Archive for the ‘Travel-and-Leisure’ Category

« Older Entries
Newer Entries »

How to Let Real Estate Customers Know You’re Busy - But You Do Have Time for Them

Friday, October 12th, 2007

Realtors - does your attitude convey professional expertise - or neediness?

While your physical appearance goes a long way toward conveying a professional demeanor, what you say and how you behave are even more important.

After all, many of your potential customers and clients will meet you first on the telephone or via email. That means you need to let them know that you do have time to give them personal service, but that you are also a busy person who doesn’t “Need” their business.

Don’t take that wrong. No business should tell customers “I don’t need you.” What I mean is, you don’t want them to think that unless you list their home or find them one to buy you’re going to miss your next house payment.

There’s a big difference there.

So how can you strike a balance? For one thing, you can offer them appointment times. If they say they’ll be in town next Tuesday, you can say “I’ll be available after 1 p.m. Is that a good time for you?” If they insist that they absolutely must meet first thing in the morning, you can offer to try to re-arrange your schedule.

I know, you mustn’t lie. But you did have an appointment with yourself, didn’t you? You do have blocks of time written in your day planner for prospecting and working on your marketing materials, don’t you? (If you don’t, you should!)

What you don’t want to do is tell them that you don’t have any other appointments all week so whenever they show up is fine. If you do that, they’ll wonder why you don’t have any other customers, and they’ll assume the worst. They’ll assume that you aren’t very good at what you do.

On the other hand, if you sound rushed and barely able to squeeze in 20 minutes to meet with them, they’ll assume that you won’t have time to do a good job for them. They want to know that you’ll be available to meet with them at reasonable times, and that you’ll return their calls within a few hours.

Your job is to convey an impression of professionalism, an organized business life, and personal service. Most customers and clients want to hear from you, not from an assistant.

If you do have an assistant to handle some of the paperwork, mention it - but be sure to add the fact that the reason he or she is there is to free up your time to be with your customers and clients. Don’t let them find out about your assistant in a manner that makes them believe they aren’t getting your personal attention.

If your assistant communicates on your behalf, make sure the customers know it’s because you felt something was too important to wait until you were back in the office.

I mentioned making appointments with yourself. If you have things going on in your personal life that need to be scheduled, do write them in your planner. They could be anything from a haircut, to lunch with your best friend, to a school event for your children.

Having the time and money to live your life well is the reason you work, so these are important appointments and need to be treated as such. But you don’t need to tell your customers what they are!

I will never forget the time one of my co-workers told a customer she couldn’t show him houses on Thursday because that was her bowling day. They bowled at 11 a.m. and then they all hung around the bowling alley to drink beer and visit, so she was never available on Thursday. And she told that to the customer!

The man fairly roared! He didn’t buy a house through her, either.

Your customers don’t need to know what your appointments are. They only need to know that you will be available enough of the time to give them attention and do the job they’ve chosen you to do.

Marte Cliff is a Freelance Copywriter and former real estate broker who specializes in writing for real estate and related industries.

Her e-book, Getting Clients, is a resource for beginning real estate agents as well as seasoned agents who want to know how to make more money in less time. Read all about it at http://www.marte-cliff.com/career.html

Marte offers a weekly ezine for real estate professionals and others with an interest in marketing themselves or their property. Subscribe by sending a blank e-mail to realestatehelp@getresponse.com and you’ll immediately receive a copy of her real estate ad writing report.

Visit her at http://www.marte-cliff.com or contact her at: writer@marte-cliff.com

Posted in Outdoors, Vacation-Rentals | No Comments »

Lease Option Real Estate in Fenton, MI - Super Strategy in Michigan’s Economy for Buyer and Seller

Friday, October 12th, 2007

If you know anything about Michigan’s economy, you know that it hasn’t been doing well for years, and may continue to languish. Lease option real estate in Fenton, MI is a strategy that is working very well in today’s economy whether you are a seller or a buyer.

Fenton is a city in Michigan, situated in Genesee County. The population is north of 10,000 and may be significantly higher than that by now since that number reflects a census that is 7 years old.

If you are a motivated home seller or want to purchase a home, you should understand the lease to buy real estate in Fenton, MI….because it has advantages for both the buyer and seller alike.

First, a lease option is also called a rent to own, so understand that these terms mean the same thing.

Some Advantages of Lease Option Real Estate in Fenton, MI

Are you being downsized? Job loss? Being transferred out of state? Paying two mortgages and can’t afford both of them? Simply can’t afford to make your mortgage payments anymore? If you’ve tried but can’t sell your home with a real estate agent, then the lease option may be just the thing you need.

