In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home's attractiveness besides lowering the asking price. If you're looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.
Click Here to Read: 6 Tips To Sell Your Home Faster...
Showing posts with label Sellers. Show all posts
Showing posts with label Sellers. Show all posts
Casual Chitchat Can Cost Money On Real Estate Deals
The agent in Cory Brewer's Mercer Island, Wash., RE/MAX office received an offer that was far below his client's asking price. But before the contract could be presented to the seller, the would-be buyers posted on their Facebook page how badly they wanted the house and how much they really were willing to pay.
Oops! Bad move. The seller saw the posting and countered at the higher price. The buyers accepted because they loved the place that much, and the deal closed a few weeks later.
The moral to this little tale: When it comes to something you would rather the other side not know, treat them like the enemy and keep your yap shut. Or, as Brewer advises, "Don't talk publicly about what's in your real estate contract, at least not until afterward. You never know when something you say might come back to bite you."
Click Here to Read: Casual Chitchat Can Cost Money On Real Estate Deals...
Oops! Bad move. The seller saw the posting and countered at the higher price. The buyers accepted because they loved the place that much, and the deal closed a few weeks later.
The moral to this little tale: When it comes to something you would rather the other side not know, treat them like the enemy and keep your yap shut. Or, as Brewer advises, "Don't talk publicly about what's in your real estate contract, at least not until afterward. You never know when something you say might come back to bite you."
Click Here to Read: Casual Chitchat Can Cost Money On Real Estate Deals...
Boost Your Curb Appeal During Difficult Months
Now that virtually all the winter’s snow has melted and it’s easier to navigate the streets, let’s consider something calculated to get people slamming on the brakes:
Curb appeal, that special something that makes prospective buyers stop for a better look at a house for sale.
In normal market times, the National Association of Realtors says, 49 percent of buying decisions are based on curb appeal.
Click Here to Read: Boost Your Curb Appeal During Difficult Months...
Curb appeal, that special something that makes prospective buyers stop for a better look at a house for sale.
In normal market times, the National Association of Realtors says, 49 percent of buying decisions are based on curb appeal.
Click Here to Read: Boost Your Curb Appeal During Difficult Months...
Report: Gender Matters When Buying A Home
Are homebuyers looking for brand-new buys? Or, are fixer-uppers the way to go? According to the 2011 TD Canada Trust Home Buyers Report that decision may depend on your gender.
Mobile Mortgage Specialist Barry Rathburn says some people just don't want to take a chance. "I found women tend to be more conservative than men... less willing to take a risk. Most men are renovators at heart; they can see where they can change things to make a lifestyle situation out of the house."
Click Here: Report: Gender Matters When Buying A Home...
Mobile Mortgage Specialist Barry Rathburn says some people just don't want to take a chance. "I found women tend to be more conservative than men... less willing to take a risk. Most men are renovators at heart; they can see where they can change things to make a lifestyle situation out of the house."
Click Here: Report: Gender Matters When Buying A Home...
How to Get Homes Sold in this Buyer’s Market
You know it’s a buyer’s market. But you really need to sell your home now. Here are six tips to get homes sold even in today’s real estate market:
Click Here to Read: How to Get Homes Sold in this Buyer’s Market...
Click Here to Read: How to Get Homes Sold in this Buyer’s Market...
Buying An "As Is" Home Is Sometimes Not Clear-Cut
Buyers who are looking at listings sometimes see a home listed as “as is.” That term seems pretty obvious, but oftentimes buyers and sellers are not on the same page as to what "as is" means.
"Generally, 'as is' means you are purchasing that property in its present condition with conditions," says Phyllis J. Pezenik, the vice president and managing director of DJK Residential.
So buyers and sellers should come to an agreement on what to expect, according to Pezenik. First, both sides need to know what things are expected to be included, unless otherwise stated.
Click Here to Read: Buying An "As Is" Home Is Sometimes Not Clear-Cut...
"Generally, 'as is' means you are purchasing that property in its present condition with conditions," says Phyllis J. Pezenik, the vice president and managing director of DJK Residential.
So buyers and sellers should come to an agreement on what to expect, according to Pezenik. First, both sides need to know what things are expected to be included, unless otherwise stated.
