Appraisals and Today’s Market

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As our market has began to shift we are now going through the growing pains of it seeming to slowly but surely be changing from a buyers market to a sellers market.  In Roanoke, Virginia we still have  quite a bit of inventory on the market but we are starting to see homes sell faster than they have been in the last several years.  As of today we have about a 9.26 month’s supply of inventory, down from what it was last year at this time at 11.03 month’s supply.

With comps coming from the soft market its making it tough for both Agents and Appraisers to determine the true market value of a home.  Tax assessments are no longer the factor they once were in market value because they were still elevated when the market was down.  Finally they lowered them to meet the market conditions only a day late and a dollar short for homeowners, now that the market is improving they’re still low instead of high which can lead buyers to believe the homes are overpriced in relation to the tax assessed value.  Honestly tax assessed value has never truly been the best way of determining the right price anyway because many times the assessors don’t go inside and have no idea what the home truly offers but consumers and agents have used it as a factor and still do.

The owner of my Title and Settlement company the other day said “I’m swamped this is like 2006 all over again”.  That was a terrific email to read and I think we are definitely headed in the right direction.  We’re even starting to see multiple offers and bidding wars on some listings.  This primarily happens when the homeowner prices the home competitively to sell vs overpricing it.  No matter what an agent does to market, advertise, and expose a home in the end, it boils down to three factors, price, condition, and location.  These are the biggest factors buyers use to determine which home they’re going to actually place an offer on.

It may be smart for sellers to pay for an appraisal up front as we transition through the next year or so and are able to get sufficient comps to price property.  Especially if you’re working with a new or inexperienced agent who hasn’t specialized in listing and marketing property.  I would highly advise you to interview a few companies and agents before choosing the one that’s going to list your home for you.  Find out what their track record is for actually getting listings sold.  Working with buyers and working with sellers are truly two completely different businesses.

Having an appraisal done up front will give you something to provide to other Realtors, buyers, and to the appraiser who comes out for the buyer’s loan.  It will cost anywhere from roughly $300-$550 and the buyer’s lender won’t be able to actually use it because of underwriting guidelines being changed as a result of the soft market and lenders can no longer choose which appraiser they use like years passed.  An agent can do very similar research to that of a formal appraisal but having the formal report done by a certified appraiser can hold more weight than an agent’s opinion.

To determine the value I am looking at what homes similar sold for back in the decent market years ago, what we’re in competition with meaning what other homes are currently for sale that buyers will also be looking at  Because that’s critical, you certainly don’t want to be the one priced higher than all the others unless you have something to substantially justify it.  And last, looking at what’s sold in the last 4 to 6 months since the market has shown consistent improvement.

There’s no magical way to determine exactly the right price for a home, and honestly you could stand 10 agents in a line and get several different opinions about the right listing price that will cause your home to sell.  It’s a tough conversation to have for many agents as well.  I coach agents across the United States in addition to selling homes here in Roanoke, Virginia.  And one of the biggest challenges my agents have is discussing price with potential sellers and being able to tell the seller the truth and not what they want to hear because they’re afraid of offending them or losing the listing.

As a professional I believe we owe it to you as our consumer to be honest and up front with you about this and not just take the listing at any price.  It only hurts you in the end as a seller to sit on the market month after month at a price that isn’t causing the home to sell.  One of the first questions buyers ask is, “how long has the home been on the market?” the second question generally is, “have they had any offers?”, if not next is, “what’s wrong with, why do you think it hasn’t sold”.  The best route to take is to be pro active and competitive with price this will cause the home to sell, remove any concerns about appraised value, and get you to where you need to go.

If we can be of support to you with buying or selling a home in Roanoke Virginia and surrounding areas, we would love the opportunity to interview with you and apply for the job of helping you.  Our team has over 25 years combined experience and have participated in closings thousands of homes.  I truly believe we have the experience, expertise, and service you’re looking for.  Please visit our site on Zillow.com to see some of our recent past client reviews:

http://www.zillow.com/profile/thecrouchteam/.  And I invite you to visit our website as well at thecrouchteam.com to see some of the wonderful homes we currently have for sale and to discover more about our team and how we can help!

 

 

 

Roanoke Virginia Year To Date Market Statistics

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I cannot believe it’s already the end of April!  I wanted to share the housing market stats for Roanoke, Virginia and surrounding areas. 

Please see the report below from our MLS.  If you are thinking of buying or selling a home in Roanoke, we would love the opportunity to help you. 

We have sold 37 homes already this year and feel we have the experience and expertise you would want.  Please visit our website at http://www.thecrouchteam.com to discover more about our team and how we can help you and the homes we currently have for sale.

