Coldwell Banker Townside, REAlTORS® wants to congratulate The Eggleston Team for  being award the Number One Coldwell Banker Team in the state of Virginia.  We also want to take the time to recognize Margaret Galecki for her outstand job at recruiting in 2012.  Keep up the great job!

Whether you are selling your home or simply looking to refresh it from the winter doldrums, Better Homes and Gardens has a great list of ideas to add curb appeal to your home. You can update in a day, like giving your front door a “blast” of color, or choose a more involved project, like creating a new walkway to make your home more inviting. A quick trip to your local home improvement store can give your old digs a much needed facelift.

Finding the right paint colors for your house can be tricky enough, but what about paint sheens?  Should you use a high gloss finish or a flat finish?  There are several different kinds of paint sheens, but what you have to be aware of is that the shinier the sheen, the more imperfections that show.  If your wall texture has some “issues”, like pitting or old paint, you may want to stick with eggshell or flat. You also need to take cleaning ability into account; the shinier sheens are easier to clean and can be very useful for children’s playrooms, or for structures that are touched a lot like doors and cabinets.

Timeshares can be seen as the chance of a lifetime to have a guaranteed amazing vacation every year.  When buying any property though, you still have to consider if the property is a good fit for you and if you can afford it.  Is part-time ownership right for you and do you have the flexibility to enjoy it?  Keep in mind that a timeshare is not really an investment and it is not to save money, but it’s almost always fun!   The sales pitches for timeshares are frequently enticing, but make sure you do consider some of the restrictions such as management fees, and trading ease before you sign on.

2013 NRVHBA HOME EXPO

March 8, 9 and 10
Christiansburg Recreation Center

Friday, March 8: 4 p.m. - 8 p.m.
Saturday, March 9: 9 a.m. - 7 p.m.
Sunday, March 10: 12 p.m. - 5 p.m.

There will be over 100 vendors and free How-to-Clinics. Topics include Bath/Kitchen Remodeling, Interior Color Trends, Edible Landscaping, Home Brewing Beer and more.

There will also be free on site antique appraisals available Saturday and Sunday from 12-4 pm each day. Note: No firearms or weapons will be allowed.

Admission is $5 per person and children 18 and under are free. A $2 off coupon is available to print here! Download a map of the expo before hand so you know exactly which vendors you would like to meet over this exciting weekend!

The Blacksburg office was excited to kick off 2013 with our annual Awards Reception on February 4th.  The night was sprinkled with great food, fun stories and agent recognition. Congratulations to the following agents.

Silver Award Winners:  Bernadette Alfonso, Steve Ayers, Tim Hudson, Elaine McKaughan, Judy Walters

Gold Award Winners: Diane Boon, Arthur Cennamo, Susan Harrison, Brian Juanarena, Susanna Lilly, Nancy Phillips, Greg Vidma

Platinum Award Winners:   Debra Chase, Cliff Dowdy, Wayne Elliott

Diamond Award Winners:  Paul DiMaio, Sandy Grant, Dana Orr, John Skelton

Double Diamond Award Winners:  Tommy Clapp, Mike Eggleston, Rob Jones, Bill Linkenhoker

SPIRIT Award: Nancy Massey

Timex Award:  John Skelton

Setting the Standard:  Cliff Dowdy

President’s Council:  Tommy Clapp, Paul DiMaio, Mike Eggleston, Wayne Elliott, Sandy Grant, Dana Orr, John Skelton

Team of the Year:  The Eggleston Team Mike Eggleston & Tommy Clapp

Listing Agent of the Year:    Paul DiMaio


Sales Agent of the Year:  Wayne Elliott


Agent of the Year:  Dana Orr

We have had a buyer-advantaged market in the Valley for quite a while, but now the balance seems to be shifting back here, as it is nationally.  This might sound like bad news for buyers, but it’s really not.  While interest rates stay low, our main problem on the buying side is a lack of inventory.  As homeowners who have been waiting to sell start hearing that they’re going to be in a better position, we should be getting more homes into the market. So buyers may not be able to demand rock-bottom prices, but at least they’ll have more choices!  In most cases, it will be worth paying a little more to be able to get a new home that fulfills the wish-list.

