Did you know that most buyers form a strong opinion of your home before they walk through the door? First impressions matter big-time when selling your home, so you want buyers to be impressed from the moment they arrive at the curb. By maximizing the curb appeal of your property, you can go a long way toward selling your home. Let's take a quick look at some of the aspects to consider when it comes to the outside of your home.
Once you have your home looking great from the curb, it's important to keep it that way. Selling your home is so much easier when buyers have something to be excited about from the moment they arrive for a showing or open house, and curb appeal can even encourage buyers to stop for a look when they happen to pass by the home during their daily travels. The time, money, and elbow grease you invest in curb appeal is a small cost for the potential benefits.
Why selling your home with a modern agent is more important than ever in 2022
We know you've seen endless episodes of real estate TV shows on HGTV, follow bloggers who "sold their home on their own" and spend hours studying online real estate websites to see what homes are selling for and what the market is like.
You might feel like you have a good grip on how the whole selling your house thing works but here are 3 reasons why it's important to have an agent you can trust working in your best interest:
1. You can't call that online website or design blogger when you get 12 offers and have no idea how to choose the strongest one (it's about more than price and there are things you won't know how to interpret in that contract if you're not a professional).
2. That online website has never been inside of your house. It is absolutely impossible to rely solely on an estimate coming from the internet when pricing your home.
3. You'll never know if you're truly maximizing your sale price when you're doing this without the advice of a professional. There are multiple points within the transaction that can end up with you leaving money on the table that you didn't necessarily have to.
This just touches the surface of the importance of working with a licensed agent when selling your home. Here's the best news - We are an open book. If you have a question, reach out and ask us. Our experienced agents are always happy to walk through different scenarios and show you what it could look like to have a modern agent working with you through your home sale (and why you're more likely to net more money in that scenario).
THANK YOU AND MORE
By Brad Gosslee, President, Coldwell Banker Gosslee
I want to start this month's local housing update with three BIG thank yous! We ended 2021 as the top real estate company in Northwest Louisiana once again. It was our 29th straight year at the top! And it wouldn't have happened without our support staff, agents, buyers and sellers.
I am convinced that our support staff is not only the best in Shreveport and Bossier, but the best in Louisiana. They are incredibly invested in the success of our agents and do so much of the behind-the-scenes work and details involved in real estate transactions allowing our agents to focus on serving the needs of their clients.
Our agents participated in more than 2205 closed transactions last year leading to Coldwell Banker Gosslee setting a record with $570 million in sales volume (the total price of those homes). With so little inventory and incredible buyer demand, our agents showed their skill, professionalism and dedication while they guided their clients through one of the most challenging real estate markets we have ever encountered.
Our clients benefitted from the effort our staff and agents put forth. We understand that there is stiff competition and appreciate your trust. It's even more humbling for you to turn to us during a market like this. You challenge us every day to put forth maximum effort and deliver outstanding results. THANK YOU!
As I have said, this past year was one of the most difficult markets we have ever seen. While normally Northwest Louisiana doesn't mimic the national trends and we record steady and slow price appreciation, this year was different. The number of sales in Caddo, Bossier and Desoto Parishes surpassed 6,000 (6,027) for the first time ever, a 10% jump over 2020 which was up 13% over the previous year. That is a lot of buyer activity.
We got to the record because December was the busiest last month EVER. There were 468 home sales, 112 (+31%) more than the rolling five-year December average. In fact, November and December combined for 914 home sales alone. All of this happened despite Desoto Parish being off 15% in sales largely because of the extremely low number of homes on the market.
With so many buyers in the market, largely because of mortgage rates that spent much of 2021 at-or-near record levels, homes are being gobbled up quickly. We are now at a record low of only 770 homes on the market. This equates to a 1.5 month supply compared to 4.5 months two years ago.
