The Simple Truths of Real Estate: Part 1

There are certain things in life that are always true. It always rains the day that you forget your umbrella. The sun rises in the east and sets in the west. Every day. The New England Patriots win the AFC East every year. Sorry New York Jets fans.

Just like in life, there are some things in real estate that are always true; no matter the geography or the market condition. Beginning this week, we will look at a few simple truths of real estate.

It doesn’t matter what the neighbors’ home sold for in the past

Home values are dynamic. They rise and fall with market conditions, just like a company stock on an exchange. What a house was worth five years ago, last month or even last week has no bearing on the value of a house today. This can be a difficult pill to swallow.

If you didn’t sell your home two years ago or even last year when the market was at it’s highest, there is nothing that you can do about it now. Thinking, “I shoulda sold last year” or “I coulda gotten more money for my house” is a waste of energy. As I always say to my kids, “with a woulda, a coulda and a shoulda and a dollar, you still can’t buy a cup of coffee at Starbucks!

Or more simply put, “you can’t go back in time, so stop worrying about it.”

Home Prices are Dynamic

How to Maximize the Value of Your Home

Even if you didn’t sell when the market was at it’s highest, there are some things that you can do today to maximize the value of your home. Here are some simple steps:

  1. Catch up on any deferred maintenance around the house. Guys, its time to pull out that “honey do” list and get caught up on some of those projects you’ve been delaying around the house.
  2. Make sure the major systems; HVAC, electrical, plumbing, etc. are in good working order.
  3. Curb appeal counts. Keep things clean and tidy.  Plant some flowers in the front years. Cut back the hedges. Rake up the yard. Remember, you don’t have a second chance to make a first impression.
  4. If your house is living in the ’90s, it may be time for an update. Focus on your kitchens & baths: These are the areas of your home that will generate the most return. You can always change a kitchen, but you can’t pick up a property and move it.
  5. Work with an agent that understands your neighborhood to determine the best way to market your home.

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Author: Steve

Steve Poirier is a REALTOR and co-founder of Log Pond Realty in Apex, North Carolina. Our team services the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

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