Home is Where the Heart Is

[Superbob]

This is maybe a little off the beaten path, but then everything is heart-related with us, right?

Last spring, a great deal became available here next door to son, DIL, and grandkids, and 7 minutes from beach. We made the arrangements and jumped at it. The hard part is that we have our home back in Blue Ridge to sell. It is a pretty house on a wooded acre lot, very quiet, walking distance of Blue Ridge Parkway.

It has been on the market for 6 months now (as we all know the market and the economy are still in the dumpster), and I am working harder than an old retired guy wants in order to keep up with two house payments. We love it here on the coast -- everything is flat and accessible (no more falls!) and our doctors are terrific and right around the corner (they were 20 miles away when we were in the mountains). And what a joy to watch 5-year-old Hannah play soccer like a future Mia Hamm! But selling the former house so that we can feel really permanent is a concern.

If I were even close to being rich, I would keep both houses -- one at beach, one in mountains, what a dream! But I am not and I need to cut down on this debt load before the time comes that maybe I can't work so hard.

Just wondering if others have had recent experiences in the home market and can offer encouragement, moral support, or whatever. I know many others have had much more severe problems dealing with this economy in terms of layoffs etc. So I am not whining, just wondering....

 

[Duffey]

Have you considered trying to lease your home in Virginia? That might be a temporary solution.

 

[ShezaGirlie]

Exactly Mary, that's what I was going to suggest.

Superbob, I can't commiserate with you since our economy in this area is practically booming these days. A home nearby sold the next day and one across the street was on the market for two weeks and both sold at premium prices. Seems the "bad economy" is a regional thing.

However; since I was a real estate broker in the dark ages maybe I can come up with a couple of suggestions. When we had a house listed that didn't sell it was probably priced to high. Have you gotten an appraisal on your mountain home?

If it's furnished, would you feel comfortable turning it over to a leasing agency and having them lease it out as a vacation destination? Seems like that would be an option since you're so near the parkway in a gorgeous area.

In any case, I hope you find relief soon.

 

[Superbob]

Nope, it's unfurnished. Have thought about renting, but that has its own downside. Thanks for the good thoughts. Our realtor called today and said the place looks nice with the fall colors, though the market is still sluggish. So maybe someone will come by and fall in love with it one of these days. Thanks again for the good thoughts.

 

[Bina]

I've been in the same boat.
In late 1999 we decided to list for sale our home in a very nice area and the market was hopping so we immediately bought another place with occupancy for June 2000. Lots of time, right? Wrong. The first house just wasn't selling since many neighbour's had decided to list also. It finally sold in May 2000 and we had to add $25,000. onto our new mortgage because of the price difference. That hurt.
But things have a way of working out and when we decided to sell again in 2002, we sold that home in ONE DAY for almost our asking price.
HUbby says I need a new hobby, no more house buying....ha ha.
Bob, things will work out.
Make sure that your mountain home is well advertised and maintained in pristine condition.
Sometimes a few choice pieces of furniture help the buyer to "imagine" the comforts.
A pair of large comfy chairs facing a fireplace, a dining table with a vase of pretty silk flowers, Neutral paint colours,etc.
Good Luck.

 

[Cooker]

Just wishing you a long over due sale....

 

[Dennis S]

You are so right about rental--

You are so right about rental--

Nope, it's unfurnished. Have thought about renting, but that has its own downside. Thanks for the good thoughts. Our realtor called today and said the place looks nice with the fall colors, though the market is still sluggish. So maybe someone will come by and fall in love with it one of these days. Thanks again for the good thoughts.

Rental is a very big step. It changes insurance requirements, real estate tax rates, complicates your income tax and subjects a very valuable asset to all kinds of risks. I think it is very wise to be extremely cautious about getting into the "rental business".

 

[Superbob]

Rental is a very big step. It changes insurance requirements, real estate tax rates, complicates your income tax and subjects a very valuable asset to all kinds of risks. I think it is very wise to be extremely cautious about getting into the "rental business".

Thanks, Dennis. That's my assessment, too. I believe we will get the property sold in due course, though waiting is frustrating (almost as frustrating as waiting for surgery.

 

[kfay]

Bob, I'm sorry you haven't managed to sell your home. Is your realtor advertising it in areas outside of the immediate area? It might be worth advertising in some Florida markets to attract "half backs" (being a southener, I know you have to know the meaning of this). If you really want to get rid of it, you may need to decrease the price more than you previously had planned and take less profit. It will move in time, just not the amount of time you may want it too. Hang in there.

Kim

 

[Lily]

...Is your realtor advertising it in areas outside of the immediate area?...

That sounds like an excellent idea, Kim.

It reminds me, Bob, when recently we were in an adjoining state and saw a real estate ad in a magazine for a unique home near us. We hadn't realized that beautiful house was for sale and so drove by it several days later and saw no sign or indication, for the locals to notice, that the house is for sale. Because of the type of magazine, and the unique circumstance of the home, they were clearly advertising to a specific audience.

There are special real estate magazines which might be worth investigating, though I don't recall the exact titles, like Country Real Estate, something like that.

 

[Dennis S]

I think advertising outside the area is especially important for a mountain home. Our friends from all over love our house (and especially the views) on the rim of the canyon. The locals have seen those views since childhood, and it just doesn't have the same appeal to them.

If I was selling our house, I would go through my old pictures and put together the most attractive brochure I could manage. If you are hoping to lure in buyers from a distance, give them pictures that show the views through the windows, from off the deck, etc. I don't think it actually costs that much to have some professionally printed brochures. In addition, I would set up a web page to show off every attractive feature of the house and lot. I would try setting my camera on a tripod to take a long exposure picture of the inside of the house with a nice fire in the fireplace. This can produce a very soft, homey image of the interior of your house.

