St George Real Estate

Tips For Today’s Home Buyers

realtor.com — Sun, 05 Jul 2009 15:00:34 +0000

Changes in the Real Estate and banking industries have made many home buying customs obsolete. For instance, in the past, a buyer would find a home before applying for a loan. However, competition for desirable properties and tight lending guidelines man that buyers must first qualify before the seller will consider an offer seriously. However, some home buying essentials remain constant and following them will help keep you from becoming apart of the growing number of people losing their homes.

Jim Starwalt posts great tips for home buyers:

“With the recent shakeup in real estate markets across the country comes a new world - one that includes fewer exotic home loans, greater regulation, new pricing and different expectations of home appreciation. Ironically enough, the freshest advice for today’s potential home buyers lies in sound fundamentals their grandparents may have used when purchasing their own homes decades ago. Here are time-honored home buying essentials that apply now more than ever.”

Buying a home that fits your lifestyle is important to keep in mind as the economy continues its rebound and job losses remain high. Following classic advice like saving up a down payment to pay down your mortgage will pay off in the long run as equity builds in your home. These simple tips are fundamental for homeowner who are serious about keeping their home.

Click through to read Jim Starwalt’s full blog.

Real Estate is A Great Investment Today

realtor.com — Sat, 04 Jul 2009 15:00:41 +0000

The Real Estate market has always had its share of ups and downs. This cycle is obvious to any REALTOR® that has been in the business for some time. Despite currently declining home values nationwide, most homeowners are untroubled about the value of their home because they’ve watched their home’s value rise and fall through the years. They also expect the value to return as the economy strengthens. First-time buyers are taking advantage of the Real Estate cycle as they rush to get homes that will undoubtedly gain equity in the coming years.

Gordon Inman explains why home ownership is still a good long-term investment:

“One of your primary reasons for owning a home is the investment – money. You accumulate equity in your home; you save in taxes by owning a home and why pay more money to rent when you can pay less to own your property? Equity is the value of your home. Your home is still the best long-term investment you will ever make. Over the years, home prices have skyrocketed and plummeted and will continue to do so. But property is always valuable no matter what. The key to a home’s value is location, upkeep, upgrades, amenities and appeal; each of those items will play a part in your profits. Look at today’s economic mess; we’re sitting in a buyer’s market and even with plummeting prices and a sad stock market, homes are still a value to someone. “

Home ownership has become easier with low prices and government incentives. This investment will pay off for those who can obtain a loan under the strict guidelines. These new buyers may keep their homes for decades or decide to sell on the next upturn, but either way, their investment will have paid off.

Click through to read Gordon Inman’s full blog.

Obtaining A Mortgage In Today’s Real Estate Market

realtor.com — Fri, 03 Jul 2009 15:00:43 +0000

Although mortgage interest rates are expected to stay stable for the next few months, the recent rise has led some would-be buyers second guessing as they go through the complicated process of obtaining a loan. Yet others are rushing to their lenders to take advantage of the rates before they go up. With lending guidelines tightening, the approval process has gone from a quick stop at the bank to a lengthy and time-consuming review of work history, credit, and debt-to-income ratio. Understanding what to expect when getting a mortgage will help you prepare for the process.

Mary Wassef posts what you can expect when getting a mortgage today:

Getting a mortgage. To some of us it is a unsettling process full of trepidation and fears. For others it is just task to be done. So what should you plan on running into if you are about to take advantage of good interest rates and buy a home? What should you be mentally prepared for in the process? Well a lot- but don’t let it overwhelm you or stress you out. Certainly don’t let the idea of obtaining a mortgage stop you from buying a home. Instead, realize that there is a set process that is followed. Let the process run itself and accept that you just have to wait for all of it to work its way through a byzantine system of layers. The days of quick review are past and the former legions of staffers sitting around waiting to process things has vanished. Yet the number of loans being processed is very high. Not because there is an unknown housing boom but because there is an unknown refinance boom, taking advantage of rates before they go up!

Getting a mortgage is the first of many overwhelming steps when you are buying a home. Don’t let feelings of confusion and frustration keep you from achieving your dream of homeownership. Learn what is required from you and the time frames involved so you can stay one step ahead.

Click through to read Mary Wasseff’s full blog.

Home Buyer Tax Credit Could Rise To $15,000

realtor.com — Thu, 02 Jul 2009 21:25:00 +0000

First-time buyers have helped spark a modest comeback for the housing market. Spurred by incentives like the $8,000 tax credit, first-time buyers now make up 4o percent of all home purchases, according to the National Association of Realtors® . With the credit expiring in the coming months, talks of postponing the expiration date and expanding the credit to $15,000 have begun.