Putting a tenant-buyer into your home will alleviate you of the monthly mortgage payments, and allow you to sell your home for much closer to fair market value than you’ll get listing it with a real estate agent in a slow economy.

Why is this?

Simply because your typical tenant buyers for rent to owns will not have the necessary down payment or credit score to qualify for a traditional bank loan.

This means that many of them will be willing to pay closer to the true value (appraised value) of your home than other people who can get bank financing. It also means you can get good market rents during the option period.

Advantages for Lease to Buy Real Estate in Fenton, MI

The advantages for the buyer are also numerous.

First, you get a shot at home ownership. Rather than wasting money on rent, you get an option to purchase a home that you like.

Even if you can’t get a conventional bank loan, and have bruised or damaged credit, you can purchase a home on a rent to own basis and stop wasting money on rent making a landlord rich.

Part of your monthly rent goes toward “rent credits.” This is money that is set aside and goes toward the purchase price of the home if you exercise the option to buy it. For example, if you are paying $1,200 a month on the home, $200 dollars of that might be allotted toward the rent credit, which means you are effectively building equity when you buy the home.

Although there are other benefits too numerous to list here, another one is that you get to “test drive” the home before you buy it. This is because if you set up the lease option real estate in Fenton, MI contract the right way, you have the option but not obligation to buy the home.

So, if your option is for 24 months, you can live in the home for 24 months and if it turns out you don’t like it, or the neighborhood, you can choose to not buy the home.

This really gives you a lot of flexibility and control.

It’s little wonder the lease to buy real estate in Fenton, MI is becoming one of the most popular ways to sell and buy houses here.

As real estate investors in Michigan, we are teamed up with experts who have structured and implemented countless lease options in this state in the past few years, and can assist you whether you need to sell your home or buy one on a lease option.

If the transaction is not set up properly, what is a potentially good thing for both parties can end up to be a nightmare. So make sure you do it right, or seek the assitance of real estate investors who can help put it together for you.

We also have credit repair programs so that if you want t rent to own, you will be able to vastly increase the chances of you being able to get that bank loan you need to buy that lease option home during the option term.

Dan Ho is a real estate investor in Michigan. Visit lease option real estate in Fenton MI to learn more about the advantages of buying and selling a rent to own home.

http://www.buy-sell-michigan-real-estate.com is the definitive resource on the Internet whether you’re a potential home buyer or motivated home seller.

Posted in Home-Health-Care, Outdoors | No Comments »

Why Property Physical Inspections Are A Worthwhile Investment

Wednesday, October 10th, 2007

I’ve been in the real estate business for many years and the home buying landscape has changed dramatically over that time. Prior to 1986, the responsibility of determining and assuring that the property being purchased was in good condition depended primarily on the buyer’s own ability to check out the condition of the property before making an offer to purchase. Buyer’s had little or scanty legal protection and existing laws at the time did not allow the buyer any recourse for compensation if major problems were later found. A buyer was often left with a property that had many problems and huge financial outlays in order to correct them. However, thankfully, times have changed.

In California, government legislated disclosures and clauses in the standard purchase contract have provided for great advancements in protecting buyers’ interests. These disclosure guidelines may not be applicable in other states but there seems to be a trend in the industry toward more disclosure for the buyer. Sellers are required to disclose material facts known to them that may affect the value of the property, and are liable to the buyer for not doing so. One of the best methods of protecting the buyers’ interest is to utilize the services of licensed physical inspection companies.

For a nominal fee, professional inspection companies will check out the general condition of the major systems (i.e. the plumbing, foundation, roof, etc.) of the home. Their primary function is to determine if any of these systems are not functioning properly, and make recommendations for further inspection or repair. Discovery and negotiation of repair of these items early in the transaction are helpful in the process of a smooth escrow. Every dollar spent for the home inspection will pay off in the long run by informing the buyer whether there are any major issues that are worthy of repair and/or provide the home buyer with a list of items to address at the negotiating table and potentially lower the price of the house.

Typically though, the home inspections do not require repair of or note each and every minor defect caused by normal wear and tear. The acceptance or “discovery” of any existing minor items are left up to the discretion of the buyer.

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate and mortgage industry for over 25 years. If you would like to read more of Nef’s timely advice (with the latest FREE info on local foreclosures), visit his website at Chino Hills CA Real Estate or read his blog at A Slice of So Cal Real Estate

Posted in Outdoors, Real-Estate | No Comments »

Should You Collect Extra Rent and Extra Security Deposit for Pets?

