From For Sale to Sold in Under 60 Days

None of us is immune from the news being broadcast every day.  The talking heads of the media have had a laser sharp focus on the economy and the real estate industry, mostly forecasting doom and gloom and making people nervous about their futures.

What the media forgets is that people will always need a place to live - a roof over their heads and a place to call home.  The changes in the real estate market on the West Bank of New Orleans simply mean that qualified home buyers have many, many (did I mention many?) options when choosing which roof it will be. 

All of those choices allow buyers to select the best of the best for their new home - and that’s exactly what they are doing.  I recently listed a beautiful house in Gretna for a seller who did all of the right things to prepare their home for sale.  Combine the preparation with an individual property website, a virtual tour, video, and marketing to other West Bank agents and what was the result? 

The house went from for sale to SOLD in only 53 days!

Do you need some help getting your home ready to sell? Here are some articles to point you in the right direction:

• Are You REALLY Ready to Sell Your West Bank Home?
• Why Do a Pre-Inspection When Selling Your New Orleans West Bank Home
• Make Your Home the Star of the Neighborhood - Stage It!
• What Buyers Are Saying About Your Home
• 5 Dos and Don’ts for Home Sellers
• 4 Things You Should Expect From Your Agent When Selling Your New Orleans West Bank Home

If you are considering selling your West Bank home, I’d be honored to have the opportunity to share my marketing plan and local expertise with you. 

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Moving On Up

Are you bursting at the seams of your home, but think it’s not a good time to move up in the current New Orleans West Bank real estate market? 

You couldn’t be more mistaken.  Is the market tough right now - yes it is.  But homes that are priced right and in excellent condition ARE selling and will continue to sell.

While you may be thinking to yourself that you don’t want to "give away" your home at today’s prices, apply that same logic to your newer, larger dream home. 

As an example, a decline in price of 10% on a $150,000 home is equal to $15,000.  That same 10% discount on a $300,000 is $30,000.  Hmmm….looks to me like in the long run you may realize a savings by taking advantage of the current buyer’s market.

Of course, before you jump into the fray, there is the tried and true advice that every seller needs to follow about getting their home ready to sell and choosing the right person to help them do it.

• Home Selling Tips: Curb Appeal
• Home Selling Tips: Clean, Clean, Clean
• Home Selling Tips: Clear the Clutter
• Home Selling Tips: Neutralize
• Home Selling Tips: Staging Your Home
• What to Expect From Your West Bank REALTOR®

Need more information about selling your West Bank home?  Contact Lisa Heindel for professional real estate advice from a local expert.

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Louisiana Bond Money Available to West Bank Home Buyers

Good news for home buyers on the West Bank of New Orleans!  The state of Louisiana has issued bond money that can help reduce the amount of cash you need to purchase your next home.

With a little assistance from the seller, you may be able to move into your next home with minimal cash out of your own pocket, allowing you to keep some of your funds in reserve for improvements or repairs as they are needed.

Of course, you need to read and understand the fine print of any loan program!

• The current interest rate for bond money loans is 6.625%
• The bond assistance equals 4% of the mortgage amount and can be applied to your down payment and/or closing costs
• Bond regulations require you to owner occupy the home for 8 years or a portion of the assistance must be repaid upon the sale or rental of the property
• Income limits apply based on the location of the property and the number of members in your household

Interested in learning more about Louisiana bond loan programs?  Contact Lisa Heindel for a referral to a local lender who is well versed in all of the state and parish bond issues.   Let’s get to work on your next home today!

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Reason #264 to Hire a Local REALTOR®

OK, so I haven’t really laid out #1 through #263 for you.  We’re skipping ahead today, to one of the most important reasons you should make sure that the REALTOR® you hire to market and sell your home is a local one - especially if you have already moved to another city or state.

Now that this week’s threat of hurricanes has passed, I spent part of today checking in on all of my vacant listings and putting the signs back up.  At each house, I took a quick walk through, making sure that I didn’t see any signs of damage that weren’t visible from the street.

It’s a good thing that this seller didn’t hire an agent from another part of town that may not have wanted to drive over and check out the property…

                      

YIKES! - a leak in the screened patio roof is causing a mold/mildew substance to grow on the sheetrock ceiling.  Can you imagine what this would look like if left unchecked for a long period of time?  Because we are catching it early, my client can contact their insurance company and start the claims process to get this damage repaired quickly.

If you have your New Orleans West Bank home on the market and you are living out of town, be sure to ask your agent to thoroughly inspect your property for any obvious signs of damage. 