I know the agent is supposed to do this for you, but I have yet to be impressed with the results I have seen from real estate agents. People thinking about a big move to a nice place are dying to see as many pictures as they can. Real estate agents often think the sale revolves around square feet, closets and floor plans. I'm not so sure about that. If they fall in love with the house, they will figure out for themselves why it fits their requirements.

 

[Superbob]

Good ideas about advertising outside the area. I believe there are Internet links, but additional pix would be good, if we could swing it. (It is a long haul and now that I have new health issues I don't know if we will be getting there for a while.) As far as price, we have cut the asking price and are about to do it again. I think I won't go any lower after that, but am willing to listen to any reasonable offer.

 

[Duffey]

Good ideas about advertising outside the area. I believe there are Internet links, but additional pix would be good, if we could swing it. (It is a long haul and now that I have new health issues I don't know if we will be getting there for a while.) As far as price, we have cut the asking price and are about to do it again. I think I won't go any lower after that, but am willing to listen to any reasonable offer.

Our son's girlfriend is trying to sell a house in our hometown. She started a Facebook account, I think the name is Sell this SE Missouri Home!, and she actively promotes it using both accounts. If you had pictures, you might consider creating an account for your home.

 

[Superbob]

That's an intriguing idea. Facebook doesn't charge you an advertising fee to do that? Did she just set it up the same way you would a personal account?

 

[Duffey]

That's an intriguing idea. Facebook doesn't charge you an advertising fee to do that? Did she just set it up the same way you would a personal account?

The house is listed under the category, Business-Real Estate. There are many homes in the category, so I would add something distinctive to the title so it could be located in a search.

However, if you provide the link in your own personal account, and get some good friends to add it to theirs , you should get viewer hits.

No, I don't think there's a cost to have it on Facebook. I think they will offer you the opportunity to put an advertisement on your page, but I'm undertain of price or other details.

 

[ShezaGirlie]

Superbob ~~ If your realtor belongs to MLS (Multiple Listing Service) your home is already being advertised nationwide. If your realtor doesn't subscribe to MLS, find another realtor..

Also, check your listing contract to see if you gave your realtor an 'exclusive' listing agreement. If you did and you sell your house on your own, you may still owe a commission to them..

See: http://www.realtor.com/ and http://www.mls.com/

 

[Superbob]

Oh yes, it's definitely on MLS, and it is accessible nationwide through realtor.com. My Realtor is president of the area real estate association, and been in the biz for 30 years in beautiful Southwest Virginia. I do have an agreement with him; I trust him, he is trying, he is a good person.

In fact, here is the link to the house:

http://www.realtor.com/realestateandhomes-detail/211-Oak-Ridge-Ct_Blue-Ridge_VA_24064_1108284784

Maybe a good vr.com member would like to buy as a nice second home/vacation home in the Blue Ridge? Or would just love to retire there? (Sadiedawg and I loved our mountain hikes there.) Or maybe Hank would like to buy it as a venue for vr.com Reunions?

Because of your great suggestions, I have asked my Realtor to hustle over and take some new pix with the autumn colors on display, and he says he will.
The pix of some of the interior walls look a tad dark, but they are really a pretty blue. One idea would be to completely repaint everything in brighter colors but I have slashed the price so much I think I have provided a discount for new owners to paint whatever colors they wish.

House has a wood pellet stove, cathedral ceilings, a large deck, a huge fenced back yard in a cul-de-sac (GREAT for kids and dogs), and large deck that is just gorgeous when the snow falls or everything is in blossom in the spring. I loved it there but DW felt isolated and wanted to be near her dear son here in the Low Country and the deal on a home next to him seemed too good to pass up. Of course, I love the beach life too.

Okay, I'm rambling. Thanks to all. I will look into the Facebook account.

 

[Bina]

JMO, you need pics of the kitchen and fireplace.
Delete those pics of the bare rooms with dark walls, or it may be worth it to just paint those 2 rooms in a light neutral, cream or butter colour.
Lovely exterior.

 

[Duffey]

Oh yes, it's definitely on MLS, and it is accessible nationwide through realtor.com. My Realtor is president of the area real estate association, and been in the biz for 30 years in beautiful Southwest Virginia. I do have an agreement with him; I trust him, he is trying, he is a good person.

In fact, here is the link to the house:

http://www.realtor.com/realestateandhomes-detail/211-Oak-Ridge-Ct_Blue-Ridge_VA_24064_1108284784

Maybe a good vr.com member would like to buy as a nice second home/vacation home in the Blue Ridge? Or would just love to retire there? (Sadiedawg and I loved our mountain hikes there.) Or maybe Hank would like to buy it as a venue for vr.com Reunions?

Because of your great suggestions, I have asked my Realtor to hustle over and take some new pix with the autumn colors on display, and he says he will.
The pix of some of the interior walls look a tad dark, but they are really a pretty blue. One idea would be to completely repaint everything in brighter colors but I have slashed the price so much I think I have provided a discount for new owners to paint whatever colors they wish.

House has a wood pellet stove, cathedral ceilings, a large deck, a huge fenced back yard in a cul-de-sac (GREAT for kids and dogs), and large deck that is just gorgeous when the snow falls or everything is in blossom in the spring. I loved it there but DW felt isolated and wanted to be near her dear son here in the Low Country and the deal on a home next to him seemed too good to pass up. Of course, I love the beach life too.

Okay, I'm rambling. Thanks to all. I will look into the Facebook account.

Ok, I'm sold! Check's in the mail . . . .

 

[hensylee]

reading all this carefully. I am about to go home to sell my house and move to Atlanta as soon as I can. thanks everyone for the info.