Brian Smith gives us the details on this landmark proposal:

So, the tax credit for home buyers that was first introduced in July of 2008 and expanded this last February is being discussed again in Congress. There has been a few suggestions in how to reform it. I’d say the least controversial, and the reform I’d stand the most behind is extending the tax credit until 2010. However, I’d want them to wait to do so until the last moment. My reasoning for that is as an agent, I believe that some people need encouragement to get off the fence. While I don’t believe anyone should purchase before they’re ready, a simple excuse like $8,000 could be all some people need in order to seriously consider the question. With the extention of the tax credit, many of those fence sitters will continue to waiver for another year. The biggest downfall to extending the tax credit (as with most of these bills) is the increased spending by our government. That money will have to be paid back someday and I’m sure I’ll be of them helping pay it back.

Expanding the credit to all buyers and raising it to $15,000 could be the what brings down inventories and creates stabilization in the housing market. Opponents of the proposition are unsure where the money for such a costly bill will come from.

Click through to read Brian Smith’s full blog.

REALTORS® Are New Users of Facebook

realtor.com — Thu, 02 Jul 2009 13:00:30 +0000

A recent survey by the National Association of REALTORS® found that only about a third of Real Estate professionals are taking advantage of social media. This number is surprisingly low when you consider 89 percent of home buyers start their search online. In face, 71 percent of REALTORS® who are 29 years old and younger are on social networking sites, showing that that younger Realtors are quicker to adopt the new media. However, it isn’t only Generation Y that is getting involved. Even Realtors with 30 years of experience are finding it necessary, and extremely useful to their business, to join social networking platforms. Jo Cross decides to grow her business through Facebook and Twitter:

“After being encouraged by numerous friends, I finally threw in the towel and joined Facebook. This is an interesting vehicle. It didn’t take me too long to enter the basics, then next thing you know, I’m sitting here for an hour or so editing and adding more data. Just then, my curiosity got me. I started looking for people I knew. Wow, I found two cousins I haven’t seen in over 40 years. Gosh, I sure hope they let me be their friend again. Just two days later, I heard from one and we have connected once again. Amazing! Looks like I’ve made some new friends, too. Other Keller Williams Realty family members asked me to be their friend. Gee, I’m beginning to feel like I’m in ‘Mr. Roger’s Neighborhood.’ It’s amazing and I’ve only been online a short time.”

Realtors who have been networking face-to-face for years are already primed to make a big splash as they jump into social media. Find your existing contacts online and build your network fast. Take your offline personality and put it online, and let clients connect with you. Click throug to read Jo Cross’ full blog. Sign up for a free Featured Blog on Realtor.com today.

Home Staging Invites Buyers Into Your Home

realtor.com — Wed, 01 Jul 2009 21:00:15 +0000

Before gaining popularity and becoming the theme for several HGTV shows, many homeowners were skeptical about the impact home staging would make on prospective buyers. Barb Swarz is credited with inventing home staging in 1972 and starting the International Association of Home Staging Professionals, which now has over 9,000 members. Did you know a form of home staging has been around for thousands of years? Roberto Gonzales blogs about his first experience selling a home that has been staged with Feng Shui:

“I recently had a listing that makes me realize how important the feeling of a home is. It was a very peaceful feeling, as I enter this home, this very pleasant, very open feeling. Even though the house was small, the atmosphere was terrific. I noticed a center fireplace in the family room, the colors throughout the house were all earthy, it was like everything was in perfect harmony with all the pieces on the walls as well as furniture. Nothing fancy, just simple. Then the owner ask edme if I ever heard about Feng Shui, so my answer was no, and she explained to me in great detail all she had done to the house. We had 5 showings, and everyone said they loved it. We got a contract in less than 30 days–did you think this could be possible? Well I do, so now my first advice to my sellers is to rearrange some things in the house. Less is more, and do not overdo with personal touches.”

Home staging has become a must for sellers who are looking for a speedy sale and increased value. Whether your technique is modern and savy or rooted in an ancient culture, creating an inviting atmosphere will help buyers visualize themselves in the home. Click through to read Roberto Gonzales’ full blog. Sign up for a free Featured Blog on Realtor.com today.

Real Estate Discounts Attract Buyers

realtor.com — Wed, 01 Jul 2009 13:00:35 +0000

Investors and first-time buyers are taking advantage of the deep discounts being offered in hard-hit areas across the country. Leading the way are California and Florida, where REALTORS® are reporting increased closings month-over-month and rising pending sales. Aiding in the resurgence of activity are government-backed incentives like the $8,000 tax credit. Peter Zalewski and Condo Vultures Realty reports on the drastic reductions South Florida is seeing:

“Nearly 900 residences in the Vultures Database have closed in the first five months of 2009 at an average discount of $357,500, or nearly 54 percent, a dramatic change from the average price reductions of 44 percent in 2008 and 29 percent in 2007, according to a new report from Condo Vultures® LLC. Buyers closed 232 single-family houses, condos, and townhouses in the tri-county South Florida region of Miami-Dade, Broward, and Palm Beach counties in May for a daily average of 7.5 transactions. In April, buyers closed an average of 7.0 properties per day. The running average in the first five months of 2009 is 5.9 closings per day on properties in the Vultures Database, according to the report.”

