Judy Ballard's Blog by Judy Ballard

Judy Ballard, Cobb County GA Luxury Home Specialist

www.judyballard.com Are You Ready To Move Up? For many people, there comes a time when they decide that their home no longer meets their needs. Whether you’re still living in your starter home or you’re in a second or third home, there are many reasons why people choose to sell their home and move to another – a better neighborhood, more space (or less space that’s nicer), better public schools, more bathrooms for the kids, etc. If you’re considering moving up, we have some questions that may help you to make this very tough decision.

1) Can you fix the problems by making repairs to the home you currently live in? Depending on your reasons for moving, you may be able to save money by staying put. If you need another bathroom, for example, you could get an estimate for a contractor to add one to your house. If you need a bigger yard (and if your current yard was already fenced when you bought the home), you can check with ..(read more)

Increasing Seller's Property Value

Increasing Seller's Property Value Judy Ballard, Cobb County's Luxury Real Estate Specialist www.judyballard.com Understand first of all that there IS a difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have a positive impact on the value, sellers can significantly increase their chance of attracting qualified buyers willing to pay the asking price. Some tips to achieve a positive impact on value are: Perceived size impacts value, even more so than actual square footage. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing property that is furniture free, or at reduced clutter, helps to make the space feel bigger. Vacancy increases sale-ability. Property is easier to show ..(read more)

Judy Ballard, Marietta's Luxury Real Estate Specialist

www.judyballard.com 5 new rules for home sellers Whether you're buying or selling, the real estate game has changed. To win, you've got to learn a new playbook. By Amanda Gengler, Money Magazine Last Updated: May 12, 2008: 12:39 PM EDT (Money Magazine) -- Selling a home is a lot trickier than it used to be - here's how to be smart about pricing, presentation and incentives. Rule 1: Get real about price Too many sellers set their price based on yesterday's market. Big mistake. "The first buyers in tend to pay the best price, so you need to price it right at the start," says Pamela Liebman, CEO of the Corcoran Group brokerage. Have three area brokers prepare what's called a comparable market analysis. It will list asking and selling prices of similar homes, as well as amenities and sizes. If there's little inventory in your price range, list for what others are asking. If a lot of homes like yours are on the market, then look to generate buzz, says ..(read more)

Pricing Your House to Sell

Looking to sell a home in a slow market? The key is pricing your house according to your need to sell, says Lew Sichelman in the Los Angeles Times. Known as "absorption-rate pricing," the tactic involves calculating how long it takes a home to sell in your market, comparing it to your own preferred selling timeline and setting your price accordingly, Mr. Sichelman says. Sellers who aren't in a hurry have more leeway with price, and those with a shorter timeline must set their asking price lower, he says. The key to determining your price involves calculating how many similar properties are on the market in your area, how many months of inventory your market has and the rate at which homes have been selling locally. Consumers drain equity from homes Long before the housing downturn and today's foreclosure troubles, homeowners were losing equity in their homes, says an Associated Press article published by Sun-Sentinel.com. Consumers have been using their homes as ..(read more)

Costly Buyer Mistakes In A Down Market

With plenty of homes on the market, prices falling and mortgage rates down, it appears to be a plum time for house hunters. But even in a buyer's market, buyers can make expensive goofs, writes Linda Stern of The Boston Globe. Know your local market, Ms. Stern counsels. While there are bargains to be had, it's not smart to buy on the cheap if prices in your area are still falling. For instance, now might not be the time to make a purchase in Rust Belt cities like Cleveland and Rochester, N.Y., where more price corrections may be on the way. But buying a beach house now while buyers are looking to unload their properties before spring may be a good move, she says. Buyers who fail to negotiate with their real-estate agent or look for deals are also making a mistake. Ms. Stern points to one brokerage in the Boston area that is giving buyers 75% of the commission it gets from home sellers. The catch: buyers must find the house on their own. Sellers: Brace yourself for more bad ..(read more)