Some of my favorites houses I have sold

It’s been a pretty relaxing day.  Woke up a little early.  Drank some coffee.  Thought about some of my favorite houses that I have sold.

There are a lot more than these, but I wanted to share with you a bit about what I saw in these homes.

1.  The Cottage on the Lake House

LAKE

One of the things that made this place so cool was how much it offered for such a little price.  The seller used it mostly as a weekend get away.  While the whole place was special, this room with a wall of windows overlooking Herrington Lake was amazing.

2.  The Preserved Craftsman Cottage

sTAMPING GRD

The sellers used me when they bought this place.  It was a time capsule.  I think it was built in the 20s and updated a bit in the 50s.  The previous owner had lived there forever.  Everything was pink.  My sellers updated it with an eye on preserving it’s original character.

3.  The Transformation in the Sticks House

tAYLOR RIDGE

This place was so deep in Jessamine County that it was closer to Madison County than it was to Nicholasville.  It was literally a very plain shack when my buyer with a ton of vision and the energy for the transformation bought it.  Everything she did was totally amazing, but I had to pick one picture and I picked this one because of the window.  The ceilings were low in this house.  The windows were low too.  She came up with the idea to put all that trim around the windows and get this, to make the windows look taller, she put mirrors above them.  Take a closer look and you will see a reflection of what is inside.  Pretty clever!

4.  The Party House

Wyndham

Some friends of mine built this house and then added the pool.  I just sold it for them.  What I loved about this house was all the space for entertaining, which sounds strange of me to say because I never entertain….but if I did, the pool, the flat lawn, the patio, deck, and finished basement with a kitchenette would be what I would want.

5.  The Cozy Corner House

Hemming

I am a sucker for natural light.  This place was vacant when my clients bought it.  I liked this corner because it had windows on two sides.  It looked even better when they got this wicker sectional.  It was so cool that the people who bought it when I sold it wrote on their offer that the sectional stayed with the house.

6.  The “Everything I wanted except a 10 car garage” house

lake v

This is a house that made me wish I was 10 years younger.  Well, I wish that all the time, but what I mean is that I am too close to being an empty nester to want a perfect 5000 square foot house on an amazing lot, in my favorite neighborhood, that has been totally renovated.  If it were 2008, I would have bought it.

7.  The Love at First Sight Garage House

David Powell Media

These buyers had a 3 car garage in their old house that I sold.  They didn’t want to go backwards.  It is hard to find a 3 car garage in Lexington, but somehow we managed to find a 4 car garage.  The seller of this home was some famous football player.  He added the extra garage seemlessly into the house…..that’s how I will always remember him.

8.  The In the Country but not in the Country House

Todds

Talk about location.  Here are 10 acres and all the wonderfulness that comes with being in the country, but Domino’s in Hamburg will deliver your pizza.  Plus it has a pool and a bonus garage with an apartment.

9.  The “My Three Kitchens” House

Cambridge

This place not only had a really nice kitchen upstairs, it had a really nice kitchen in the 3000 square foot basement, plus this poolside kitchen.  I am not really sure why this impressed me because I never cook anything, but it did.

10.  The “Made my wife cry tears of joy” House

antilles

While it doesn’t look this good now, it did when I bought this place.  My wife had always wanted a covered patio and an outdoor fireplace.  When we came to see this house, she cried because she liked it so much.  It was like a dream come true.  I try to remind myself of that when I think about all the work I need to do to the inside….which I have been deferring for over 6 years now.

It was fun to be me this week

I kind of like the crazy days.

It’s been a busy week for me.  I’ve sold 3 houses, have 9 pending sales, and have been out with several new buyers.

This time of year always reminds me of that scene in Bambi where all the animals come out on the first day of spring.  I’m meeting new people and seeing old friends.  The days are getting longer and I am close to being back in shorts.

 

4f1b9ca1c35a50e5eb9b7829193242e8

 

Many of my past clients are calling to say they are thinking of moving.  Several of my past clients and friends have referred their friends or family to me.

I had one especially busy day this week.

I had to show a new construction home to a friend who has used me 3 times so far.  There was not a lockbox on the model home, so I had to find another model home with the same key, then return that key after the showing.

