Tips on what to consider when making an offer

When buying a home, buyers want to avoid paying more than they have to, but may need to juggle some numbers in order to reach an amount that seems fair to both parties. Deciding what to offer a seller for their home is a delicate process that your REALTOR® can assist you with. Before making a bid, there are some items you should analyze when discussing the matter with your real estate professional.

A comparative market analysis (CMA) is a popular mathematical method for estimating the true value of a property. Similar to comparison shopping, a CMA will examine the home in terms of number of bedrooms, bathrooms, and total square footage. Using the MLS, your REALTOR® can find homes of a similar size that have recently sold or are currently on the market, and from there, you and your agent will be better equipped to discuss an offer price.

"A CMA is incredibly important in helping to determine what you should offer a home seller," says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. "Be sure that the homes you are comparing are, in fact, similar, and pay special attention to the prices that these comparable homes sold for and not their listing prices."

Market trends are also a large factor in this step of the process--a step that your REALTOR® will be an invaluable resource for. All trends affecting the local real estate market will also affect your transaction and may narrow the offer range even further. If buyers are typically receiving great deals that often fall directly in their price ranges, it may be a buyer's market. If sellers are receiving multiple offers and bidding wars are common, the opposite may be true. Speak to your REALTOR® who can best fill you in on what's happening in the real estate market around you.

"Your REALTOR® will be able to clue you in as to the competition, info about days on the market, interest rates, and any seasonal issues that may occur," says Ray. "There is no question that current trends in the industry affect every transaction. The more educated you are about these trends, the better off you will be when deciding on your offer price."

Specific information about the property in question will also be valuable in your decision making. "The number of days on market definitely affects a seller's motivation to sell. If this number is greater than the local average, a seller may settle for a lower price," says Ray.

Other situational factors can also affect price. For example, if the seller lives out of state or wants to quickly close escrow, the seller may want to speed up the process. If such a situation exists, it will highly impact your bidding strategy.

"Balancing out the situational, property-specific factors with local market trends is the best way to pin down your offer," says Ray. "By approaching this stage of the process with an educated outlook, you will be successful in locking down a new home."

What to do before you start house hunting

SAVANNAH , GA, Apr 28, 2011 -- Now is a great time to consider buying a home. Whether you’re relocating, purchasing a vacation house or looking to become a homeowner for the first time, there are certain things you need to do before you even begin to look for a new home. Doing your homework before plunging into the house hunt can save you valuable time and energy.

Before you begin looking at homes, determine what you can afford to spend. “This may seem obvious,” says Connie, Ray, President/Owner of Coldwell Banker Platinum Partners, “but it’s a step that can lead to disaster if overlooked, causing you to waste time with homes you can’t afford, or sparking arguments with family members about what your budget looks like.” Before you begin looking, sit down with all parties involved and set a realistic price range, including the amount of money you can afford to put down.

Once your budget is determined, make a list of what you’re looking for. What type of neighborhood do you have in mind? Do you want to be able to walk into town, or are you looking for a private setting with lots of land? Make a detailed list of the absolute necessities, like good local school systems, versus things you simply want, such as a modern kitchen for the chef in the family or a guest room for relatives. Ray notes that “while both wants and needs are important, knowing the difference will help guide you in your decision making process. “ Ray stresses the importance of planning and talking about important details in advance, enabling you to weed out any possible homes that don’t meet your criteria.

After listing your wants and needs, Ray suggests talking to your bank about your mortgage rate and figuring out an affordable monthly payment. “When looking at a monthly payment, you should always take into account unexpected expenses, such as medical bills or a job loss. Make sure you have enough emergency money saved to cover a few months’ payments, should something go awry,” suggests Ray.

It’s also important to keep your credit in mind before you begin hunting. “There is nothing more heartbreaking than finding your dream home only to have the bank refuse to give you a loan due to credit,” says Ray. If your credit isn’t where it needs to be, spend a few months building it up before you begin hunting. “If your credit has really fallen, it can take up to two years to build it back up again. This is something you want to know before you begin searching for a new home,” notes Ray.

Fastest Growing Real Estate Franchise by Entrepreneur Magazine!

Entrepreneur Magazine recently ranked Coldwell Banker Real Estate LLC as the fastest-growing franchise among real estate companies for 2011 and the No. 14 fastest growing franchise in all business categories. Coldwell Banker Real Estate also was ranked No. 75 in the Entrepreneur 2011 Global Top Franchises list and No. 90 in the publication’s 32nd annual U.S. Franchise 500® rankings.

