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2020
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LA Property Tours

As many of you might know, I am providing a series of innovative property tours for my clients to differentiate our listings from the competition. Attached below is a BEAUTIFUL home I did in New Orleans. Check out the link below!

https://youtu.be/FUF1Bi45huY
Marketing Report--Beau Chene

Throughout my newsletters, I will be providing relevant market data for individual areas and neighborhoods in St. Tammany, Orleans, and Jefferson Parish. Today I am going over Beau Chene, one of the most coveted neighborhoods in the state with two 18 hole golf courses, perfect for country club living. Refer to the scattergram below. 

What this is showing us are all the homes that have been on and off the market in the past six months. The red line indicates the average Fair Market Value based on the price per square foot of properties that have sold. For example, if we start on the X axis at 4,000 square feet and follow the Y axis to the red line, we will find that the fair market value of a 4,000 square foot home is right around $570,000. An interesting point to note is that the majority of expired listings--those that tragically did not sell while on the market--are above the indicated line, while the majority of homes under contract are right at the line or below it. That being said, there still remains a certain art in pricing. Refer to the chart below on the odds of selling. 

Based on just the odds of adding your home to the number of those that have come on and off the market in the 12 months, your home would have a 51% chance of going under contract if you listed it today. Generally speaking, anything below 30% indicates a poor seller's market, and anything above 70% indicates a strong seller's maket. But wait a minute, 51%? Why would I list my home if it only has a 50/50 shot of selling? I know I certainly would not, and there lies the art of selling. 

What this chart is not taking into context are two very important details, condidition and pricing, both of which can have drastic effects on a home's marketability. What are homes A, B, or C really worth? Whatever the buyer is willing to pay, whether it be more or less, but the margin of forgiveness when it comes to bad pricing is slim to none. A fully renovated home with hard wood floors and marble counters will fetch a much higher price than its competitor that has not been renovated, even if they have the same square footage. The price has to be strategically set to catch the eye of potential buyers.  

Improved condition can have significant impact on your homes market value. If you were to list your home in Beau Chene today, based on the odds of selling at 51%, ensuring proper condition and selecting a strategic pricing position would be key. Which is why *cough cough* it is always wise to consult your local real estate advisor before entering into the market. 

 

How to Make Your Home Smarter

If you’re like me, you may have picked up some new skills and habits during the quarantine. We have enjoyed countless calls with friends and family over zoom/Facetime. You may have gotten out your apron and made your own bread. Or, if you’re like a large chunk of the country, you’ve looked around your house each day and thought, “we need to change this, or that needs to be updated.” According to the latest U.S. Census Bureau report, home centers, hardware stores, garden centers, and building materials suppliers realized a year-over-year sales increase of 22.6 percent as home improvement projects increased during the pandemic. A big way people are improving/updating their homes these days is by making them smarter. While it can seem a bit overwhelming and maybe pricey, the truth is that it can be a lot easier and more affordable than many realize. So, get ready to make your house run more smoothly and smartly because yes … “there’s an app for that!”

Smart Assistant

While we don’t have the flying cars we always imagined the future would hold, we do have robots at our beck and call to help with any and everything you need around the house. Coming in the form of a speaker, there are two Smart Home Assistants that dominate the market by essentially controlling other smart devices in your home. Your speaker assistant can play music, answer your questions, help with grocery shopping, set reminders, and much more. Check out the Amazon Echo and Google Home to help jumpstart your hub of smart home activity. 

Smart Lighting

The second easiest way to make your home smarter is through your house’s lighting. A simple way to do this is through smart light bulbs that you control through the above mentioned Amazon Echo and Google Home or through a mobile app. With these smart bulbs, you’ll be able to turn lights on and off individually or set them up to function for an entire room. You can even dim and brighten rooms and change the color of the light depending on what kind of mood you want to have. 

 

Smart Thermostat

This smart home feature may catch your eye most because not only can it help you with comfort, but it can also help you save on utilities by making your house more energy-efficient. Of course, you’ll be able to set the temperature to your liking and create a schedule for heating and cooling depending on your schedule. But, these smart thermostats can do much, much more. They can learn about you and your home by detecting when you’re home and away, and which rooms you use most frequently so your HVAC system only runs when and where it's needed. I’d recommend trying the Ecobee or the Nest thermostat. 

Smart Security

Finally, let’s talk about how your smart home can deliver one of the most important things you need: peace of mind. You can install a smart doorbell with a camera that not only allows you to see activity at your door, but it allows you to speak to whoever is there. This is incredibly handy for receiving packages especially when you are away on vacation. Then, take your door game one level higher with smart locks that make hiding a key a thing of the past. You can simply open your door with a code or an app and allow others you trust — like a dog walker or your postal delivery person — to do the same!

___________________________________________

 

I know how much you value and love your home. And if you’re like me, you’ve spent more time at home this year, which has led to home improvements. An easy way to update your home is by making it smarter, and you can use some of the suggestions above to make your home safer and more efficient.
 

As your local trusted advisor at GARDNER, REALTORS, it’s my job to help you create the life you love. From buying and selling to updating and improving, our team is here for you. 

 
Garrett Shearman »
REALTOR
Garrett Shearman Cell
985-249-9154
Office
985-626-8589
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