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If you are planning to sell your home, you'll want your agent to provide you with a comparative market analysis, which is often called a CMA. If you're selling your home, it's definitely a great idea to understand what a CMA is , what it should include, and why it's so important. Basically a comparative market analysis is a special report of comparable home sales. It can be anywhere from two to 50 pages, depending on the complexity of the specific report. Standard CMAs should include the following important data on them for you to peruse. Active, Pending, and Sold Listings First of all, you'll find that a comparable market analysis should include active, pending, and sold listings. Here's the breakdown of those listings: Active listings are the listings of homes for sale at the current time. This matters because they are your competition, but it doesn't mean that they indicate the market value and the prices may not all be realistic either. They won't reflect the market value until they actually do sell. The pending listings are listings that used to be active, but they are currently under contract. Since they haven't closed, you can use them for comparable sales. Sold listings include homes that have been closed on in the previous six months. These can be used as comparable sales, and it's important that you take a close look at these listings. Properties Canceled, Withdrawn, or Off the Market Another thing you'll find listed in a good comparable market analysis is a look at properties that have been canceled, withdrawn, or taken off the market. They can be taken off for various reasons. They may be taken off the market because of seller's remorse, because of repair requests made, because the seller decided to fire the agent, or they were over priced. There are also expired listings that may be on the CMA. The sale prices are usually high, which shows that they were probably priced unreasonably. Sometimes listings can expire because they needed repairs or they were not marketed aggressively. An Examination of Comparable Sales The comparable sales are the sales that are close to your own home that you are trying to sell. Homes on the list should be very close to the condition, size, and shape of your current home. Here are important things that should be considered when it comes to the comparable sales: Construction Age - Comparable sales should have a similar construction age as your home. They should be within just a few years of your home. Square Footage - The square footage is another thing that homes will be compared on. Homes that have a larger amount of square footage are worth less for each square foot than the smaller homes. Comparables should be within in 200-400 square feet of the home you're trying to sell. Home Location - The location is going to have a lot to do with the value of your home. This means that your comparables have to be in a similar location. The Condition of the Home - The condition of your home is important too. If it's remodeled, it's worth more. If you have several baths, your home will be worth more. If it needs maintenance, it will be worth less. These are just a few of the things that should be on a comparable market analysis. The whole goal of the CMA is to give you an idea of comparable sales so you know what type of price your home can command and it can give you a better idea at how successful you'll be at selling your home as well.

Homes for Sale-Vacant or Abandoned? It is happening across the nation. There are many, many homes that have been left vacant. Some are vacant due to an upcoming foreclosure. What about the rest of them? What's their story? The story varies, but ultimately, it turns out, through all the best efforts of Realtor and Seller, a home just didn't sell in its projected time period. The timing was off, the market was flat, the price was wrong, the condition wasn't up to snuff, or the location is just not desirable. Whatever the reason, as the home owner, you ended up with these three choices: 1. Take the house off the market and postpone the move. Re-list at a later date, when the housing market is on the move again. 2. You live in the new place, your partner stays behind until it sells...and endure the additional stress that come with the separation of family. 3. You pack it in, move everything, (family, furnishings, cars and pets) you're out. Then you hold two mortgages while waiting for a buyer to come along. As the homeowner, the option that worked best for you, was Choice #3. Time has moved on and your new home is just swell. Things are a bit tight-no extra money- as it goes dutifully over to your vacant homes mortgage. You start resenting the old house. The new home is new, and it is receiving the love it deserves. The furniture is placed, paintings are hung, kids are adjusting to the new school, and the neighbors are friendly. All seems to be going very well. But, wait! SELLER BEWARE: Vacant homes become jaded. They figure out ways to get your attention. Pipes mysteriously burst into the night, floor boards buckle, a strange smell comes through the home...and then the weather sets in to aid the house on its singular mission...to get you to pay attention to it! A slow leak in the roof, loose shingle...the leaves are piling high, the spiders have found a new home, and even the neighborhood squirrels are nesting. It's just nuts! Signs of an ABANDONED HOUSE: * cold * dark, dank, smelly * a little grimy * beeping CO detector (batteries dead) * yard in dishevel * the look of neglect Signs of a VACANT HOME: * a comfortable room temperature * clean and shiney (windex, windex, windex) * a pleasant smell in the air (air fresheners-nothing overwhelming) * blinds, slightly tilted (letting a little sun shine in) * a few pieces of furniture * night lights placed strategically throughout the home * yard remains groomed ( a service, a neighborhood kid) The feel of a home once loved. In marketing your home, and in sales, how does the condition of these two homes come across in the eyes of the buyer? They loved the vacant home, it showed well, it felt good to them. The other house: it looked abandoned, it made them sad. Frankly, if you don't care, why would a buyer?

