I just had a thought! Since the dawn of time, I believe most humans have probably been very selfish and greedy and not thinking of anyone except their own personal well being! Well, nothing has really changed even today. All you have to do is just look around you. We have a world of debt in our country and around the globe. Very few countries no how to apportion their tax dollars in a fashion that benefits the masses. More important taxes keep rising and still without budgets that stay within a reasonable and comfortable range! Have governments around the globe gotten too large and bloated? The answer is yes, but we want more and more services but want to pay less and less for them. Would you take your garbage to the dump, let along have the time to do it? how about cleaning the street outside your home, ready and willing to clean it? Where would you get your clean water if it weren’t for our modern facilities? Where is the nearest body of clean water? Who has the time or wherewithal to manage and do all these things that we take for granted, that our federal and local governments provide?
Now, when it comes to housing we have to come to the realization, that there cannot be anymore handouts or simple no income check mortgages. They just do not work, not when some individuals and mortgage people changed figures, as was the case in the past, just to get a commitment for the purchasers, so a fee could be supposedly earned. This was during the hot market of the past! Banks were making fortunes, pushing money out the door to the masses with the blessing of the Federal Reserve and Wall St. Much money was made, but, look at what it has done to our system of free enterprise!! It is no longer a free enterprise capitalist system, but one that is controlled by a few at the top with money, who dictate what and how we should do things, who should or should not receive a mortgage. Many are just slaves to their jobs, just to make their mortgage and bills. But, at this point, I do not want everyone getting a mortgage that does not show the income, credit or debt/income ratios to warrant receiving a loan. Years ago we never had variable rate mortgages, only fixed. The industry got creative, just to get more people into the game and what a game it became!! They were throwing money to everyone on every corner, without worrying who could or would pay it back. Now we are at the opposite extreme, when the banks are looking at every little item on your credit, verifying income (no more stated income loans) and if your debt/income is more than 45%, you probably won’t earn that nod of approval by your bank. Lastly, if your credit is not close to 700, you may not get the loan, depending on your other variables, but you could pay more in interest if you are not in the top tier of credit worthy individuals. Yes, we have come a long way, but the greed is still here and our system needs tweaking and revamping to rid itself of the wasted dollars and unproductive individuals in our government. However, it has been a pork barrel for the last 335 years+ and I am fairly confident, that the Greed, smoke and mirrors will continue in the same fashion in the future. Do not blame Obama, since this has been happening way before he existed. The only difference, he took on many challenges and was told, “we have to spend our way out of a recession, as history had taught us. they accuse him of not spending enough; that is ridiculous to say the least.
I do not believe this is true any longer. Our debt is way past a comfortable safety zone. We need to reinvent ourselves, get re-educated, get back to basics, get off our butts and start doing something!!! Oh yeh, and lose some of our weight and get away from the TV, internet and go out and take a walk, move the body, exercise the body and brain, talk to your neighbor, get involved, fix things, invent something. Just Do It!!! (Sorry for the rant, but I was in the mood to do it!) Lastly, is the alternative of being a second or even a third world country in the cards; the future will be either the rebirth of our country or a rude awakening. What do you think? Appreciate your comments…..
Human Greed in the housing market and why we have to reform our thinking & our System
Posted in Buyers, Observations, Real Estate, Sellers, Uncategorized
Don't be your own realtor
Many home sellers, especially when the market is hot, figure they can save money and avoid real estate commissions by selling their own home without the assistance of a licensed real estate professional.
Although this method may appear a cost-cutting measure on the surface, those who attempt to sell their home and don’t have the training and knowledge that a real estate professional has, may be opening themselves up to more frustration, disappointment and possible legal entanglements than they ever dreamed about.
Because of today’s complex laws, conducting a home selling transaction can be a legal maze, and if things aren’t handled properly, a disgruntled buyer may be able to get his revenge in court. Also, with the million and one problems that most agents work with, getting the sale closed and the buyer through the loan process in a timely fashion will be worth the price of the commission alone.
Posted in Real Estate, Uncategorized
Need Help Selling?
An often overlooked source for the dollars to make a down payment on a new home is tax free gifts from wealthy relatives. Let’s say a young couple’s parents (grandparents, etc.) have built up a sizable estate during their lifetime and upon their deaths fully intend to leave a substantial inheritance to the couple. With careful planning, the parents or grandparents could give the couple part of the money now and, at the same time, possibly reduce overall estate taxes that may be due when they die.
