Helen Adams Realty is proud that Laurie Knudsen, our General Sales Manager and Broker in Charge of our Ballantyne office, has been elected by all the members of the Charlotte Regional Realtor Associations (CRRA) to be the next President.

In the course of my real estate career, I have been honored and continue to be honored serving the real estate community in many different capacities. I am also proud to serve in a leadership position in an association that continually keeps its membership at the forefront of industry changes and central to the real estate transaction. We have experienced many changes in the way we conduct our business; we have managed to adapt to the free flow of information and embarked on using social networking to enhance our business.

I hope to continue serving our membership and leading our association through the changes that the current economy will inevitably bring. By embracing change, and determining the best avenues to incorporate these changes, we will become stronger and provide added value to the consumer. Our knowledge, experience and dedication to this industry will propel us into the future. Real estate is and will continue to be my passion. It will be my pleasure to serve.

Laurie Knudsen

Bernice Ross wrote an excellent article in Inman news covering the issue of ONLINE pricing and the accuracy of sites like www.zillow.com and www.homevalues.com.

Overpricing your listing can cause your property to sit on the market for months. How can you tell what the correct listing price is for your property?
Last week’s column looked at four of the most common mistakes that can cause sellers to overprice their property. Today’s column provides a case study that illustrates the steps you and/or your listing agent must take to properly set the correct price for your property.
If you’re like most sellers, you want to obtain the highest possible amount from your real estate sale. With the creation of online automated pricing tools such as those provided by HomeGain.com and Zillow.com (there are several others but we’ll use these as examples), many sellers have turned to these tools as a way to establish what their property is worth.
These tools can be a good place to start, but they can also be wildly inaccurate. For example, my current property valuation on Zillow is about 28 percent higher than what the property would sell for in this market. On a $400,000 sale, that would mean that my list price would be $112,000 too high.
To understand how to be more accurate about pricing your property, examine the following case study based on a 1,250-square-foot house situated on a 6,000-square-foot lot in California.
What do the online evaluation tools say the property is worth?
HomeGain’s value estimate ranges between $428,000 and $502,000, while Zillow estimates the value at $373,000. As a seller, I would love to get the $502,000. As a buyer, I would want to pay $373,000. Which number is correct?
For the property in this example, Zillow had 86 comparable sales that have closed in the last six months. The HomeGain site included 10, some of them dating back to 2007. Clearly, closed sales prices (also known as “comparable sales” or “comps”) from 2007 are going to be substantially higher than sales from 2009.
The challenge is determining which set of numbers is the most accurate for this particular property. The first step is to make sure you have selected the most appropriate comparable sales. Is each of the comparable sales in the right area?
The property in this example has more value if it is south and west of the two major boulevards that divide the city. In this case, the closer the property is to the beach, the higher its value. …CONTINUED
The school district also makes a difference. For example, there’s an area in Los Angeles known as “Beverly Hills Post Office” (BHPO) that has a 90210 ZIP code. The students in BHPO attend the bottom-ranked Los Angeles Unified School District as opposed to the top-ranked Beverly Hills School District. Clearly, being in the better district dramatically increases property value.
A major mistake that both sellers and agents make is failing to follow the “10 Percent Rule.” This means that the comparable sales that you use to price your property are equivalent in size to your property. Specifically, the square footage of the lot and the square footage of the improvements (structure) should be within 10 percent of the house being evaluated for sale. The 10 percent rule is important because you can drastically over- or underprice a property if you don’t follow it.
In general, the bigger the house is, the less you may get per square foot. If you compared the 1,250-square-foot house referenced above to a house that had 850 square feet, you would price the property too high. On the other hand, if you used price per square foot and compared it to a house that had 1,800 square feet, you would price the property too low.
When I went back through the comparable sales for the house in our example, only three of the 86 properties listed on Zillow met the 10 percent rule. The Zillow information had the price per square foot for these three comps at $385.72, $346.51 and $321.96. Taking the average of the three, the mean was $351.40 per square foot.
Since I have not seen the inside of the other properties, I don’t know if they are actually comparable on the inside. The house in the example was totally remodeled in 2007. The remodel included a new kitchen, new baths, new electrical, plumbing and sewer lines. So what’s the price of the property?
Using the three comps and averaging them, the price would be $439,246. Using the closest comparable sale in terms of square footage, the price would be $433,138. While it would be tempting to say that the best comparable sale would be the $351.40 per square foot ($482,150), this would probably be overpricing the property.
Buyers may be willing to pay more for a totally updated house, but it’s unlikely that they would pay $50,000 more in this price range. As much as I would like a higher price, the property will probably sell somewhere between $430,000 and $440,000. In this case, the Zillow estimated value may be low by $60,000 to $70,000.
As this example illustrates, correctly pricing your home can be complex. Using the price per square foot is a good starting place. Nevertheless, there are hundreds of other factors that will influence the price. There is no way that a computer can evaluate the desirability of the floor plan, the value of a full or partial view, or a host of other factors that influence the sales price.
This is the reason that it pays to use all the tools at your disposal. Check the online values, interview at least three experienced agents who work your area, and then decide once you have put together a comprehensive set of data from each of these sources.
Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author of “Real Estate Dough: Your Recipe for Real Estate Success” and other books. You can reach her at Bernice@RealEstateCoach.com and find her on Twitter: @bross.