Increased sales are even more impressive when you consider how strict lending guidelines have become. Seemingly undeterred, buyers are using the summer months to search for great deals in Real Estate. Click through to read Peter Zalewski’s full blog. Sign up for a free Featured Blog on Realtor.com today.

Real Estate Predictions Focused on Local Market Data

realtor.com — Tue, 30 Jun 2009 22:06:54 +0000

The ongoing debate over property values and the elusive bottom of the market continues to keep some buyers from entering the market. Mixed data and pockets of unaffected areas paint a skewed picture as foreclosures continue to impact median home values. Overall, home prices have fallen 32 percent nationwide with a projected 10-15 percent left to fall over the next year. Keith Vermilyea posts an article from the Associated Press addressing the bottom of the market:

“Have property values hit bottom? A lot depends on how long the recession lasts and its severity. Is the historic U.S. housing market crash close to being over, or is the end still far, far away? While sales finally seem to be stabilizing, prices still are likely to keep sinking well into next year and maybe longer. Prices have been cut in half in Las Vegas and Phoenix, according to one popular home price measurement. But statistics like these mask the many complexities involved in trying to measure U.S. home prices. Every home price gauge captures a somewhat different slice of the housing market, even when they all depict the same general trend.”

With so many different markets, all with their own character and trends, national data can be deceiving for homeowners. In this situation it is imperative that REALTORS® learn as much as they can about their local market so they can be a real resource for clients and others reading their blog. Real Estate is a local phenomenon and only a qualified Realtor has the expertise to explain how market data effects a buyer or seller. Click through to read Keith Vermilyea’s full blog. Sign up for a free Featured Blog on Realtor.com today.

Will This House Sell?

realtor.com — Tue, 30 Jun 2009 17:48:52 +0000

Being a REALTOR® can be a juggling act as you schedule, plan, and prioritize your day. Working with a challenging client can make your job almost impossible as you try to work around everyone else’s schedule and not waste too much time. But when you are working with a homeowner that just won’t cooperate, what are you to do? When you factor in today’s marketplace, adding in uncompromising clients makes your job that much more demanding.

Beverly Meaux asks sellers, “Why do you say you want to sell your house, when you don’t?”:

“If you ask 100 real estate agents, I bet the majority would give you the following as three of the biggest pet peeves when showing houses: 1. Hard to make an appointment to show; 2. the feeling of intrusion; and 3. making friends with the family pet. My partner and I cover most Northern New Jersey towns like West Orange, South Orange, Maplewood, Millburn/Short Hills, Verona, Nutley and the like. Things may differ in other parts of NJ or the country but I know real estate here and can tell you these pet peeves make it hard for real estate agents to get homes sold. And, isn’t that suppose to be the goal if you put your house on the market to sell in the first place? It sometimes feels that sellers feel so inconvenienced about selling their homes that they really want to shout out, ‘Come on, I dare you to show my house… and, if you do, you better deal with the way we are!’”

In this current market, many sellers are having to reduce prices by up to 20 percent to stay competitive with short sales and foreclosures. Having to drop the price that much can be a hard pill to swallow. Fortunately, not all buyers are looking for a bottom line. Many still want to find a home that’s perfect for them and are willing to pay what the home is worth to get it. Sellers should do what they can to help their agent and remove every obstacle that might keep a potential buyer from falling in love with their home.

Click through to read Beverly Meaux’s full blog.

Showing Appointments Vs. Open Houses

realtor.com — Tue, 30 Jun 2009 13:00:13 +0000

With the majority of home buyers starting their home search online, traditional forms of advertising have become less popular. Open houses, for instance, used to be standard practice for all REALTORS® and a weekend morning adventure for buyers. These days, however, open houses have given way to showing appointments, as buyers prefer to walk through homes that they’ve picked out ahead of time. This doesn’t mean open houses aren’t still be a helpful tool. Marilyn Bell reminds us of the many uses of holding an open house:

“Open Houses are a good opportunity for sellers as well. I just hosted an Open House for one of my sellers. I told her on the front end when I took the listing that I don’t normally do Open Houses. I told her I will be happy to do it for her if she wants all the ‘lookie-loos’ in the neighborhood to come check out her house. Sure, I told her, buyers come through too, but if the house fit their needs and/or wants, they would make a showing appointment. You may get an offer via an Open House, but that offer would have come through a normal showing if the Open House wasn’t offered. In this case, we decided to do it for another reason. The house has been on the market for much longer than I expected. Through my follow-up with the agents who have shown the home, I discovered a pet odor had developed.”

Finding new uses for old techniques is a great way to cover all your bases. In this case, Marilyn Bell can be sure she is using every tool in her marketing arsenal to sell this home. Click through to read the rest of Marilyn Bell’s blog. Sign up for a free Featured Blog on Realtor.com today.