What’s Inside
- Five Honest Reasons Why Some Homes Don’t Sell
- Cool Home Tech
- My Personal Guarantee to YOU
- May Sales Report & Prospects: Arlington County
- Summer Checkup!
Five Honest Reasons Why Some Homes Don’t Sell
Even in the strong seller’s market we are currently experiencing, there are still some homes that just don’t sell. It can seem confusing why one home in a neighborhood sells quickly while a similar home sits on the market for months.
But I know from long experience that there are always some pretty clear-cut reasons why a certain home didn’t sell.
An educated and honest appraisal is all that’s required to figure out where the seller or agent went wrong. I’ve come to realize that there are five typical mistakes that home sellers and agents tend to make time and again.
Mistake #1- Not having professional photographs taken of your home.
These days, everyone’s a photographer. But few people, Realtors® included, know how to take good photographs of homes. You have to view your house from a buyer’s perspective. Pictures sell a home. It’s one of those clichés that happens to be largely true. If you want to generate a large volume of interest for your home, get professional photos taken, or at the very least have someone edit your existing photos to bring out the best in them. (I can do this for you)
If your home looks bad on the internet, you will probably suffer a lack of interest.
Mistake #2- Not cutting the apron strings from your home
Your house is not about you. It’s about your buyer. Photos of you and your family on the walls are a huge turn-off to any potential buyer. The goal should be to provide as much of a neutral atmosphere as possible. A potential buyer needs to be able to envision their new life in your home. Get rid of anything too personal, like abstract paintings, colorful or busy rugs, hangings, art, etc.
Mistake #3- Not offering buyers an enticing incentive
Everyone’s looking for a deal. Even if your home is one of the nicer homes on the market in your area and price range, it can still sit for months if you don’t offer buyers something to sweeten the deal. Even a small incentive such as offering to pay for a year of lawn care can tip the scales in your favor. People always respond when they are offered something extra!
Mistake #4- Failing to pay proper attention to curb appeal and cleanliness
The first impression any buyer will get when they visit your home is the condition of the exterior. You really need to put a lot of effort into making your home look amazing from the street. Make sure your lawn is cut and any landscaping is in top form. Inside the home, make sure that key areas (living room, kitchen, bathrooms) are in a state of perfect cleanliness. Overall, get rid of the clutter and present a clean, neutral space.
Mistake #5- Pricing Your Home Too High
This is the biggest mistake sellers and their realtors® make. Listing a house above market value will almost always end badly for you. It’s much better to actually start lower than market value because this gets buyers’ attention. Once the attention has been garnered, you will get more than one buyer interested, and a bidding war will often ensue.
Want to see the full report with in-depth insights?
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Cool Home Tech: The Nest Learning Thermostat
There are a bunch of new ‘smart’ thermostats on the market, but the one that I find most intriguing is the Nest Learning Thermostat.
Basically, the Nest Thermostat learns your daily routine in a few days, and then starts to automatically adjust heating and cooling settings accordingly.
From the official website:
‘Programming thermostats is complicated and irritating -but an un-programmed thermostat can waste 20% of your heating and cooling bill. So the Nest Thermostat programs itself. Just turn it up and turn it down. The Nest Thermostat learns what temperatures you like and builds a personalized schedule. Teach it efficient temperatures for a few days and, within a week, it’ll start setting them on its own.’ – www.nest.com/thermostat/life-with-thermostat
The company also offers a free smartphone app that allows you to remotely control all functions of the Nest thermostat from your cell. The app is currently available for Apple devices, with an Android version scheduled to be released in December.
For more information on the Nest, go to: http://www.nest.com
My Personal Guarantee: If at any time you are dissatisfied with me as your listing agent, you can fire me! No strings attached, I guarantee my performance.
If any other agent won’t guarantee their services, ask them why? You’re staking the successful sale of your home on their abilities- why shouldn’t they stake their commission the very same 
way? We place our priorities in the same place as yours. Want to learn more about my sales and marketing process, and how I can help you achieve your selling goals?
Call me anytime at 571-305-2405, or email me at lsagatov@kw.com.