Then I had to rush to Winchester to see a house a friend and past client may sell.  It was out in the country in a beautiful setting.  I took my little M Roadster.  Back roads from Masterson Station to deep in Clark Co.  Lots of fun.

The whole time I was at that house, my phone was going crazy with texts and calls.  One was an agent telling me she was sending an offer on a listing of mine.  I already had an offer so I had to tell the other agent we were getting a new offer.

I check my email before pulling out of their driveway.  17 emails.  One was a new client who was referred to me from her daughter, who has used me a couple of times.  They were ready to make an offer on a house I had shown them in Clark Co the day before.

It was already well past dinner time and I had to get some work done, so I did the only thing that made sense.  I got a pizza and ate it in my car while I returned calls, texts, and emails.

 

IMG_0859

 

I’ve never eaten pizza in the dark, nor in such a small car.  All I can say is that I am glad the interior is black and I was wearing a red shirt.

I got home, wrote the offer for the Clark Co property, worked on the offers for my new listing, and finally got done about 10:PM.

This weekend looks pretty calm since I crammed about 3 days worth of work into that one day.  Saturday is Cars and Coffee, then Sunday I am going for a long drive in the country with some other car enthusiast friends.

The busy days make the not so busy days even better.

Glad it is almost spring!

What is it worth?

What is it worth?

That is a question I get asked a lot.

Sometimes I can do a little quick math in my head and come up with a ballpark number.  Most of the time my default answer is that I need to study the recent sales….AKA “The Comps.”

When the market was flat, it was easier to do it all in my head.  I could think “Oh, I sold that house over there a couple years ago, and I remember showing that one down there last year and it sold for this much.”  The past couple of years the market has been appreciating so much that the best answer is to look at the comps.  When values are going up (or down) you should always look at the most recent sales to determine value.  It’s a big purchase for a client and they need an agent who will put in the time to make sure they don’t over pay.

I love studying the comps.

Some times they are easy.  Like in a newer neighborhood developed by a mass builder.  Most of the houses are the same age and in the same condition.  It doesn’t take long to come up with a pretty accurate value.

It gets harder when the house is more unique.  Like an older house where every house in the neighborhood has a different floor plan,  and all are in varying conditions.

I think the most challenging ones are rural properties.  I LOVE rural properties.  Part of my reason for enjoying them so much is purely selfish.  I love driving out in the country so it is always a treat just to get there.  It is also interesting to see these properties, whether listing them or working with a buyer.  No two are alike.  Also, there is a relationship between the house and the land that must work.  I often have buyers who like the house but don’t like the land, and the other way around.  That is why I always try to depict both when I list rural properties.  I know that is important to the buyers.

Here are some of the things I look for when determining value for rural properties:

  1.  Location-The closer to the subject house the better.  This can be a challenge because there are fewer properties and fewer sales in the country.
  2. Age-You often find a wide range of ages in the country, which also means a wide range of floor plan types.  If I have a mid 90s house that I am trying to find the value on,  I try not to use a brand new house or one from the 1960s even if they are next door.
  3. Lot size-The closer in size to the subject house the better.  If I’m trying to find the value of a house on 1 acre, I might use houses on up to 3 acres.  If I have a 5 acre lot, I might compare up to 10 acres.  Most 1-10 acre buyers just want to be in the country.  Most 1-3 acre buyers just want a big yard.  Some 5-10 acre buyers have horses or need that space.  Over 10 acres and you are often looking at somebody who wants a working farm.

A good rule of thumb when using recent sales to determine the value of a property is the fewer adjustments you need to make, the more accurate the value will be.  Looking at the comps is really studying buyer behavior.  You are saying a buyer paid this much for this house, and the house I’m trying to figure out the value on is 300 square feet bigger, so it should sell for the same price PLUS the value of that extra 300 square feet.  That is why beginning with the best 3-4 houses is key to ending with an accurate value.

I showed a house last night to some friends of mine.  They asked what I thought it was worth.  I pretty much told them everything you have just read.  When I went to look at the recent sales this morning, I found 3 houses on the same street that had sold within the past year that were all on similar sized lots, and were similar sized houses that were all built around the same time.

Sometimes comping rural properties can be easy too I guess.