Katie Zarpas, Author at Katie Zarpas Group

How Walk Scores Can Improve Your Real Estate Listings

June 22, 2020 By Katie Zarpas

More real estate agents and home sellers are displaying the walk score of their property as a way to promote it to prospective buyers. The fact is, homes that have a higher walk score typically sell for more money than homes that are considered car-dependent. In addition to the walk score, similar metrics such as transit score, bike score, and crime grade are also good indicators of the area of a home.

It is helpful to understand what a walk score is and how home sellers can use it to their advantage within their real estate listing. Displaying the walk score in your real estate listing is a great way to separate your home from other similar properties, potentially allowing for a faster and more valuable sale.

What Is a Walk Score?

A walk score is a patented system by Walk Score that measures how walkable an address is. The higher the walk score a home receives, the easier it is to carry out daily errands and activities on foot. A lower walk score indicates more errands require the use of a car.

The main factor of a walk score is the proximity to nearby amenities. Amenities that are within a five-minute walk receive the highest possible walk score, and the score decreases based on how far away the closest amenities are. Amenities that are outside a 30-minute walk radius do not factor into the score.

Walk scores are given a final grade between 0 to 100. There are different categories, which include:

Walker’s Paradise (90-100) – Daily errands do not require a car
Very Walkable (70-89) – Most errands do not require a car
Somewhat walkable (50-69) – Some errands require a car
Car-dependent (25-49) – Most errands require a car
Car-dependent (0-24) – Almost all errands require a car

Each address has its own walk score, although it is not uncommon to see the average walk score for cities or neighborhoods advertised as well.

How They Affect Real Estate Listings

Redfin and other listing services have discovered that homes with higher walk scores are more valuable than similar properties with lower walk scores. Many home buyers appreciate the idea of purchasing a home that is an area where nearby amenities are more accessible by walking or biking. The air is cleaner and the neighborhood is often safer. Areas where traveling by car is required are often less desirable.

For homes that have nearby amenities that may attract prospective buyers, providing the walk score and other metrics into the real estate listing can help buyers feel better about a purchase, and it can add a sense of transparency to the listing.

Higher Convenience

The most notable way in which walk scores can improve your real estate listings is that they highlight how convenient the location of a property is. Many properties that sit on the market for longer than expected are not marketed in an ideal fashion. Specifically, the nearby attractions and amenities are not highlighted well enough in many instances.

By displaying the walk score and discussing the amenities that are within walking distance, home sellers can help prospective buyers imagine what their daily routine might look like and how convenient it can be while living in the home.

Promotes Neighborhood Safety

In addition to the walk score, the company Walk Score also provides a crime grade using their patented calculation system. The crime grade indicates the risk of crime and violence within a neighborhood.

The system draws data directly from police departments, and they provide grades to addresses based on the data. You can find the neighborhood grades on Walk Score’s website. The grade factors in per capita crime rate and scores are separated into four different categories, which are:

A – Safest 25% of neighborhoods
B – Safer than the average neighborhood
C – Average crime area
D – Least safe 10% of neighborhoods

If your property is in a safe neighborhood, then displaying the crime grade as well as the various other Walk Score metrics is a great way to make more prospective buyers feel more secure purchasing the home.

Improve Your Real Estate Listings with the Katie Zarpas Group

A well-crafted real estate listing is essential to selling your home fast and for optimal value. Oftentimes, the longer a home sits on the market the more challenging it is to sell. Our team is here to help you improve your real estate listings and sell them.

The Katie Zarpas Group can help you further understand the benefits of walk scores and ultimately improve your real estate listing. We have a skilled and experienced team of real estate professionals, who understand the real estate market in the Virginia Beach and Hampton area. We encourage you to reach out to us today by phone at 757-685-4400, or by scheduling an appointment online for more information on how we can help you through the home selling process.

What Is a Walk Score In Real Estate Listings?

June 18, 2020 By Katie Zarpas

A walk score in real estate listings simply measures how walkable an address is. In other words, the score indicates how easy it is to accomplish common daily tasks by walking from your home address rather than driving a car or taking a bus. The score is calculated by using an advanced patented methodology by Walk Score.