Tuesday, October 9th, 2007

The collection of extra rent and extra security deposit is often an area of opposing thoughts between landlord and tenant. Therefore, let’s look at the problem from both perspectives, beginning with the tenant.

The Tenant
Many tenants think it is unfair to charge both extra security deposit and extra rent for the privilege of pet ownership and I will tell you why: If someone wants the pleasure of a pet (especially a dog or cat) an extra security deposit is nothing to pay for that pleasure. Most tenants understand that and know the extra security deposit is taken in case the pet somehow damages the rental unit. If they do damage something, the landlord pays for the damages out of that money.

Now when a landlord charges extra rent for a pet, are they charging it because the pet will be taking up more living space, use more hot water, or flush the toilet? No. They are charging extra rent because the pet could possibly cause damage to the property.

Therefore, when a landlord charges extra security deposit for wear and tear or possible damage and extra rent for those same reasons, many people believe they are being double-charged for the pleasure of owning a pet. And nobody likes to be double-charged.

The Landlord
On the other hand, from a landlord’s perspective, charging the extra rent for the privilege of pet ownership is smart business since the risk of damage is definitely higher, and the tenant should compensate for that risk. Let’s say you feel $25 a month is enough for compensation, so you add that to the rent. This additional $300 per year somewhat eases your mind should the pet cause damages to the premises.

Let’s say six months into the lease the tenant moves out. Upon their departure you discover Fido had a weak bladder and consequently ruined all the living room carpet. The $150 you collected in extra rent ($25 per month times 6 months) will not cover that replacement and because you didn’t receive any extra security money up front you lose.

The basic thought to keep in mind from a landlord’s perspective is a pet who has a bad day can do hundreds of dollars of damage to a property during that one day and collecting $25 or even $50 per month to cover that bad day just is not enough insurance—especially if this damage happens early in the tenancy. For this reason, it makes perfect sense from a landlord’s perspective to charge both extra rent and extra security deposit for a pet.

Therefore, although tenants may believe you are double-charging them, in reality, the combination extra rent and extra security deposit is really an attempt to cover all scenarios—and rightfully so. Ultimately, it is easier financially on the tenant because most tenants will not have the extra money for a much larger security deposit, such as a full month’s rent. Although this combination leaves you with a little more risk in the beginning of their tenancy, this risk is reduced with each passing month.

The one advantage about collecting extra rent is if upon departure, the tenant’s pet really did very little damage, then you’ve made more money on that rental since the extra rent is yours to keep no matter what.

The Answer
There probably isn’t a good universal answer to this question although there is one universal element. That element is this: if you allow pets, especially dogs and cats, in your rental, then you need to collect some form of compensation in case they cause any damage. This can be in the form of extra rent, extra security deposit, or both. Whatever you choose, provide yourself with as much coverage as possible. (I cover the topic of pets in other articles available on my website at http://www.findthatqualitytenant.com).

Don Conrad is the author of the book,” How to Find Quality Tenant”. His website at http://www.findthatqualitytenant.com is dedicated to educating and improving the landlords tenant selection process. This website contains educational articles, valuable links, free reports, a list of landlord associations, monthly tips, a Fair Housing Test, and much more.

Posted in Outdoors, Pets | No Comments »

Stage Your Own Appearance to Convey an Appropriate Image to Your Real Estate Customers and Clients

Tuesday, October 9th, 2007

Do you shop with businesses who seem to “need” you, or do you choose companies who already have plenty of customers?

If you’re like most people, you choose the ones that are already busy.

Real estate customers are the same. They want to know that you don’t “need” their transaction in order to meet your next car payment. Seeing you as needy sets up distrust - a feeling that you might lead them in the wrong direction just to get a sale closed and a commission check on your desk.

On the other hand, if you look overly successful, they’ll also be suspicious. You know a lot of people think Realtors make way too much money. And if you make too much money, then you must be crooked. (No, hardly anyone knows just how much work goes into a real estate closing.) So even if you make 3 times more than your average client, don’t flaunt it!

One way you can convey the right image is through your physical presentation.

Just as you tell clients to stage their homes before you bring buyers in, you must stage your own appearance.

Start with your clothes. They don’t have to be expensive, but they do need to look clean, well-pressed, and appropriate.

I’ve seen agents show up to meet with clients wearing an old t-shirt and sweat pants. In summer, many agents think its fine to wear shorts. I also once saw an agent in her office at 10 a.m. wearing a hot pink satin evening dress. Hmmm… I don’t want to do business with any of them.

