Charlottesville Real Estate

Is your home worth the asking price?

Is your home worth your asking price? The best way to answer that question is to separate what’s relevant to home buyers from what’s not relevant.

Starting with the bare basics, home buyers choose homes based on:

Price – their lenders tell them what they can afford
Location – they know where they want to live and why
Condition – they want homes that are well-maintained and move-in ready
They look at the available inventory – your home and its competition.  The greater the inventory, the more room they have to negotiate terms.

They narrow their choices to a short list, based on what they perceive to be the best value.

They buy according to what’s most important to them – price, neighborhood, and/or condition. For example, a buyer who wants a certain neighborhood may choose a home in less than perfect condition, but only if the price is right.

What you should consider before you price your home

Your market

When home sales volumes increase, prices go up, and inventories of homes for sale fall below about six months on hand, (meaning it would take six months or less to sell all the homes for sale on the market to zero on hand) the market is said to be a “seller’s market,” because the market’s conditions favor sellers. 

When sales volumes decrease, prices decline, and inventories of homes rise above about six months on hand, conditions favor the buyer, making it a “buyer’s market.”

To sell your home in the current market, you have to consider the market’s conditions.
You may adjust your price and terms accordingly.

Your competition

Your competition is not only other similar homes in your area, but what buyers can get if they buy brand-new.  Your buyer is comparing size, number of bedrooms and baths, amenities, updates, views, landscaping, and décor. You can’t put a price on many features, but some qualities, such as fine workmanship, room flow, and convenient storage are simply worth more money to buyers. 

Your urgency

If you’re relocating or have another reason to be in a hurry, you don’t have time to test the market. You have to price your home to get immediate and serious offers to buy.

What’s not relevant to home buyers

Your emotions

If you’re sentimental about your home, remember your buyer hasn’t formed the same attachments. Your buyer may appreciate your home, but will still compare it to other available homes in terms of price, location, and condition before weighing emotion. 

What you paid for the house

Many area home prices have receded as much as five to ten years. Sellers who paid high prices for their homes, purchased too recently to build equity, or took out second liens or equity loans may find that what they paid is not what the home is worth in today’s market. Buyers are only concerned with what they can afford.

What you paid for improvements beyond ordinary maintenance

Your swimming pool may be beautiful and add some value to your home, but some buyers may not want the upkeep or the insurance liability, so they’ll tend to offer less for the home than a buyer who really wants a pool.

What buyers expect is for homes to be properly maintained. Even if a home is in the most desirable of neighborhoods, it will never sell for as much as similar homes if it is in poor condition or lacking updates comparable to newer homes in the area.

Tags: Albemarle Homes, Charlottesville Homes, Charlottesville Homes for sale, Charlottesville Real Estate, My Charlottesville Home

NEW PRICE!

3118 Turnberry Circle
Springridge at Forest Lakes

3817 finished square feet
5 Bedrooms/ 4 1/2 Baths
Walk out basement
Fantastic floor plan!
Now priced at $469,000!

Complete property information, photos, and virtual tour under Featured Real Estate

Tags: Albemarle Homes, Charlottesville Homes, Charlottesville Homes for sale, Charlottesville Real Estate, forest lakes homes, forest lakes homes for sale

Just Listed, Hollymead

1053 Somer Chase Ct.
Hollymead Townhomes
2475 sq. feet
3 Bedrooms & 3.5 Baths
$269,000

Beautifully maintained spacious townhome with FULL BASEMENT. The open floor plan features 9ft. ceilings, hardwood floors, large eat-in kitchen, half bath, dining area, great room w/ fireplace and built-in bookcases on the main level. Master bedroom with vaulted ceiling, large walk-in closet, and luxury bath w/ soaking tub and separate shower. Large terrace level has recessed lighting, full bath, storage room, and french doors. The home offers beautiful year round pond views. Great value! Virtual tour and photos under Featured Real Estate section.

Tags: Charlottesville Homes, Charlottesville Homes for sale, Charlottesville Real Estate, Charlottesville townhome, Hollymead

UNDER CONTRACT!

1608 Greenleaf Lane

Charlottesville

Charming City Home is now under contract!

Are you considering a move?  Let me put my skill set to work for you.  Contact me today!

Tags: Charlottesville Homes, Charlottesville Real Estate

3 Lawn Chemicals Charlottesville Homeowners Should Know About

Are you the kind of homeowner who takes pride in your lawn? Then you already know how tenacious some insects, critters and weeds can be.

So just go to the lawn and garden section of your local hardware store and buy some chemical relief, right? Hold on a minute – there’s a better way.

Before you go shopping for poisons and weedkillers, vist  www.csrees.usda.gov. That’s where you’ll find your county’s extension office, and a list of recommended chemicals for your geographic area. The site will also tell you what kind of insects your yard could have, so you’ll know how to properly treat your problem.

Among the most widely recommended chemicals to control pests and weeds are:

• Talstar. Available in both granule and concentrate, Talstar is relatively easy to apply and treats a wide variety of pests for about 2-3 months after application, lasting longer than competitive chemicals like Dursban and Diazinon, according to www.pestcontrol.com. These pests include molecrickets, chinch bugs, and grubs which can invite problems like moles and mice. In granule form, Talstar is about as small as a grain of sand which allows the chemical to fall between blades of grass making it less likely to harm pets and children.

• Acephate 75. More for ant control, Acephate 75 works well on fire ants, harvester ants, and imported fire ants according to www.pestmall.com. Application in granule form is direct; you can pour the pellets on up to 108 mounds and treatment usually lasts an entire season. Also when mixed with water, you can use one pound of Acephate to cover an entire acre, not bad for less than $30.

• Drive 75. A change from pesticide to herbicide- Drive 75 is perfect for weeds and aggressive grasses, according to www.rosecare.com. This chemical takes care of a wide variety of problems including dandelion, crabgrass, and barnyardgrass while protecting highly favorable grasses like Bermuda. Though pricey, a pound can cost up to $160, this chemical will go a long way; 1.5 tablespoons will cover about 1000 feet.

With all chemicals, strictly follow the directions as listed on the container. Be sure to use adequate eyewear and protective clothing, and keep all chemicals safely away from children and pets.  Store surpluses in a safe location. Make sure your containers are sound, so that no leaks might contaminate your storage, garage, or any area of your home. For more information, visit www.pestproducts.com.

Tags: Charlottesville Homes