Under current law, any individual can give a gift equal to $11,000 per child every year without paying any gift taxes. A married couple together can claim an annual gift tax exclusion totaling $22,000 per child a year. Any attorney, financial planner or related professional who specializes in estate planning and taxes can provide details about how to set up a gifting program that can benefit the benefactors as well as the recipients.
Feel free to browse our homes for sale section of our website.
Posted in Real Estate, Uncategorized
Preparing your House for Sale
In the current real estate market you must be cognizant of what is absolutely necessary in preparing your home for serious buyers who are still actively looking. In this changing environment, every potential qualified and capable purchaser must view your home as their home! They must visualize your castle as their castle and it is extremely important to de-personalize you home. If you have the following in your home you should remove and/or put them away:
1. Personal photos on you walls, shelves, of coffee table
2. Decorations or furniture that would make the buyers defocus from their vision of how they think you home should look, by their standards
3. Remove ALL CLUTTER from your home, basement, and/or yard that would send a signal to the buyer that you are ‘messy’ or disorganized
4. Pets and their accompanying smell that may not offend you but would the buyer
5. Do a thorough scrubbing, cleaning, dusting, vacuuming and whatever necessary to show the home at its best!
It is also important that you do the necessary scraping, caulking, & painting on the outside and inside. Caulk all windows and holes that will allow cold air into your home. Small holes are the main reason for loss of heat and allowing cold air into your house. Make sure gutters and leaders are in good shape. Have you inspected your roof lately, for broken or worn out shingles and cracked flashing. Have you chimney and fireplace been cleaned over the last few years? Any leaks by the chimney due to worn out flashing or necessary pointing of the bricks? Take a look at our houses for sale, which can give you an idea of how homes for sale are prepared.
Have you fertilized and seeded your lawn? You can still do it this winder in preparation of the spring; as long as the ground is workable. This will green up your property faster during the seasonable days of the winter and spring. Also, some seed might germinate as long as moisture is available. This will build rhizomes and tillers and a thicker lawn this spring; however, the best time to begin repair and build your lawn is the middle of August. (I happen to be an ex-landscape designer and E.P.A. Certified professional lawn-tree-shrub Applicator). When the ground is warm the seed will properly germinate faster and mature into a thicker healthier lawn, going into the following spring. You should also prune and trim back all trees and shrubs, especially, where windows are being blocked. Cut shrubbery below your windows. You can also deep root reed your trees and shrubs and spray your evergreens with an ant desiccant to minimize water loss and eliminate winter burn and scorching of the leaves. Patch any holes in your driveway through October and possibly November if warm enough.
In the inside of your home you should have a checklist and go through you home as if you are the purchaser. Is the paint clean and fresh? If you have wallpaper, is it secured properly to the walls? How is the wood trim? How are your floors? Carpeting? How is the toilet seat? Worn? Does your home have a great smell? Baking some cookies or bread will add a different warm and inviting freshness to the air. Some of the smallest improvement will save you money, headaches, and the possible loss of a sale or reduction in your selling price. When it snows are your walkways cleaned and de-iced. You wouldn’t want potential buyers to fall, hurt themselves, or open yourself up to a lawsuit and the potential loss of your sale! (By the way, when was the last time you checked your homeowner’s insurance policy? Do you have adequate coverage, umbrella coverage?)
In the current slower market, it will be imperative to pay for a pre-inspection by a certified engineer or home inspector. This will save you potentially thousands of dollars, headaches and loss of a sale! Know what is wrong and right with your home, before your buyer hires their inspector and then the surprises occur and the renegotiation of your sale price. (You will also have to deal with the next hurdle of the bank appraiser). They are being ever so conservative in appraising the value of your home; they represent the lending institution, not you. They have to protect their money and not over appraise, as has been down during the crazy hot days of the real estate boom! However, if your home needs a major facelift/renovation, it probably will not be necessary to do anything. In the present market, you will probably not get you money back and it will surely reduce the profit you will take with you the reason for this is that someone probably will knock down you home (assuming it is a buildable lot or a new home can be built upon the original foundation). In this situation you would be wasting you equity on a renovation. The land is where you value will lie, not the renovated home!
One last thought. IF you do not need the money from the sale to purchase your next home, what you might want to consider is renting your home out for 2 years (then it would be considered an investment property) and you could do a 1031 Exchange. More on that in a future article.