I should back up a moment there. If you’re showing waterfront property and using your boat to transport customers, the shorts are appropriate. They may also be appropriate in a resort town where every other business person you meet is wearing them.

But if you look like you just took time out from your golf game, or just rushed in from a day at the beach to meet with them, you’ll convey a completely different image. Face it, even if you worked double-time all week-end, your potential customers don’t want to know that you get to take Tuesday off.

Likewise with jeans. In this mountain community they’re the uniform, and many Realtors choose to wear them because they never know when they’ll find themselves hiking through the forest or crawling through barb wire fences. But that’s no excuse for wearing the old faded pair, or the ones with holes! (and some do) And that’s no excuse for the faded t-shirt. A nice shirt or sweater and good blazer make a pair of jeans look business-like in the right community.

Your grooming counts too. The unshaven look conveys the image that you didn’t care enough to present yourself well… so does dirty hair and fingernails. And ladies, you don’t have to wear any makeup at all if you don’t like the stuff, but if you do wear it, go lightly. For Pete’s sake don’t put on so much that you look like you’re ready for a night on the town.

Next is your vehicle. It doesn’t have to be new and it doesn’t have to be expensive. It does need to be clean and free of clutter. When you have to shove the junk over on the seat so your customers can get in, you don’t project a professional image! And yet, I’ve seen Realtor’s cars that look just that way.

I recall a Broker Education class when the real estate instructor told us to always drive a mid-range car. Never use the Cadillac or the Mercedes to show property. One elegantly dressed woman spoke up and objected. She said that if she didn’t drive her well-polished Cadillac her clients wouldn’t trust her. She needed to look as if she belonged to their “class.” It turned out that she sold the most expensive homes on the waterfront.

So, there are exceptions. The most important thing is to look and act appropriately for the customers you serve and the properties you sell. Don’t appear needy, and don’t ever look arrogant.

Marte Cliff is a Freelance Copywriter and former real estate broker who specializes in writing for real estate and related industries.

Her e-book, Getting Clients, is a resource for beginning real estate agents as well as seasoned agents who want to know how to make more money in less time. Read all about it at http://www.marte-cliff.com/career.html

Marte offers a weekly ezine for real estate professionals and others with an interest in marketing themselves or their property. Subscribe by sending a blank e-mail to realestatehelp@getresponse.com and you’ll immediately receive a copy of her real estate ad writing report.

Visit her at http://www.marte-cliff.com or contact her at: writer@marte-cliff.com

Posted in Outdoors, Vacation-Rentals | No Comments »

Tampa Real Estate - Selling an Investment Property

Sunday, October 7th, 2007

Indeed, making a sale in Tampa real estate investing is quite stressful and tough.

At this stage of investment, there can be some point that things can go wrong. And making a profit depends so such on having a smooth and rapid sale. Worrying can be felt until that deal is not close yet. And worrying will surely occur if you choose to avoid the expertise of a real estate agent and just wanted to sell the property on your own.

A real estate agent or broker can be a great help in making a sale. But of course, in hiring a real estate agent requires some costs. A huge brokerage commissions makes a lot of investors turn off to the idea of hiring a real estate agent and just do the selling process on their own. In doing so, the investors believe that they will have an increasing residual income. If you truly wanted to sell your property on your own and don’t want to hire a real estate agent, better to take these steps into consideration.

So in terms of selling your property and making your first investment in Tampa real estate, it is better to calculate the asking price of the property. It is wiser to hire a professional appraiser, in order for him or her to price the property or look out for the sale prices of the comparable property in the same area. And this comparing with other Tampa real estate properties is typically done in the court house. In making or calculating the asking price, you have to consider the current Tampa real estate market, either lowering your price or maybe obtaining bigger than the market value of the property, these all depends on the current market of Tampa real estate. So it is better to be informed about the current condition of the Tampa real estate market.

As soon as you come up with the price, next thing to do is to market your property. In marketing your property, it involves advertising and showing the property to potential buyers individually and at the open houses. Also one way of advertising your property is by putting a ‘for sale’ sign outside your property.

In this stage, you need to contact an attorney in order for him or her to prepare the purchase contract forms needed. And this contract should be signed up by you and the buyer as soon as come up to a negotiation.