HUD has release a page for users to search for approved condominium complexes.  The Condominiums page allows users to search for FHA-approved condominium projects by location, name, or status. These properties are not for sale by the FHA. The search can be configured to find specific types of projects through the use of the pull-down menus and entry fields. Detailed help is available online or contact the Single Family Administrator.

For more information on this topic or any of your other real estate needs please contact us at 1800-851-5253 or www.helenadamsrealty.com

Tega Cay is a recreational waterfront community located on Lake Wylie just over the state line.  Located only 20 minutes from Uptown Charlotte, Tega Cay in York County, SC offers easy access to the airport and I 485 and I 77.  Living in Tega Cay is like being on vacation year round with its 27 hole golf course and country club, miles of walking trails, neighborhood play parks, baseball and soccer fields, tennis and swim centers, a marina,  and beach and lake access parks.  Tega Cay home prices range from the high one hundreds to several million dollars.  Award winning Fort Mill schools and low SC taxes make Tega Cay an even more inviting place to take up residence and live the good life!

Jo Butterworth   704-267-3643

For more information please visit our website, www.helenadamsrealty.com.

Join us for the 13th annual North Carolina Peach Festival to be held this year on Saturday, July 18, 2009. There will be all types of booths from crafts to food to clothing items. The parade begins at 10:00 and will follow a route through downtown Candor on Main Street and will feature our Peach Queen Whitney Richardson, peach wagons, vintage cars and trucks, tractors, fire trucks and many more entries. There will be plenty of Montgomery County peaches and peach ice cream to eat. The Sand Band (award winning beach music) and Blue Horizon (bluegrass/gospel) will be playing in the park which is also downtown. For the railway enthusiast, the Aberdeen, Carolina and Western Railway will be hosting train rides and a miniature train will be on hand for the wee ones. There will be lots activities for the whole family. For the really adventurous at heart, Pinnacle 1 Aviation will be providing helicopter rides for a spectacular view of the Festival and the Town.

In conjunction with the Peach Festival, the Candor Volunteer Fire Department will host a Donkey Baseball game on the night before at the Candor Lions Club baseball field, July 17th. Bring your lawn chairs and get ready for a fun filled weekend. For more information, call Candor Town Hall at (910) 974-4221.

Helen Adams Realty is proud to offer the nationally recognized, Ninja Selling®  coaching program for our agents and staff.  Our coaching program is taught by national Ninja® trainer and coach , Zan Monroe (www.zanmonroe.com).  Ninja Selling is a sales system developed by Larry Kendall and The Group, Inc., in Colorado, and the program is now taught nationwide. The system is based on a philosophy of building relationships, listening to the customer, and then helping them achieve their goals. It is less about selling and more about helping people buy.
The name “Ninja” Selling was derived because one of The Group sales partners who helped develop the system was nicknamed “The Ninja” by the staff in his office.  He had great sales volumes, great customer satisfaction and referrals and yet seemed to have a life outside of his career.  He had by far the highest income per hour of any salesperson in the company.  Larry Kendall began documenting the sales systems used by the original Ninja and other top sales people at The Group.  Ninja Selling is the result.
Ninja Selling helped The Group, Inc. be recognized by Realtor Magazine (2005) as the: ”highest salesperson productivity company in the United States” as measured by transaction side per sales associate.
The Ninja coaching and training program goes hand-in-hand with Helen Adams Realty’s business philosophy to deliver the highest level of personal service, and we are thrilled to offer this program to our agents and staff.

For more information about careers at Helen Adams Realty please contact us at 1-800-851-5253 or visit our website, www.helenadamsrealty.com.

Quality Service Certification, Inc. and Leading Research Corporation have identified 20 companies and offices in North America that, according to consumers, deliver the best service quality and customer satisfaction. Helen Adams Realty has been awarded a “Top 10 in Nation Customer Service” award by Quality Service Certification, Inc. Helen Adams Realty’s Randolph Road and Lake Norman offices also won an additional “Top Individual Office in Nation” award for their outstanding customer satisfaction ratings.  This award is based upon feedback from 250,000 consumer surveys of more than 500 participating companies and 30,000 real estate agents.  In 2007, Helen Adams Realty was ranked the #1 Quality Service Certified® real estate firm in the Nation!
QSC® is a nationally recognized training program which focuses on providing premiere customer service.  This program introduces standards of practice and procedures to deliver more valuable service to clients.