"In the midst of a challenging market, we are proud of our expansion and recognition as an ever-growing franchise," said Budge Huskey, president and chief operating officer for Coldwell Banker Real Estate LLC. "We're always moving, and that means forging new relationships and gaining presence in new markets, while empowering our existing franchisees and their sales associates with the tools they need to continue to succeed."

Among these tools is the recently released Coldwell Banker Managing Broker Academy, an online learning portal for managers and brokers. The newest tool provides videos, podcasts and social learning aids focusing on long-term educational planning and timely educational tools.

Additional training and ongoing support Coldwell Banker offers offices and agents includes:
• Intensive multi-day introductory training sessions offered at Coldwell Banker's headquarters and franchisee offices
• Diverse classes and continuing education programs available in person or online
• National and local advertising, including television, online and mobile
• Management conferences and regional training events
• Field operation evaluations
• Grand opening support
• Weekly newsletters

Entrepreneur’s 32nd Annual Franchise 500® report is based on its own proprietary rankings formula using financial and statistical data from July 2008 through July 2010. For more information on the rankings visit: http://www.entrepreneur.com/franchises/franchise500/about.html

For additional information on Coldwell Banker visit the Franchising Opportunities section of www.coldwellbanker.com.

How to Make Your Yard Eco-Friendly with Recycled Products

With warm weather on its way, more attention is being paid to the exterior of homes nationwide and homeowners are taking notice. Additionally, with more people paying mind to the environment, many yards, lawns and gardens are getting eco-friendly facelifts. Whether you're planning on selling your home or are just interested in spring cleaning, a well-manicured landscape is essential, and eco-friendly property detail lends your home an added edge, especially among today's more green-conscious home buyers.
"More and more homeowners are turning to the new trend of green home improvement, using products made from recycled materials -- like plastic or rubber -- in their yards and gardens," says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. "Not only is this trend good for the environment, but the changes are inexpensive and provide a great selling point for homeowners looking to put their property on the market."
Composite Lumber -- made from a combination of wood waste and recycled plastic such as milk jugs and grocery bags -- can be used for decks, fences, pool enclosures and patios. This green alternative is attractive, mold- and mildew-resistant and easy to clean. "Plastic lumber is a good way to go," says Ray. "It looks great, it's ecologically responsible and requires very little maintenance."
If you're on the hunt for eco-friendly outdoor furniture, plenty of choices are available, including benches, Adirondack and deck chairs, tables and even swings, all made from recycled plastic containers.
Planning on planting a garden? Instead of buying new planters for your flowers and veggies, try taking a look at what you already have that can be reused, suggests Ray. Items you may intend on discarding—like old plastic garbage cans or buckets that have sprung a leak—can make great garden beds. Even over-sized tin cans or that wheelbarrow you meant to drag to the dump would work. Allow yourself to really get creative.
Once you have found a recycled container to plant your garden in, it's time to rethink that traditional mulch. Instead, try planting in rubber mulch, made from 100% recycled rubber. "Rubber mulch is fantastic option for greening up your garden, and it is just as effective as traditional mulch at keeping weeds at bay," says Ray.
You can even find gardening tools, including water-resistant gloves and other gear, made from plastic water bottles. "Creating an inviting atmosphere that is attractive, fresh and green is important both inside and outside of your home," says Ray. "Luckily there are tons of eco-friendly options out there that are easy, inexpensive, and will leave your yard looking lush and polished."

How to Raise Your Home's Value

Given today's buyer's market, it's important for sellers to be aware of certain market trends in order to pique the interest of buyers. In conjunction, it's equally as important for sellers to be cognizant of their own home's market value, a concern for many current sellers. Whether planning to sell in a couple of weeks, months or years, value is crucially important. If you have concern about your home's assessment, there are plenty of ways to give it a swift boost before listing it on the market.
Refurbished rooms, such as basements, always go a long way in adding value to your property. Most basements are empty storage spaces that are rarely seen to any non-inhabitants. By turning the room into an entertainment area, bar or poker room, you add both value and character to the home -- both traits that will be loved by buyers.
Some homeowners may want to consider adding a deck to their property. For warmer weather, decks offer a relaxing getaway for entertaining, grilling or simply expanding your living area. "When a homeowner adds a deck, their return on their investment is estimated to be about 76%," says Connie Ray, President/Owner of Coldwell Banker Platinum Partners.
Take a look at other properties in your neighborhood and match the improvements of your neighbors. However, getting the right size is important. "Make sure the deck isn't too large for the home -- it should not be any larger than a third of your home," says Ray.
Every buyer loves to see a bathroom remodel and adding a master bath with more space will be monumental for home value. Renovating without putting in an addition is completely possible as long as you rework the space you already have. "Consider knocking out a closet to free up some more space," suggests Ray. "If that isn't possible, skylights, new tile and a brand new tub will also give the bathroom a fresh modern appeal that buyers and appraisers will love."
In the same vein as re-doing your basement, why not take the same approach with your attic? Create an extra bedroom or guest room, adding as many energy-efficient windows as possible for added sunlight. Consider adding hardwood flooring, custom seating and large closets for added value. This new room will surely make your home unique and appealing to buyers, while also adding the desired value you're seeking.
"There is no limit to the upgrades you can make when seeking to add value to your property," says Ray. "From room remodeling, fresh paint jobs, deck additions, and more, going the extra mile to bolster your home's worth will provide you with an excellent and beneficial result."