Click Here to Read: Buying An "As Is" Home Is Sometimes Not Clear-Cut...
You’d Better Pay Attention to the Short Sale Settlement Statement
In the past, the average real estate agent didn’t spend too much time scrutinizing the estimated closing statements. Usually, that task would be left to escrow officers, title officers or lawyers. With short sales being the new normal, scrutiny of these statements in the early stages of a short sale transaction is vital.
Why? Well . . . the banks request the settlement statement as part of the short sale package. The short sale lien holders want to see their bottom line. How much money are they going to net? How many cents on the dollar will they be forgiving?
Click Here to Read: You’d Better Pay Attention to the Short Sale Settlement Statement...
Why? Well . . . the banks request the settlement statement as part of the short sale package. The short sale lien holders want to see their bottom line. How much money are they going to net? How many cents on the dollar will they be forgiving?
Click Here to Read: You’d Better Pay Attention to the Short Sale Settlement Statement...
Garage For Sale — Oh, And With A House Attached
Molly and Stan Hyman are hitting the road and they've put their garage up for sale.
And by the way, their six-car garage comes with a house.
The Burbank couple are automobile enthusiasts and restorers who in 1995 custom-built their garage/house to give themselves room to rebuild and showcase vehicles.
Click Here to Read: Garage For Sale — Oh, And With A House Attached...
And by the way, their six-car garage comes with a house.
The Burbank couple are automobile enthusiasts and restorers who in 1995 custom-built their garage/house to give themselves room to rebuild and showcase vehicles.
Click Here to Read: Garage For Sale — Oh, And With A House Attached...
How To Do Short Sales: The Benefits For Everyone Involved
Learning how to do short sales in the current changing marketplace is really challenging to keep up with, it’s an essential thing to do nowadays. If you’re able to disconnect and discover how to do short sales properly from individuals who can verify for you that they know what they’re speaking about then you’re going to be able to wrap your brain around the concept much easier.
You need to know the best way to be successful in this particular market to really make it and virtually all Real Estate Agents haven’t been educated the proper way. Most Realtors still don’t understand how to do them and in addition they say that they would rather not learn because of how hard they heard they are. Crazy huh? So… Precisely how to complete them the correct way without having to be scammed by fake authorities and worthless real estate “experts” who’re asking for you for precisely the same outdated re-written information.
Click Here to Read: How To Do Short Sales: The Benefits For Everyone Involved...
You need to know the best way to be successful in this particular market to really make it and virtually all Real Estate Agents haven’t been educated the proper way. Most Realtors still don’t understand how to do them and in addition they say that they would rather not learn because of how hard they heard they are. Crazy huh? So… Precisely how to complete them the correct way without having to be scammed by fake authorities and worthless real estate “experts” who’re asking for you for precisely the same outdated re-written information.
Click Here to Read: How To Do Short Sales: The Benefits For Everyone Involved...
Cost-Effective Ways To Boost Curb Appeal
Anyone who's ever bought, sold or even just looked at a house can tell you first impressions matter. A house can be filled to the rafters with luxury touches, but if it lacks curb appeal, few potential buyers will ever step in the door to see what's inside.
With real estate sales still sluggish across the country, curb appeal is taking on a new meaning for many homeowners. While an attractive home exterior can still boost potential resale value, homeowners are also looking at curb appeal as a way to enhance the enjoyment of their homes. Giving the exterior of their home a facelift not only makes the house stand out on the street, it also allows homeowners to "move up" without the expense of remodeling or moving.
Click Here to Read: Cost-Effective Ways To Boost Curb Appeal...
With real estate sales still sluggish across the country, curb appeal is taking on a new meaning for many homeowners. While an attractive home exterior can still boost potential resale value, homeowners are also looking at curb appeal as a way to enhance the enjoyment of their homes. Giving the exterior of their home a facelift not only makes the house stand out on the street, it also allows homeowners to "move up" without the expense of remodeling or moving.
Click Here to Read: Cost-Effective Ways To Boost Curb Appeal...
Realtor, Home Seller Baffled When Bank Rejects Its Own Offer
Stacy Baker fought for two years to sell her father’s house and to keep it from being auctioned off, but lost the fight even after her real estate agent said an offer was made to the bank that met its own conditions.