Have you hired a mover? Begun to pack your personal belongings? Have you given away those items that you will not be taking with you? This is very important not to leave for the last minute. Also make sure you fill out a change of address form for you post office 1-2 weeks in advance of you move. Hopefully the day of the closing you will have minimized your stress by doing these things in advance of the sale that I have suggested.
Posted in Real Estate, Uncategorized
Where are the Solutions???
I woke up today to CNN and again, saw the on going catastrophic event down in the Gulf. From the news reports this morning, the blowout point from the Deep Water Horizon location is spewing oil @ almost a million gallons per day (23,000 barrels per day-a barrel contains 42 gallons of oil) Obviously, BP’s very low estimate previously was 5000 barrels per day! It is a condition called “Not owning up to the truth of the impact of the reality of things” Did they really know the real loss of oil or was it a planned inaccurate guesstimate to keep people calm and minimize the worrying? I was contemplating the impact on the people, their livelyhoods, recreationial/vacation activities, the economy, the ecosystems, birds & their eggs/offspring & fish, clams, shrimp. We thought Katrina was bad? I believe, the people down in Gulf areas will have to endure a potential longrange catastrophy, that this country has never experienced, that will make Katrina look like a blip on the screen! Lastly, how damaging it will be for waterfront real estate and beaches there, around Florida and the potential for future long term damage going up along the East Coast of the U.S. With hurricane season beginning next week, will this increase or lessen the long term damage to our eco systems, eg. marsh areas, bird santuaries and fish with their newborn, recreational areas and the impact on our economy. Why may I ask were regulations never enacted to have an emergency blowout valve as part of the standard construction for any type of off shore drilling??? GREED, PAYOFFS AND ALL THE WORDS YOU CAN THINK OF TO DESCRIBE MAN’S INJUSTICE TO EACH OTHER, THE ENVIRONMENT AND THE WORLD WE ALL SHARE!! I am angry, very angry, but I do not know what can be done & where the solution will come from. Our form of democracy is a paradox between freedom and control; an excessive amount of either over-inflates things, dilutes the dollar or destabilizes the economy; the balancing act is the hardest thing to accomplish between government, big business and our people. Also, do we completely cut off immigration into our country, so certain jobs will not be filled, because we do not want to do them or allow anyone just to come in, obviously not, because of the terror threat, or create a balanced amount of legal emmigration into the U.S., but not to make it so difficult, that it takes 7 years to get your green card. However, I am not convinced that passing a law to enable police or any law enforcement agency to check your proof of citizenship, because what they think you should or shouldn’t look like (social profiling); however, Arizona has the most illegal entries into the U.S. than anyother state. We have to do more to secure our borders to minimize illegal crossings into the U.S. Last week 125 people from 47 countries were sworn in as new American Citizens & their families in NYC by judge Robert Allen Katzman, who led the ”Pledge of Allegiance” Lastly, how do we solve the problem of minority of current U.S. residents that turn against our country or even students that are being educated here to take the knowledge out of the country back to their potential terrorist country?
The impact on real estate from the economy, jobs and this new Gulf event will have some impact on the housing market, but in specific areas. The bottom line is that currently there is a pentup demand for housing around the country, from students entering the job market, others who are paying off their debt, living at home, because they cannot afford to move, the move-up market, who are afraid to pull the trigger yet, saving more money and many of the baby boomers, who are looking to either stay in their homes longer (Long Island) or are downsizing to accommodate a difficult financial lifestyle.
Things are tough, but I have seen a little ray of light at the end of the tunnel. The inevitable will be partially determined by how good or bad we feel about our overall personal situations and the country’s future plans going forward. We can all start by doing just one good deed a day, whether it is helping your family or someone else out. Start with a smile!
Posted in Real Estate, Uncategorized
TAX CREDIT EXTENSION UPDATE!!!
The home buyer credit, extended and expanded over the last 3 years is set to expire today, wed june 30th with Congress still unable to approve the extension as part of HR 4213 (see previous update below). However, recently released data for May 2010 shows worrying trends of sharply declining sales of existing and new homes. Further, inventory data and foreclosure activity have not shown any signs of improvement. All this suggests the expiration of the home buyer credit may have more of an impact than people thought.