Right after the negotiation, the actual work will begin. It is time for closing the deal, and this is the toughest part. In performing the closing deal, better to hire middle man who will help you in taking payments and the likes. At this period, you need to provide the buyer the necessary paperwork with disclosure statements and he or she will provide you with loan commitment letter. Then, you need to meet with the buyer and the middle man or escrow company to sign all the paperwork, pay the closing fees to the escrow company, and even pay off the mortgage and other taxes to be paid.

Yes, the closing the deal is the toughest and busiest part of selling your investment property in Tampa real estate. But amidst of all the stress and hard work, this stage is the most exciting part. This is the part that all of your hard work will be worth it, since you end up with profits in your hands. That’s actually what makes Tampa real estate investing an exciting one.

Article Author Eliza Maledevic from Jump2top.com, a SEO Company.Visit Tampa Real Estate Websites at http://tampa-bay-realestate.line.us &
http://www.tampa-realestate.biz

Posted in Outdoors, Vacation-Rentals | No Comments »

Chelsea MI Real Estate: Need to Sell Your Home Or Want To Buy One?

Sunday, October 7th, 2007

Chelsea, MI real estate listings have much to offer potential homeowners. Located east of Battle Creek and west of Ann Arbor and Detroit, there are a number of homes in the area for less than $150,000. “Affordable” is a word that you will often see in advertisements.

Until recently, Chelsea was not a city, but a village under the jurisdiction of Lima and Sylvan townships. In March of 2004, residents voted to change their municipal status from “village” to “city. It is a small city, when compared to most other Michigan cities. With a population at the last census approaching only 4400. Nearby Ann Arbor’s population is more than three times that of Chelsea.

Chelsea Community Hospital is a major employer, but most residents are commuting to work in a nearby city. Choosing to live where the population is less dense, but work where there are more opportunities.

Just one example of the Chelsea, MI real estate listings is a home on Clear Lake Shores, 20 minutes from Ann Arbor and priced at $1.2 million. On the other hand, one can also find new condos and older farm and ranch style homes in the $125,000 range.

The struggling Michigan economy is causing some frustration for people trying to sell their homes. Average closing prices are stable throughout much of the country, but homeowners in Ann Arbor, Chelsea, Detroit and many Michigan cities have been forced to reduce the prices on their homes by as much as 6%, in order to sell them quickly.

Most homes stay in the Chelsea, MI real estate listings for months on end before a sale is finalized. As such, many people are moving away from real estate agents and selling their homes themselves. They are also doing this to save on the large 6% commission that is eaten up by the real estate agent.

Some strategies to consider that are working well in Michigan right now:

Frustrated sellers who are getting creative are having a great deal of success selling their home on a rent to own basis.

Rent to own is also called a lease option. These agreements appeal to many people who have the money to make the mortgage payments, but for various reasons are unable or not interested in an “outright buy”. Typical reasons include the buyer has bruised credit, or doesn’t have a large enough down payment saved, and, because of such factors, doesn’t qualify for traditional bank financing.

For buyers, this is the right time to invest in Michigan’s future. The cities are consistently working to attract new industry and financial experts expect to see the economy recover and grow over the next several years. This could mean that the property you buy today for less than $150K will be worth quite a bit more in three or four years time, maybe less.

In other areas of the country, people have seen their property values double and triple in only a few years. Real estate is always a good investment in the long run.

Why choose a lease option agreement? For the seller, it means that they can get their property out of the Chelsea, MI real estate listings and move on, if that is what they need to do.

People who might not be able to qualify for a good mortgage rate and are willing to work to improve their credit over the term of the lease can still take advantage of today’s low prices, by locking in the price in the lease option agreement.

People who are saving for a down payment like the idea that a portion of their rent will go towards the eventual purchase of the home. People who are not sure if they are ready to buy like the idea of having the “option”.

All of this means to the seller that more people are looking at the property, more people looking means better chances of selling.

When both parties are in agreement, the final purchase can be conducted without a real estate agent, meaning no commission and more money in the sellers pocket. Potential buyers can take the time to find their own financing, meaning no commission to a mortgage broker. There are many ways to save money on real estate and to make more money selling real estate. A lease option agreement can help.

Right now there are 21 homes in foreclosure or pre-foreclosure status in Chelsea. Losing a home to foreclosure means that the owner loses every penny he or she has invested, not to mention the time spent, the damage to the credit rating and the difficulty finding another home. Sellers need to consider all of their options to avoid foreclosure.

It is almost a surety that there is a buyer out there for every piece of Chelsea, MI real estate, sometimes it is just a matter of finding them. Offering a lease option agreement can make the difference.