 

Property Type Year to Date Activity Report

 

For 01/01/2013 To 4/30/2013

Property Type
Area
Current Active
New
Pend
Sold
Sold Volume
Average Sales Price
DOM
CDOM
% Of List
Coop Sales
Coop Volume
Expr
Withdrawn
Residential
0110 – City of Roanoke – Downtown
8
6
1
1
780,000
780,000
179
186
86.8
0
3
0
Residential
0120 – City of Roanoke – South
91
81
29
22
5,666,134
257,552
184
265
95.1
19
4,889,134
19
3
Residential
0130 – City of Roanoke – SW
167
208
73
76
12,560,811
165,274
105
162
93.6
67
11,417,311
47
4
Residential
0140 – City of Roanoke – NW
170
163
32
63
3,912,940
62,110
129
178
91.4
54
3,333,390
56
2
Residential
0150 – City of Roanoke – NE
177
184
44
82
7,661,822
93,437
115
187
96.3
75
7,154,822
57
4
Residential
0160 – City of Roanoke – SE
60
58
11
29
1,308,314
45,114
112
160
93.5
24
1,042,364
7
2
Residential
0170 – City of Roanoke – Garden City
29
33
6
19
1,545,303
81,332
95
163
96.4
16
1,255,303
11
0
Residential
0210 – Roanoke County – North
187
214
71
80
14,006,439
175,080
116
182
96.7
71
12,503,839
59
3
Residential
0220 – Roanoke County – East
56
64
21
34
6,046,050
177,825
111
176
96.4
33
5,897,050
28
1
Residential
0221 – Roanoke County – Town of Vinton
51
56
14
18
1,797,156
99,842
108
147
97.4
17
1,653,656
10
1
Residential
0230 – Roanoke County – South
285
338
122
130
30,806,248
236,971
118
188
95.0
113
27,324,682
106
7
Residential
0240 – Roanoke County – West
91
93
45
40
8,500,184
212,505
145
243
96.8
38
8,247,884
35
3
Residential
0300 – City of Salem
158
173
52
60
9,462,272
157,705
116
200
94.2
51
8,207,472
46
8
Residential
0400 – Franklin County
722
528
107
130
27,580,557
212,158
207
320
93.1
106
23,003,158
184
15
Residential
0500 – City of Bedford
31
28
11
13
1,574,700
121,131
130
148
96.1
9
1,078,200
5
4
Residential
0600 – Bedford County
481
345
67
106
21,667,542
204,411
181
282
94.4
84
17,452,142
94
12
Residential
0700 – Botetourt County
249
249
75
98
19,503,169
199,012
140
212
95.1
83
17,008,719
67
12
Residential
0800 – Craig County
34
27
5
7
680,300
97,186
133
157
92.7
4
363,900
3
2
Residential
0900 – City of Radford
1
1
0
0
80
80
0
0
0
Residential
1000 – Montgomery County
30
37
14
13
2,146,750
165,135
118
129
94.5
9
1,722,800
1
0
Residential
1100 – Floyd County
53
32
6
10
1,296,400
129,640
182
201
95.6
4
412,500
14
0
Residential
1200 – Patrick County
7
6
3
1
65,000
65,000
228
250
100.0
1
65,000
2
0
Residential
1300 – City of Martinsville
12
12
1
9
567,499
63,055
115
126
88.7
7
437,499
6
0
Residential
1400 – Henry County
52
45
11
10
661,003
66,100
104
107
89.3
9
526,003
16
2
Residential
1500 – City of Danville
0
0
0
0
45
45
0
1
0
Residential
1600 – Pittsylvania County
40
23
2
7
761,700
108,814
217
280
87.9
6
595,200
4
0
Residential
1700 – Halifax County
0
0
0
1
21,799
21,799
42
42
80.7
1
21,799
0
0
Residential
1900 – City of Lynchburg
14
13
5
4
636,800
159,200
233
250
96.9
2
304,800
1
1
Residential
2000 – Campbell County
14
13
4
3
505,299
168,433
139
139
92.8
2
275,299
2
1
Residential
2100 – Appomattox County
2
2
0
0
45
45
0
0
0
Residential
2200 – Amherst County
2
3
1
2
305,900
152,950
85
115
99.5
0
0
0
Residential
2300 – City of Buena Vista
1
1
0
0
39
39
0
0
0
Residential
2400 – City of Lexington
0
1
1
0
83
83
0
0
0
Residential
2500 – Rockbridge County
18
11
1
1
225,000
225,000
167
188
100.0
1
225,000
5
0
Residential
2600 – City of Covington
3
3
0
2
69,000
34,500
76
76
88.6
1
34,000
0
0
Residential
2700 – Alleghany County
20
10
0
3
142,000
47,333
190
211
89.6
2
102,000
0
1
Residential
2800 – Giles County
1
1
0
1
36,299
36,299
85
85
100.8
1
36,299
0
0
Residential
3000 – Pulaski County
3
4
0
1
22,000
22,000
79
102
81.5
1
22,000
1
0
Residential
3100 – Wythe County
1
1
0
0
44
44
0
0
0
Residential
3300 – Carroll County
3
1
0
3
176,250
58,750
272
272
95.1
2
132,250
1
0
Residential
9900 – All Other Counties/Cities
3
3
0
2
79,995
39,998
83
93
103.5
2
79,995
1
0
Subtotal
3327
3071
835
1081
182,778,636
169,083
148
224
94.6
915
156,825,470
892
88

