Although the current real estate environment might be worrisome for buyers and sellers, rest assured that we can still help you succeed in achieving your real estate goals. Here’s how.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday we’re discussing some of the more serious issues going on in real estate due to the health crisis. Before the pandemic, we were cruising along in an energetic market, but that has decreased noticeably in the current climate. At our offices, we’re closed to walk-in traffic and have limited what staff can be there. Some of these things create a bit of anxiety for our clients or those considering buying or selling. We want to allay some of that uneasiness today. To learn more about what we can do for you during these uncertain times, watch the video above..

John Head Colony Realty Corporation Podcast

How We’re Handling the Health Crisis

Although the current real estate environment might be causing anxiety for those who need to buy or sell a home, but rest assured that we can still help you succeed in achieving your real estate goals. Here’s how.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday we’re discussing some of the more serious issues going on in real estate due to the health crisis. Before the pandemic, we were cruising along in an energetic market, but that has decreased noticeably in the current climate. At our offices, we’re closed to walk-in traffic and have limited what staff can be there. Some of these things create a bit of anxiety for our clients or those considering buying or selling. We want to allay some of that uneasiness today. To learn more about what we can do for you during these uncertain times, watch the video above..

If you were alarmed at your home’s assessed value on this year’s property taxes, we can help remedy the situation. Here’s what you need to know.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleJust about a week ago, I started getting a lot of phone calls from homeowners who had recently received their property tax assessments in the mail. Many are confused about the huge increase they have seen in their home’s assessed value over the past year. If you're in the same boat, it’s time to get in touch with the assessor’s office to see about protesting your assessed value.If you have a home that we’ve taken a look at in the past or want us to give you a CMA of what your home is worth in today’s market, we can use that to support a lower value. You can also give me a call and I’ll be happy to send you some comps as well. That’s my offer to you. Even though we’re extremely busy, we’re always happy to help whenever we can. The right information is out there, but the county assessor isn’t using it. ”The county assessor’s office doesn't take the uniqueness of your home into account, especially here in the Outer Banks. If your property’s value went up by $150,000, like some have, that’s not right. We’ve had a lot of sales over the last few years that the assessor should be able to see and factor into their estimation, but it doesn’t always work out that way.It’s because they’re not using that information on their values. They’re using an algorithm that doesn’t take everything into account. We can help you use the information that they aren’t using to get a fair market value for your home.If you need help or have any questions at all, don’t hesitate to reach out via phone or email. I look forward to hearing from you..

We Can Help You Protest Your Property’s Assessed Value

If you were alarmed at your home’s assessed value on this year’s property taxes, we can help remedy the situation. Here’s what you need to know.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleJust about a week ago, I started getting a lot of phone calls from homeowners who had recently received their property tax assessments in the mail. Many are confused about the huge increase they have seen in their home’s assessed value over the past year. If you're in that boat, it’s time to get in touch with the assessor’s office to see about protesting your assessed value.If you have a home that we’ve taken a look at in the past or want us to give you a CMA of what your home is worth in today’s market, we can use that to support a lower value. You can also give me a call and I’ll be happy to send you some comps as well. That’s my offer to you. Even though we’re extremely busy, we’re always happy to help whenever we can. The right information is out there, but the county assessor isn’t using it. ”The county assessor’s office doesn't take the uniqueness of your home into account, especially here in the Outer Banks. If your property’s value went up by $150,000, like some have, that’s not right. We’ve had a lot of sales over the last few years that the assessor should be able to see and factor into their estimation, but it doesn’t always work out that way.It’s because they’re not using that information on their values. They’re using an algorithm that doesn’t take everything into account. We can help you use the information that they aren’t using to get a fair market value for your home.If you need help or have any questions at all, don’t hesitate to reach out via phone or email. I look forward to hearing from you..

I have another exclusive interview to share with you. Today I’m sitting down with Brandi Ward, our team’s sales assistant.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday I’m interviewing Colony Realty’s super sales assistant, Brandi Ward. Brandi will talk about her background and what she brings to the table as a sales assistant. We’re excited for 2020, and having Brandi on board is a big reason why.Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure: 0:45—Brandi’s previous experience working on a real estate team in Virginia1:48—Her former role in the sales department and onboarding process2:50—Why be a part of Colony Realty?4:10—Her transition to a more permanent role4:30—Wrapping things upAs always, if you have questions about what we discussed today or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help..

What Brandi Ward Brings to Colony Realty

Today I’m taking a break from the normal real estate chitchat to interview Jim Perry of Jim Perry and Company.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleFor my latest video blog, I’m joined by Jim Perry of Jim Perry and Company for a wide-ranging interview detailing his start in the industry, the highlights of his career, Colony Realty’s acquisition of Jim Perry and Company, and more. Jim and I met all the way back in 1999. In fact, he presided over my Realtor orientation class. Since then, it’s been a pleasure knowing him.Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure: 1:11—How Jim got his start in the industry2:23—Our acquisition of Jim Perry and Company3:54—The highlights of Jim’s career5:46—What Jim would say to anyone looking to work with Jim Perry and Company8:22—How Jim is enjoying the next stage of his life9:35—Wrapping things upAs always, if you have questions about what we discussed today or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help..