Experienced real estate investors in Michigan who do a lot of lease option deals can assist putting the deals together. Such investors can help you whether you need to sell your home, or you want to buy one.

Dan Ho is a real estate investor in Michigan. Visit chelsea MI real estate for more great free information on the advantages of selling your home on lease option or buying a rent to own home.

http://www.buy-sell-michigan-real-estate.com is the definitive resource online for motivated sellers and buyers of Michigan homes.

Posted in Currency-Trading, Outdoors | No Comments »

Sacramento Real Estate: As Well As Can Be Expected

Saturday, October 6th, 2007

Coming off of the year we went from a super heated market to stone cold the big question in real estate circles is how the Sacramento market will perform in 2007. The Sacramento Bee’s story this morning by Jim Wasserman, “Hope seen on home front,” details the slowing of price declines in January. There are others who don’t have as much hope for the market and continue to pound the collapse mantle by pointing out the increase in foreclosure activity as the tool of doom.

Looking at MLS data released earlier this week by the Sacramento Association of Realtors showed new listings in January up over 75 percent from December and an almost 20 percent growth in inventory. This is normal and expected as we move out of the holiday season and end of year rush. Compared to January 2005 there were less new listings (2.9 percent) and current inventory is down 4.8 percent from last year to 4,926. The median price paid in January is virtually the same as December but down 3.5 percent from 2005 to $355,000. The complete report is available on the SAR website.

In Placer County the MLS data for single family homes shows the same pattern as Sacramento County. There were 826 new listings in Placer County during January. This is more than twice the amount as reported in December but up only 48 listings from last January. Inventory was up 3.4 percent to 2,178, from December and up 17.5 percent from a year ago. During January there were 211 closed transactions accounting for a median price of $430,000. This is a 30 percent decline in month-over-month closings and 2.2 percent decline in the median price paid. Compared to a year ago the current closings are down almost 14 percent and the median price paid is off 6.9 percent. The above MLS data is available on the Placer County Association of Realtors website.

A quick review of some of the communities in Placer County shows some interesting numbers and leads to a question regarding the quality of reported values when looking at small samples.

In Roseville we lower had lower year-over-year sales in January compared to last year, higher pending and an increase in available inventory. There were 73 homes sold in Roseville during January with a median price of $415,000. This is decline from last year’s January median of $432,500.

Rocklin MLS data shows a modest increase in sales this January compared to last year. The trend continues when looking at pending sales which is reported up 3 sales to 52 compared to last year. There is also a small increase in listings this year when compared to last year, with 236 homes reported as available for sale. Unlike most areas the median price paid in January for a home in Rocklin was up compared to last year. The Placer County Association of Realtors reports a median price increase of $20,000 to $445,000.

The median price in Granite Bay also showed an increase compared to last year. The January MLS data reported a median price of $802,500 compared to $705,000 a year ago. Remember these numbers are computed on a small number of sales and can be misleading. In January of this year there were 18 sales compared to only 11 last year.

Many pundits argue that real estate is local and looking at National, State or even County or City results can’t be used when doing analysis on a neighborhood or single property. The reports for small communities and zip codes often do not have a sufficiently large enough sampling to make accurate statements about pricing trends. The home value site, Zillow has developed a home valuation index they call Zindex in an effort to set a median value on all homes in a given geographic area not just the homes that were sold during the period.

Regardless of what you think about Zillow, their Zestimates it is an interesting concept and worth looking at.

In Sacramento County where we just learned the median price paid for a home in December was $355,000 the Zindex for the same area at the end of the year was $357,148. By the way this is down from $371,148 reported at the end of the third quarter of 2006 and down 6.74 percent from the previous year.

The reported Zindex for Placer County was $460,466 at the end of the year. This compares to MLS data median price paid in December of $430,000. The Zindex value was down 5.11 percent quarter-over-quarter and off by 5.97 percent from last year.

Going down to the community level and looking at my example above, Granite Bay, we find MLS data on 11 sales in December 2006 yielded a median price of $705,000. The Zillow Zindex reports a Granite Bay valuation of $703,382.

Based on this cursory review it would appear that although the numbers come different methods the MLS data and median price determined by the homes sold during the period is not inconsistent with the Zillow valuation method. This is something that clearly requires additional examination and watching. If you are interested in looking at the full Zillow report on the Sacramento area it is available for download on their site.

