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DJ Campbell

DJ Campbell

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The truth about viewing homes online

(Published on - 1/15/2019 7:36:39 PM)

It’s easy to get sucked into looking at home after home online, drawn to the stunningly filtered photos of manicured lawns, sharp-looking kitchens, and giant bedrooms. Although this is a great place to begin, it’s important to keep in mind that all may not be as it seems.

Here are my top tips to avoid getting duped by listings online.

Photos don’t always capture the full picture. Real estate photographers are very good at highlighting the best features of the home and often use wide angle lenses to make spaces appear larger than they really are. But, be aware that there may be less photo-worthy features they aren’t displaying. Don’t forget to look at the property features listed to gather a better idea of what the home has to offer.

Ensure you are looking at current listings. Nothing is worse than falling in love with the perfect home, only to check out the listing date to find it was posted two years ago. Make sure you use websites that are pulling information daily from the Multiple Listing Service (MLS) and have your real estate agent verify it is available.

Use your real estate agent as a resource. If you find a great listing online, always run it by your agent to confirm you aren’t missing something important. They can also provide neighborhood details, price comparisons for similar properties just sold in the area, additional listings that match your criteria, and more. Once you a find a home you’re ready to view, make sure you bring them with you to answer questions and be an extra set of eyes.

 


5 Steps for a better home appraisal

(Published on - 1/15/2019 7:36:01 PM)

If you’re looking to refinance your home or possibly sell, you’ll need an appraisal. A bank will not refinance a home for more than it is worth, and a potential buyer will not pay more than the recognized value of the home.

Here are 5 simple steps for a better home appraisal.

Tidy your space Make sure your yard looks well-groomed and the interior of your home is clean and clutter-free. It is well worth the investment to have the home professionally cleaned and have your yard serviced.

Invest in the right types of renovations Kitchens and bathrooms are the best types of renovations. They will typically provide 80% ROI. High-efficiency appliances and upgrades that improve the overall efficiency of the home are well worth the investment.

Document your upgrades Provide the appraiser with a list and documentation of all upgrades, renovations, and improvements to the home.

Do your homework Research and provide your own comparable valuations for similar properties in the area. Note your tone; you don’t want to come off as defensive but rather helpful.

Be available but not in the way Be present to assist with the process but don’t be the appraiser’s shadow. You want to appear helpful, not nervous that he’ll find something wrong!

 


Free, no obligation home estimate!

(Published on - 7/22/2017 4:12:54 PM)

Curious what your home might be worth in today's market? Fill out the form below for a free, no obligation home estimate. Let's sit down and talk real estate! 

 

 

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Inventory Levels and Supply and Demand

(Published on - 7/21/2017 9:31:31 PM)

You may have heard from me (or your neighborhood Realtor) that the market has been hot so far this year! In my area of Milwaukee, the North Shore region, the median home price sold in March climbed 8.9% during the month and inventory levels have dropped. 

You may be thinking: what does this mean for home buyers and sellers? If you are looking to sell a home, it is an excellent time to list on the market and get some of the equity that has hopefully been growing in your home.  However, for buyers, it is getting harder to find your next dream home since inventory levels are dropping.

What is supply and demand?

Market supply and demand for any product typically intersects to create the best perceived price for a good or service. Increasing demand will usually have an inflationary reaction to prices, where increasing supply can do the opposite. A good example in history is Cabbage Patch Dolls, Tickle Me Elmo dolls, or last year’s Hatchimals toy. Kids were crazy about these toys and got their parents out in droves to try and grab them for gifts; demand was off the charts. This created a secondary market on places like eBay.com where prices were skyrocketing for a $20 doll! 

The same can be seen now in my local real estate market. The economy is still strong with positive growth each quarter, dropping unemployment, and retail consumption is increasing year-over-year. There is an increasing buyer market as millennials are beginning to purchase their first homes and start a family, and baby boomers are looking to downsize. 

What is the absorption rate?

You may have read about housing absorption rates during your home buying research. It is a statistical measure where we look at the number of homes sold over the last few months and divide that from the total outstanding inventory. As the number of sales increase and inventory decreases, this measure goes down, and vice versa. A lower, or faster, rate can indicate an inventory shortage and price increases coming in the future. As supply drops, this can drive market prices up. 

What does this all mean for our market?

Year over year, many neighborhoods have seen a 5-7% increase in sale prices on homes, so it is an opportune time to sell. If you need more room or are at a point where you would like to downsize, you may find selling your home easier than you thought.

 

Want to learn more? Curious what your home might be worth in today's climate? Fill out the contact form below and I am offering a free, no obligation home value estimate. Let's sit down and talk real estate!

 

 


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