This chart shows overall Northwest Louisiana sales and how they have changed over the last 5 years in December alone. The increases are dramatic:
Price Range |
December 2021 Sales |
December 2020 Sales |
December 2017 Sales |
% change over last 5 years |
Total |
468 |
450 |
348 |
34.5% |
$100,000 & less |
51 |
80 |
99 |
-48.4% |
$100,000-$200,000 |
178 |
166 |
130 |
35.8% |
$200,000-$300,000 |
133 |
122 |
84 |
58.3% |
$300,000-$400,000 |
60 |
51 |
28 |
114.3% |
$400,000-$500,000 |
27 |
15 |
3 |
800.0% |
$500,000+ |
19 |
16 |
4 |
375.0% |
The speed of the market is also intense. Locally, our median days on market – how fast homes sell - is a ridiculously fast 15 days, down 56% from a super-fast 2020. This figure was even lower (12 days) for the 468 homes that sold in December. We are below the national median of 19 days according to the National Association of Realtors which also shared that 79% of all U.S. homes in December sold within 30 days of being on the market.
Now look at this chart that breaks down where the greatest activity occurred for all of 2021. It's fascinating to see how our "move up" market played out with large percentage increases in the $300,000-$500,000 ranges, especially in Caddo and Bossier Parishes:
Price Range |
YoY Number of Home Sales NW LOUISIANA |
YoY Number of Home Sales in Bossier Parish (% change over 2020 |
YoY Number of Home Sales in Caddo Parish (% change over 2020 |
YoY Number of Home Sales in Desoto Parish (% change over 2020 |
Total |
6,027 (+10%) |
2,410 (+8%) |
3,421 (+14%) |
196 (-15%) |
$100,000 & less |
873 (-18%) |
216 (-18%) |
625 (-17%) |
32 (-26%) |
$100,000-$200,000 |
2,180 (+8%) |
697 (-4%) |
1,413 (+14%) |
70 (+21%) |
$200,000-$300,000 |
1,760 (+16%) |
865 (+6%) |
859 (+36%) |
36 (-48%) |
$300,000-$400,000 |
685 (+30%) |
402 (+47%) |
250 (+21%) |
33 (-31%) |
$400,000-$500,000 |
310 (+63%) |
151 (+66%) |
141 (+62%) |
18 (+50%) |
$500,000- |
101 (+25%) |
44 (+29%) |
55 (+20%) |
2 (100%) |
$600,000+ |
118 (+71%) |
35 (35%) |
78 (+81%) |
5 (400%) |
And, at the risk of sounding like grade school economist, the supply vs. demand equation naturally leads to higher prices. Our median home price (middle of all sold homes) in Northwest Louisiana finished the year at $198,950, 8% higher than a year ago while our average price ended the year up 11% to $221,840. Our agents have always heard me talk about our market as "Steady Eddie" where our price appreciation is normally 3% or 4%. But now we are just slightly behind the national price increase of 15.8%.
Yes, you read that right. The National Association of Realtors recently reported that December saw the median price across the nation skyrocket to $358,000. At the same time inventory levels (the number of homes on the market) dropped below 1 million for the first time ever to 910,000. This was 14.2% below 2020's already depleted levels. The supply equates to just a 1.8 month supply.
I'd like to focus a bit more on our supply levels. Previously I shared that we currently have fewer than 800 homes on the market. We entered 2021 with more than 1,000. Back in July 2018, we had about 2,300 homes for sale! This chart puts things in even greater perspective:
Price Range |
# Homes That Came on the Market in Dec. 2021 |
Current Inventory |
Current Month Supply |
Dec. 2020 Inventory |
Dec. 2019 Inventory |
Dec. 2018 Inventory |
Dec. 2017 Inventory |
Total |
354 |
770 |
1.5 |
1,027 |
1,813 |
2,058 |
2,126 |
$100,000 & less |
44 |
223 |
4.4 |
234 |
348 |
437 |
447 |
$100,000-$200,000 |
116 |
220 |
1.2 |
349 |
665 |
667 |
771 |
$200,000-$300,000 |
112 |
141 |
1.1 |
176 |
394 |
467 |
448 |
$300,000-$400,000 |
50 |
73 |
1.2 |
101 |
165 |
223 |
230 |
$400,000-$500,000 |
16 |
41 |
1.5 |
69 |
100 |
106 |
102 |
$500,000+ |
16 |
72 |
3.9 |
98 |
141 |
158 |
128 |
One of the major reasons that I write that blog is to make certain that our local buyers and sellers know what is occurring here vs. what they hear about the national scene. Here is a look at how we compare nationally using the National Association of Realtors Existing Home Sales report as a guide:
|
U.S. (change over Dec. '20) |
Northwest LA (change over Dec. '20) |
Median Price |
$358,000/+15.8% |
$203,450/+8% |
Number of Sales |
6.18 million/-7.1% |
468/+4% |
Inventory |
910,000/-14.2% |
770/-25% |
Months' Supply |
1.8/1.9 |
1.5/2.3 |
Median Days on Market |
19/21 |
12/29 |
As I have shared often, this rise in equity coupled with demand could make this a great time to sell your home. But you really need as much information as possible and I encourage those considering selling to contact one of our agents. They can answer any questions you might have, create a roadmap for you and also potentially connect with you with a great agent in the city or town you are thinking of relocating too. And, if you are doing a crosstown move, obviously we can help here too.