Based on all of the above it does appear that prices in Greater Sacramento area are beginning to stabilize. Inventory is, as expected, increasing as we leave the holidays behind and head into the spring selling season. The sales activity is still anemic but reports from agents I have come in contact with over the past few weeks indicate things are picking up. The next 60 days of sales activity will be impacted by the weather. If we continue to have some dry days we could see a nice increase in sales. If on the other hand it starts to rain and continues like it did last year, it may be late March or early April before the buyers come out to look. January looks much like some of us expected, but it is clearly too early to set the tone for what we will see all year long.

Julie Jalone is an experienced professional Realtor® serving the need of buyers and sellers of residential real estate in the Greater Sacramento area including Placer and El Dorado counties. Some of the communities served by Julie include Sacramento, Roseville, Rocklin, Lincoln, Loomis and Granite Bay. Julie is a wife and mother living in Rocklin. To learn more about Julie, visit her website, http://www.jalone.com, which includes current listings, home search, news, resources for buyers and sellers and her daily blog, ”Keep it Real in Sacramento.”

Posted in Outdoors | No Comments »

Buying A Home Without A Realtor May Cost You Money

Saturday, October 6th, 2007

Did you know that buying a new home without a Realtor may cost you money?

“Most people think that you don’t need a Realtor to buy a new home, and that if you don’t use one, you can save money. Nothing could be farther from the truth.” says Brian Marsh, a Realtor who has actually been that new home salesperson for the builder. “What new home buyers don’t understand, is that the builder’s salesperson is not looking out for their best interest, but rather the builder. The salesperson has a fiduciary obligation to the builder to sell the home at the highest price. And, unfortunately, some builders, feeling the pinch of increasing competition and higher materials cost, are taking advantage of the buyer in what amounts to tens of thousands of dollars on some transactions.”

“A professional Realtor, who is skilled in negotiation, the ins and outs of the building process, and who’s experience lends him a first hand knowledge of the pit falls, traps, and advantageous options that are common in new home sales can be invaluable to the client.”

Doesn’t the builder raise the home’s price to pay for the Realtor’s commission?

“Now days, builders are very reliant upon Realtors, with Realtor business
accounting for more than 80% of sales for some builders. Builders can’t afford to lose their business by cutting the Realtor out of the process. Most builders completely separate the Realtor’s commission into their marketing budget, so that the temptation to cut out the Realtor isn’t there. And in fact, legally, they can’t - in many states, it is illegal to pay commission to anyone from a Real Estate transaction unless they are a licensed real estate practitioner. Unfortunately, at the salesperson level, the customer may be told that if they don’t use a Realtor, that the salesperson will give them the commission. In reality, the salesperson would have given them that much and more off the home anyway, if the customer knew about special pricing, incentives, and realistic market rates.” “While some new home salespeople like their customers having a Realtor to make the process go smoothly, other, more unscrupulous salespersons would do just about anything to get the Realtor out of the process so that they can take advantage of the customer’s lack of resources and insider knowledge.”

What is the new home buying process like today? Aren’t most people using the internet to buy a home?

“They are, and it’s changed the way successful Realtors do their job. The day of Realtors acting as a Taxi service / Home directory is over.” says Brian. “You still see some old timers providing this kind of service, and for some people, it’s needed. However, most buyers today are sophisticated, knowledgeable buyers who spend many, many hours scouring available homes and information on the internet before ever contacting a Realtor. Since the client knows their own needs, they are often the one who does the footwork of looking at homes now.”

Then what does the Realtor do?

“With the advent of the internet also came a much more complicated home buying process. Today’s successful Realtor must not only know how to view homes on the internet, but know how to use that technology combined with local market knowledge to weed out bad homes, give accurate price comparables, keep their client away from bad builders, and market the buyer’s existing home.” “Really, the Realtors job has progressed from a subset of 10-20 functions to a subset of 100+ functions. The Realtor who isn’t harnessing technology, assistants, and 3rd party professionals just isn’t able to give their clients the service they deserve.” “And buyers who seek to play the buy or sell it myself route are treading on thin ice.” says Brian. “While we’d all like to save money, not using a Realtor is like not using an attorney. You might luck out and escape the process without being harmed, but the chances are that you’ll lose big, and often not even realize it until you sell your home years later. In fact, a study from the National Association of Realtors showed that homeowners sold their home for 16% more when they used a Realtor. That’s why most experienced buyers and sellers use a Realtor. Sometimes they’ve had to learn this the hard way.”