The exterior is the first thing people see when looking at houses. If the house or yard is unkempt or not memorable, what is supposed to set it apart from other houses at first glance? Paint a new coat on the exterior and keep the lawns and bushes tidy. Mulch is always good for sprucing up and there are some great products available for quick repairs. Take a look at some of these suggestions from HGTV, but please don’t paint your lawns with green paint!

This Popular Mechanics article offers some more tips, though a berm may not work in everyone’s yard!

Real estate statistics can be overwhelming. Average sale price, median sale price, average list price, days on the market, sales price to list price ratio, absorption rates, sales volume, listing inventory are all terms used in trying to explain what is going on in a particular real estate market. REALTORS look at sales and listing data from the New River Valley Association of REALTORS®  (NRVAR) Multiple Listing Service (MLS) to help clients decide how to price their homes for sale. In addition, an agent can also advise their clients on what price to offer for purchase based on comparable area sales.
 
A quick overview of 2012 vs 2011, confirms that the real estate market, according the the NRVAR MLS, for the most part is getting a little better in the New River Valley. Information from the second half of the year is even slightly more promising and indications are that the Virginia market is improving.
 
Average sales price increased everywhere but Montgomery County over the last six months, with an increase over 16% in Radford. For all areas, the average sales price increase was 10%, and total residential sales for the entire MLS increased 12% over the sales from the same months last year.

(From NRVAR MLS. Information deemed reliable but not guaranteed.)

What does this mean for you if you are considering buying or selling right now? Lots of things, or nothing… maybe. If the average sales price of a home in Blacksburg is around $240,000 over the last 6 months, how long does it take before you can expect to sell? At what price should the home be listed to expect that sales price? Is the timing and suggested listing price the same in Christiansburg or Radford too? The information is available, and any Coldwell Banker Townside agent can find relevant sales information that applies to your particular home you wish to sell or to any you desire to purchase.

Fixing up an older house can be the first big step on a ladder to a really solid real estate investment by the time you reach middle age.  I have done it many times myself, and helped many clients choose a home in which they could invest some ‘sweat equity’ in order to build value that they could reap when they sold the property.

BUT home-buyers need to exercise a great deal of care in picking that fixer-upper.  And the advice of a good buyers’ agent is as valuable in this step as in any other part of a real estate purchase.  Not only do buyers need to think carefully about whether they will have the funds in future to do the repairs or upgrades (materials can be surprisingly costly), but they need to decide if having a major to-do list will fit in with or interfere with the lifestyle they want.  (Not everyone wants to come home from work Friday night and start on the two-day project for that weekend, so that the next weekend is free for another project.)

And there is another consideration that is rarely mentioned on those inspiring house-remodeling shows on TV. (You know the pitch:  “Buy this wreck for $400,000 and put another $300,000 into it and you will have just what you want.”)
What are the neighbors’ houses like?  How often do those shows use the word ‘comparables’?  The price you will get for your house when you sell is set (in 99.9% of transactions) by the appraiser.  Appraisers rarely make much of a distinction between a functional 30-year-old kitchen and a new one worthy of a magazine layout, or old pink ceramic tile in a bathroom and the zingiest new glass mosaic.  Major upgrades and new construction bring less than 70% return on investment in most markets (there are websites where you can check standard values – start here.  And it’s always tricky to sell the largest or fanciest house in most neighborhoods.   (When you become a seller, try hard to remember that when you were a buyer you were looking for a bargain!)

So yes, buy a fixer-upper if you want to do the work and live with the mess.  But choose one with good ‘bones,’ and one that you can live in comfortably with modest upgrades that will put you ‘above average’ in condition for your neighborhood and your price range. (Your REALTOR will advise you.)  By all means do the necessary repairs, because few buyers will take on a house that actually needs work (most people have few skills and even less patience for that way of spending their leisure time).  Make sure you get permits if necessary in your municipality, and have plumbing and electrical work done by a licensed professional (because your buyer, in a few years, will ask about the permits and the licensing of the folks who did the work). But be careful not to overspend – it’s rare for anyone to be able to make that first-time purchase into the ultimate dream home.  Get started on the steps up the ladder and you’ll get there!