Factors which influence Your Home Appreciation
Home values are continually changing. Almost always, home values appreciate, long term. Are you in need of help to understand how Mecklenburg County and surrounding area homes appreciate? When your home appreciates you have a greater asset against which to borrow; and you’re able to profit when you sell.
There are a number of key factors which influence property values in Mecklenburg County and surrounding areas. In order to determine how well your investment may appreciate over time, it is important to select an agent who can identify the factors that affect local real estate market pricing.
What is my Home Worth?
The economy is believed to be the number one factor affecting real estate appreciation. Obviously, there are a number of issues on a national scale that can affect your home’s value: unemployment, interest rates, inflation, and more. But the most significant issues that decide your home’s value are specific to the local market area economy.
Charlotte has become a hotbed for immigration. With average income and salaries, as well as tax rates on par with the national average, Charlotte has seen considerable increases in its job market, with a predicted increase to be that of over 10% the national average.
People love the idea of living in Charlotte and the Carolinas, and our Real Estate market is quite reflective of that.
When considering a home purchase in and around the Charlotte area, these are some of the key factors we recommend for your consideration:
Location, Location, Location – Many of us desire for our families to live in a community that is easily accessible to useful amenities, schools, work, recreational facilities, and places of worship. Neighborhoods local to a wide variety of choice for these, usually appreciate, or carry their value consistently, year to year.
The Local economy – Are work opportunities in the area blended well, or does it rely specifically on just one or few industries? Are businesses moving into or out of the area? Are local businesses hiring? What does the daily commute in and out look like? Is the area heavily congested or are the transportation options well designed and balanced for comfortable daily travel. All these play a vital role in the longevity and growth of a local economy.
Sales history – How long or short do houses remain on the market for sale? What is the price action history of a neighborhood? While some relevant information can often be retrieved from the public record, as your agent with access to the local MLS, along with our expertise, we will often be able to provide for you a more complete picture.
Appreciation performance – What has been the 5 and 10 year appreciation performance in a community? Is the area growing increasingly desirable and popular due to location or affordability?
As your local market experts, Contact Us to discuss how you can benefit from the appreciation of your home’s value.
Valuing Your Home
Foremost, prior to listing your home for sale, you’ll need to establish the value of your home so as to set it’s sale price and the marketing strategy we will employ. It is also of practical importance to obtain an accurate value of any home you’ll plan to purchase.
At Carolina Realty & Investing Group, relying on our expertise in the Charlotte and surrounding market, we can perform a Comparative Market Analysis (CMA) and comprise a realistic fair-market valuation of your home or prospective home.
Feel free to fill out our CMA Request Form and we will contact you as promptly as possible to discuss your home valuation.
The Listing Process
The listing contract, also referred to as the listing agreement, is a contract by which a property owner gives authority to a real estate broker to find a buyer and negotiate the terms of sale. Unlike the real estate contract which stipulates the terms of sale, the listing agreement is an employment contract authorizing the broker to represent the seller.
All real estate contracts must be in writing.
This listing agreement is a personal services contract between you and your broker containing all the terms and conditions by which you authorize and employ the services of the broker.
Typically calculated as a percentage of the sales price of the property, commission is the tender by which the contract will be held valid, specifying the timing, terms and payment due to the broker. Under the listing contract, if the seller backs out of an acceptable offer to purchase, the broker is still entitled to his or her commission to cover the expense of their marketing efforts.
Everyone with title interest in the property must be part of the sale, and hence part of the listing contract.
Typical listing agreement terms are for 180 days and renewable. Never sign a listing contract without a stated termination date.
The listing contract is a legal document by which the seller is bound. As with any legal document, you should read the listing contract very carefully.
We can go over it together, line by line so you can be sure to understand exactly what you are agreeing, before signing.
If you have any questions about your listing contract, Contact Us and we can help answer them, or point you in the direction of a legal representative that can!
Setting the Stage
Prior to putting your house on the market, you may want to consider professional home staging services. Staging your home paints a picture that can trigger any number of emotional reasons to buy.
Home staging is a proven strategy for selling homes quickly and with a higher number of offers. Together, we’ll make staging your home a fun and enjoyable experience.
Here are some areas in which we will concentrate on when staging your home:
Starting with the outside we will evaluate your home’s curb appeal, how can we best attract buyers from the street? What stands out? What positive features do we want to accentuate, and what features may need to be changed or eliminated? Paint? Landscaping? Roof?
Is your home inviting and welcoming? Let’s work together to look at areas where we can reduce clutter, create warmth, while building a feeling of comfort and safety.
Believe it or not, simple things such as paint colors, furniture arrangements, and sparkling windows, can make all the difference in how prospective buyers will picture themselves living in their home. Let’s make your home theirs.
Setting the Stage
In the short time that your house will be on the market, it is important to capture the buyer’s imagination.
Raising the shades and turning on the lights along with a fresh scent and background music make for an inviting atmosphere. Buyers should feel like they are touring their future home.
Contact Us and we will make sure that happens! Let’s get you ready for the Show!
Showing Your Home
The greater the number of showings will translate to getting your home sold quickly. A buyers’ agent must be able to have easy and convenient access to your property in order to effectively show it.
If agreeable, we’ll want to install a lockbox on your home for convenient access. Homes listed as being “lock box, no appointment needed” have more frequent showings than those listed as “agent has key, call for appointment”. A real-estate lock box is a padlock-shaped box that generally hangs around the doorknob of a house that is on the market. Secured inside is the key to your home, accessible by either key, combination, or electronic security code.
Make sure that the home remains clean, picked-up, and ready for showing at a moment’s notice. Keeping the home feeling warm and inviting is of paramount importance; air feeling and smelling fresh, lights turned on, and possibly some calming background music can also set the stage for a good showing.
Contact Us, let’s get the Show On!