Top 10 Companies in Nation
Helen Adams Realty— Charlotte, NC
Coldwell Banker Howard Perry and Walston— Raleigh, NC
Coldwell Banker Pennington-Chen — Houston, TX
Prudential Northwest Properties— Portland, OR
Prudential Tropical Realty— Tampa, FL
RE/MAX Creative Realty, Inc.— Lexington, KY
RE/MAX First— Clinton, MI
RE/MAX Properties, Inc.— Colorado Springs, CO
Tomie Raines, Inc.— East Lansing, MI
WEICHERT, REALTORS® Rebhan & Ass.— Charlotte, NC

Top 10 Offices in Nation
Helen Adams Realty – Randolph Road Office, Charlotte, NC
Helen Adams Realty – Lake Norman Office, Huntersville, NC
RE/MAX Properties, Inc., Colorado Springs, CO
Real Estate Professionals GMAC, Redding, CA
New Tampa Office— Prudential Tropical Realty, Tampa, FL
Downtown Office— Prudential Palms Realty, Sarasota, FL
Hillsboro Branch— Prudential NW Properties, Hillsboro, OR
New Providence Office— Prudential, New Providence, NJ
Hillsborough Office— Coldwell Banker, Hillsborough, NC
SouthPark Towers— WEICHERT, REALTORS®, Charlotte, NC

The next quarterly meeting for the Plaza Midwood Heighborhood Association will be held on July 23, 2009 at 7 P.M. in the Kilgo Methodist Church.  The association is looking for input from residents to be included in the agenda.  For more information on this meeting visit Plaza Midwood Neighborhood Association website.

There  will also be a Neighborhood Watch Meeting in conjunction with the quarterly meeting.

CHARLOTTE HOMES The Ballantyne Country Club neighborhood is already buzzing with activity as planning has begun for the for the 6th Annual BCC Rally, to be held in September 2009 in support of Rally for the Cure®. Proceeds from the week long series of events will benefit Susan G. Komen for the Cure, contributing to their promise to help end breast cancer forever.
Last year, Ballantyne Country Club’s Rally for the Cure® events raised over $114,000 for Susan G. Komen for the Cure; making it the #1 fund raising Rally for the Cure® event in the United States for 2008!  75% of the contribution to Susan G. Komen for the Cure remains in Charlotte, directly benefiting our community.  The remaining 25% supports research at SGK National Headquarters.
September 2009 will mark the 6th anniversary of BCC Rally supporting this cause, continuing with its two major goals: to raise funds for Susan G. Komen for the Cure and to increase awareness about breast cancer in the Charlotte community. The BCC Rally week schedule includes a  Family Day, Ladies’ Golf &Tennis Events, and special Evening Event.
Silent and Live Auctions will take place throughout the week and provide a fabulous opportunity for local businesses to support this worthwhile cause, while raising their visibility in the south Charlotte area. All supporters of BCC Rally, whether donating to the auction or offering assistance in other ways will be recognised on the BCC Rally website for a full year, and be included in the BCC Rally Directory, which will be distributed to over 1,100 households.

For information about how your business can support BCC Rally for Rally the Cure® , please contact:
www.bccrally.com
For more information about Susan G. Komen for the Cure, please contact:
www.komen.org
1-877 GO KOMEN (1-877-465-6636)

Despite home price drops in many cities, remodeling projects are holding their own as a way for owners to add value.
NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.
Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.
Remodeling remains hot in 10 cities, where, on at least some projects, home owners can recover 100 percent of their costs. In Charlotte, N.C., for example, decks, midrange kitchen remodels, vinyl siding, and window-replacement projects all would net more than they cost, in respondents’ estimation. High rates of recovery were seen in both strong real estate markets and weak ones.
Seattle also made the list of cities with a cost recovery of more than 100 percent on decks and minor kitchen remodels. In fact, Pacific Coast cities recorded the best payback on remodeling by a wide margin, as they did in 2007.
The result is an average cost-recouped percentage that’s 14.8 percent higher than in the rest of the country. The toughest place to get your money back: Midwestern cities such as Chicago, Cleveland, Indianapolis, and Milwaukee.
Top 10 Project Paybacks

Exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.

1.  Upscale fiber cement siding (86.7%)
2. Midrange wood deck (81.8%)
3. Midrange vinyl siding (80.7%)
4. Upscale foam-backed vinyl (80.4%)
5. Midrange minor kitchen remodel (79.5%)
6. Upscale vinyl window replacement (79.2%)
7. Midrange wood window replacement (77.7%)
8. Midrange vinyl window replacement (77.2%)
9. Upscale wood window replacement (76.5%
10. Midrange major kitchen remodel (76.0%)

For more information on Charlotte Homes or other real estate questions please visit our website or call 1800-851-5253.