To get free comps and market statistics for your home today,
CLICK HERE
May Sales Trends and Current Housing Prospects in Arlington
As part of my monthly real estate research, I look at sales statistics for key areas of Northern Virginia. I see what the sales trends are, and what the current inventory looks like. This month I took an in-depth look at recent sales activity in Arlington County. 105 homes sold in Arlington in May; 59 homes under $850,000 and 46 homes over $850,000.
Here are the numbers:
Home Sales – May 2014
- – 105 sales
- – Average List Price: $925,606
- – Average Sold Price: $929,309
- – Average Lot SF: 8,698
- – Average Living SF: 1,623
- – Average Days on the Market: 29
Home Sales Under $850,000
- – 59 sales
- – Average List Price: $677,561
- – Average Sold Price: $689,231
- – Average Living SF: 702
- – Avg Days on Market: 25
Home Sales Over $850,000
- – 46 sales
- – Average List Price: $1,261,726
- – Average Sold Price: $1,253,311
- – Average Living SF: 2,871
- – Avg. Days on Market: 33
Market Insights
The Arlington housing market was on fire in May. The number of homes sold rose 26% from April, and the average sale price went up over 5%. On average, the sale price was HIGHER than the list price for homes sold in May. This means that many homes received multiple offers, which pushed the price above asking price in many instances.
Current Inventory
As of the end of May there are 224 single-family homes listed for sale in Arlington. Countywide, the current inventory is at a very healthy level. It looks as if the strong seller’s market we’ve experienced over the past 18 months is starting to rebalance.
In zip code 22205 there are currently 22 homes listed for sale. This zip code is still experiencing a lack of inventory, and a strong seller’s market persists.
In zip code 22207 there are currently 100 homes for sale. This is a healthy amount of inventory for the area, with favorable conditions for both buyers and sellers.
Want to learn more about Arlington Real Estate? Please feel free to call me any time at 571-305-2405, or email me: lsagatov@kw.com.
Want the latest information on real estate sales and offerings in your neighborhood?
And I’ll send you an in-depth report with the most recent sales figures, the current inventory situation and a list of homes for sale in your neck of the woods, free of charge!
Summer Checkup!
This winter was pretty brutal. Now that the spring pollen has died down and warm weather is finally here to stay, it’s a good time for your yearly DIY home inspection
Inspecting your home’s exterior and vital systems from time to time is a good idea. Especially after the kind of winter we had this year!
Here is a simple list of things that you should inspect on your home at least once a year:
On the Exterior:
- Check your gutters and downspouts for any blockages, and make sure your gutter leads extend at least 5’ from the home.
- While you’re up on that ladder, take a look at the roof. You want to look for anything that sticks out (cracks, missing or curling shingles, any signs of rot on the soffit, trim, etc.)
- After a heavy rain, walk around your property and look for any drainage issues
- Check the siding for any signs of rot or discoloration.
- Inspect the sill and the foundation. Look for cracks and bulges, or any signs of rot or insects.
- Look for any cracks in the hardscaping around the home (driveways, walkways, porches and patios etc.)
- Inspect wood porches and decks for any signs of wood rot, loose or cracked boards, sagging ceilings, etc.
On your Vital Systems:
- Check in around your HVAC system. Clean out any dust both inside the system and on the outside. Replace your air filter if necessary (this should be done every 60 days).
- Test your sump pump to ensure that it is operating properly. Also, check the pit for any debris that may have collected.
- Clean out all sink, tub and shower traps. If you can easily access it, open the sewer main clean out, and clean out any collected debris.
- Clean any dust or dirt from around your hot water heater, and inspect it for signs of rust.
Ok, so you walked your home and checked these things out. Now what? If you have found issues, it’s a good idea to consult a professional about what needs to be done about them. Some are cosmetic, and may not be worth addressing. Others may need to be addressed to prevent further damage.
A good contractor can tell you what the root cause of any issues is, and what options are available to fix them. The good news is that if you conduct a home inspection now, you have plenty of warm months ahead to remedy any issues you find!
If you would like to chat about DIY home inspections, or if you have conducted one
and need some guidance, I always love to help!
Please feel free to call or text me at 571.305.2405, or email me @ lsagatov@kw.com
Cheers to a great summer!
Lou Sagatov
P.S. If you or anyone you know is looking to sell, buy or invest in real estate, please call/text me at 571-305-2405, or email me @ lsagatov@kw.com – Thank You!