Archive for the 'Real Estate Info & Tips' Category

Search it, See it, Map it - Using the most powerful MLS Search in Augusta to find the perfect home

Lydia Taylor August 24th, 2007

One of the things I like about the MLS Search functionality on NorthoftheSavannah.com is the varied ways you can find homes for sale. The site offers searches by city, county, zip code, MLS code, and by map. There are also lots of prebuilt searches around the site, like the Summerville Real Estate page that shows all the homes for sale in Summerville. The Augusta MLS and North Augusta MLS pages have prebuilt searches by price range, by property type, or by location. And the North Augusta Real Estate page offers a number of prebuilt searches for popular neighborhoods. For all the power of those offerings, they are really intended to drive traffic to the site, and demonstrate the ability of the MLS Search available here. I call it the most powerful MLS search available in the CSRA, and I think it’s fair to say that.

But let’s say your a home buyer and you want something more. How do you bend this site to your will and get it to work for you? Well, that’s super easy, and I’d like to show you how.

Most buyers have a price range, and they know about where they want to be. Maybe they can be very specific and know they want to be near their daughters home. Gotta to be able to spoil - I mean visit - the grandkids! So, let’s see how this site can help these buyers find their dream home.

Lets take a simple search that I did with some recent home buyers. They wanted to be near a daughter and grandkids in North Augusta. They were retired, and they wanted to relax in a more upscale home. They’d studied the market, and gotten pre-approved financing up to $225,000. They had that financing available for the next 30 days, and they were ready to buy. They want to be close to the grandkids, but not too close, so they wanted to look around in Aiken County first, and maybe take a hard look at North Augusta later.

So let’s take a stream-of-consciousness look at how we would do that search today.

The best way to begin is probably with the county search, selecting Aiken County, a price range of $175,000 - $225,000, and a minimum square footage of 2000 sq ft. The MLS search defaults to residential (although they could search for land & lots, and build their own house if they can’t find anything they like, but that’s another blog article.) That particular search yields 43 homes! Wow, that’s quite a lot to sift through. But as it turns out, a number of the homes for sale are located in Graniteville or Aiken. Nothing wrong with those places, but that may be a bit far to drive to visit the grandkids. Maybe we should narrow the search to North Augusta after all.

For now let’s put that Aiken County search in our saved searches list. Yes you can do that here…and those searches update nightly, so you don’t have to redo all that typing when you check the listings tomorrow!

This time let’s try the city search. We select North Augusta, again using a price range of $175,000 - $225,000, and a minimum square footage of 2000 sq ft, and see what we get. Hmm. 24 results this time. We’ve chopped the list in half, but that’s still a healthy list to sift through. But wait a minute, we want a home office to check our investments, and a spare bedroom for the guests, and we need a spare room for the grandkids when they sleep over. We know we need at least a 4-bedroom home, and there are a number of 3-bedroom homes in our search results.

Let’s hit that city search again, but select the at least 4-bedrooms option. That’s it! We’re down to 15 homes with our specifications. This is a great search to save in our favorites. Now we can drill down on the details of each of these and print out some flyers. While we are it, we can map each of the houses we like, and plan to do a drive-by on Sunday after church. Houses may look good on the website, but sometimes if we go through the neighborhood, we find out the curb appeal is not what were hoping for, so we will almost surely knock a few more off the list.

Typical home for sale flyer on northofthesavannah.com

Another thing we can do while we are here is check out the golf communities. Gramps mentioned he likes to play golf on Wednesdays. We can use the neighborhood search and check out Midland Valley Golf Club and the homes for sale in River Club. Unfortunately it turns out that no homes are listed in Midland Valley, and the one home for sale in River Club is well out of our price range. That’s OK, we can also check out North Augusta Country Club. There isn’t really a neighborhood search available for that, but we can use the map search to hunt around. Turns out, a couple of listings on our original list are very near the River Club. And there is also a house on our list near the North Augusta Country Club. Great!

Typical home listing details on www.northofthesavannah.com

Now we have three homes that offer convenient golfing in addition to meeting all of our original specifications. Those are definitely some houses to save in our favorite listings list. The only thing thing these home buyers would have left to do is contact Lydia Taylor and buy some Elegant Real Estate!

I hope this write-up encouraged you to check out the home listings search I have here on my website. I’ve spent a lot of time designing it, developing it, and, well, paying for it (!). If you have any questions at all about how to use the search here, or have some suggestions on how to improve it, please let me know. I am available anytime to help you in your search for the perfect home.

Why use a Local Lender to Finance your Home?

Lydia Taylor June 18th, 2007

In the age of the internet, the options for mortgage brokers to choose from are enormous. No longer are buyers relegated to using only the local bank to get a mortgage. They now have the ability to find a mortgage company while in their pajamas at home. Why then do real estate agents urge buyers to use local lenders?

Using local financing makes it easier on everyone. There is a certain level of accountability that a local lender has that an out of town or internet lender does not have. The local broker is more easily accessible to the buyer and the buyer’s agent. The mortgage broker has to contend with face to face interaction if there is a problem. The threat of lost business tends to make them less of a risk, because if they fail to look out for your best interests, then they could potentially lose your referral business and any other business that you may give them. Local mortgage brokers have to compete with other lenders in the area, and word of mouth means everything.