Baker’s father was 61 when he succumbed to complications from a heart transplant, and she said her father probably realized “it was the wrong decision after he bought it.”
Click Here to Read: Realtor, Home Seller Baffled When Bank Rejects Its Own Offer...
Baker’s father was 61 when he succumbed to complications from a heart transplant, and she said her father probably realized “it was the wrong decision after he bought it.”
Click Here to Read: Realtor, Home Seller Baffled When Bank Rejects Its Own Offer...
Getting The Job Done: Home Stager Prepares For The Sale
With so many homes for sale, sellers are looking to find any advantage they can to set their home apart from their neighbors. Home-staging businesses, assisted by numerous home-staging and decorating television shows, have sprouted to fill the need.
Carmen Wilber of DeLand started Style Fusion Home Staging last summer with her husband, Michael, helping her market the company. She is an accredited staging professional by the International Association of Home Staging Professionals.
Click Here to Read: Getting The Job Done: Home Stager Prepares For The Sale...
Carmen Wilber of DeLand started Style Fusion Home Staging last summer with her husband, Michael, helping her market the company. She is an accredited staging professional by the International Association of Home Staging Professionals.
Click Here to Read: Getting The Job Done: Home Stager Prepares For The Sale...
Housing Recovery Stalls
A new bout of declining home prices is threatening to hamper the U.S. recovery, just as consumers and the overall economy have been showing signs of healing.
Home prices across 20 major metropolitan areas fell 1.3% in October from September, the third straight month-over-month drop, according to the S&P/Case-Shiller home-price index released Tuesday. Many economists expect the declines to continue into at least next spring, erasing most of the gains made since prices bottomed out in early 2009.
Click Here to Read: Housing Recovery Stalls...
Home prices across 20 major metropolitan areas fell 1.3% in October from September, the third straight month-over-month drop, according to the S&P/Case-Shiller home-price index released Tuesday. Many economists expect the declines to continue into at least next spring, erasing most of the gains made since prices bottomed out in early 2009.
Click Here to Read: Housing Recovery Stalls...
Wednesday, December 29, 2010
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Short Sales
Today's Real Estate Market Calls For Dire Divorce Decisions
Sarah Bandy always knows something is up when she helps a couple try to sell their home, but hears back from only one spouse.
"They don’t tell us in the beginning," said Bandy, a real estate agent who brokers deals for luxury homes in Colts Neck. But lately, when she presents clients with a home valuation report, the answer is almost always, "Oh, we can’t do that. It’s too low."
"Then they end up confessing, especially the wife," Bandy said.
Click Here to Continue Reading: Today's Real Estate Market Calls For Dire Divorce Decisions...
"They don’t tell us in the beginning," said Bandy, a real estate agent who brokers deals for luxury homes in Colts Neck. But lately, when she presents clients with a home valuation report, the answer is almost always, "Oh, we can’t do that. It’s too low."
"Then they end up confessing, especially the wife," Bandy said.
Click Here to Continue Reading: Today's Real Estate Market Calls For Dire Divorce Decisions...
The New Rules Of Pricing Your House For Sale
When the housing figures are released each month, many consumers are faced with a profusion of confusion. Existing home sales are up slightly - no, they're down again. Median prices improved slightly over a year ago - wait, that was last month. New home sales dropped sharply after the federal tax credit expired, but they're up again - for now.
Well, one thing's for sure: It's a whole new game of "The Price is Right." Long gone are the halcyon days of setting your asking price by looking at comparable home sales over the last year - and adding 10 to 20 percent to those prices.
Click Here to Read: The New Rules Of Pricing Your House For Sale...
Well, one thing's for sure: It's a whole new game of "The Price is Right." Long gone are the halcyon days of setting your asking price by looking at comparable home sales over the last year - and adding 10 to 20 percent to those prices.
Click Here to Read: The New Rules Of Pricing Your House For Sale...
Real Estate: Sellers Attached To Their Homes Often Don't Get Their Asking Price
On top of an overall plunge in prices, homes in Tucson usually sell for less than what their owners are hoping to get for them.