This has prompted House members to take more action with the stalling of the HR 4213 bill in Congress (due to other provisions in it). As such a new bill – H.R 5623 – has been introduced and approved by the House (409-5) to extend the $8000/$6500 home buyer credit. It now goes to the Senate, where Senate Majority Leader Harry Reid, D-Nev., has sponsored a similar measure. Here is a summary of the bill:
H.R. 5623 – Homebuyers Assistance and Improvement Act of 2010. Among other items, this bill would extend the homebuyer tax credit of up to $8,000 for the purchase of a principal residence before October 1, 2010. The current benefits apply to cover buyers who enter into contracts before April 30 and close by June 30. This bill extends the closing date to September 30, 2010.
The bill would provide any home buyer who entered into a contract on a home by April 30, 2010, but has been unable to go to closing within the required 60 days, an additional 90 days to close and qualify for the credit. This provision is estimated to cost $140 million
The approval of this bill would be great news for many home buyers who signed a purchase agreement/contract prior to April 30th but are having difficulty closing before June 30th. One thing to clarify – this bill does not extend the deadline for home buyers to sign a contract for a home and hence qualify for the tax credit (still April 30th); rather it extends the deadline for closing the transaction, from June 30 to Sept.30.
The National Association of Realtors estimates that this new extension will help about 180,000 homebuyers who already signed purchase agreements and were likely to miss the Wednesday deadline.
I will continue to monitor the status of this bill′s approval through Congress and will update with new information. I encourage you to subscribe (free) via Email or RSS to get the latest updates.
EMAIL YOUR STATE SENATOR AND IMPLORE HIM/HER TO PASS THE MOST RECENT BILL TO EXTEND THE TAX CREDIT THRU SEPT 30TH, 2010. LASTLY, THIS SHOULD AID OUR ECONOMY BY HAVING THOSE WHO WILL POTENTIALLY SPEND MORE MONEY ON THEIR NEW PURCHASE FOR FURNITURE, APPLIANCES, PAINT, CONSTRUCTION, ETC.
ATTENTION: THE HOMEBUYER TAX CREDIT OF $8000 (NEW BUYER) OR $6500 (PREVIOUS OWNER) HAS BEEN EXTENDED AND MUST CLOSE BY SEPT 30, 2010 TO BE ELIGIBLE; AS LONG AS YOU HAD BEEN IN CONTRACT BY APRIL 30TH 2010
Posted in Real Estate, Uncategorized
TAX CREDIT PASSES CONGRESS!
fROM THE National Association of Realtors:
Last night, the Senate passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension. NAR members sent more than 250,000 letters to Members of Congress encouraging them to extend the program.
Additionally, Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.
Our Government Affairs team worked closely with Congressional leaders on both sides of the aisle to enact this important legislation.
NAR is still working on restoring the 502 single-family rural housing loan guarantee program. Language is included in H.R. 4899, the Emergency Supplemental Appropriations bill, that is currently in conference between the House and Senate. We expect the House to pass that bill shortly and are hopeful the Senate will do the same when they return the week of July 12. When that bill passes, the program will be restored through the end of the fiscal year.
For additional information on the tax credit extension, the flood insurance program and rural housing, please visit www.realtor.org/government_affairs
We appreciate your commitment and involvement on these important REALTOR® Party issues and appreciate your continued support.
Sincerely,
NAR Government Affairs and Community & Political Affairs Divisions
Posted in Real Estate, Uncategorized
THE OIL SPILL HAS BEEN CONTAINED, BUT HOW ABOUT OUR ECONOMY???
It now appears that the Deep Water Horizon Gulf oil spill has been contained, for now! I am not convinced that anyone really knows the long term affects of what has happened. However, if you google “Ten worst oil spills in the world” you will see this one was not the worst. To my surprise the environment had remarkably recovered in most instances; so I am more positive today, that the Gulf will recover too! Not sure how fast the jobs and real estate will… Real estate around the Gulf, especially on the coasts has been affected, on top of the economy, foreclosures, overbuilding of areas etc. But I believe, it all will come back, hopefully sooner and not later. There is that pent up demand for more housing now and over the next decade, so we will move forward…
We do need to push harder for alternative fuels like solar, wind, geo-thermal,natural gas-(exploration is necessary with its inherent risks), bio-fuel and yes, even oil exploration (with stricter regulation, with safety valves that work and even backup systems too, so blowouts of the wells do not occur.) The extra cost of the safety features on our wells far outway the cost and loss of the environment, jobs and money. I am not sure why BP doesn’t yet get it! This is not the first time they have had their problems! Don’t we usually learn from our past mistakes or is that just a cliche that we all use. This is our country and our water and our resources; OUR GOVERNMENT SHOULD MAKE SURE THE RIGHT METHODS AND EQUIPMENT IS USED FROM NOW ON TO PROTECT ALL OF US!