Jim Perry and the History of Colony Realty

Our Outer Banks market is poised for a great 2020. Here’s why.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleWhat’s in store for our Outer Banks market in 2020? To answer that question, let’s recap what happened in 2019.November was the biggest month in terms of homes going under contract since the MLS started tracking this metric in our area in 2013. This means that January and February of 2020 will feature a tremendous number of closings, which is a good thing because it creates momentum heading into the second quarter of the year.Before that, the market almost stalled near the end of the second quarter and the beginning of the third because interest rates jumped. After rates were reduced (twice), the floodgates opened. Interest rates are still low and the market is still strong, so if you’re thinking of buying or selling, now’s the time. 2020’s first quarter should be stronger than anything we’ve seen in the last decade.  I think we’re in store for a great 2020 in the Outer Banks market. ”After this propels us into the summer months, if history is any indication, we should see a bit of a dip right before the election. Uncertainty creates indecision, but that’s OK—we expect a great fall/winter season next year, which will put us in a great position once 2021 is ready to begin.Keep in mind, I don’t have a crystal ball. If the Federal Reserve were to raise interest rates by 0.25% or even 0.5%, it would slow everything down considerably. That being said, I think we’re in store for a great 2020 in the Outer Banks market.If you’re thinking of buying or selling a property or you have any more questions about our Outer Banks market, don’t hesitate to reach out to me. I’d love to help you.

What to Expect From Our 2020 Outer Banks Market

We’re wishing you a happy holiday season and introducing you to each member of our team.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday we wanted to send you a happy holiday message and thank you for a wonderful year! Watch the video above for introductions to every member of our team.As you may know, we’ve been in a transition this year, and we’re thankful to everyone who has been part of our programs or worked with us. On behalf of all of us, we want to wish you happy holidays.We enjoy helping our community with its real estate needs. If you have any questions please reach out to us. We’d be glad to help you.

Happy Holidays From Colony Realty!

Real estate can lead to some pretty interesting stories. Here are three events that stood out to me the most.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleI’ve spent more than 20 years in the real estate business, and those two decades have been filled with a lot of interesting moments. Lately, I’ve been doing a lot of reflecting on the fun, weird, and wild things I’ve seen throughout the years. There were three profound moments that really stood out to me, and today I’d like to share them with you.I had one of my first sales in the fall of 1998, when I helped a large family purchase an oceanfront property. Years later, they were looking to expand their investments, so I found them a property. It was a few days before closing and they still hadn’t received a loan package. Why? Because the underwriter wanted to see the title for the buyer’s Volkswagen. Regardless of the buyer’s many other assets, this loan professional was fixated on whether an old car was paid for.Another time, I’d just finished showing a home to a family. They had pulled away already, and I was just about to get into my truck. Before I got in, I saw a woman walk out of the house I had just shown. Apparently, she’d been on the deck the whole time; she only came out after hearing the door shut when we left. Then, after this somewhat odd encounter, she asked me to fix the light pole. Unfortunately for her, I couldn’t help. A lot of things have happened throughout the years, but these were a few of the events that stood out to me the most. ”My last story occurred when I was driving around, searching for a home’s location. It was difficult to find, but I finally arrived — with no way of getting inside! I figured I would walk to the owner’s home, as it was just down the road. Suddenly, a woman in the bushes asked, “Can I help you?” I told the bush woman of my plight, and she told me she could help. The whole ordeal just felt off, and it was one of the most uncomfortable experiences I’ve ever had in real estate. When we arrived, she began freaking out about everything that was wrong with the home. It turns out she was one of the owners, and she didn’t want it to be sold.A lot of things have happened throughout the years, but these were a few of the events that stood out to me the most. If you have any questions about real estate or would like to hear about more of my adventures, feel free to reach out to me. I look forward to hearing from you soon.

A Few Interesting Things I’ve Seen in My 20-Year Real Estate Career

Should you replace your roof before you sell your home? Here are my recommendations.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleRecently, many home sellers have been asking us whether they need to replace their roof before they sell their home, and today I’d like to share my thoughts.The answer ultimately depends on the age and condition of the roof. If you have a home with a roof that’s fairly old, I’d suggest that you have a contractor come take a look at it to see what its current condition is. If the age of the roof is suspect and you’ve had to have it patched a few times over the years, it’s also a good idea to have an insurance adjuster come out to see if you could work it into your insurance policy before you close on your home sale. If the roof is in bad enough shape, insurance companies may deny your coverage. ”Here’s why that’s important: Insurance underwriters are now sending people out to discover the age, quality, and lifespan of the roof on a home before they’ll insure it; if the roof is in bad enough shape, they may deny your coverage.What does that mean for you? Well, if you have a 20-year-old roof on the home you’re selling, the buyer will have someone come out to inspect the roof in order for their insurance to be able to cover it. If the roof is in such condition that their insurance won’t cover it, that may be a deal-breaker for them.So if the contractor you hired to take a look recommends that it be replaced, it’s a good idea to see if you can have at least a portion of it covered. Here in the Outer Banks, where we’ve recently dealt with Hurricane Dorian and then a nor’easter, coverage for wind damage is especially important.In the end, you’ll want to replace your roof before selling if the condition is poor enough to deter buyers from making it through the transaction to the closing table.If you have any questions about this or other real estate topics, don’t hesitate to reach out to us. We’d love to help you.