A walk score is relevant to home sellers because a favorable walk score can make the home more desirable to prospective buyers. In fact, according to Redfin, one point in a walk score is worth $3,250 in home value. Walk scores are becoming increasingly advertised in real estate listings, and highlighting the ability to access local amenities on foot is a great way to make your home more appealing to prospective buyers.

Walkable Place to Live

The purpose of a walk score is to highlight how walkable an address is. There are various factors that go into a walk score. Most notably, the amount of nearby amenities and attractions is a key factor.

Walk Score also produces a transit score and bike score as well. While it can be beneficial to highlight these scores in a real estate listing, many prospective buyers are most interested in how walkable their address is. As mentioned, there is a fair amount of evidence to support that more walkable areas sell faster and for better value than otherwise comparable properties that are not as walkable.

Types of Walk Scores

Walk Score uses a point system, providing the maximum amount of points to amenities that are within a 5-mile walk and deducting points the farther away amenities are. Amenities outside of a 30-minute walk radius are not awarded any points. Each address lands on a scale between 0 and 100. The higher the score the more walkable the address is. The system breaks scores into five categories, which are:

Walker’s Paradise
Very Walkable
Somewhat Walkable
Car Dependent

Walker’s paradise indicates that daily errands do not require a car. Car dependence is broken into two categories, indicating either most errands require a vehicle or all errands require a vehicle. Now, let’s take a closer look at what each category indicates.

Walker’s Paradise

Walker’s paradise indicates the best possible rating for a walk score in real estate listings. To fall into this category, properties must fall between a score of 90-100. Very few properties fall in this category, which makes the ones that do incredibly valuable.

For homes that are considered a walker’s paradise according to its walk score, the home seller should most certainly advertise the huge advantage the property offers. A few nationwide examples of properties that might be considered a walker’s paradise include homes in the heart of large cities such as New York City and San Francisco.

Very Walkable

Very walkable refers to a walk score that falls between 70-89. This indicates that the home is very close to many amenities and most errands can be completed on foot. These properties tend to sell for far more than homes that are considered car-dependent.

Most listing agents find it beneficial to list a very walkable walk score in real estate listings. It is particularly attractive to prospective buyers who want the luxury of being in busier areas but would rather not battle the traffic each day.

Somewhat Walkable

Somewhat walkable indicates an address that allows for some errands to be accomplished on foot, but many require other methods of transportation. The score for a somewhat walkable home is between 50 and 69.

A property that has a score that is somewhat walkable is still more desirable than comparable properties that are in a more car-dependent location in many instances. Subsequently, it could be beneficial to highlight the nearby amenities along with the walk score of a somewhat walkable property in the real estate listing.

Car Dependent

Car dependent is just that — a location that requires the resident to use a car. Walk Score separates the “car-dependent” category into two categories. The more favorable one is for homes that have a walk score between 25 and 49. This indicates there are nearby amenities, but the resident will most likely not have a convenient location to most of the places they will regularly want to go.

The second category is for homes that have a walk score between 0 and 25. This indicates that there are very few if any, amenities that are within ideal walking distance (30 minutes or less).

Work with the Katie Zarpas Group

The Katie Zarpas Group helps home sellers in the Virginia Beach and Hampton area. If you are interested in learning more about what a walk score in real estate listings means and how it can be beneficial, or if you need assistance with your real estate listing in general, then reach out to our team today for more information.

How to Create a Strong Real Estate Listing

June 11, 2020 By Katie Zarpas

The way you advertise the home you intend to sell in your real estate listing can have an impact on how quickly the home sells. While a listing that is poorly advertised and not created to attract the most likely buyers may lead to the home sitting on the market for months, if not more than a year, a strong listing can speed up the process.

There are certain things home sellers can do to make their real estate listing more appealing to prospective buyers. By doing the proper research in advance of posting the listing, arranging the information listed in a strategic manner, putting thought and research into the budget, and utilizing social media and other advertisement methods to ensure the listing is seen, one can significantly increase the chance of selling the home quickly.

Tips to Create Strong Listings

The key to a strong real estate listing is to put time and effort into the process. Many real estate agents and homeowners who intend to sell their homes make the mistake of listing the things they find best about the home. However, this may not be the same as what most prospective buyers find to be the most interesting.