On the east coast we use an abundant amout of energy, oil, gas etc. to heat our homes in the winter and is one of our largest expenses. Alternatives would help reduce the costs of maintaining our homes, but at the same time, increase their values. Big Oil could help, but I am not sure they are really ready. Oil is so profitable for them, why should they switch to alternatives? Money makes the world go round and that is what it is all about! Unfortunately, people and their needs and wants come last! We can fight back and reduce our imports drastically, by changing our driving habits (smaller less energy consuming cars and riding bicycles and walking more-we are the most obese country-(65% are overweight) on the planet, time to get in shape), lowering our thermostats a few degrees (1 degree per week, til you get use to it), leaving the thermostate down to 55 degrees, when not home, (putting on an extra shirt & sweater on when home will do keep you warm for free!) will make a noticeable change in the amount of energy we use. Also, our rail system needs a huge upgrade to a highspeed system. China, is now numer one in the world in highspeed rail and is constructing at a feverish rate, but Brazil, Russia, and others are building their highspeed rails are are ahead of the U.S.; we are dead last in the industrialized and developing countries. We do have construction proceeding in California, Florida and other states and grants will be given out to 31 states to move our rail system into the 21st century.
This will surely help our economy get back on track. But really, for the immediate future, we need to create jobs (businesses are sitting on 1.8 Trillion dollars and are afraid to hire), right now, which would enable people to be able to at least purchase a a coop, condo, townhouse or HOA type property(home owner association) This would greatly help our anemic real estate market. However, if you are builder and are constructing rental type developments, you should do very well in vaious areas of the country where the need is; where people cannot buy right now, because of lack of downpayment, credit, foreclosures, short sales,or if you are an older individual, you might feel more comfortable not owning at this stage, etc. Rentals will be strong for the foreseeable future, until our economic future becomes more predictable and stable. We have to live somewhere, although the homeless population has been increasing and according to the U.S. Dept of Housing & Urban Development, an estimated 12 million renter and homeowner households now pay more then 50 percent of their annual incomes for housing, and a family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States. The lack of affordable housing is a significant hardship for low-income households preventing them from meeting their other basic needs, such as nutrition and healthcare, or saving for their future and that of their families. No jobs & no money= significantly less buyers. Less buyers means less purchasing of primary residences and less purchasing of refrigerators, stoves, dishwashers, washers & dryers, etc. you get the picture??? The major part of our ecomony is consumer driven and when we hurt the economy hurts!! Will it take 3 yrs, 5 yrs or maybe even 8 yrs to get us back on track, we shall see. We all have the potential to help get us back on track. I would like to share a blog I read on activerain.Com (largest realtor to realtor blog site), that I read today, by Richard Barbee, Broker from Knoxville, Tn that I thought was quite poignant for today.
4 Temptations to Avoid During This Slow Economy
“When times are lean, it is very easy to grow dark, bitter, fearful, and/or discouraged. We must find an effective way to stay sharp, positive, and productive. King David wrote a Psalm about the notion of remaining steadfast when even “a thousand fall on the right of me and ten thousand fall on the left of me.” Here are four internal choices to avoid:
1. The choice to envy: The ability to celebrate others’ successes (that are achieved honestly and ethically) or the result of pure luck, is an internal decision. We must refuse to grow jealous, think critically out of envy, and assume the worst of others that do achieve. When another person achieves something great during these hard times, it is a fantastic opportunity to congratulate, buy them lunch, pick their brain, and repeat what they did. Instead of a chance to envy, we overcome the negative temptation by learning and working.
2. The choice to quit: When we are doing all the right things, and have already redoubled our efforts, and have already networked out the wazooo, refuse the temptation to give up. Instead of quitting, begin quizzing your actions, habits, circumstances, and attitude. Take new looks at yourself. Ask others for feedback. Be willing to try something new. Work harder. Never, ever give up. Never quit. Change tactics? Yes. Improve attitude? Yes. Learn new techniques? Absolutely. Refuse to cheat yourself and guarantee a ZERO return on your investment.
