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Pros & Cons of Holding an Open House

Pros & Cons of Holding an Open House

Pros:

  • Semi-serious buyers may be more inclined to stop by an Open House because they won’t have the commitment of having to go through a realtor. New and/or tentative buyers may be less intimidated by attending Open Houses. They could like your house enough to become buyers.
  • Potential buyers don’t have to set up appointments, enabling them to drive around and pick and choose only the houses and neighborhoods they like in situ (that is, seen all together, in place).
  • In neighborhoods where HOAs (Homeowners Associations) forbid For Sale signs, an Open House may be the only way drive-by shoppers are even aware any homes are on the market in a neighborhood. 
  • In HOA neighborhoods, your neighbors will see your Open House signs and advise people they know of homes available, letting them help choose their new neighbors.
  • An Open House may indicate a level of buyer interest in your house by the number of people who traipse through.
  • An Open House may indicate the amount of buyers actively shopping for homes.
  • An Open House is pretty inexpensive for the Realtor: the cost of an ad they should have placed anyway, a plate of cookies, re-usable signs (we had to have HOA specific signs at $50 each) and maybe a protective rug by the front door. Even if they don’t get prospects for your house, they will potentially pick up new customers out of the foot traffic or they’ll spend the afternoon on their Blackberry or watching TV. This is why they’re willing to give up a Sunday afternoon.
  • You might actually sell your home through an Open House! My neighbor did this in a close-knit community and sold their home on the first day. Caveat: the market was way different then!

Cons:

  •  An Open House means opening your home to neighbors and strangers without conditions. This means nosy neighbors, potential buyers, curious cruisers, other realtors, thieves, bored people, etc.
  • Holding an Open House is a lot of work: the house must be absolutely clean, the yard, walkway, garage, garden, everything in tip top shape. Anything that doesn’t add to the appeal of your home should be donated, discarded, stored or temporarily lodged at a neighbor’s home.
  • Your things could be stolen! You need to take all the precautions normal of having your house available for potential buyers to walk through, and MORE. Depending how the afternoon goes, people may be walking unescorted through your home, or one person may distract you while the other walks through the home. Remove or lock up jewelry, personal papers, portable valuables, prescription medications, private stuff, etc. Some of it could be locked in your car or stored at a friend or relative’s home, or put in a safe deposit box.
  • People will invade your personal space. I’ve had them sit down on my couch, help themselves to books off the shelf and relax! Their kids have also written all over my chalkboard. (The kids didn’t bother me—strangers treating my den like a public library did!) If you have personal stuff, whether x-rated, medical or just private, lock it up! People WILL go through the closets, medicine cabinets and cupboards, even if they’re just sizing them up to determine if their stuff will fit.
  • You may experience damage to your home, although it’s likely to be limited to muddy footprints. Things could get knocked over or broken.
  • An Open House is an opportunity for someone to “case the joint” as they used to say. There may be a sign in sheet where the Realtor collects names, but is that worth anything? You really don’t know who could be walking through and why.
  • You, your family and pets have to leave for a whole afternoon. If you work at home, like me, that is annoying, especially when you have to put away all your paperwork and clear your desk!
  • It is likely to be a big waste of time and energy, especially in a down market where hardly anyone is house-shopping.

 

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How-To Tuesday: Make Your Home More Energy-Efficient

Do you dread receiving your utility bill in the mail each month? Are you constantly struggling with family members over practicing green habits? With summer and hot, humid weather fast approaching, now is a good time to check your home for energy wasters. Here's a checklist of things you can do to make your home more energy-efficient in the coming summer months.

Cool your home efficiently. This is the number one expense you will see in warmer months, and if your cooling system is not up to par, you'll definitely see an increase in your utility bill. According to the EPA, "20% of the air that moves through the duct system is lost due to leaks and poorly sealed connections. The result is higher utility bills and difficulty keeping the house comfy, no matter how the thermostat is set." To ensure that your cooling system is working efficiently and to keep from overworking it: 

  • Clean your filter regularly.
  • Schedule annual maintenance to make sure your system is clean and won't have to work overtime to cool your home.
  • Consider replacing old systems with new energy-efficient models labeled ENERGY STAR. 
  • Use fresh air flow whenever you can. Ceiling fans and window fans are a good choice, but be aware of pollen and humidity levels before you decide to use them.
  • Heat and cool only the portions of the home you use regularly by closing vents in seldom-used rooms.

Use natural lighting/daylighting.