Subsequently, home sellers should research the real estate market within their area, consider investing in an advertisement to improve the visibility of the listing, and utilize social media networks.

Do Your Research

Research is essential when crafting the perfect real estate listing. It is important for home sellers to know the market in their area. Each location is unique, and what is valuable to a home buyer in Florida may not be the same for someone in Virginia.

It is also important to know the type of people who are most likely to respond to your real estate listing. For example, a listing for a single-family home that is in a district that has a good school system is likely to attract families that are settled down. In this case, for example, it is a good idea to highlight the great elementary, middle, and high schools in the area. Illegal in Real Estate Association verbiage-fair housing rules. Family cannot use in advertising protected class, and you cannot say if a school district is good or not. Please use something else as an example about the house

If your listing is in a more congested area within the city, you may want to highlight nightlife opportunities and the thriving local economy.

Plan Ahead for Budget

Another major factor in determining how to create a strong real estate listing is the financial side of things. Of course, the first thing to determine is how much to list your home for in the listing. This is where your research works to your advantage. After researching how much comparable properties are worth in your area, you should have an idea of how much prospective buyers will be willing to pay for your home.

The second thing to consider is how much you are willing to spend to get buyers to see your listing. Remember, an investment can yield a huge return on investment if your home sells much faster and for more money as a result. In determining how much to set aside for advertising your listing, consider how you want to advertise, which may include social media advertisements (see below), Google advertisements, and offline ads.

Utilize Social Media

The way in which home buyers find listings is changing. This is due in large part to our society transitioning to more of a digital age. Many, if not most, buyers will have a social media account. Even buyers who do not have a personal social media account may use social media for their own business. Home sellers can use social media to their advantage to drive more traffic to their online real estate listing. Utilizing any or all of these social media platforms for listings can help:

Facebook
Twitter
Instagram
LinkedIn

There are several different ways in which home sellers can utilize social media. As mentioned, social media advertisements can be highly effective. Home sellers can even target their ads to show their listing to demographics they feel are most likely to purchase the home. Also, posting the listing on your personal social media account can be helpful. If you are a real estate agent or broker, then using your business social media accounts is encouraged also.

Hire a Professional Listing Agent with The Katie Zarpas Group

If you are selling a home and are not sure how to craft your real estate listing and find prospective buyers, or if you simply do not have the time to invest in selling your home fast, then get in touch with The Katie Zarpas Group. We can help you create a strong real estate listing and sell your home as fast as possible. Call by phone at 757-685-4400, or schedule an appointment online to talk with our talented team!

5 Benefits of Working With a Listing Agent

May 21, 2020 By Katie Zarpas

Anyone who intends to sell their home should consider the benefits of working with a listing agent. Many do not have time to learn all that they need to know about the process of selling a home, and choosing a reliable listing agent can save the home seller stress, time, and money. The following is an overview of the more notable benefits of working with a listing agent.

Benefits of a Listing Agent

A listing agent works on behalf of the home seller to ensure they get the most for their home as possible and the home sells as quickly as possible. They also make the process easier for the home seller by handling the negotiations, ensuring rules and regulations are followed and assisting with the paperwork.

Professional Negotiator

One of the hardest and least desirable parts of the home selling process is negotiating with prospective buyers. Like the seller, the home buyer is also trying to secure the best possible price for the home. If they have their own broker or are working with a real estate agency, then they are likely to try and negotiate a lower price.

A listing agent can work on behalf of the seller to ensure they get the most for the home as possible. They negotiate with the buyer and can make them aware of comparable properties that have sold for similar prices, while also highlighting all of the reasons your home is worth the price that it is listed for.

Insider Knowledge of Market

A listing agent understands the local real estate market. This means they know how much comparable properties have recently sold for and are currently listed for, the current status of mortgage rates, and much more. They use this information to help home sellers know just how much they can get for their homes.

This is important as a home that is priced too high may take a long time to sell, whereas a home that is priced too low will not result in the most advantageous return on investment. Also, listing agents have an extensive contact list within the industry, which helps them find prospective buyers much faster than most homeowners can.

