Hendersonville readers who frequently check in here may recall the inquiry into whether there really is a single best time to buy a house—and if so, when that might be.
The answer was October 8.
At least that was what the researchers at RealtyTrac deduced after reviewing millions of home and condo sales (from across the nation, not just Hendersonville). The definition of “best” they settled on was the date which recorded the greatest markdown between original listing and actual sale prices. On closer examination, though, 10/8 did seem to be an answer that was going to differ from year to year. But there was definitely evidence for fall being a good season for buyers.
Now there appears to be an answer to the equally beguiling question Hendersonville sellers may be curious about: What’s the best time to sell a house? Having an answer might be reassuring to Hendersonville homeowners in a quandary over whether to jump into the busy Hendersonville spring selling season—or to wait for a less crowded time of year.
This answer, which recently appeared on CNBC’s news feed, is less specific than RealtyTrac’s single date—and for my money, more convincing because of it. And the answer is
The first half of May, to narrow it down a bit. The reason is that a home listed between the start of May and mid-month sells nine days more quickly than does the average. To be absolutely accurate, though, the “average” is the average of home sales everywhere in the country—North, South, East, West, and everywhere in between. Warmer or colder climates can send the answer off kilter, as can market conditions present when the calculations were made.
The basis for CNBC’s finding was a Zillow study, but it was not clear exactly when the data was collected, so there is a possibility that in today’s seller-friendly climate, the best time to sell a house in Hendersonville might slip a week or two in either direction.
Further scrutiny yielded a two-track answer to the question of what is the best day of the week to list, with Saturdays vying with Thursdays for the honor. The reasoning was that Saturday is when most house hunters are apt to go online to check out the market; but Thursday is the likeliest day because people are gathering info for weekend open houses.
In my opinion, trying to zero in on the absolute best day to list is not nearly as useful as taking the time to identify who will be the best Hendersonville agent to help you sell your house. Along those lines: do give me a call at 828-747-8113
Ah, springtime! As the daylight hours grow longer and buds and blossoms dot Hendersonville’s trees and gardens, even when a rainy day is in the forecast, the feeling of new life in the air can’t be denied!
Also undeniable is the all-too-apparent fact that Hendersonville’s bright April sunlight is now illuminating months’ worth of dirt on the windows. And now we can see more areas of the carpet that show the winter’s accumulation of … what is that?
For residents from one end of North Carolina to the other, the balmy weather definitely triggers a popular urge to put households in shape. But since there is a simultaneous contradictory urge to get outdoors to enjoy Hendersonville’s good weather, it seems like an apt moment to try to retrieve some of the many time-saving tips that are out there on the web.
In other words, it’s time for Google. To aid in in Hendersonville’s Googling efforts, here are some valuable spring cleaning search keywords. Enter any of these in combination with “spring cleaning” and Google will bombard you with scads of valuable insights and shortcuts:
• “White Vinegar.” It’s a universal disinfectant that’s carried in gallon jugs on Hendersonville grocery store shelves. Many of Hendersonville’s professional housekeepers know how effective and environmentally friendly diluted vinegar is—and how rapidly the residual odor disperses.
• “Sponges.” Cut down on paper towel consumption by collecting a variety of quality sponges and having them at the ready. If you wet and microwave them regularly, bacteria won’t accumulate (and they’ll smell fresh, too). Side benefit: when you nuke wet sponges, stuff on the inside of the microwave will come off easily!
• “Dusting mitt.” They’re useful for more than just Venetian blinds. You can also substitute with athletic socks (then just throw them in the washer).
• “Baseboards.” Vacuuming the floors doesn’t eliminate the edge problem—that’s where the most stubborn winter debris tends to shelter in place. If you use whatever attachment (soft brush or nozzle) that lets you vacuum the baseboard contour before starting on the floor, the problem disappears.
• “Baking soda.” The cure for smelly carpet areas: sprinkle, let stand overnight, vacuum.
• “Cola.” Clean toilets by pouring, waiting an hour, flushing. But when you google “cola” with “spring cleaning,” you’ll also find warnings about the deposits cola leaves behind. Solve that by following up with an undiluted cup of—you guessed it—vinegar.
• “Lemon.” Google this one along with “spring cleaning” and you’ll be able to choose which of the 2½ million hints to put into action!
For some Hendersonville homeowners, this spring will find them putting their homes up for sale. If that’s the case, give me a call for a professional Realtor’s® take on which spring cleaning efforts are likely to reap the greatest rewards!