Spring Home Improvement Ideas

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Just got this article from The National Association of Realtors site about some great ideas for spring home improvements.  Hope it’s helpful and informative.
If you are thinking of buying or selling a home in Roanoke, Virginia and surrounding areas I would love to interview with you and apply for the job of helping you with your housing needs.  Our housing market has picked up incredibly over the last few months and I feel this is a great year for both buying and selling.  We are right in the midst of a transitioning market from a buyers market to a seller’s market so it’s still a good time on both ends.
Our team has sold 31 so far this year and with over 28 years combined experience in helping consumers buy and sell a home I am confident we have the expertise you’re looking for and will be sure to take excellent care of you!  Please visit our profile page on Zillow.com at
 http://www.zillow.com/myzillow/Profile.htm to see some of our past client testimonials.  And please visit our website at www.thecrouchteam.com to discover more about our team, how we can be of support with your housing needs and to see some of the beautiful homes we currently have for sale.  Here is the article I mentioned:
Spring Home Improvements: Repair, Replace, Enjoy!
With memories of snow and cold fading, it’s time to remind home owners to take stock of important work to be done for themselves and potential buyers down the road. Keeping on track with seasonal maintenance will lower costs and raise value.

   April 2013 | By Barbara Ballinger

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–> 










Besides cleaning closets and planting flowers and cool-weather vegetables, spring should involve scrutinizing the condition of a house following the rough winter. Repairs and replacements won’t just help owners enjoy their properties more; they’ll also keep energy costs down as hot weather rolls in and attract more buyers, many of whom have become meticulous about inspecting roofs, appliances, and HVAC bills.


While most home owners need to prioritize costs, these 10 improvements are at the top of many contractors’ lists. Some of them are even more affordable than ever before, thanks to rebates from local communities, utility companies, and the federal government.


1. Replace windows


If home owners’ houses felt drafty this past winter and they have single-pane windows, there’s a good chance those were one of the culprits. But replacing them all can be costly — $400 to $500 per window, plus $100 to $150 for installation, according to home improvement expert Tom Kraeutler of The Money Pit. Whether that’s the place to spend dollars should depend on how long home owners plan to stay put or what houses listed in their neighborhood offer if they’re selling. “If they’re the last ones with old, rotting-wood windows, that negative may affect buyer attention,” Kraeutler says. This year’s “Cost vs. Value” report from Remodeling magazine pegs the payback for vinyl windows at 71.2 percent and for wood windows at a similar 73.3 percent. A less costly alternative can be to add storms, caulk, weather strip, or rim joists in a basement. Contractor Paul Eric Morse of Morse Constructions Inc. in Somerville, Mass., suggests gradually replacing windows in any room that owners remodel to make the cost less prohibitive.


12 Key Questions to Ask Before You Hire Home Improvement Pros


1. Can you show me proof of a license, certification, or associations you belong to? 2. Are you bonded? 3. Will you provide three recommendations? 4. What are your specialties — kitchens, bathrooms, or additions? Are there jobs you don’t like to tackle? 5. Will you secure permits? 6. How much must I pay up front for work? 7. Do you have a regular team of subs, or assemble different members? 8. How might we resolve conflicts — will resolution be in the contract? 9. How often will you show up at the job site to check progress? 10. How might I reach you — e-mail, phone, text? 11. What is your typical clean-up schedule — daily or weekly? 12. Will you provide a lien release when work is done?


2. Install a new heating system and change filters 


If a seller’s furnace and boiler were on their last legs this past winter, it may be time to install a new one, or at least provide sellers with a credit toward new equipment. Any choice should carry an EnergyStar label for best results. Existing systems still in good condition should have filters checked monthly and replaced when dark and clogged, a DIY project. For great energy efficiency, Morse is installing more heat exchanges that provide both heat and air conditioning and can be less costly than a new central air system with new ducting and a new furnace.


3. Clean air conditioning units 


Before summer temperatures rise and HVAC pros are swamped, advise home owners to clean coils and change filters so their system doesn’t have to work as hard. They should also have drain lines cleaned, so moisture is eliminated, says Douglas Tompkins, with Pro-Air Heating and Cooling in Newburgh, N.Y. If they haven’t had air conditioning, now’s the time to weigh choices of a central system, heat exchange, or room units.


4. Install more insulation


A home’s first line of defense to stop cold or hot air — depending on the season — should be the attic, according to most contractors. An energy audit can determine how much more is needed, if they already have some. Seattle-based contractor Ron Rice, of Your House Matters, suggests adding more than the minimum 8 inches required by most local codes — up to 16 inches. For cold climates, installing electric or hydronic radiant heat under bathroom and kitchen floors will provide comfort next season.


