What Your Real Estate Agent Knows That You Don't

When you make the decision to sell your home, you are under no obligation to hire a real estate agent or broker to help you with the sale. Nonetheless, most people prefer to hire a real estate agent in order to better protect themselves. And, it also puts them in a better position to successfully sell the home in a short amount of time. more... [Broker Agent News by Eric Bramlett 11-30-2007]

Save Your Home from Foreclosure

YOU’RE NOT ALONE IF YOU’RE HAVING TROUBLE PAYING YOUR MORTGAGE
The housing boom led to a record homeownership rate of nearly 70 percent, but some homeowners now face problems making their mortgage payments and can’t refinance their loans. Over the last few years, lenders invented new types of mortgages to help families buy their first homes and refinance their existing mortgages. Many of these mortgages helped families without cash for a down payment, or with less-than-perfect credit, qualify for loans known as "subprime" loans. read more...

List Low, Sell High

In today’s hot sellers market, setting a list price that's lower than market value can be an effective strategy as long as you combine it with an aggressive marketing campaign. In this article from The Boston Globe, the author states that if sellers expose an under priced listing to a broad-enough segment of the market before accepting offers, the market will establish the price through a process of competitive bidding. This strategy is most effective in markets that lack enough homes for sale to meet the demand. Further the author cites that to be a successful seller, you need to manage your expectations. Using gimmicks to attract buyers, may increase the number of showings your listing receives. But, it's unlikely to result in a sale if your listing is priced too high. [Dian Hymer, The Boston Globe, August 27, 2007]

Risky Loans Get Harder To Come By

Some nontraditional mortgage loans have vanished from
lenders' menus, while others have gotten more expensive during an eventful week for
those in the mortgage industry.
But a looming credit crunch for riskier mortgage debt has not yet spilled over to
traditional, creditworthy borrowers, who can still obtain conventional financing at
market rates, mortgage lenders say.
"What we're seeing is because of the mess in the subprime market world right now. It
is definitely blowing over to the [parts of the] prime market," said Ginny Ferguson,
co-owner and broker of Heritage Valley Mortgage in Pleasanton, Calif.
It's the riskiest part of the nonsubprime market that is feeling the squeeze as the
secondary mortgage market has curbed its appetite for these loans.
Mortgage offerings changed daily this week as some companies took Alt-A loans off
the table...[Amy Hoak, MarketWatch, Aug 3, 2007]

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Lakeview Colonial with In-Ground Pool

Selling your home for the best price in an up or down market

A good, full service Realtor will be able to help you sell your home for the best possible price, terms and conditions. In this article from Jacksonville.com, the author states that for obvious reasons, the asking price is the most important factor in determining how fast your home sells. Professionals know that the longer a house stays on the market, the lower the selling price will be in comparison to the original asking price. It is important to look at all the feedback with your Realtor to determine the next steps to take. The author further adds that if your home has languished on the market for several months, it may be a good time to take another look at your competition and determine a more aggressive strategy. [Phyllis Staines, Jacksonville, June 08, 2007]

The right price is right way to capture buyer

Selling a home "as-is" in the current market is not all that easy. In this article from The Washington Times, the author states that there is a very big difference between an as-is sale and a house that has a lot of defects. He further recommends that sellers do not call their property as-is when they list it. Rather, they should raise that with buyers or perspective buyers at contract time once there's an offer being negotiated. Buyers should be interested in all the best properties available on the market. Without doing more research, you shouldn't rule out any property for any reason. Before you decide for certain how to market your home, be sure to consult with a Realtor regarding your state's disclosure regulations. [Sara Sicks, The Washington Times, June 01, 2007]

Will market warm up this spring?

The spring market always is the hottest period of the year for home sales. The pertinent question is that whether this spring will be better than last spring was. As per the article from The Washington Times, the author states that the increase in traffic that agents were reporting caused some to hope that the spring market would pick up in a big way. Cumulative data for the District actually shows sales there up by 2 percent over the first four months of the year, but that is the only jurisdiction where sales have risen this year. April's lackluster sales meant that home prices are falling or stagnant in most of the region. [Chris Sicks, The Washington Times, May 18, 2007]

Professional Staging Edits Clutter and Smells

Sellers with small children or pets might consider hiring an accredited professional stager (ASP) who can provide simple guidelines to help them redirect potential buyers' focus to the home's highlights as a welcoming, livable space. As per the author from The Washington Times, professional staging edits clutter, smell. A good stager knows the demographics and can calculate when a property should be staged to sell to buyers with one or more children. Homeowners with a large family, including many pets, may not recognize the disorder and accumulation of items in their homes. A stager can help them with a fresh perspective on how to rearrange, organize and get rid of unnecessary items. [Cary Lee Dailey, The Washington Times, March 30, 2007]

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Is Remodeling Worth The Expense?

Prospective home remodelers need to ask themselves whether doing remodeling can be a worth the expense. As per the author from Boston.com, according to one of the report, the cost of remodeling increased at the same time that the return on the dollars invested decreased. This report underscores the importance of remodeling with a long term perspective in mind. It does not make sense to embark on a major kitchen remodel just before selling your home. The report covers 25 remodeling projects, and for the first time PDF files are available for the 60 cities that were surveyed. The author suggest homeowners before they take on a remodeling project, talk to local contractors for input on costs, and to a trusted realtor for information on how much they can expect to recoup when they sell. [Dian Hymer, Boston.com, February 19, 2007]

New Home Sales Post Second Straight Month of Gains

A report issued by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new homes increased for the second straight month, rising by 4.8 percent over sales in November 2006. According to Quicken Loans, the increase means December new home sales were at their highest level since April 2006. As per the economists the increase is good news for a housing sector that had seen some set-backs earlier this week. The report of increased new home sales comes as a big relief to many, following a week of otherwise discouraging real estate. [ Quicken Loans, January 26, 2007]

November Key to '07 Forecast

The number of listings in November was down by nearly 3,000 compared to October and that drop could be a sign that things will improve soon for sellers. In this article from The Washington Times, the author states that November's drop in home listings can be a good sign for 2007. One statistic in particular is going to have a lot of impact on them: home listings. According to the author two things are going to make a difference for sellers in 2007: healthy interest from buyers and a drop in the number of listings. However, as listings data become available for December and January, one may gain some insight into the fate of area home sellers this year. [Chris Sicks, The Washington Times, January 05, 2007]