As I close out this month's blog, I want to encourage those who want even more information to utilize the Coldwell Banker Gosslee Monthly Report that shares great data from the Northwest Louisiana Association of Realtors MLS.
And once again, thank you for making us the top real estate company in Northwest Louisiana for the 29th straight year! Wow!
Preparing your home for a listing can be a lot of work — from cleaning to staging, you always want to position your home in a way that impresses potential buyers. However, when it comes to home sales, it's the little things that tend to often have the biggest impact. A lot of minor issues that may not give you a second thought may cause a buyer to hesitate before moving forward.
If you're getting ready to list your home, don't sweat major renovations. Instead, your time may be better spent focusing on the little things that can make a big difference. Here are some examples:
Major upgrades and renovations may not be necessary before listing your home. Instead, focus on the small, inexpensive repairs that can have a major impact on the outcome of your home sale.
Smart Home Technology Game-Changers
Smart home devices not only boost your home's IQ, but they also make life easier and more efficient. Curious but unsure where to start? Today we are sharing a handful of the latest (and greatest) devices to check out!
The great thing about smart home devices is there's no need to try them all at once. Choose one that seems like a good fit for your lifestyle and family and give it a go.
What's a smart home device that you love?
When you're ready to sell your house, you know it's important to make repairs and spruce up your home's interior so that you can come closer to getting your asking price. But it's not just the interior that counts. You should also take a good hard look at the landscape and make a list of things that could be improved. A neat, well-maintained landscape that shows loving care will make an impression. There's just nothing like a well-tended expanse of green lawn, along with some eye-catching color in flower beds to lure the drive-bys into stopping and taking a closer look.
So what makes sense to repair, upgrade, or renovate in your landscaping?
Above all, make sure the exterior of your property is clean, weed free, and that plants, including the lawn, are neatly trimmed.
Selling your home is quite an undertaking. While the ideal scenario is to find a buyer that is willing to meet your terms and accept your price, many sellers receive multiple offers that are each appealing in their own ways. Fielding too many offers is certainly more preferable than receiving none at all, but how does a seller decide which is best? Believe it or not, when it comes to selling your home, the "best" offer might be a little harder to recognize than it may seem. Here are five tips to help you decide on the best offer when selling your home.
Selling your home is an exciting feeling, especially when you receive multiple offers. Take these offers in stride, consult with your REALTOR® frequently, and be sure to consider all details when selling your home to ensure you choose the offer that helps you reach our real estate goals.
Living in a home while it's on the market can be inconvenient, to say the least. Clutter around the house can not only make your listing appear smaller and less attractive, but it can also make it more difficult for buyers to envision themselves living in the home. Consequently, decluttering is an essential part of any home staging process.
Sellers living in the home that's on the market must be prepared for shoppers to drop by at a moment's notice. Keeping your home clutter-free 24/7 may seem like an impossible feat, especially if you have children. However, with some planning and practice, anyone can learn to declutter quickly and efficiently. Here are some tips to help:
It's not fun living in a staged home, but by keeping things as clean and presentable as possible, you'll find a buyer in no time. Then, you'll be well on your way to a brand new home of your own.
Whether you're buying or selling a home, the sales price is always at the top of the agenda. For sellers, the final sales price affects bottom-line profit and future plans. For buyers, it impacts future expenses for bills, home repairs, and renovations. Before selling your home, it's essential to consider repairs and upgrades that impact your profit and decide whether making them is your best option.