Out of town mortgage brokers are less inclined to care. They sometimes lack the resources, such as knowing an appraiser in the area, to complete the mortgage process on time. Many times the closing costs are higher and the money and paperwork are not always ready in time for the closing.

Top 5 Do’s and Don’ts before you Buy a House (Especially if it is your First)

Lydia Taylor June 12th, 2007

Do:
1. Improve your credit score.
2. Save money for the extras (closing costs, down payment, appliances, lawn mower).
3. Ask for advice from friends, family, and your real estate professional.
4. Know what is and is not important to you in a house.
5. Figure out what you can afford and get preapproved for a loan.

Don’t:
1. Make a large purchase before you buy (cars, boats, etc.)
2. Get overwhelmed with everything that has to be done.
3. Be too emotional if things are not going exactly how you expected.
4. Be talked out of a home inspection…even if you are buying “as is”.
5. Get into a house payment you don’t feel comfortable with - even if technically you can afford it.

Realtor Realities: Pricing your Home Correctly the First Time is Critical

Lydia Taylor June 1st, 2007

One of the number one factors that hinders a home from selling is overpricing. I know that you have heard that selling your home is all about “Location, Location, Location.” They are right. And there is nothing you can do about your location, so make sure the price reflects where you are. Ask your agent to provide you a detailed market analysis of your area, and have them sit down with you to review it. This will generate a reasonable and accurate listing price for your home.

It might seem like a good idea to price your home high and reduce the price as needed, however this is probably the worst decision that you can make as a home seller.

  • A high price produces fewer showings and fewer prospects. If your home is listed for several thousand dollars more than any of the other homes in the neighborhood - and is of the same make and quality - then your home will not be on buyers’ lists to see. If they can buy the same thing for less then they will… Most will not even bother to look at your home.
  • Over pricing can impart a negative image to the home. If the home sits for an extended period of time - and especially if you reduce the price - people instinctively think that there must be something wrong with the home. That is a hard and nasty image to overcome. It’s a long road for a seller once that happens.
  • High pricing can hinder financing. If the home appraises for less then the proposed sale price, the bank will not lend the money! Unless you were lucky enough to find cash buyers. Otherwise your buyers have no choice but to walk away since they cannot get a mortgage. What a bummer that is, huh?
  • Over pricing typically means more seller concessions. Let me rewrite that. Overpricing means YOU make more concessions. To make the purchase of the home worthwhile, buyers will begin to ask for you to pay more closing costs, decorating allowances, etc. The extra money you had hoped for will be eaten up by these types of requests.

All in all, over pricing leads to wasted time and energy!

Putting the right price on your home the first time is essential.

When your home is priced ‘correctly’ it makes for a faster and easier transaction. Fair pricing means less time that you have to deal with mortgage payments and ownership costs. Buyers are also more likely to offer near the asking price because they realize that if they do not - someone else will. The combination of less time on the market (carrying costs) and better offers translates to more money in your pocket.

Pricing in line with your home’s market value means that you will sell faster and that cuts the time that you have to keep your home show ready. It makes no sense to overprice your home.

Beware of Realtors that are ready and willing to put a high price on your home. They will use that in their sales pitch to convince you to sell your home with them and beat out other agents for the listing. One agent in the area got over 120 listings in 2006 doing exactly that. They are on pace to beat that this year. The faded signs in peoples yards are called by some “The ******** Effect.” For obvious reasons I’ve withheld this agents name, but if you think agents like that are really that good you will definitely be disappointed. They are not looking out for your interests- they are just using you to make a buck.

You can shop realtors just like anyone else. Meet several of them. Talk to them. Interview them. Ask for a market analysis and see what their suggested list price is. If you have an agent that just can’t seem to really justify that high list… don’t get greedy. You’ve found one to avoid.

How many Homes are For Sale in the Greater Augusta area?

Lydia Taylor May 24th, 2007

Have you ever wondered how many homes are for sale in our area? Here are the stats….

  • Total Active homes: 3,718
  • Homes pending and under contract: 1,196
  • Homes sold (last 30 days): 610
  • Active in Richmond County: 1,507
  • Active in Columbia County: 1,241
  • Active in Aiken County: 526

(The City of Aiken has their own MLS and their numbers are not represented here.)

I don’t know about the rest of the country, however the Augusta Real Estate market is still very active!!!

(Numbers were collected on May 23rd at 5:10 p.m.)

Does _______ add value to a home?

Lydia Taylor May 23rd, 2007

I have written several articles, and given quite a bit of advice, on the popular question of “Does (you fill in the blank) add value to my home?” The real answer to that question lies in the phrase Keeping up with the neighbors…

The first step to determining if something is a good improvement to add value to your home is knowing what your neighbors have done to their home. If several of your neighbors have a large rear decks on their home and you do not, that might be an excellent home improvement that would add value to your house.

The second consideration is knowing the level of finish that is appropriate for your home. If you live in a home that is valued under 100 thousand dollars, granite counter tops, gold plated fixtures, and marble bath tubs would be examples of improvements that do not add home value.

In summary, unless you are adding the improvement strictly for your enjoyment, stay within the confines of improvements that make your home equivalent to your neighbors’ homes. You want to have the second nicest home in the neighborhood, not the first. Don’t over do it!

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