What are the top three things buyers should prioritize when touring potential homes?
Location above anything. Architectural elements can be changed, but the location can’t. Be sure you love where your home is located: the surrounding area, the neighborhood, the commute to and from work and activities, etc. Can you truly afford it without working solely to afford your mortgage at the expense of your quality of life? I’d also prioritize a well-maintained home over one that has older systems but has had cosmetic updates. Cosmetics can be modified, but a home that has been well maintained will retain its value and be much less expensive over the years. And lastly, be flexible. I’d call it a win if a home had the majority of the ideal criteria. Rarely is a home truly perfect, so put the emphasis on the things that can’t be modified.
What advice would you give first-time homebuyers to help them make informed decisions?
As a first-time homebuyer, I very much felt like I was flying blind. Now, as a real estate broker myself, I want my own clients to feel like they are intimately involved and aware of every step in the process. The more they understand, the more informed their decision. I guess my advice would be to educate themselves as much as possible with the help of their real estate professional so that they are prepared. Things move quickly when you locate the right property and being informed can help lessen any overwhelm.
How can buyers spot red flags during the home-buying process?
I like to help people look past some of the more obvious elements, such as the floor plan or the yard, etc., to pay attention to how the home has been maintained. If a house has been updated inside, but shows lots of deferred maintenance outside or with respect to the systems, etc., there could be a lot of unexpected expenses that arise. Additionally, familiarizing oneself with the surrounding area can help immensely.
What makes a home in this market stand out?
A home that has been properly prepared for the market makes all the difference. Taking the time to declutter inside, tackle small repairs, freshen up paint, and exterior landscaping, are the basics. Homes that paint the full picture win the attention of the largest pool of buyers, so more and more I am employing a stager to bring in some great furniture or art if the home is vacant or if a home needs a little re-imagining. And realistic pricing!
For homeowners thinking of selling in the future, what are the smartest investments they can make in their home?
Keep up with maintenance!! It’s not all just cosmetic updates. Making sure the siding is in good repair, the systems are functioning well and are not on their last legs, the landscaping isn’t overgrown. A clean, bright, clutter-free, well-maintained home will always appeal to buyers.
How do you help buyers navigate such a competitive market?
I love to think about how to craft a strategic offer for my clients in an effort to put them in a strong position with a seller. This could involve much more than the purchase price. Having close relationships with my listing agent colleagues to learn what is important to their seller clients is the first place to start. Every transaction offers a unique set of circumstances and it is important to know what levers to pull to put your buyer ahead. Aside from the purchase price, elements like the home inspection, a seller rent back, or strong financing can be integral and each of those elements comes with a myriad of options on how to structure the offer. It’s like a puzzle sometimes and I love thinking about how to put that together for my clients in a creative way.
What’s been your most rewarding or memorable sale, and what made it special?
My most rewarding sales are those with clients who have overcome the odds. I had a client a few years back who lost out on 7 homes before we found the one they would eventually buy. The market was crazy and it was so disheartening for buyers. These clients had an uphill battle on so many levels: a home they needed to sell, a very limited budget, some very specific parameters due to their family structure, etc. After months of looking and offers that went nowhere, we found the perfect home with the right seller and listing agent and we finally got them the house. It felt triumphant in the end and it bonded me with that family forever.
In 2005, after nearly eight years as a local restaurateur, Grier Murphy pivoted and began her career in real estate. “I was newly married to my architect-builder husband and searching for my next career path,” she said. “We were looking for a home to renovate and sell, and through that process, I became infatuated with homes and discovered that real estate was the perfect blend of my love of space and design and my desire to connect with people and understand what home meant to them.”
After 20 years as a Realtor in the area, Murphy remains passionate about her career and Charlottesville itself. “I have so much pride for this town and I feel so honored to share all it has to offer with people who are new to the area or are trying out a new part of town,” she said. “The access to nature, the award-winning restaurants, the vibrant and diverse community, the university… There is really something for everyone!”
As a real estate broker, I want my clients to feel like they are intimately involved and aware of every step in the process.