3. The choice to grow cynical and negative: Attitudes and personalities develop over time. They can also change in difficult circumstances. A once bright and productive person can be dark and slow. Tough times, traumas, major letdowns, poor results, betrayal, and more can lead us to negativity and cynicism before we realize it. When we work very hard and see little or no positive result, the temptation is to think that things will never work out, that fate is bent against us. Choose to examine the current market and environment, assess your own activities, and seek counsel. But, refuse to criticize yourself needlessly and believe in some faceless power that is set against you.
4. The choice to cheat: This may be the strongest and most frequent temptation. Bending the truth, cutting corners, using manipulation, and deception are easy to rationalize when we tell ourselves that “everybody else is doing it.” Those beliefs that we choose to believe have dramatic effects on the ways in which we feel and thus behave. We fool ourselves into feeling good about wrongdoing. “It’s not that bad.” “Everybody does it.” “Everybody lies.” It’s all one road to cheating and rationalization. Choose character and integrity always. Dignity matters.
I hope these thoughts are helpful and encouraging to you. God bless you in your work”
Richard D Barbee, M.Ed., GRI, CRS
Let us see if some of us can make the necessary changes, one step at a time, to move our businesses and our country’s economy forward, as suggested by Rich Barbee.
Posted in Uncategorized
Making Appointments with Customers
When scheduling appointments with customers, it would a good idea to make sure you allow enough time in between stops for travel as well for the customer checking out the property. Also, be on time to your appointments! Usually 5-7 minutes for showings works. Travel time will depend on how tight the routing of properties will be. Also, discussion will arise about some properties in between the showings, usually while driving between stops. When discussions do arise, find out what they like about the places they have seen and what they didn’t like. This should help you fine tune the likes and dislikes of the purchaser(s); getting you closer to what they really would prefer to buy. It is a good idea to give copies of each lising to be shown to the buyer; especially for taking notes, so the information will be there to look at later or another day. In the event a couple is looking to buy and only one of the two people go out to look, the copies will come in handy later on or the next day to be reviewed and discussed by the other individual. Sometimes you may think you have hit a home run, and you will; but most other times, I advise, do not get too excited until you are closing the deal and you get your commission check. Today, there are so many things that occur during a transaction, one never knows the end result.
Posted in Buyers, Real Estate, Real Estate
How are sellers in todays Market
I have noticed that those sellers that are still overpricing their homes are not selling and are either being withdrawn or
released from the market; or expiring unsold. The realistic sellers are pricing more aggressively to sell their properties. Some higher priced properties have taken or are taking 1-2 years to sell. I am not sure we have hit the buttom just yet.
Because it is still a buyers market, sellers have to be as flexible as necessary, if they truly want to sell their properties. When it was a sellers market, sellers demanded high prices from the purchasers and did so until the market collapsed in 2008. Now the buyers have been in charge for the last number of years. One day the market will balance out again and negotiations will be more reasonable. Until then, the market turmoil will continue, things will sell over time and the economy will struggle to see the light at the end of the tunnel.
Posted in Real Estate, Sellers, Uncategorized
How will your landscape look this Spring
Are you the process of considering selling this Spring? Have you already taken the clutter out of the inside of your home?? Whatever you may not be taking with you either sell, give it away or throw it away!! Now, let’s look at the outside like a discerning purchaser. Is color and green lacking on the lawn and flower beds??? What could you do at a reasonable price to spruce it up? An application of a quality slow release fertilizer 32-5-10 (Nitrogen-Phosphorus-Potash) @ 5lbs per 1000 sq. ft. This will help green up your lawn over a 7-10 day period. Also, add some plant food to the landscape, Miracle Gro or any good fertilizer 10-10-10. Til & cultivate it into the soil. Contemplate what budget you have for adding plants to your landscape. Then, add a few flowering shrubs, everygreens etc by your walkway and front of your home. In the past the rule of thumb was for every $1.00 you spent on the outside of your property, you would get $5.00 back. I am not sure that is the situation today; but it will go along way in making your home stand out and curb appeal will be greatly enhanced. Also, make sure you make a well defined flowerbed and edge carefully. The nicer the look the better you can compete with all the other homes in your location or on the market. It will also give the positive impression, that you care about your property and take care of it.