5. Switch out inefficient appliances


Sometimes appliances are no longer smart to repair. The determining factors for that should be their age and the cost of repair versus replacement. Here, too, top choices carry an EnergyStar label. If home owners need to replace most of their kitchen equipment and have a limited budget or plan to move, Rice suggests they prioritize and first switch out the range, followed by the refrigerator, dishwasher, and microwave — in that order.


6. Repair or replace roofs, gutters, and downspouts


Because of the tough hurricane season last fall and the winter blizzards, roofing contractors in many parts of the country have been busy. Morse recommends that those needing new roofs consider architectural asphalt shingles because of their long warranties (often 50 years), affordable prices, and attractive appearances that work with many house styles. In addition, many contractors have the equipment and experience to install roofs of this material, as opposed to metal. He also recommends that home owners have gutters and downspouts cleaned come spring so that water can flow through them; gutters should be angled away from a house to stop water pooling around a foundation and seeping into the basement. Gutter covers can be helpful but often don’t eliminate all debris.


7. Paint


Damage often shows up at this time of year, especially in climates where there’s been a lot of snow melting or winter rains, Morse says. Use the time to reassess your color choice for better curb appeal. Even changing the front door’s color can make a difference.


8. Prune trees


Cutting limbs that may have been damaged during winter and that might fall on a roof or allow squirrels to enter a house is smart, and it can be a cost savings later on. Called “thinning out,” this method gets excess foliage trimmed to allow more natural light into a house—and cut down on artificial illumination, says Sacramento, Calif.-based landscape designer Michael Glassman. “It opens the tree so you don’t have dead spots in the interior and lets the tree take advantage of air flow rather than chop off the top,” he says. A certified arborist will know the best ways to do this without removing too much of a canopy, which is useful for privacy and shade.


9. Mulch plantings


Along with fall, spring is a key mulch time. Mulch helps plants thrive by holding back weeds, retaining moisture so soil doesn’t dry out, and adding a tidy look, Glassman says. Use bark, shredded fir, leaves, straw, or grass clippings.


10. Replace lightbulbs


When it comes to artificial light, most contractors recommend switching burned-out bulbs to LEDs, which last longer than incandescents, consume less energy, and have come down in price — now often just $10. Quality has improved, too, and they’re dimmable and available in colors.


One more thing: Before you hire anybody to take on work, get a written estimate. Better to be safe than sorry.









					


		
	


				
					


	

		
Stage Your Yard


				

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We always hear about staging your home but not much mention of staging your yard which happens to be one of the most critical factors in whether or not a buyer will choose to schedule an appointment to see your home.


In most cases in today’s market you’re going through a two step elimination process before a buyer ever walks in your front door.  First, most buyers are shopping online and deciding which ones they like from the photos and information they obtain.  Second in most cases they will drive by to see the outside, the location, the neighbors, etc. before deciding which homes they want their Realtor to show them.


Your curb appeal should be clean, crisp, inviting, and well maintained at all times.  As the spring season has approached the following things will help ensure your curb appeal is at its best:


1. Keep lawn freshly mowed at all times


2. Paint anything that isn’t bright and clean or that is chipping or peeling outside


3. Re mulch so there’s always a nice fresh layer of mulch on your flower beds


4. Keep weeds away they don’t look nice


5. Power wash decks, porches, walkways, the house and the roof if necessary


6. Clean your windows and take screens off the front windows.  No screens on the front with nice clean windows makes a HUGE difference


7. Trim shrubs below window height and keep them in nice shape


8. Plant some nice bright flowers and put a few flower pots at the front door with nice bright flowers


10.Keep your for sale sign straight and sturdy in the ground when you remove it to mow put it back right and make sure its visible


If we can be of support to you with buying or selling a home in Roanoke, Virginia and surrounding areas we would love the opportunity to interview with you and apply for the job of helping you.


My team has almost 30 years combined experience in the real estate industry and have participated in closing thousands of transactions.  We feel we have the experience and expertise you’re looking for.  Please visit our website at www.thecrouchteam.com to discover more about our team and how we can be of support to you with your housing needs.


Also please visit our page on Zillow.com at http://www.zillow.com/profile/thecrouchteam/Reviews?my=y to see some of our past and current client testimonials.


I can be reached at christycrouch@aol.com or on our office number 540-725-7727.

					


		
	


				
					


	

		
Are We Truly In A Seller’s Market In Our Area?


				

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Unfortunately, not quite yet.  I’m sure you’re hearing all over the news about how the housing market is recovering and even transitioned from a buyers market to a sellers market.  Without a doubt our local housing market in Roanoke, Virginia has improved and has been doing so consistently for several months now.  I just did some market research to see exactly how our market looks in regard to the saturation factor and we still have over a 10 month’s supply of inventory sitting on the market.