Another way to keep energy usage down is to reduce the amount of lighting you use. Turn lights off during the day, open the blinds and windows, and use the natural light that streams in through windows and skylights. Bonus: Natural lighting also makes a home more inviting. Painting walls a lighter color will help with light reflection as opposed to darker colors, which absorb light.

Check your hot water system.

Hot water heating is one of the largest energy expenses in your home after heating and cooling. Have your hot water heater checked for efficiency. To reduce the amount of energy here, think about going with a tankless water heater, a heat pump, or solar energy.

Seal and insulate.

Make sure the shell of your home is free of hidden gaps and cracks, which force heating and air systems to work harder. Check out this DIY Guide to Sealing and Insulating from ENERGY STAR for tips and information.

Look for ENERGY STAR products.

The EPA recommends products from ENERGY STAR to help with energy efficiency in your home. Available products include lightbulbs, light fixtures, appliances, home electronics, office equipment, and water heaters.

Using these tips will not only give you a lower utility bill, but they will also reduce impact on the environment from energy use. What other tips do you have for an energy-efficient home?

 

 

Friday Five // April 25, 2014

Happy Friday! We've got a great mix of Charleston events for you this week, including the return of some spring and summer fun, 

Party at the Point at the Charleston Harbor Resort and Marina returns this evening! If you've been looking for a way to unwind on Friday afternoons, this is it. Grab the family, recruit your friends, and enjoy some food, drinks, and live music, provided this week by The Dave Matthews Tribute Band. Opens each Friday at 5:30pm.

On Sunday, April 27, the Town of Mt. Pleasant will host the 27th Annual Blessing of the Fleet and Seafood Festival. Make a day of it by watching the blessing, seeing the decorated shrimping boats, and enjoying delicious seafood.

The 11th Annual Charleston Dog Show takes place at 9am Saturday in Marion Square. In keeping with the above event, this one includes the oh-so-sweet "Blessing of the Dogs." Admission is free and benefits participants like Pet Helpers, Middleton Place Hounds, and the Rescue Village.

From April 24-26, you can enjoy the Charleston Food Film Festival, a competitive festival in which the creators "serve up the food that guests are watching on the screen for a multi-sensory, full-bodied experience." The festival benefits local non-profit organizations like GrowFood Carolina.

Saturday also brings Jail Break: an opportunity for you to appreciate Charleston's local art scene. The event gets its unique name from its local, the Old City Jail. From their offical website: "Be prepared to lose yourself in a maze of visual and performance installations presented by Artist and Craftsman, The Art Institute of Charleston, and the Machiavellian geniuses of the local arts community."

That's it for this week! Get out and enjoy Charleston in the springtime. As always, we at Johnson & Wilson Real Estate Company wish you a safe and happy weekend.

 

 

 

 

Comparing Home Builders: Production or Custom?

Many buyers these days are turning to building new homes as opposed to existing ones. There are numerous advantages to doing so, including the fact that negotiations tend to go more smoothly since the builder doesn't have an emotional attachment, and the fact that you can upgrade and personalize to your heart's content. If you decide to build a new home, you've got a lot a decisions ahead of you, the first of which is this: Will you go with a production builder or custom builder? For some, the answer to this question is clear. But if you're on the fence or don't know the difference between the two, allow us to help. Take a look at our list of differences, pros, and cons below.

Production Builders

These are the home builders that are prevalent in new-home/master-planned communities. Examples of these builders in Charleston are Lennar, Beazer, Ryland, and David Weekley, among others. A main advantage of using a production builder is their purchasing power. Because they buy a large volume of materials and land, they get better deals, which they then pass on their buyers. According to the National Association of Home Builders, most production builders:

  • offer homes and land as a package
  • offer a range of plans to choose from
  • allow buyers to select their favorite style and design from a menu of details like elevation and upgrades
  • can usually deliver the same size of a home for less money
  • provide options for first-time buyers, those who are moving up, or even luxury buyers

In addition, when you go with a production builder, you have the option of buying a spec home (pre-built) or building from the ground up, giving you more control over what goes into the home.

Custom Builders 

When you choose to go with a custom builder, you choose to build completely from scratch. Most custom builders:

  • build on the land the buyer already owns, usually purchased separately
  • can build from a floorplan supplied by the buyer or can work with the buyer to create a customized plan
  • work closely with the buyer and allow them to make more decisions during construction
  • will include nearly any upgrades, additions, and details rather than presenting a set menu of choice

If your budget allows for it, going with a custom builder can be a great experience, especially if you're looking to build your dream home. You should expect to pay more for a custom-built home, but you also have a lot more control.

What are your experiences with homebuilding? Do you prefer custom builders or production builders? 

 

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