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Category Archives: For Buyers

THE 50 SHADES OF GRAY FOR A HOME’S EXTERIOR

“You can make all the excuses you want, but if you are not mentally tough, and you’re not prepared to play every night, you’re not going to win. “ ~ Larry Bird

 

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HOME OWNERSHIP RATES: ARE THEY CRASHING?

“You can make all the excuses you want, but if you are not mentally tough, and you’re not prepared to play every night, you’re not going to win. “ ~ Larry Bird

 

Homeownership Rates: Are They Crashing? | Keeping Current Matters

The Census recently released their 2014 Home ownership Statistics, and many began to worry that Americans have taken a step back from the notion of home ownership.

Easy… Chicken Little

The national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rates since then and taken that as a bad sign.

However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995.

Homeownership Rates Historically | Keeping Current Matters

Bottom Line

With interest rates and prices still below where experts predict, evaluate your ability to purchase a home with a local real estate professional.

BUYING A HOUSE? EVERYONE SEEMS TO THINK THIS IS THE TIME

“The idea is to make decisions and act on them — to decide what is important to accomplish, to decide how something can best be accomplished, to find time to work at it and to get it done.” ~ Karen Kakascik

home for saleThere has never been a better time to purchase a home than this year.  Prices are still down as are interest rates.  There are still foreclosures and short sales on the market that will be a great buy for those willing to put a little sweat equity into their home. Read the equity report by clicking on the link below then take a look at the why buy now.
         Equity Report          Why Buy Now?

FIELDING A LOW BALL OFFER ON YOUR HOME

“Success is not final, failure is not fatal: it is the courage to continue that counts.” ~ Winston Churchill

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Consider before you ignore or outright refuse a very low purchase offer for your home. A counter offer and negotiation could turn that low purchase offer into a sale.

You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counter offer that keeps the buyers involved in the deal.

Check your emotions.

A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that’s a counter offer or an outright rejection. Remain calm and discuss with your real estate agent the many ways you can respond to a lowball purchase offer.

Counter the purchase offer.

Unless you’ve received multiple purchase offers, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay, or they want to test your limits.

A counter offer signals that you’re willing to negotiate. One strategy for your counter offer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.

Consider the terms.

Price is paramount for most buyers and sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is pre-approved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.
Review your comps.

Ask your REALTOR® whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

Consider the buyer’s comps.

Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counter-offer information about those homes and your own comps that justify your asking price.

If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps.

Get the agents together.

If the purchase offer is too low to counter, but you don’t have a better option, ask your real estate agent to call the buyer’s agent and try to narrow the price gap so that a counter-offer would make sense. Also, ask your real estate agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel freer to reject the offer.

Don’t signal desperation.

Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer.

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.

By: Marcie Geffner

Marcie Geffner is a freelance reporter who has been writing about real estate, home ownership and mortgages for 20 years. She owns a ranch-style house built in 1941 and updated in the 1990s, in Los Angeles.

IMAGINE YOUR VERY OWN HUNTING RETREAT!

For more information or for information on how you can purchase this exquisite retreat, email Jocelyne at alachuarealtor@gmail.com

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12 THINGS YOUR AGENT MUST DO TO MAXIMIZE YOUR PROFITS!

12 THINGS YOUR AGENT MUST DO TO MAXIMIZE YOUR PROFITS!

“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn

Ready to List With A Real Estate Agent?

Do you understand the process of selling your home — all the “little” details? Before you list with an agent, educate yourself about all the possible things you could face. Be as informed as possible, so you can make the absolute best business decision. After all, the sale of your home is a business decision.

Most of us are not tuned in to the trends and fluctuations of the real estate market. Additionally, we are not aware of the steps necessary to maximize profits from the sale of your home. Typically, you rely heavily on an agent to lead you down the most profitable path. Well, when you consider your home is probably your largest financial asset, doesn’t it make sense to list with someone who will maximize your profits? But how do you find that agent?

This report is designed to empower you with critical information necessary to evaluate an agent’s qualifications and help you identify the professional top producer. The more involved you become, the better chance you have of choosing the right agent and consequently, the higher your profits will be!

Start by doing some research. Who are the most active agents in your market? Look at advertising to see how professional it is, ask friends and family, drive around the neighborhood looking for yard signs, then compile a list of agents.

1. The Phone Interview – Place a call to each of the agents on your list. Document how quickly they returned your call; keep in mind, they will be returning calls to your prospective home buyers. Do an initial ‘feel-out’ interview over the phone so when you meet, you will both be prepared.

2. Request a Complete Plan – From title to escrow, request a complete plan of all the services they will provide you when you list with them.

3. Evaluate Their Team – Top producers will have established relationships with lenders, title reps, inspectors, etc. These professionals are there for your benefit. If they are ill-prepared to handle all the steps of your transaction, look elsewhere!

4. Alternative Report – Request a complete report of alternatives to the home sale. What would current market leases generate? Rentals? Responsibilities attached with leasing? Have your agent educate you about all your options.

5. Insist on Pre-Qualification – Don’t waste valuable time negotiating or showing your property to unqualified prospects. Insist that your agent pre-qualify candidates to screen out all unwanted prospects.

6. A Net Sheet – See in writing a complete net sheet, minus commissions and fees, showing your exact proceeds at the time of sale.

7. A Marketing Plan – This is the heart of your agent’s overall strategy. Require a step-by-step plan with innovative new ways to attract home buyers.

8. Telemarketing Efforts – Investigate the agent’s telemarketing team. Do they just cold call? Or do they have a strategy to create proactive leads and call on those prospects.

9. Direct Mail – Investigate the agent’s capacity to send direct mail. How often do prospects receive mail? Is it professional? Does the mail piece motivate prospects to pick up the phone and call?

10. Advertising – Is it well written and professional? How many ad venues do they utilize? They should be advertising to as many on-line , community or local newspaper, and yard signs. Remember, the quality of the advertising will directly influence how well your home will be perceived.

11. Negotiation Strategy – Have a written, well-conceived, negotiation strategy. The old adage “You don’t get what you deserve, you get what you negotiate,” rings very true in real estate. Insist on a sound negotiation strategy before you entertain buyers.

12. Closing Strategy – Be sure to get a written closing checklist. You need to know in detail how you will conclude the sale of your home. This should provide a step-by-step procedure that will be easy to understand and follow.

My hope with this report has been to educate you and help you avoid the pitfalls many home sellers go through. I hope you found the ideas valuable and if there is every any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always free and you are under no obligation of any kind. I’d love to hear from you!

“SHORT SALE” Great Starter Home!

“SHORT SALE”  Great Starter Home!

This is a great home for the price.  The neighborhood is excellent and the lot is one of the larger lots in the area.  All in all,  this little brick gem is a great deal! I sold this home to the owners originally, and now it is time for them to move on.  So here I am selling the home once again. It is adorable and whoever buys this home will be very happy in it as my sellers are. To view more pictures of this home click on the link below.

“SHORT SALE” Great Starter Home!.

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