Hopefully, they don’t have too far to drive.

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

What Sellers Can Expect From A Home Inspection

Agents spend a lot of time explaining the inspection process to home buyers, but too often the home seller has no idea what to expect once a contract is received and the inspection period starts. 

In Louisiana, inspections are typically performed within 10-15 days from the date the contract was accepted and there can be a flurry of activity at your home depending on how and when they are scheduled.  Personally, I always try to get all of the inspections done in a single day to minimize the time that the seller needs to be out of the house and the time that a buyer needs to take away from work and family.

After a conversation this week with a seller who wanted to know exactly what the inspectors would be looking at, I decided to put together a short list of items to answer that question. 

General guidelines

The inspector should be able to easily access not only the interior of the home, but the attic and garage as well.  They are not allowed to move things while doing the inspection, so it is incumbent on the seller to be sure that they are able to perform a thorough inspection or you may be asked to pay for their return trip if one is needed.  Termite inspectors need to be able to access all of the bath traps as well, so if yours are in closets, be sure to clear a space for them.

Exterior

The inspector will be looking at the entire exterior of the home, checking out the condition of the windows (do they open/close or have cracked panes), bricks/siding (is there any damage, cracking or rot), roof, and outside HVAC equipment.

Interior

There are many small things that go on during the home inspection, such as opening and closing doors and cabinets, reviewing the condition of counter tops, vanities and sinks and testing light fixtures.  This part of the inspection is where many sellers think that the inspector is “nit picking”, but remember that his job is to inform the buyers of everything that he can about the house, from the obvious defects right down to the nicks in the walls from doorknobs.

Mechanical

Any appliances remaining with the home are tested if possible.  This includes checking all stove burners and oven settings, along with running the dishwasher, disposal and any other appliances included in the sale.

HVAC

Testing of the HVAC system includes physically inspecting the units and testing for the appropriate temperature change when the AC or heating is turned on.  Since having the system cleaned and serviced is a recommendation on 99% of home inspection reports, sellers should consider having this done before putting the house on the market.

Attic

Methods of construction are noted by the inspector, along with any visible signs of previous repairs or repairs that may be needed due to water intrusion or termites.  Additionally, they check for exposed wiring, the condition of the AC duct work and whether or not there is sufficient insulation in the attic and walls.

Roof

The decking of the roof is inspected from the attic and the condition of the shingles and flashing are inspected from the exterior.  The inspector will note if the roof is installed properly, if there are any missing or damaged shingles and if there appear to be any potential problems that could cause leaks or other damage.

Electrical

Outlets are tested to determine if they are “hot” and whether or not they are grounded.  The circuit breaker box is also inspected to ensure that the appropriate amount of amps are being supplied to the house and to be sure that there is not a fire risk from overloaded breakers.

Plumbing

Tubs and sinks are filled and drained, toilets are flushed, and visible piping is inspected for leaks.  If there seems to be a problem with drainage, the home inspector may recommend a separate inspection to perform a video of the underground plumbing to determine what the problem is.

My favorite home inspector provides a comprehensive report complete with photos, making it easy to understand what he is referencing in the report.  Sellers should remember that the buyer has the right to walk away without any explanation if they are not happy with the results of the home inspection.  This is where completely disclosing everything that has ever happened to the house becomes an issue.  Oftentimes, the home inspector will find issues that the home owner knew about but did not disclose.  This sets the stage for the buyer to become uneasy about the home and when buyers are uneasy they generally move on to another property.

Most buyers, however, will request repairs if they deem them necessary.  All of these requests must be in writing and accompany a copy of the written inspection report.  Sellers have 72 hours to respond (also in writing) and there are several options available.  You can offer to correct all, some or even none of the items requested.  Or, you can offer to renegotiate the selling price based on the home’s condition.  Sometimes it is a combination of adjusting the sales price and making some repairs.

Remember…deals have been broken over inspection results!  My usual advice to home sellers is that if this buyer is asking for a particular repair, then the next one more than likely will too.  There are some issues that buyers just don’t want to deal with and a seller who is not willing to make repairs or lower the price of their home to account for those repairs may be in for an extended time on the market, not to mention the emotional ups and downs of thinking your home is sold and having a deal canceled.

Related reading

Why Do A Pre-inspection When Selling Your New Orleans West Bank Home?

About Louisiana Property Disclosures

Need more information about selling your West Bank home?  Contact Lisa Heindel for a confidential and complete market analysis or if you just need a little home selling advice.

Copyright 2008.  West Bank Living  All rights reserved.

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