THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, October 12, 1996 TAG: 9610100247
SECTION: REAL ESTATE WEEKLY PAGE: 04 EDITION: FINAL
TYPE: Cover Story
SOURCE: BY LOUKIA LOUKA, SPECIAL TO REAL ESTATE WEEKLY
LENGTH: 106 lines
You've probably noticed this before: A ``for sale'' sign goes up and before you know it, a moving truck is pulling in and there are new neighbors to meet.
You've probably seen this before, too: A house will have a ``for sale'' sign in its yard for months but the only thing moving on the property is a lawnmower.
These homes could be next door to each other or miles apart. Either way, there are various reasons why some homes are sold quickly and others aren't.
Real Estate Weekly asked a few real estate specialists what people are looking for and what you can do to make your house desirable.
What are some things prospective homeowners look for in a house that is on the market?
``Years ago, they used to say, `Location, location, location.' Now I think price is the primary thing,'' said Joann Belote, president-elect of the Tidewater Association of Realtors and director of relocation services for Coldwell Banker/Gifford Realty.
A good way to make sure you've properly priced your home for sale is to make a comparison of your asking price against homes in your neighborhood that recently were sold or are on the market.
Also scoring points are good schools, convenience to shopping areas, and the appearance of the neighborhood, said Thomas Tye, a real estate appraiser. Ultimately, it's a personal choice.
``It depends on the individual. If they are buying a million dollar mansion and they don't have children, affordability is not an issue, nor is the school system,'' Tye said.
Carol McDonald, a Realtor for The Prudential Decker Realty, said areas that are popular for all of these reasons include Portsmouth's Churchland and Chesapeake's Great Bridge area.
In Virginia Beach, anything on the water sells well - especially the North End and along Shore Drive - as do homes in the Great Neck and Little Neck corridors. And in Norfolk, homes in Ghent and Larchmont don't stay on the market for long.
After the price, location and other factors are weighed, be sure your asking price considers any defects or unappealing features in the house or the property.
For example, if you are half-finished with major kitchen renovations or there is a plumbing problem, and you aren't going to fix things up, your offers may be lower than you anticipated.
What can the homeowner do to help the real estate agent make a sale?
Agents have an impressive networking system - from multiple listing services and brochures to the internet and local advertising. You can use good, old-fashioned word of mouth.
Tell your friends, family, neighbors, and co-workers. And do your housework - the house should be tidy and sparkling when an agent shows up with prospective buyers.
McDonald said buyers buy what they see, not what they would want it to be. They really want a turnkey house - one where you move in and just have to worry about unpacking. And don't forget landscaping.
``It's doing everything you can to make it the best looking property on the block. It has to have something extra,'' Belote said. Especially if there are several homes in the neighborhood on the market.
How long before you want to move should you list your house for sale?
It depends on whether you have to sell before you buy, Tye said. He suggests asking your agent how long market times have been for your neighborhood, and then add 30 to 45 days for closing.
According to Metro MLS, a regional multiple listing service, the average market time of homes sold from January through June of this year was 64 days.
Believe it or not, the time of year also plays a role, Tye said. Typically, it takes longer to sell a house in the winter than it does in the spring or summer. Interest rates also factor in.
What interior features are people looking for in homes today?
Remember how you swore you would never get tired of looking at the orange kitchen counter, the celery tile in the master bathroom and the brown shag rug in the family room?
You might still be in love with that bit of '70s decor, but you probably won't have legions of supporters. Different buyers want different things but a basic trend is an open floor plan with lots of windows and light.
In all price ranges, a fireplace and garage is a plus, as is a deck and landscaping that offers some privacy in the backyard. ``People want a little bit of a sense that they have, especially in the backyard, a private retreat,'' McDonald said.
With upscale homes, being near or on the waterfront, or having a great view of a golf course is expected, as are larger bathrooms and kitchens. Also, premium floor coverings such as hardwood floors, ceramic tile or marble are sought after.
Ceilings also are higher in homes across several price ranges. Tye said a good way to keep in touch with current styles is to attend Homearama showings or see how model homes are decorated.
How can you get into a neighborhood you really want when you always seem to have gotten there five minutes too late for the only house on sale?
It's frustrating. You wait for months for a house to go on the market on your dream street and before you know it, it's sold. The smartest thing to do, McDonald said, is to select an agent to represent you as a buyer's agent.
The agent can interview you, find out what you want, where you want it, and then zero in on your needs. Agents get a great jump on things with the help of a computer list - the industry's so-called ``hot sheet'' of brand new listings as well as current information on price reductions, withdrawals or other changes. ILLUSTRATION: [Cover, Color illustration]
ROBERT VOROS
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