Brian Marsh is the “Chief Visionary and Realtor” with the Brian Marsh Group in the Dallas, TX area. Brian has used his more than 20 years of Sales experience and technological know how to build a team that harnesses technology, assistants, and 3rd party professionals to provide a very powerful and seamless transaction for their residential and investment clients. If you’d like to read more of Brian’s insightful real estate advice visit his Real Estate blog at http://www.AggressiveHomeSales.com/Blog.html or visit his website at http://www.AggressiveHomeSales.com

Posted in Outdoors, Real-Estate | No Comments »

Real Estate Hamilton MI: Whether You’re Trying to Sell Your Home or Want To Buy One

Wednesday, October 3rd, 2007

When it comes to real estate, Hamilton, MI might be a good place to buy right now. If you are searching for Hamilton real estate, MI real estate, or real estate anywhere, you may want to consider a lease option agreement. Whether you are buying or selling, a lease option agreement can be beneficial.

Hamilton is a community in Heath Township of Allegan County. Early settlers called the village Rabbit River, after the river that runs through the area. The name was changed to Hamilton in 1870.

While the majority of the county was primarily agricultural for many years, it is quickly becoming a kind of “suburb” of both Grand Rapids and Kalamazoo. Tourism is growing along the Lake Michigan shoreline and the number of vacation homes in Allegan is rising.

In a recent internet search for real estate, Hamilton, MI showed 72 homes for sale and 6 in foreclosure or pre-foreclosure status. As with most of Michigan, automobile industry lay offs and a reduction in manufacturing of all types has left many people unemployed.

Most experts blame the troubled economy for lower average selling prices for Hamilton real estate. Michigan residents are having some problems right now, but things will undoubtedly improve, as cities and towns become more economically diversified.

In Kalamazoo, the breweries and spice manufacturers are doing well. The Upjohn Company, which is now a part of Pfizer Pharmaceuticals, is a major employer and has attracted a number of research, biotechnology and chemistry companies to the area over the years.

Residents of Grand Rapids have probably been more affected by the decline in manufacturing. But, the city has had some recent success in attracting and developing new business, particularly in the health sciences fields.

All of this means that it may not be a good time to sell, but it is definitely a good time to buy. If you work and live in the area and are still paying rent, you may want to think about the future. While prices on Hamilton real estate (MI real estate in general) are down right now, they should improve over the next several years if the economy rebounds.

The region is popular for its numerous festivals and 45,000 acres of forest, as well as its proximity to Lake Michigan. As the economy throughout the state improves, land values and home prices will once again begin to rise. Most people who have homes on the market, however, cannot wait for years to close the deal. This is one reason that lease option agreements are becoming increasingly popular.

A lease option agreement benefits the seller by putting a potential buyer in the home to take over the monthly payments, and for a selling price closer to fair market value. On the other hand, they are also beneficial to buyers that do not have a substantial down payment, are working to repair their credit (and therefore can’t obtain traditional bank financing right now) or simply want to “test drive” the home before they make a long-term commitment.

The particulars of a lease option agreement vary. They can be negotiated, just as any contract can, until all parties are satisfied. There is one major component that all of these contracts have in common; a portion of the monthly rent is set aside towards the eventual purchase of the property, which gives the buyer the feeling of true ownership because he or she is building equity.

If you are still renting, because you have problem credit, it is generally easier to get into a lease option agreement. Plus, over the year or two that you spend in this “rent to own” agreement, you can learn how to repair and improve your credit, and real estate investors like us can show you how to do this.

Even people with “not so bad” credit can get better interest rates by improving their credit scores. The lower the interest rate, the lower the monthly payment and the total savings over the life of the mortgage can be thousands and thousands of dollars.

Trying to sell Hamilton real estate, MI real estate, and real estate in many areas of the country can be extremely frustrating, as listings stay in the classifieds for months and months on end. Advertising a lease purchase agreement can attract more buyers and get your property off of the market more quickly.

It can be just as frustrating to try to buy real estate. Hamilton, MI is a really nice area. The prices are right for buyers right now. A lease option agreement can help the buyer and the motivated seller who needs payment relief and is willing to work on terms.

Let experienced Michigan real estate investors help you sell your home via a lease option or help you buy a home on lease option even if you have bruised credit.

Dan Ho is a real estate investor in Michigan. Visit real estate hamilton MI to learn more about the advantages of doing a lease option (aka rent to own) for both sellers and buyers of Michigan homes. http://www.buy-sell-michigan-real-estate.com is the definitive source on the web for motivated sellers and buyers in Michigan who need solutions to their problems.

Posted in Currency-Trading, Outdoors | No Comments »

« Older Entries
Newer Entries »