I believe we will undoubtedly get back to a sellers market in our area within the next 4-6 months but we aren’t quite there yet.  For buyers this means NOW is the time to buy before prices begin to go up in our area.  For sellers this means you’ll need to still have a bit more patience as we go through the transition in the next few months.  Price is still very critical in what’s going to sell vs what’s going to sit on the market.




We all know buyers are looking for where they can get the best value.  At the end of the say honestly it doesn’t matter what an agent does to market your property.   They could run a full page color ad on the front of every newspaper and magazine known to man and if it’s not priced right and in good condition it’s not going to be the most valuable home on the market.  In the end three things are what cause a home to sell; price, condition, and location.  Since you can do something about price and condition, by all means you want to be looking at those to factors very seriously as you are trying to sell your home.




If you are thinking of buying or selling a home in Roanoke, Virginia or surrounding areas I would love for our team to interview with you and apply for the job of helping you.  I have sold 29 homes so far this year and am confident we have the experience and expertise you’re looking for.  Please call us at 540-725-7727 or email me at christycrouch@aol.com.  You may also visit our website at www.thecrouchteam.com to discover more information on our team and to see some of the great homes we currently have for sale.  If you haven’t already and would like to follow us on Facebook please find and like our page at Christy Crouch, The Crouch Team or clicking this link https://www.facebook.com/#!/pages/Christy-Crouch-The-Crouch-Team/277919182241225




You can read reviews about our team on my page on Zillow.com as well by clicking this link:  http://www.zillow.com/directory/roanoke-virginia/real-estate-agents/christy-crouch?frmsrch=true.  Please see below for our most up to date stats on the saturation factor in Roanoke, Virginia.


-11M-11J-11J-11A-11S-11O-11N-11D-11J-12F-12M-12A-12M-12J-12J-12A-12S-12O-12N-12D-12J-13F-13M-13Active, Sold and New Listings; and Inventoryfor MLS of Roanoke Valley, Inc. on 4/15/2013 at 9:31 AM8010121416181,0002,0003,0004,0005,000 Inventory at Rate of Sales (columns)# of Listings (lines)Months of Inventory, N-11, 14.73Months of InventoryActive ListingsNew ListingsSold Listings









Active Listings
New Listings
Sold Listings
Months Inventory




Mar – 2013
3,197
876
294
10.87




Feb – 2013
3,101
659
270
11.49




Jan – 2013
3,056
630
236
12.95




Dec – 2012
3,224
393
259
12.45




Nov – 2012
3,405
478
297
11.46




Oct – 2012
3,588
612
355
10.11




Sep – 2012
3,672
608
295
12.45




Aug – 2012
3,775
637
381
9.91




Jul – 2012
3,781
671
304
12.44




Jun – 2012
3,794
687
370
10.25




May – 2012
3,804
723
345
11.03




Apr – 2012
3,655
828
288
12.69




Mar – 2012
3,552
816
299
11.88




Feb – 2012
3,437
639
256
13.43




Jan – 2012
3,353
711
204
16.44




Dec – 2011
3,606
405
249
14.48




Nov – 2011
3,858
502
262
14.73




Oct – 2011
3,995
580
296
13.50




Sep – 2011
4,202
665
282
14.90




Aug – 2011
4,297
705
344
12.49




Jul – 2011
4,416
698
340
12.99




Jun – 2011
4,439
841
373
11.90




May – 2011
4,321
811
347
12.45




Apr – 2011
4,266
879
291
14.66







					


		
	


				
					


	

		
Roanoke Valley Year To Date Market Stats!


				

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Good Morning and Happy Easter! Today is March 31st, 2013 and I wanted to post and share our market’s year to date statistics. The housing market in our area has consistently shown improvement over the last several months and we are very optimistic about this year continuing on this path.  


We have sold 27 so far this year and are in the midst of negotiating contracts on 4 of our listings. If you are thinking of buying or selling a home in Roanoke, Virginia or surrounding areas we would love the opportunity to interview with you and apply for the job of helping.


We truly feel we have the expertise and experience you are looking for and will take excellent care of all your real estate needs. Please visit our website at www.thecrouchteam.com to see the terrific homes we have for sale right now and to discover more about or team and how we can be of support to you with all your housing needs. 