It’s April—a time of year when area homeowners who haven’t yet added their homes to the Hendersonville listings may have a legitimate question about whether it’s too late to benefit from the spring selling season. This year, they may also be concerned that the rise in mortgage interest rates could discourage prospective buyers.
The answer to the first question is a qualified not—not too late! The only qualification has to do with the condition of the property itself. If it can be put into sound showable condition within a month or so, this is an excellent time to jump into the Hendersonville listings—for a number of reasons.
We won’t know the actual foot traffic numbers for Hendersonville until after the dust has settled at the end of summer, but we do know for certain that the law of supply and demand points to this year being a standout for sellers. In large part, because the economic outlook has been building optimism for months, early signs point to strengthening buying interest. Realtors® across the nation report that last month’s buyer traffic was either strong or moderate. The index number for December through February was all the way up to 70 (that’s at the top of the chart)—up from 57 just a few months back. At the same time, the volume of new listings remained weak in most areas: down to 41 from 48. That would negate the most common argument for delaying entry into Hendersonville’s listings—that is, the fear of getting lost in the shuffle as the real estate season peaks. If the number of listings continues to lag, that worry disappears. When demand is up and supply down, everyone from high school economics teachers to Warren Buffet agree there’s no better time to jump into the market.
As for the other concern—the Fed’s having raised borrowing rates—so far it hasn’t seemed to discourage buyers. The analysts at Housingwire offer three reasons why that might be happening. First, most potential homebuyers believe rates will rise further, prompting them to act sooner rather than later. Second, any slackening in mortgage applications will prompt lenders to relax the tight lending standards that have tended to depress the market. Lastly (this is a good one!), lenders had already factored in last month’s rate hike—so actual home loan rates aren’t likely to rise further for a while.
The long and the short of it is that for anyone hesitating to add their home to this spring’s Hendersonville listings, it’s not only not too late—it’s also an excellent idea. Another excellent idea is to give me a call at 828-747-8113 ASAP: the Hendersonville listings await!
When it comes to the reality of pricing a home in Hendersonville, it’s natural that buyer’s and seller’s points of view reflect their different roles and objective. In a way, they are mirror images of each another.
From the seller’s point of view, pricing their Hendersonville home starts out from the reality check of the “comps”—the prices registered in recent comparable neighborhood sales. From there, the pricing decision revolves around the tradeoff between maximum asking price versus the desire for a speedy sale. Even if there is no time pressure at all, serious sellers will still set the asking price below a level that indicates disregard for current market realities. Rather than communicating “this place is worth more than what people are willing to pay,” overpricing only serves to needlessly put off buyers and their agents. If time pressure is an issue, experienced sellers will peg the asking price just enough below neighborhood comparables to make the value evident. Tagging “motivated buyer” on the listing can attract attention, but the right price cuts to the chase. That’s a tactic bound to draw timely offers—especially when a Hendersonville property is in A+ showing condition,
For most prospective Hendersonville buyers, it’s the mirror image. Rather than starting from the reality of neighborhood comps, the pricing of their future home begins as an abstraction: the “looking” range. The top of the range will be a figure that is derived from what is comfortably affordable rather than what that figure will command in the current market. Once the serious house hunt is underway and some area properties have been visited, that top-of-range number will almost always need some adjusting—usually (but not always) upward.
Thereafter, when some desirable Hendersonville properties have been located, pricing from the buyer’s perspective is apt to become largely an exercise in deconstruction. Even though a home is actually desirable, it’s hard to resist zeroing in on the property’s weak points, turning flaws into subtraction fodder for mental offer calculations.
In a successful transaction, the mirror images of buyers’ and sellers’ approaches to home pricing do ultimately wind up converging. That’s another area where having a knowledgeable Hendersonville Realtor® on your team is invaluable. When it comes to offers and counter-offers, whether you’re a buyer or seller, having your side of the negotiations handled by an experienced professional is a sure way to keep the other side tethered to reality. Arriving at a bottom line reflecting realistic and lasting Hendersonville real estate value is what most often winds up bringing both parties to a happy conclusion. The first step? You guessed it: call me at 828-747-8113.
Hendersonville house buyers and sellers were not surprised in the least at last week’s Federal Reserve decision to notch up the Fed Funds short-term rates. For once, anticipating the move had been easy. The surrounding factors—the economy, employment, and consumer confidence measures—were all in unison, pointing to a meaningful improvement now underway.
Already, a day before Wednesday’s announcement, Hendersonville readers could confirm what was coming: “Mortgage applications rise 3.1% as borrowers rush to lock in rates,” per CNBC on Tuesday; “Mortgage rates jump as economy revs up,” echoed MarketWatch.