Easier to Follow Rules and Regulations

There are real estate rules and regulations that sellers must follow when selling their home. It often requires professional knowledge of the real estate guidelines to ensure all legalities are followed. Home sellers who choose not to work with a listing agent are burdened with the task of learning all of the rules and regulations and ensuring they are properly followed. This can take up a significant amount of time.

Fortunately, there is a better way. Home sellers do not have to become experts if they simply hire a professional real estate listing agent. The listing agent can ensure all rules and regulations are followed and take care of all of the time-consuming paperwork throughout the selling and closing process.

Helps to Better Understand the Process

Unless you have been through the home selling process on your own before, then you are likely not entirely familiar with all of the steps in the process. Home sellers who attempt to make the journey on their own often find out the hard way that selling a home is not an easy and clean process. Instead, there are many steps, lots of paperwork, and lots of negotiations and conversations.

A listing agent takes care of all of the dirty work and allows the home seller to deal with as little of the stress as possible. This also ensures the process goes smoothly and does not take longer than necessary to close the deal.

Saves Time and Money

When determining whether or not a listing agent is needed, home sellers should consider how much time they can dedicate to selling their home. As mentioned, learning all of the rules and regulations involved with real estate can take time. If you add in the amount of time it takes to negotiate and communicate with the range of other professionals involved with the process, the process can cut into time with your family and even call you away from work.

Also, many home sellers find they are able to get a higher return on their investment by hiring a listing agent rather than attempting to list and sell their home by themselves. This is because listing agents understand how much to list a home for, how to make sure it sells as quickly as possible, and how to professionally negotiate with the buyer.

Talk to the Real Estate Listings Experts at Katie Zarpas

If you are interested in learning more about how a listing agent can help you through the home selling process, then get in touch with our team today. Schedule an appointment and we are glad to answer your questions and help you decide if working with our listing agent is the right choice for you.

Why You Should Meet Your Future Neighbors

May 18, 2020 By Katie Zarpas

No matter what neighborhood you choose to live in, it’s important to meet at least one neighbor. Perhaps you have heard this piece of advice on certain home improvement television shows. You can likely learn much more than you might imagine from just one conversation. According to a 2018 Pew Research Center survey, 57% of Americans claim they know just some of their neighbors, although only 26% say they know a majority of them. The poll also found people aged 65 and older are more likely to say they know their neighbors, and that higher-income Americans (those who earn $75,000 a year or more) are typically the most likely to hold frequent social gatherings with their neighbors.

If you build at least a basic rapport with your neighbors, you are bound to learn some facts about your neighborhood and how its landscape may evolve over the next few years. Some of these facts may end up surprising you.

Get the Inside Scoop Before Buying

Wouldn’t you wish to know as much information as possible about your desired home before purchasing it? You can do this by speaking to your potential neighbors before or after an open house.

You could learn about who the last owner was, what additions to the property were recently made, and whether the home or any other parts of the property were ever damaged from flooding or other disasters.

Starting on the Right Foot

First impressions often don’t simply matter in the workplace. They can make a major difference in your personal life as well. Therefore, try welcoming your new neighbors into your home as soon as possible and offering them all sorts of hors d’oeuvres and drinks. If they enjoyed meeting you, they could end up reciprocating the gesture.

Also, if you and your neighbors both have children, they may end up attending the same schools. Further down the line, they could babysit your kids or pets, assist you with home repairs or collect your mail while you are on vacation. The 2018 Pew Research survey also found that approximately two-thirds (66%) of Americans who have met at least some of their neighbors said they would feel comfortable requesting their neighbors keep a set of keys with them for emergencies. Of course, this figure varied by demographic factors like age and ethnicity. As the golden rule states, “Do unto others as you would have them do unto you.”

A neighbor can even become a valuable business connection in the future, whether they work in the same industry as you or not.

Ask About the Neighborhood

Aside from the quality of schools in the district, you can ask your neighbors about other aspects of the area. It’s also important to inquire how noisy the neighborhood can get, if the neighborhood is dog friendly, etc. Don’t neglect to conduct this research as soon as you can.

Find New Local Favorites

Adapting to a new location can be difficult, but one must ultimately learn to live in new spaces. Be sure to find your new favorite grocery store, pharmacy, restaurant, liquor store, and hardware store, among other essential businesses.