Here are the market statistics:


Property Type Year to Date Activity Report


For 01/01/2013 To 3/31/2013 








 Property Type




 Area




 Current Active




 New




 Pend




 Sold




 Sold Volume




 Average Sales Price




 DOM




 CDOM




 % Of List




 Coop Sales




 Coop Volume




 Expr




 Withdrawn








Residential




0110 – City of Roanoke – Downtown 




6




3




0




1




780,000




780,000




205




214




86.8




0





3




0








Residential




0120 – City of Roanoke – South 




95




65




18




16




3,425,634




214,102




184




267




97.0




15




3,266,634




18




2








Residential




0130 – City of Roanoke – SW 




150




140




68




40




6,195,400




154,885




111




173




93.1




37




5,756,500




39




3








Residential




0140 – City of Roanoke – NW 




163




118




35




45




2,623,530




58,301




131




183




91.3




38




2,190,480




40




1








Residential




0150 – City of Roanoke – NE 




161




123




41




57




5,514,284




96,742




120




197




93.9




53




5,209,784




44




3








Residential




0160 – City of Roanoke – SE 




61




46




12




21




841,999




40,095




107




153




94.9




19




754,049




4




0








Residential




0170 – City of Roanoke – Garden City 




22




21




7




15




1,189,853




79,324




101




166




96.4




12




899,853




9




0








Residential




0210 – Roanoke County – North 




167




145




62




56




9,757,339




174,238




120




187




96.8




50




8,781,739




43




3








Residential




0220 – Roanoke County – East 




56




46




12




28




5,044,100




180,146




113




179




96.0




27




4,895,100




24




1








Residential




0221 – Roanoke County – Town of Vinton 




41




32




11




12




1,270,450




105,871




119




165




93.5




11




1,126,950




9




0








Residential




0230 – Roanoke County – South 




272




223




93




80




18,933,600




236,670




125




201




94.2




70




16,974,150




84




5








Residential




0240 – Roanoke County – West 




96




70




36




29




6,088,034




209,932




144




246




96.5




28




6,005,534




27




2








Residential




0300 – City of Salem 




142




125




39




45




7,020,332




156,007




119




208




93.8




39




6,312,432




42




5








Residential




0400 – Franklin County 




688




383




78




97




19,953,591




205,707




214




331




92.6




77




16,451,191




134




11








Residential




0500 – City of Bedford 




41




25




5




10




1,305,800




130,580




119




135




96.1




7




939,200




5




1








Residential




0600 – Bedford County 




448




234




58




74




15,586,526




210,629




189




296




94.4




62




13,444,026




68




6








Residential




0700 – Botetourt County 




241




178




58




68




14,096,550




207,302




145




216




96.0




53




11,602,100




54




14








Residential




0800 – Craig County 




30




19




7




3




228,400




76,133




135




163




90.0




1




47,000




2




1








Residential




0900 – City of Radford 




1




0




0




0






105




105





0





0




0








Residential




1000 – Montgomery County 




29




29




11




8




1,580,400




197,550




118




130




94.4




6




1,319,400




2




1








Residential




1100 – Floyd County 




52




21




4




9




1,236,400




137,378




186




206




95.0




3




352,500




11




0








Residential




1200 – Patrick County 




6




3




2




1




65,000




65,000




270




297




100.0




1




65,000




2




0








Residential




1300 – City of Martinsville 




15




12




4




6




414,000




69,000




102




113




93.9




5




395,000




4




2








Residential




1400 – Henry County 




44




28




11




7




464,655




66,379




108




111




82.9




6




329,655




13




1








Residential




1500 – City of Danville 




0




0




0




0






45




45





0





1




0








Residential




1600 – Pittsylvania County 




35




14




5




4




506,700




126,675




233




276




95.6




3




340,200




2




0








Residential




1700 – Halifax County 




0




0




0




1




21,799




21,799




42




42




80.7




1




21,799




0




0








Residential




1900 – City of Lynchburg 




11




8




2




4




636,800




159,200




258




277




96.9




2




304,800




1




0








Residential




2000 – Campbell County 




13




8




3




2




315,299




157,650




152




152




91.6




1




85,299




2




0








Residential




2100 – Appomattox County 




1




1




0




0






48




48





0





0




0








Residential




2200 – Amherst County 




2




3




1




2




305,900




152,950




75




105




99.5




0





0




0








Residential




2300 – City of Buena Vista 




1




1




0




0






24




24





0





0




0








Residential




2400 – City of Lexington 




1




1




0




0






79




79





0





0




0








Residential




2500 – Rockbridge County 




14




5




0




1




225,000




225,000




193




219




100.0




1




225,000




4




0








Residential




2600 – City of Covington 




2




2




2




0






79




79





0





0




0








Residential




2700 – Alleghany County 




19




8




2




1




25,000




25,000




182




205




83.3




1




25,000




0




1








Residential




2800 – Giles County 




1




1




0




1




36,299




36,299




77




77




100.8




1




36,299




0




0








Residential




3000 – Pulaski County 




2




4




0




1




22,000




22,000




68




91




81.5




1




22,000




2




0








Residential




3100 – Wythe County 




1




1




0




0






29




29





0





0




0








Residential




3300 – Carroll County 




5




1




0




1




44,000




44,000




259




259




93.6




0





1




0








Residential




9900 – All Other Counties/Cities 




2




2




2




0






82




94





0





1




0






 Subtotal


3137




2149




689




746




125,754,674




168,572




153




232




94.3




631




108,178,674




695




63







					


		
	


				
					


	

		
Selling Your Home?  Consider Getting A Home Inspection Up Front!