Coldwell Banker Platinum Partners March of Dimes Event at Emily’s

Coldwell Banker Platinum Partners hosted their 2nd annual “Wine Tasting Event” at Emily’s on April 3, 2011. The event included wine tasting, silent auction, delicious foods and great friends – all with the intention of 100% of the proceeds to benefit the March of Dimes. The March of Dimes is an American health charity whose mission is to improve the health of babies by preventing birth defects, premature birth, and infant mortality. “Our event raised a total of just under $4500! We were so excited to share this day and its intentions with our attendees and a HUGE thanks to our wonderful sponsors and silent auction contributors,” said Martha Hatfield, Broker in Charge at Coldwell Banker Platinum Partners. Sponsors included: Liquor & Wine (Richard Stewart), Emily’s Restaurant & Tapas Bar, Southern Wine & Spirits. Silent Auction Contributors included: Bay Street Jewelers, Bricks, The Chocolate Tree, Dataw Island Golf Course, Deals, Fripp Island Golf & Resort, Wendy & Jim Goller, Hollyhocks, Legends at Parris Island Lime Lite Salon, McIntosh Book Store, Palmetto State Shooting Range, Sea Eagle Market, Southern Sweets, Three Doors, Whitehall Plantation, City Loft Hotel Buoy and helping pour wine was Tom Halpin & Mindy Brace. Martha continued, “I must also thank our committee members for their love of March of Dimes: Debbie Barrett, Annette Bryant, Lynne Davis, Mary Godley, Kimberley Granquist, Dawn Vosbury VanGundy, Joan’ Vosbury and Wendy Goller.” For more information on the event please contact Martha Hatfield at 843.986.2444 or martha@cbplatinumpartners.com.

Stage to Sell!

The first impression is everything, and that holds steady in all sectors of life: a first date, a job interview, or staging your home for potential buyers. Properly prepping and staging your home can have a huge impact on the amount of time it takes to sell and the amount of money you can sell it for.
"Staging your home for walkthroughs is crucial," says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. "You want to be sure to make the best possible use of spacing possible. When staging your home, you're doing more than making an appealing setting for buyers; you’re aiming to show the way in which a space can best be utilized."
One of the most important rules of staging your own home, according to Ray, is disassociation. "Try and remove yourself from the familiarity of your house and look at it with fresh perspective," recommends Ray. That old hutch in the living room that has been in your family for generations is special to you, but to a potential buyer, it may look shabby and decrease the overall appeal of the room.
Another key part of staging is depersonalizing. Remove your photos from the walls and any visible personal mementos. When buyers walk into a room, they should be picturing themselves living there, not you.
"When it comes to staging, less most certainly is more," says Ray. "Create as much clean, clear open space as possible so that your rooms look spacious and organized." Take any furniture that is not necessary out of rooms, which will allow them to look bigger and showcase their full potential. Leave just enough so that it is obvious what the room was used for. Remove knick-knacks and de-clutter any cabinets, closets and drawers that potential buyers will likely open. Clear the appliances from kitchen counters, the books off the bookshelves and leave tables free. On staging days, place simple items like fresh-cut flowers on a few open surfaces to create an inviting atmosphere.
When staging your home, it is essential to pay attention to details. "Aside from the obvious surface cleaning, try and make any minor repairs that will affect the visual appeal of your property," suggests Ray. Fill in holes or cracks in the wall, re-caulk the bathtub or replace that cracked window pane you've been neglecting.
"And don't forget curb appeal," Ray cautions. Give the garage a fresh coat, keep the grass freshly cut and replace those missing planks in the backyard fence. "You want buyers to leave with the impression everything was clean and well-maintained. You don't want that leaky faucet or loose front step giving them the notion that the property hasn't been properly cared for."
Once your house is adequately staged, take that perfect setting into the digital world, adds Ray. "Most potential home buyers are also searching on the Internet. Make sure that your listing photos are as visually appealing as the real deal."