The editors at CNNMoney, well aware that the “news” was not likely to gather much attention, wisely chose a more direct appeal by promising to explain “What a Fed rate hike means for you.” The listed major impacts:
• savings accounts will pay more (it would be hard to imagine their paying less)
• the “Trump market rally” is unlikely to be derailed
• Presidential plans for a major infrastructure renewal could complicate matters for Fed decision-makers in coming months
• Big ticket buyers could still count on relatively low rates
Since Hendersonville house buyers belong to that Big ticket group, the last point was relevant. Although it was pointed out that a rate hike “does NOT guarantee that mortgage rates are going up,” a number of outside factors pointed in that direction. So Hendersonville house hunters might or might not expect that the immediate future could bring higher home loan rates, but the current climate was still favorable—a caption read, “rates are rising but still low.”
So far, so good. But then, to illustrate, CNNMoney offered a cartoon sketch picturing a balance scale with coins in one pan and a house in the other. The drawing was shown under a headline exhorting, “Homebuyers: Decision-making time!”
That graphic was the only obtuse message in an otherwise straightforward commentary. The puzzling part was that the scale showed the cartoon coins weighing heavier than the cartoon house. The visual metaphor for decision-making time would seem to illustrate that the money was more important than the house, which seemed to mean that prudent Hendersonville house buyers should hold onto their coins. But the article argued for the opposite. The message for Big ticket buyers was right there in the “rates are rising but still low” headline.
I think it’s fair to guess that CNNMoney’s Art Department is at odds with the Financial Prognostication Department about “What a Fed rate hike means for you.” For Hendersonville house hunters, my takeaway would be to side more with the Finance Department. Certainly, if you are preparing to take advantage of the current crop of great real estate buys, the scales should be weighted toward nabbing the house.
For a head start—give me a call at 828-747-8113
When it’s one of those weekend days when the Hendersonville weather has refused to cooperate with outdoor plans, one way to fill the idle time is to go online in search of home improvement ideas. You may not follow through with any for your own Hendersonville home—but it’s amusing to review the almost unlimited number of clever and inventive notions people have put online.
When it comes to the kitchen, for instance, there are bounteous home improvement ideas. There’s the herb garden wall (in addition to a green thumb, a powerful sunlamp in the ceiling is required) or the pool table top that slips right over the center island. That one wouldn’t work if your kitchen’s island is plumbed: the water faucet would stick up and ruin everything.
But among the clever and innovative home improvement ideas you will also find some that are totally impractical—or just plain terrible. Here are nine of the silliest I’ve found—
1. Hammock Over the Stairs. A space-saver, yes. An attractive idea? Just, no.
2. See-through Bathtub. Glass walls for the tub = a housekeeping nightmare (among other drawbacks).
3. Fire Pit Coffee Table. Again: just, no.
4. Ping Pong Door. This one is complicated: the closed door has pins halfway up that allow it to tilt horizontally, whereupon the plastic net is slid into notches provided in the door frame…anyway, it’s a really small ping pong table.
5. Cat Transit System. A CTS consists of 8” diameter tubes running throughout the house just below ceiling level. Exit openings are provided at various points. Added feline-pleasing features: windows cut into the tubes at various key viewpoints.
6. A Wall That Plays Music When it Rains. This is an exterior wall idea. You install metal tubes, funnels, bamboo water chimes and tin pans to route rain water down the side of the wall as noisily as possible to splash and bang through twists and turns and waterfalls. This looks to produce the same quality of music a vacuum cleaner makes.
7. Beach Sand Under Work Desk. Like an on-the-job vacation; facilitates barefoot computer working. But—alas—another housekeeping nightmare.
8. Forest Chandelier. This one is a chandelier that looks like dozens of snakes coiled around one another: when lighted, it casts creepy shadows on ceiling and walls that “turn your room into a forest.” In a bedroom, certain to cause sleepless nights.
9. Glass Floor Over an Open Shaft. This home improvement idea is available only to Hendersonville condo dwellers in buildings with abandoned elevator shafts. Since there aren’t any, we’ll never have to experience the horrendous effect (there’s actually a picture of this, in a bathroom, on a site called boredpanda).
Hendersonville home improvement ideas can be unique and fanciful—but are best left in the idea phase if they are so unique and fanciful they would drive away potential buyers. Even if you aren’t planning on selling your place any time soon, it’s prudent to keep that option open. And if you are making plans that are more immediate: give me a call at 828-747-8113 in advance!