				

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Recently we’ve sold about 5 homes that have all had horrible home inspection reports come back.  Most of the sellers were caught off guard and surprised by what was found.  I know it seems strange that you live in your home daily and you think you would know if something were not working properly, safe, or structurally sound.  Having been in the business for over 23 years and participating in closing over 1,500 homes believe me, you would be amazed at how many sellers are dumbfounded, frustrated, overwhelmed and stressed out by what’s found.  It can cost thousands in some cases depending on what’s found.


In some areas it’s customary for sellers to do the home inspections up front, in my area it isn’t.  I have just decided to start recommending all our sellers get their homes inspected when they list it and go ahead and take care of all necessary repairs up front and retain receipts to provide to the buyer when it goes under contract.  Even though the buyers may still choose to have their own inspection, the benefits of a seller doing it up front are:


1.  There won’t be any major surprises


2.  They can negotiate the contract price based on knowing up front what repairs need to be done and how much they will cost vs being blindsided by it after they’ve already negotiated a contract price.


3.  They can take care of it up front instead of last minute trying to rush and find contractors that can do repairs on a moment’s notice.


4.  Much less stress for the seller this way.


5.  It can be a selling point for  buyer knowing the home has already been inspected by a professional inspector and that they also know there’s nothing major that will come up unexpected.


If you are thinking of selling your home or are already on the market talk with your listing agent to see how they feel about this and if it’s something they would recommend.  We worked out a reduced rate with the home inspector we generally use and recommend when working with buyers to do the inspection for our sellers.


If you are thinking of buying or selling a home in Roanoke, Virginia or surrounding areas we would love to interview with you and apply for the job of helping you.  We’ve sold 24 homes so far this year despite the market and feel we have the experience and expertise you’re looking for.  We offer a fully staffed full time team to ensure no detail is overlooked and that you are provided with excellent service whenever buying or selling a home with The Crouch Team.  Please visit our page on Zillow.com to see testimonials from our past clients at:  http://www.zillow.com/myzillow/Profile.htm where you may also see all the terrific homes we have for sale.  Also would love for you to visit our team website to discover more about how we can help you at http://thecrouchteam.com/?f6880680.  And last but not least if you’d like to keep up with us on what’s going on in our market and our team visit and like us on Facebook at:  https://www.facebook.com/#!/pages/Christy-Crouch-The-Crouch-Team/277919182241225.


 


 

					


		
	


				
					


	

		
Home Buyers Preferences


				

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Buyers’ Home Feature Preferences






Interesting news from The National Association of Realtors about the typical home buyer:


The National Association of REALTORS® just released its 2013 Profile of Buyers’ Home Feature Preferences, based on home purchases made between 2010 and 2012.

Geography and demography strongly influence what buyers value in a home. The typical home purchased was 1,860 square feet, built in 1996 with three bedrooms and two full bathrooms. Slightly over half of the homes purchased were on a single level.

Southerners tended to buy newer homes and placed a higher importance on air conditioning. Other highlights include:


    

  • 78% chose a home with a garage.
    • 

  • 57% purchased a home with a fireplace.
    • 

  • Having a laundry room rated highly.
    • 



Though 97% of home buyers were satisfied with their recent home purchase, the majority wished their home had more or larger closets and more storage.

Within 3 months of a home purchase, 53% of buyers undertook a home improvement project, spending an average of $4,550. The most common after-purchase projects were: a kitchen project, bathroom project, new or replaced lighting and new appliances.


If you are thinking of buying or selling a home in Roanoke, Virginia and surrounding areas we would love to help you.  We’ve sold 24 homes so far this year and feel we have the experience and expertise you deserve whether buying or selling a home.  We have over 60 homes listed for sale right now personally, please visit our website at www.thecrouchteam.com to see them.  If you would like a free no obligation market analysis of your home if you’re thinking of selling or access to all homes on the market if you’re thinking of buying a home please give us a call at 540-725-7727 or email us at christycrouch@aol.com.


 






					


		
	


				
					


	

		
Don’t Make These Mistakes If Selling Your Home


				

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Here is an article a Realtor friend from out of our area just shared with me and I thought it was worthy of posting for those of you who are either trying to sell or thinking of selling your home.  Please let me know if our team can help with your housing needs in Roanoke, Virginia and surrounding areas.  We’ve sold 24 houses so far this year and are confident we have the experience and expertise you’re looking for.  Our number is 540-725-7727 or you can email us at christycrouch@aol.com or visit our website at www.thecrouchteam.com


Top Five Mistakes Sellers Make


 It can be a tough market for selling a home, but those conditions can get even worse if sellers aren’t careful. While a seller doesn’t control the real estate market, his actions can significantly contribute to how long and how much their home is sold for.