It's fall and Charlotte homes for sale are still aplenty! The good news?!! The Charlotte real estate market has been on an upswing for the past five consecutive months. Cross your fingers, hope and pray, and follow some of these seasonal selling tips to get a bit of an edge on your immediate competition and get your house sold. Each season brings in the need for a new home photo...not the interior, the exterior! If your home has been sitting on the market since Spring, it is probably time to snap a quick photo of your home on a pretty fall day, and email it off to your listing agent. You may prefer your agent drive out and get the photo themselves, and you may insist that it is their job. Sure it is! But, a helping hand, and the ease of walking outside while the sun peeks out, is in your best interest. So, why not?!! Snap it, and send it off via email. Falling leaves, falling leaves...another point to ponder during the change of seasons,halloween is to keep the leaves off of your sidewalk-folks slip and fall when racing up a leafy sidewalk on a drizzly grey day. You're objective (as the home seller) is an offer to purchase, not a law-suit. The objective (as a Realtor) is to show the home, not call for an ambulance. Yikes! With Halloween around the corner, yes, it is fun to decorate. Some home owners are masters with spider-webs...both real and fake. It's an art form, you know. However, too much of a ghoul thing is too much. If the graveyard groans coupled with murderous screams and bats flying from your trees seem like a paid Halloween spook show, tone it down. Remember, we're trying to sell your house, not Halloween. You may scare the buyers off before they even get out of the Realtor's car... On a side note...candy (chocolate) in the foyer is nice! Show and Sell. This is a seasonal post, so seasonally (and seriously), it tends to be a bit darker in the fall and winter months, shed a little more light on your interior with uplights or end table lighting that you would not normally leave on during the Spring and Summer months. For early evening showings, please leave your front porch light on. It is very dark out early, and we do need to put the key in the keyhole! 'We'll leave the light on for you', is more than just a Motel 6 slogan. It's a welcome to my home- we were expecting you. A very nice welcome, indeed. What about Show and Smell? You can't sell it, if you can smell it. Well, true in a sense. But, it depends entirely on the smell, doesn't it? Pumpkin Spice and all that is nice brings the warm feeling of home right into your house. Any scents that bring this season in have the potential of your home beating out your closest competitor...on the buyer's top pick list. (Of course, you want an offer, but to get an offer, you have to be in the top picks category-remember, there are a lot of Charlotte homes for sale!) This can be a very opportune season to list your home. To be sure, fall and winter offer a bit less traffic in the way of home buyers. The reality is this: it is far less competitive for the seller as there are not as many homes on the market for a buyer to choose from (as in the spring). The last quarter of the year is also when a lot of businesses will be hiring and relocating their mid-level management executives as well as their top tier executives. On that note, those that buy in the fall, are usually pressed to buy. Gotta move-gotta go. Home and Hearth-A Holiday Glow. Most home buyers choose the home they buy, because they felt at home when they first entered it. Homes tend to show beautifully, as they are groomed for the holidays. Enjoy what makes your house a home during this season. It may be just that element that brings the buyer to your door. Remember, home is where the heart is, particularly during the holidays.