It will be one less item on the buyers list to negotiate down the price!!
So beware, DON’T FORGET THE OUTSIDE OF YOUR HOME, DO SOMETHING…..
Posted in Buyers, Real Estate, Sellers
Tagged cultivating, fertilizing landscape, flower beds, lawns, shrubs, sprucing up the outside of home, trees
HAPPY NEW YEAR
TO ALL OUR VALUED FRIENDS, BLOG READERS, AND EVERYONE ELSE; PHIL, HIS AGENTS & STAFF HOPE THAT YOU HAD A HEALTHY, HAPPY HOLIDAY SEASON AND THAT YOU WILL HAVE AN EVEN MORE PROSPEROUS NEW YEAR!
Posted in Real Estate
Don't be your own realtor
Many home sellers, especially when the market is hot, figure they can save money and avoid real estate commissions by selling their own home without the assistance of a licensed real estate professional.
Although this method may appear a cost-cutting measure on the surface, those who attempt to sell their home and don’t have the training and knowledge that a real estate professional has, may be opening themselves up to more frustration, disappointment and possible legal entanglements than they ever dreamed about.
Because of today’s complex laws, conducting a home selling transaction can be a legal maze, and if things aren’t handled properly, a disgruntled buyer may be able to get his revenge in court. Also, with the million and one problems that most agents work with, getting the sale closed and the buyer through the loan process in a timely fashion will be worth the price of the commission alone.
Posted in Real Estate
Setting Selling Price
How do you set the selling price of your home? Probably the most dangerous way is to do it yourself. The asking price is, by far, the most important part of the selling process. You need expert input.
At most agencies, they offer a comparative market analysis to help evaluate your property. In doing this market analysis, they walk through your house with you, often making suggestions about selling points that should be emphasized or minor changes that will compare your property with others similar in size and character that are currently on the market or that have been sold during the past year. In effect, the proper selling price will be determined by the local market – and you’ll probably be pleased with the suggested selling price.
This market analysis is an excellent way of rationally determining your asking price. Bear in mind, however, that it’s an estimate. You have no obligation to list your property at the suggested price.
Posted in Real Estate
Helping you sell
Happy Fourth of July
A “For Sale by Owner” sign may draw more curiosity seekers than prospective buyers. Unless you really know what you’re doing, you’ll get the best results by using a Realtor to help sell your home.
A Realtor should act as your personal broker. He or she will help you set an equitable price, advertise your property and expose you only to buyers who are really interested in, and able to buy, your home.
Your agent should act as your price negotiator, and help the prospect buyer find financing. All the paper work should be handled by the agent who will also assist your lawyer with legal matters. Most importantly, your Realtor should help structure the transaction to attain the best tax position for you.
Be frank and cooperative with your agent. Tell him or her the terms on which you’ll sell; condition of the house, special features and moving or possession deadlines.
Posted in Real Estate
Check Loan Chances First
Buying a home has never been an easy task and it’s not getting any easier. Home values continue to increase faster than the cost of living. We see would-be buyers who have searched for months to find a “dream home” only to find out they could not qualify for a loan for that price house.
Ironically, it’s a heartache most buyers can avoid simply by doing a bit of arithmetic and talking with their Realtor or Lender BEFORE they start hunting for a new home. If you know how much the bank will lend you PRIOR to your house hunting, you won’t waste time looking for a house you may not be able to afford.
At our office, we are familiar with most of the banks in our area and can recommend a loan officer to visit with. If you bring your financial numbers along (assets, debts, gross income, expenses, etc.), he or she can give you an estimate of how much the bank will lend you. Then you’ll have something solid to work with and can look for a home that fits your budget.
Posted in Real Estate
The Importance of Location
Any Realtor will tell you that the three most important factors concerning the value of your house are: “Location, Location, and Location.” Unfortunately, most home buyers ignore this important advice.
Location is especially vital when buying a house for maximum resale value. Statistics say that you will be reselling your home long before the final mortgage payment is in the mail. Therefore, take a long, hard look, not only at the present, but the further prospects for the community and immediate neighborhood.
Select a location where raw land and house values have an increasing price trend. Especially check into the zoning laws for any unfavorable change, which could cause a -depreciation in the value of the neighborhood and the resale price of your home in the near future.
Remember – you can remove, replace or remodel a house, but you can never change location. So choose carefully.
Posted in Real Estate