After identifying these places, you can move on to searching for your favorite beauty salons and spas, for example.

Start Your Dream Neighborhood Search with Katie Zarpas

Speak to the professionals at the Katie Zarpas Group in Virginia Beach to learn more about how developing a good relationship with your neighbors can be beneficial. Katie Zarpas worked in the film industry for years and acquired many valuable connections in that business before joining the luxury real estate world in 2005.

In her first year, Katie sold 28 homes and she has since earned several prestigious accolades, including the Hamptons Road Realtors Association’s Gold, Diamond, and Platinum awards. Katie assists with transactions in the surrounding areas, including Virginia Beach, Chesapeake, Portsmouth, Suffolk, and Norfolk. She is highly knowledgeable about real estate market trends, which means she can help you accurately estimate your desired home’s value and is always committed to putting her clients’ interests first.

Call the Katie Zarpas Group today at (757) 685-4400 or contact us online for more information about our work or to schedule an appointment.

Things to Consider When Buying a Second Home

May 7, 2020 By Katie Zarpas

Finally, your years of hard work is reaping rewards. You’ve managed your assets carefully and now you’ve reached a point in your life where you can seriously entertain buying a second home. Maybe it will be a vacation home for you and your family and become your retirement home if and when you do retire. Or perhaps it will be an investment property that you hold for a time. How should you go about making a good decision?

Things You Should Consider as You Search for Your Second Home

Buying a second home involves considerations that are a little different from buying a primary residence. Here are some important things to think about as you conduct your search:

How Well Do You Really Know the Area(s) You Have in Mind?

You may think you know an area well because you have been vacationing there for years. However, you may not know what the area is like during the off-season. In resort areas, many places close down during the off-season and your favorite places and services may be closed. Thoroughly research the area(s) you like. Look at the area from the perspective of a homeowner. Go online and learn about what the area has to offer to residents, check on the levels of crime, the health of the local economy, and average weather conditions at different times of the year. Talk to the locals about what it’s like to live there.

How Much Time Will You Spend at Your Second Home?

Consider how often you plan to be at your second home – will it be six months at a time? An entire season? Or just a few weeks scattered throughout the year? Holidays only? The amount of time you plan to spend there can be a deciding factor on how large or small your second home should be and where it should be located in proximity to the features that attract you to the area in the first place. If you’re thinking of buying your future retirement home, you will want to check into the quality of health care services in the area and the home’s convenience to services. On the other hand, if all you want is a weekend getaway, you should probably find something that you can drive to within a few hours of your primary residence.

How Far Away Will It Be from Your Primary Residence?

If you are thinking of buying a home located a long distance from your main residence, realize that you will likely visit it less often, and when you do, you will want to stay longer. If you will not be able to use it as much as you would like to, you should probably consider a smaller second home than you would if it was located closer to you.

Will You Ever Use the Second Home as a Vacation Rental Property?

You may not like the idea of renting your second home out to vacationers, but it can help offset the cost of ownership. If you think there is any chance of renting your home, you should factor that into your decision making as to the size of the home, its proximity to transportation and local attractions such as beaches, skiing, shopping, and so forth. In other words, you will want to make your home as attractive as you can to potential renters so that you can command the most rental income from it.

What Is the Resale Market Like in the Area?

Be sure to research the history of real estate sales in the area. You need to determine, before you make any offers on a home, if the property values fluctuate a lot. An area where the market is historically strong means you will be able to sell the property at some point in the future. You know you will be making a good investment there.

Will You Have a Property Manager to Handle the Maintenance?

Give serious consideration to the amount of maintenance the home will need and whether a property manager is available to handle it for you. If you decide to rent it out, make sure the property manager can handle that for you as well. Most importantly, make sure you factor in these maintenance expenses into your budget.

Do You Have a Real Estate Agent with Expertise in the Area?

It always makes sense to have a real estate agent who knows the area inside and out. This is especially important if you are new to the area or have little experience in owning a second home. A local real estate agent will help you get to know the market very quickly.

Contact the Katie Zarpas Group Today for more information

The experts at the Katie Zarpas Group have helped many people buy their second home. Schedule an appointment with them today to get started looking for the perfect second home.