Should you Remodel Your Home or Move to…….??

Posted on December 15, 2008 by Terry & Bonnie

The Question of the Day: Do we Remodel or Move??

Dreaming of a back yard deck addition? Should you spend the money to

add it on or should you sell and look for a home with a deck already added?

Maybe you could get that extra bath since your teenager is in the bathroom

most of time.

The Wall Street Journal advises in this article: Questions you should

ask yourself before you hire a contractor or call a realtor.

So many things enter into the decision.

Sometimes it just gets down to:

Do you like the home you are in well enough to invest money into it?

Even knowing you may never get the investment back. You will enjoy the

improvements (a new deck) and you really don’t want to move. Your kids

like the school system, you are close to your elderly parents, so many

reasons to consider before you decide to remodel or move.

In this economy many contractors are more than anxious to talk to you

about improvements and the cost to complete your dream project may

never be lower. With the combination of lower interest rates, contractors

that are willing to complete projects for bargain prices, and the current

market in your area, it may be your best option to stay and invest in your

current home.

If you are contemplating a remodel, I would be happy to give you my

opinion on the return of investment for your home. This is just another

option to consider in your decision. Please contact me directly.

Grand Rapids -Ada Real Estate – Five Star Real Estate

Yes, Mr 2008 Seller, I would like your house SOLD!

Posted on August 6, 2008 by Terry & Bonnie

Mr/Ms 2008 Seller, I would like to have a

heart-to-heart talk about selling your home.

I know you think real estate sales people are just out for a quick buck.

We want to put a bargain price on your home so it sells quickly which means

we get our commission check. Cha-ching!

This might be the scenario in some cases. Heck, there are bad apples in any

profession. I have been selling and listing homes for over 35 years and I have

seen a lot of sold homes and a lot of real estate professionals working in this

field. Most of them are nice people who make their living by listing homes

and trying to find homes for people to buy. We offer a service. It might not be

for everyone – not much is. We have a unique perspective. We work with lots

of people to sell their home and buyers buying homes.

We know your home is special to you – you live there!

Home Sweet Home

We are here to give you the market conditions for TODAY, whether either

of us likes it or not. We don’t decide the market conditions – wish we could.

We would be happy to have houses selling for close to what they are worth

and in 30-60 days. We would take that market any day.

BUT THAT ISN’T THE CASE TODAY!!

Seriously, I WOULD LIKE YOUR HOUSE TO SELL BUT I NEED YOUR HELP!

You need to listen to what I am telling you about the market in your area

and what homes are selling for. The home buyers today are able to get

more information than ever before. They know what the house down the

block sold for, they know that a foreclosure home sold in your area for

much less than the true value, and if you are desperate to sell, they can

take advantage of you. The average buyer would like nothing better than

for you to be in a desperate financial situation so they can get your home

at a bargain price.

The bottom line is: If you price your home correctly

AND have it in very good condition, it will sell.

Photo of Victorian Home Front Door Entrance by Bonnie Westbrook

Wearing the Black Hat or the White Hat in Real Estate today?

Posted on May 6, 2008 by Terry & Bonnie

You know the saying about good guys finishing last, well, I’m not so sure.

This recent scenario is pretty typical of a dilemma the real estate

agent faces every day.

I recently went on a listing appointment. It was a referral from a very happy

past client, the home was about 6 years old, professionally decorated and

had many extras. A very nice house to have listed.

EXCEPT…the seller didn’t want to move right away, they wanted to

list this spring and move in November.

I did my CMA and told them their price would be around $300K as the BEST

possible outcome. The house next door just sold for $270K and

they included a $10K item of furniture to seal the deal!

I was firm about my price, but I conceded we could start at 310K or 315K,

if they wanted to test the market for a few months.

They interviewed two other agents who had also been recommended.

They went with the agent who told them it would sell for $330K. That is what it

is listed for on our MLS now.

Real estate agents have to make a decision at the presentation.

Do we want to buy the listing at the higher price and deal with a disappointed

seller for 6-15 months?

The other option is to be firm and if the business comes your way it will be

salable and you will get paid for your efforts.

I recently listed a home for the correct price and it sold in three

weeks for full price.

If I had been the Good Guy wearing the White Hat and agreed to

their $330K price, I know I could have gotten the listing. Then during

the 5-6 months when they weregetting really serious about selling, we

could have lowered the price and it would eventually sell, maybe by

spring 2009.

What is the right thing to do?

Telling the seller the truth cost me a listing?? Yes.

My Deduction:

Listening to the client —+— Motivation —+ — Price

All of these go hand in hand to come to an understanding

with the seller. I wasn’t patient enough to offer the option of setting

a higher price and waiting with them to realize their price was unrealistic.

This has been the case with so many listings over the last year and a half.

So I suppose I’m wearing the Black Hat in this Situation.

Or will I be wearing the Black Hat when I list at their price and

it still hasn’t sold in 11 to 12 months? You betcha.

I will be the one who has failed to sell the house even though

the sellers set the price.

Contact me: 1-888-240-1968 x 0 toll free

Grand Rapids Real Estate ~ Westbrook Realty

Email: terry@TerryWestbrook.com

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: REAL ESTATE OPINIONS