Henderson County Board of REALTORS®, during

the first quarter of 2009 there were 1,626 homes on the market, approximately twice the number than

one year ago. The average selling price was $214,596, a slight increase from 2008, and local MLS listings

averaged 137 days on the market, an increase of 35 days over last year. The most active price range was

between $100,000 and $300,000, with 1,004 listings. Although there were over 600 listings above

$300,000, there was much less traffic and significantly fewer sales, partly because buyers from other areas

aren't able to sell their existing homes, and some have more difficulty qualifying for a mortgage.

Changes in interest rates and mortgage financing have affected the local market. Favorable rates and

incentives such as first-time buyer credits are helping to improve conditions, but financing requirements

are more stringent. Banks and lenders are active, but the approval process can take longer, partly due to

the large number of homeowners who are refinancing. What does all this mean to sellers? Expect more

competition and a longer time on the market than in the past. It also means that you must get your home

in order. With a large inventory available, many buyers are demanding a home in "move-in" condition,

meaning they won't have to clean, paint or make repairs. Does your house create that impression?

Smart Selling Tip: Size up the competition. Visit open houses and compare them with the location,

age, condition and features of your house. This will help determine your selling strategy, including the

preparations needed to compete effectively, and the listing price. Be honest with yourself and be realistic.

Smart Selling is a collaboration by two Hendersonville businesswomen whose work is directly connected with

the real estate industry: Sandy LeRoy of Sterling Property Services (sandy@sterlingpropertyservice.com)

and Mary Stephens of Prudential Lifestyle Realty (mary@ronstephensproperties.com). Special thanks to

Lue Kirchner (keyassociates.biz) for her valuable insights on this topic. Questions and comments invited.

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