Many homeowners are faced with the dilemma of selling their home in "as is condition" or sinking money into needed repairs and upgrades. To answer that question, you need to evaluate necessary repairs, examine your financial situation, and research local real estate markets to determine the return on your investment.
Evaluate Necessary Repairs
All homes need repairs, but some are more urgent than others. If you live in an old home that hasn't had a lot of upgrades, you may have more costly repairs. Start by walking through the house and making a list of repairs and upgrades that may impact your sale. Any repairs to the foundation, roof, plumbing, and HVAC systems (heating and air conditioning) should be at the top of your list because they bring the highest return on your investment.
Other repairs and upgrades that add value include:
Examine Your Finances
Selling your home means moving to a new location. Whether you're buying your dream home across town, relocating out-of-state, or downsizing in retirement, you must consider moving expenses, as well as other move-in costs such as monthly bills, home repairs and upgrades, property improvements, property taxes, and mortgage payments, unless you pay cash. If you discount the sale of your home to allow the buyer to make necessary repairs, how does that impact your future finances?
Some buyers look for fixer-uppers, but generally that means minor repairs like new carpeting, new paint, and new light fixtures. Major repairs like a new roof, new windows, new plumbing, and a new electrical system are too costly. When major repairs are necessary, a buyer will usually offer a significantly lower price, ask the seller to pay for repairs, or walk away from the sale. Most buyers want a home that's in move-in condition, but you have to make sure necessary repairs won't impact your financial situation.
Research the Local Real Estate Market
Researching homes for sale in your area can help with decisions on making repairs. In most cases, fixer-uppers reflect a lower sales price than homes with numerous upgrades and renovations. You can view homes online or talk to your real estate agent about important repairs and upgrades that boost sales and provide the best return on investment.
Smart sellers weigh the cost of making improvements against the home's market value after improvements are completed. If you notice that most higher-priced homes for sale have upgraded kitchens, that's probably because the return on investment is high. This doesn't mean you have to tear out the cabinets and install top-of-the-line designer appliances. In some cases, painting old cabinets, installing new hardware, and hanging new light fixtures are enough to give your kitchen an updated look.
When you're selling a home "as is," this means you will not make any repairs or offer the buyer any discount to cover the cost of repairs. Based on your real estate needs and your timeline to move, your real estate agent can help you decide whether an "as is" sale or a discounted price is your best option.
Tax season is upon us, and if you sold your house in 2021 (or are planning to sell it in the future), you're in luck! Thanks to the 2018 Tax Cuts and Jobs Act, there are some tax deductions you can take that may result in serious savings! Here are a few of the most important.
While the information above is an excellent starting point, remember that each person's finances are different. It's always a good idea to speak to a tax professional before filing your taxes, particularly in years when you have a major life change, like a home sale.
If you're thinking about listing your home in 2022, there's no reason to wait until the spring, as low housing inventory and high demand continue in many parts of the country. Winter typically has been a slow time for real estate sales in most parts of the country, but as we kick off the new year, serious buyers likely will pick up where they left off in 2021, facing stiff competition for properties that are selling quickly and for high prices.
Despite the hot market, it's still important to make sure your property appeals to buyers before listing. Here are a few easy steps you can take to make sure your home stands out.
Sort through holiday decorations. Make the dreaded annual ritual of taking down decorations more productive by using it to begin clearing out unwanted items as well. Before stuffing all your trimmings into plastic bins, take stock of everything you have – lights, ornaments, wreaths, figurines – then toss or donate those you no longer want.
Declutter and depersonalize. Decluttering is the key to making your house appear more spacious. Go through each room and decide which pieces of furniture and other things to keep, donate or put in storage, and remove family photos and personal knickknacks.
Boost curb appeal. You get only one chance to make a positive first impression. To make the exterior enticing, paint the front door, pressure-wash the driveway and patios, clean out gutters, trim shrubs and trees, and add greenery and fresh flowers to your entryway and front porch.
Deep clean. A spotless house will show buyers your property is well taken care of. Clean from top to bottom, including windows, window treatments, ceiling fans, baseboards, countertops, cabinets, flooring and appliances.