Underestimating Cleaning Up: It may seem obvious, but real estate agents everywhere are nodding their heads in agreement as they read this. Inviting potential buyers in to see an unkempt home is like going on a job interview without freshening up after you cleaned your garage. How can the employer notice your fantastic talents and skills if they’re hidden underneath a sloppy exterior? How you show your home tells the buyer what type of care you, the seller, has put into the home?


If you can’t take the time to wipe the grime off the refrigerator doors, tidy up the kids’ rooms, take out the messy diapers, put away the food, and take the dogs out of the house for a while, then you’ll likely find buyers will quickly move on to the next home on their list.


Lingering During Showings: Yes, we all want to know how the open house or showing went, but hanging around during either of those events is not a good idea. Sellers who tend to linger during showings often make the buyers uncomfortable. Buyers like to have time to explore the home at their own pace and without feeling any pressure. Sometimes buyers want to sit on the porch or out in the backyard as they discuss the home’s possibilities. And if buyers are willing to sit for a bit and talk about the home, that’s a great sign. However, the chances of their doing that with the seller present is unlikely. Many times buyers will say, “Let’s skip the home if the sellers are there.”


If you’re selling your home, do yourself a favor and hit the road. Take a walk or head to the coffee shop. As soon as the showing is over, you can get all the details from your agent. That’s why you’re paying your agent! Let him do his job. Just make sure that your agent has all the home’s selling points and any additional features that make this home standout.


For Sale By Owner (FSBO) Trap: Some people are convinced that they can do it on their own. Maybe they can sell their own home, but it likely won’t happen without some headaches. Trained specialists are called “experts” for a reason. An expert real estate agent knows the market, has connections, guides you through the process, negotiates on your behalf, and will make the process of selling your home simpler.


One potential land mine that FSBOs face is the flood of people popping in to see their home. It sounds great that there’s so much traffic, but the problem is that many times the people who pop into FSBO properties aren’t actually qualified for a mortgage or may not be serious buyers. Instead they’re just looking and satisfying their curiosity at your expense. Agents know to ask the right questions to make certain the lookers are truly potential home buyers.


Not interviewing agents: If you have kids, chances are you interviewed the nanny or babysitter. Take the time to seek out top real estate agents in your area. Setting up interviews with them is equally important. Choosing the wrong agent for the job will be a headache and slow the process down. There must be a connection, an understanding, and good communication between the seller and the agent. There are many things that go on during the sale of a home. Communicating with the agent should be one of the easier tasks.


Pricing a home incorrectly: This could be the worst mistake sellers make. Yet, this is where so much help can be found. Real estate agents see homes every single day. They know the neighborhoods and the comps. They are there to help you understand what homes have sold for in the recent past and what they’ll likely sell for during the current market conditions. Get a market evaluation from your agent and understand what is a fair price for your home in today’s market.


Written by Phoebe Chongchua

					


		
	


				
					


	

		
REALTOR.COM


				

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I wanted to share the information below from The Roanoke Valley Association Of Realtors regarding the Realtor.com website.  This is where our team website, www.thecrouchteam.com is generated from and we heavily use it for marketing and advertising our listings.  We are very excited about the increased exposure this will bring.  We are also thrilled to see that the other two sites we use, Zillow.com, and Trulia.com are the top 2 sites for buyers searching for homes.




If you are thinking of buying or selling a home in the Roanoke, Virginia area we would love to interview with you and apply for the job of helping you.  We have sold 23 homes so far this year and are negotiating another contract as I type this.  Our team is committed to providing excellent service with proven results to all our customers and clients.  If we can support you please give us a call at 540-725-7727 or email us at christycrouch@aol.com.




Here is the article:




Realtor.com Rebranding and New Marketing Campaign




REALTOR.com has rebranded its site with a new logo, slogan and website design which downplays ties to NAR. Move, Inc. operates Realtor.com under the terms of a 1996 agreement with NAR.


For years, the REALTOR.com logo featured NAR’s “block R” Realtor and a prominent declaration next to the logo informed users that the listing portal was the “Official Site of the National Association of REALTORS.” The new Realtor.com logo makes no reference to NAR and features a new slogan “Where home happens”. NAR is referenced in the fine print at the bottom of the page.

Realtor.com is also launching an aggressive marketing campaign that portrays the timeliness, accuracy and completeness of listings on the portal as giving its users a competitive advantage over buyers searching for homes on less reliable third-party websites. The “Find It First” marketing campaign makes the case that with inventories tight in many markets, accurate and timely listings data could make the difference between finding a buyer’s dream home or losing out to another buyer.

NAR was involved in and is supportive of Realtor.com’s rebranding efforts.


Thanks to the site’s ties to NAR, Realtor.com receives listings directly from more than 800 multiple listing services that, in most cases, is updated every 15 minutes. Rival listing portals Zillow and Trulia overtook Realtor.com last year to become the most visited listing portals. Realtor.com is currently ranked third in mobile and desktop real estate Web traffic.