The Elizabeth neighborhood is a very fine, leafy old section of Charlotte, just bridled with charm (and ghosts). It is, by far, the most haunted neighborhood in Charlotte; even the main green space -- Independence Park -- is deemed to be haunted. It also has the distinction of being Charlotte's first public park (1904). 'Halloween Week', they have a lighting of the pumpkins...all are welcome to set their pumpkins up on the stands and marvel at one another's creations. Why not? Elizabeth can be spooky! Elizabeth was developed in the early 20th century. Her mature trees create a gorgeous canopy over the streets; large camellia bushes show off beautiful blooms; homes and businesses mingle, woven tightly together by rooty sidewalks and its haunted tales of those that have gone before us. The Elizabeth neighborhood is tucked in amongst the following: Randolph Road/4th Street to the Southwest; Independence Boulevard to the West and North; and a creek on its East. Two main avenues within this area are Elizabeth Avenue and 7th Street. Along 7th Street there are numerous old houses that have been converted into shops, offices, and restaurants and small apartment buildings. Classics like Hawthorne's NY Pizza and Bar, Loft 1523 (a cool Martini Bar), Philospher's Stone Tavern and Carpe Diem are all lined up just waiting to take your order! Then there's The Cajun Queen, she's supposedly haunted-either by the old owner's maid or a lush (depending on who you talk to). It serves up an authentic taste of New Orleans food and Dixieland jazz and beer. The Elizabeth neighborhood offers a rich selection of beautiful Victorian homes, bungalows and historical houses. Here, single family residential prices can reach over a million dollars, whereas a condo can be purchased for around $175,000 or so. To be sure, this is an easy walking section of town. Close to the hustle and bustle of uptown Charlotte for nightlife, yet filled with it's own neighborhood pubs, for those evenings when you'd rather hang out 'where everybody knows your name'. Centrally located, Elizabeth's Independence Park is hidden a little below street level. It offers great walking paths, beautiful gardens, benches and statues. The true neighborhood side of the park can be found on it's southern end. It offers peace, tranquility...and a beautiful rose garden. And, then, there's the northern end...the northern end offers plenty of activity! There are ball fields, courts, play ground equipment, and a track..it is also on this end, that Elizabeth Traditional Elementary School is located. The northern end of Independence Park is a fantastic spot to see a spectacular view of the city...especially good for watching Uptown's firework displays on the Fourth of July! Back in 1897, Elizabeth College, a small Lutheran women's college , was here. It is how the area came to be known as Elizabeth. The college has since been replaced by Charlotte's main Presbyterian Hospital. Elizabeth's speedy development occurred just five years later, in 1902, when the trolley line was completed...and then she was promptly annexed into Charlotte in 1907. The neighborhoods population hovers around 4,000 today........ghosts not included.

For all the Property Repairman and Maintenance out there no matter how new your property is or how careful your tenants are, you will have to do occasional repairs and maintenance. The problems might be minor, such as a backed-up drain, or major, such as a leaking roof. Maintenance on a rental property can be a confusing issue. Renters may mistakenly assume all maintenance is the responsibility of the leasing agent and maintenance staff but this is usually not true. In many cases the leasing agent and maintenance staff are responsible for maintaining the common areas and performing major repairs on the apartments but the renters do typically have some responsibilities. These responsibilities are often defined in the rental agreement and the renter should familiarize himself with this document to verify his rights if a dispute arises. For your own protection, make sure that any repair or maintenance requests from the tenant are put in writing. This creates a record of the request, the nature of the problem, the date it occurred, the action taken, and confirmation of the tenant's satisfaction with the service. Make sure you follow up with the tenants to confirm whether the contractor you hired to do the work showed up on time and was courteous, and whether the repair was completed to their satisfaction. This information will come in handy when deciding who to call for future maintenance repairs. Keep good repair and maintenance records on everything that is handled. Review the yellow pages for repairmen who accept credit cards. Credit cards provide an additional layer of security for you. If you are not happy with the fix and the repairman refuses to resolve your concerns, you can notify your credit card representative and submit a charge back to the merchant. This will require additional paperwork on your part, but can afford you a superior position when negotiating a dispute. Be aware, however, that using this plan too often can leave you in bad standing with your credit card company. Review their policies on charge backs first. The best time to fix a problem is before it even starts. Here are some tips for making maintenance easier and reduce problems: (1) Expect the walls to get dirty and scraped. Use the same color of paint for the interiors for all the properties making it easy to touch up a wall. This way there's never a problem of trying to match the right colors. (2) Use quality faucets that can be easily repaired. Leaky faucets can become an irritation to tenants. The faucets don't have to be fancy or expensive, just good quality. This will reduce the chance of leaky faucets and lower your repair bills in the long run. (3) Develop reliable point of contacts for repairs and maintenance. Maintenance companies can handle a broad range of services such as plumbing, electrical, and drywall repair. When a problem occurs, you want it fixed right away. (4) Use the same brand of locks on your doors. When one tenant moves out, you can switch locks from one property to another. The locks themselves last a long time, so you can keep them in rotation. But don't use the same locks at the same property after a tenant moves out because this is a liability issue. (5) Label your keys with a code for each building and apartment. Just don't write the full name and address of the property in case someone you don't know finds the keys. You need to protect yourself and tenants against someone coming back to the property and gaining entry.

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