Repaint in neutral colors. A fresh coat of paint can make the interior feel new. To appeal to a broader audience, choose warm neutral colors, such as beige, tan, gold or gray.
These easy steps will make your property stand out, appeal to more buyers and sell quickly.
Wish you could wave a magic wand and change up your décor? Well, the wand trick may not work, but reimagining things you already own in fresh and exciting ways can breathe new life back into lackluster interior designs. Sometimes, it's just a matter of switching things up. Chances are you already have what it takes to refresh your décor. So stop taking your once-coveted finds for granted and have them speak to you again. Start by reconsidering where decorative items and furniture can relocate within your home – big change begins by making simple yet strategic moves.
Picture This. How many times have you passed by that painting on the wall without taking a second look? Then it's time to let it live somewhere else. Imagine your art, framed pictures and mirrors in different rooms of your home. Try them out in areas of the house with corresponding color palettes. Soon you'll have a newfound appreciation for those familiar – now repurposed – favorite pieces that will once again engage your attention.
Presto Chango. A little to the left … now to the right. Play this game of musical chairs and sofa for a fresh new take on your furniture placement. By simply moving key objects around most any room, you'll discover a brand new outlook on your interior design. A fresh perspective is sometimes all it takes to shake things up.
Pillow Talk. That cushy little bundle of comfort may not get much attention, but if you swap out your throw pillows for ones in a fresh pop of color or pattern, you'll be amazed at the impact they can create. It's an inexpensive way to introduce a renewed sense of aesthetics into a room and enliven all-too-familiar furniture. Accent pillows and throws can be the common thread that runs throughout an interior design to tie the color scheme together.
When it comes to design, not everything should stay the same forever. So be open to the possibility of change and start moving a few things around – you'll be pleasantly surprised at how things take on a fresh new look when you switch them up.
Does your home still fit your needs or is it time to think about the benefits of buying a new one as you enter the next phase of your life? Whether you're an empty nester with rooms that are no longer used or need more space to raise your growing family, rightsizing – finding a home that's the ideal size for your current lifestyle – may be the best option.
Assess Your Living Space. Before deciding whether to rightsize, take stock of your everyday life and ask yourself a few questions, including:
Look to the Future. If you decide it's time to make a move, consider your current lifestyle as well as potential changes in circumstances that could occur in the next few years to determine what size home is best. Maybe you're planning to have more children, retire in a few years or anticipate an aging parent moving in with you. While you might not need extra space right away, you could in the near future.
Great Layout vs. Square Footage. Getting hung up on a property's square footage could mean missing out on your dream home, especially in today's highly competitive market. If a house or condo has the number of bedrooms, baths, kitchen and amenities you want, but its square footage is somewhat less than you envisioned, it still may be worth considering if it has a well-designed layout that uses space efficiently.
Review Your Finances.
Whether you're looking to downsize or up-size, how much you can afford extends beyond monthly mortgage, tax and insurance payments. Relocating from a sizable residence to a condo or townhome – perhaps in a maintenance-free community with amenities – could mean significantly higher HOA fees and require you to buy new furniture that fits smaller spaces, while a bigger house will have higher utility costs and need additional furnishings to fill extra rooms.
Regardless of your reason for wanting to move, a Coldwell Banker Gosslee agent has the tools and resources to help you sell your current home and find a new one that's right for you.
2021 was a great year for home sellers. Record low inventory combined with low interest rates sparked the hottest seller's market in several decades. It wasn't uncommon to see homes fly off the market in less than a day, while bidding wars often drove sales 10-15% over asking price.
While typical real estate seasonality has cooled things off just a bit over the last couple of months, many sellers are wondering what to expect in 2022. If you weren't ready to list your home this year, you might be wondering if you missed the boat.
While there are most certainly changes ahead in 2022, it's still likely to be a great time to list your home. Here is what to expect:
How Sellers Can Prepare for 2022
The hot seller's market of 2021 is likely to cool off in 2022. Despite increases in inventory and higher interest rates, we're still likely to see a seller's market this year. As home prices continue to appreciate, it's likely still a great time to list your home.