Replacing Your Roof Before Selling Your Home

Why is selling during the fall or winter such a good idea? Let’s discuss.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleThe end of the year is quickly approaching, and this has many homeowners who were thinking of selling in 2019 wondering if they’ve missed their window. But should you really wait until spring to list your home?Actually, while inventory certainly does drop during the later months of the year, the number of pending home sales speaks for itself. Fall and winter can be a great time to sell for those savvy enough to try. Our goal is to make buying and selling simple and stress-free. ”For one thing, the lower inventory will actually work to your advantage. Lower inventory means lower competition, and, besides that, buyers who are out looking for homes before and during the holidays tend to be very serious about doing so. The season is truly rife with opportunities if you understand how to take advantage of them.Speaking of homebuyers, if you’re looking to make a move but need somewhere to live for a few weeks or days before you commit to your next home purchase, please check out the video above to see one of the great rental properties Colony Realty Corporation has to offer right now. Our goal is to make buying and selling simple and stress-free.If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Should You Sell Now or Wait Until Spring?

Today let’s explore the historic property located at 3800 Elijah Baum Road in Kitty Hawkand discuss how we’re preparing it for the market.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday, I’m standing in front of a home that we’re prepping for sale at a historic location: 3800 Elijah Baum Road, Kitty Hawk, NC.This is a gorgeous location and property. Built in 1955, it’s an old 2-bed, 2-bath house that sits in the midst of ancient live oak groves. These trees have been documented to be between 250 and 300 years old or perhaps a bit older. That means they’ve been around since before Wilbur landed in the Kitty Hawk Bay in a schooner on September 13, 1900!In today’s message, I just wanted to give you a peek at the property, including showing you the ancient groves, discussing the history of the area, and showing you what we’re doing to restore this beautiful property.To see and learn more about 3800 Elijah Baum Road, I encourage you to refer to the video above. You can read more about this historic property in this interesting article.As always, if you have any questions, don’t hesitate to reach out to me. I’d love to speak with you. 

Listing Spotlight: 3800 Elijah Baum Road, Kitty Hawk

As we look toward fall, it’s a good time to buy or sell in our Outer Banks market.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday I want to give you a quick market update as we enter the fall of 2019. In short, our Outer Banks market is still brisk and active.If you’re thinking of buying, there’s a good deal of inventory to choose from. If you’re looking to sell, now’s a good time to enter the market as well—September, October, and November traditionally have a high number of homes going under contract.On a related note, if you’re interested in volunteering to help with the post-Dorian cleanup effort or you’d like to donate money to this cause, the Outer Banks Community Foundation and the Buxton United Methodist Men are two organizations I recommend reaching out to. They’ve each done a phenomenal job raising money and helping local families in need.If you’d like to know more about volunteering for these two organizations or making a donation, just reply to this email. If you have any more questions about our Outer Banks market, don’t hesitate to reach out to me as well. I’d love to help you.

An Update on Our Fall Market & the Post-Dorian Cleanup Effort

Why buy an existing home instead of a lot to build on? The answer boils down to cost.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleWhy buy an existing home instead of a lot?The answer boils down to the price of existing homes versus what it costs to build. Say you consider buying an $85,000 lot. On top of that, you have to tack on development costs (clearing trees, installing a septic tank, etc.) and building costs. Furthermore, over the past four or five years, building material costs have risen—most builders are quoting anywhere between $160,000 and $225,000.That’s a pretty wide range, so let’s give a couple of examples for scale. If you’re building a little beach box with just carpet and vinyl flooring and maybe upgraded countertops, you’ll pay closer to $160,000. If you’re installing heart pine floors, upper-end cabinets, tile surrounds in your master bedrooms and bathrooms, etc., your price will be closer to $225,000.So if you buy that same $85,000 lot, but you find out that building a 2,000-square-foot home would cost $200,000, that’s when things start to get expensive. This is why single-family home sales are far outpacing lot sales in our market. Over the past four or five years, building material costs have risen—most builders are quoting anywhere between $160,000 and $225,000. ”A lot of people are curious about buying lots because between 2008 and 2014, you could buy one for as little as $20,000. However, that’s not the case anymore.That being said, lots are still a viable long-term investment if you’re thinking of building a beach house, so give me a call if you want to get the ball rolling on this project.As always, if you have any other real estate needs, feel free to reach out to me as well. I’d love to help you.

Why Buy an Existing Home Instead of a Lot?

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John Head Colony Realty Corporation Podcast

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