If a family has an emotional attachment to a home, it's even less likely to sell for what the owner thinks it's worth, says Stephanie Friend, a local agent with ZipRealty Inc.
That's often the case for those selling homes in central and northeast Tucson. Homes there tend to sell for about 92 percent of the asking price, data from ZipRealty shows. ZipRealty uses statistics from local Multiple Listing Services to compare the asking price and selling price of homes in certain zip codes.
Homes on Tucson's south side are selling closest to their asking price, ZipRealty says.
In parts of town with higher foreclosure rates, homes are more likely to be owned by the bank and priced to move, Friend says. In older, more established communities in midtown and in the Catalina Foothills, sellers expect to get more cash from their homes.
"The sellers there anticipate a higher return on their home," Friend says. "They're more owner-occupied and they have more of an attachment to the house."
Click to read here: Real Estate: Sellers Attached To Their Homes Often Don't Get Their Asking Price...
If a family has an emotional attachment to a home, it's even less likely to sell for what the owner thinks it's worth, says Stephanie Friend, a local agent with ZipRealty Inc.
That's often the case for those selling homes in central and northeast Tucson. Homes there tend to sell for about 92 percent of the asking price, data from ZipRealty shows. ZipRealty uses statistics from local Multiple Listing Services to compare the asking price and selling price of homes in certain zip codes.
Homes on Tucson's south side are selling closest to their asking price, ZipRealty says.
In parts of town with higher foreclosure rates, homes are more likely to be owned by the bank and priced to move, Friend says. In older, more established communities in midtown and in the Catalina Foothills, sellers expect to get more cash from their homes.
"The sellers there anticipate a higher return on their home," Friend says. "They're more owner-occupied and they have more of an attachment to the house."
Click to read here: Real Estate: Sellers Attached To Their Homes Often Don't Get Their Asking Price...
How Long Does Foreclosure Take?
Since the housing market fell apart, the time people spend in foreclosure has gone way up.
As the chart below shows, "judicial foreclosures" — those in states where foreclosures go through the courts — now take an average of 271 days, or about nine months.
Judicial foreclosures are the ones at the center of the "robo-signer" foreclosure mess. So as banks change their practices in response to the scandal, we may see the time to foreclosure rise even more in those states.
Click Here to Read: How Long Does Foreclosure Take?...
As the chart below shows, "judicial foreclosures" — those in states where foreclosures go through the courts — now take an average of 271 days, or about nine months.
Judicial foreclosures are the ones at the center of the "robo-signer" foreclosure mess. So as banks change their practices in response to the scandal, we may see the time to foreclosure rise even more in those states.
Click Here to Read: How Long Does Foreclosure Take?...
Is There a New 3.8% Tax on House Sales?
We have received many questions about a possible 3.8% tax which will be put on home sales beginning in 2013. We want to do our best to clarify this situation for everyone. We are not accountants and give you this information just as a simple answer to the misconception. Understand that, when it comes to IRS regulations, you should check with your accountant for the most accurate and up-to-date information.
Click Here to Read: Is There a New 3.8% Tax on House Sales?...
Top Five Reasons To Purchase A Home Now
Buyers still waiting for home prices to scrape rock bottom (hint: they will never return to1953 levels) or interest rates to hit zero (I know, it feels like they're headed there) might want to consider that conditions for buying a home are better today than at any time in recent memory.
The following are five reasons to consider a home purchase now:
1. Bargains are abundant, and buyers hold the cards. Home prices have dropped 30% since the peak, and in some states, such as Arizona and Florida, we're looking at the steepest price drops in recent history. The median price nationally for an existing home was $178,600 in August, according to the National Association of Realtors. With the expiration of the federal tax credits for home purchases, competition for low-cost homes has eased considerably.
Click Here to Read: Top Five Reasons To Purchase A Home Now...
The following are five reasons to consider a home purchase now:
1. Bargains are abundant, and buyers hold the cards. Home prices have dropped 30% since the peak, and in some states, such as Arizona and Florida, we're looking at the steepest price drops in recent history. The median price nationally for an existing home was $178,600 in August, according to the National Association of Realtors. With the expiration of the federal tax credits for home purchases, competition for low-cost homes has eased considerably.
Click Here to Read: Top Five Reasons To Purchase A Home Now...
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