Some buyers are solving their house-searching woes through prose. They’re not writing poems or romantic novels — just notes to sellers, telling them how happy they’d be to buy their homes, 

The simple gesture is paying off in today’s ultra-competitive market, where inventory is tight and bidding wars are typical.

“Money talks, but a letter gives a human element to an offer,” said Michael Citron, a real estate agent in Broward and Palm Beach counties. “Sellers want to sell to a buyer who they’re comfortable with and can relate to.”

Cynthia Kelley said she fell in love with a four-bedroom home on Northwest 99th Way in Coral Springs as soon as she saw the “doggy doors” and the big back yard.

But four other buyers also wanted the home. So her agent suggested she write a letter, explaining to the seller how much the home would mean to her — and to her dogs.

“I have three golden retrievers myself and know they would be in heaven with all that fabulous space to run and play,” she wrote.

Kelley, 48, included a photo of herself with the pooches and also explained that she is a reserve army nurse who is ready to buy after enduring some financial hardships when she was called to active duty from 2005 to 2007.

“I was hoping to appeal to their personal side,” Kelley said.

She submitted a strong offer, which was the most important factor, said Clayton Banks, the seller. But her note confirmed for him that she was the right buyer. The deal closed Friday.

“It made us feel better about selling to her,” Banks said.

Writing a letter probably is one of the easiest things buyers have to do to land a home these days, said Samantha DeBianchi, a Fort Lauderdale real estate agent.

Buyers also have tried to be more accommodating to make sure a deal works out. In some cases, they’re giving sellers more time to move by allowing them to stay in the homes after the closing. Lawyers typically advise against these post-occupancy agreements, but buyers are willing to do it because so few properties are available, agents say. If that’s what it takes to get a deal done, then so be it.

Sometimes even pets are part of the deal. One of DeBianchi’s clients had to adopt the seller’s cat as part of the purchase. The client was a dog owner, but she agreed to the deal.

“This is just how it is,” DeBianchi said. “Sellers are completely in control.”

A letter from a buyer probably won’t make a difference if the offer is considerably lower than others that the seller has received, agents say. Nor will a letter sway a lender, which wants the highest price and the easiest closing possible and rarely lets a home sale get personal.

But many traditional sellers feel attached to their properties and don’t want to unload to just anybody, said Judy Trudel, an agent in Lighthouse Point.

“Sellers want to know the buyer will live in and enjoy the home as much as they did,” Trudel said.

Heather Cameron found a quaint, three-bedroom home in Coconut Creek, but the sellers had received multiple offers.

Cameron, a fan of HGTV’s “House Hunters,” saw that an eager buyer on the show wrote a letter to a seller, so she figured it was worth a try.

Cameron began by complimenting the sellers on the home and explained that she and her fiance, a Fort Lauderdale police officer, hope to buy before they get bogged down in wedding plans.

She added that they want to start a family, and the home would be perfect because her sister lives in the same community.

Within hours of receiving the letter, the sellers accepted the offer.

“Everyone told us horror stories about buying a home,” said Cameron, 23, an event planner. “But this was the easiest process.”

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Uncertainty over federal actions remains a big hurdle

Home sales are on a sustained upswing, with solid gains in volume and price predicted for the next few years thanks to improved market fundamentals. But whether the federal government will derail further improvement remains a question, REALTORS® heard Thursday.

Existing-home sales are expected to hit 5 million at the end of this year and then grow to 5.3 million in 2014, up from 4.3 million in 2011, National Association of REALTORS® Chief Economist Lawrence Yun told a packed audience at his residential economic forum at the 2013 Midyear Legislative Meetings & Trade Expo in Washington.

View slides from Yun’s presentation.

Price appreciation will be strong, too. Yun said he expects gains of 8 percent this year and 5 percent next year.

The strong price growth reflects the overly tight inventory conditions in many markets, Yun said. And that’s not a healthy condition. What’s needed is a return to the market by small builders, but they can’t get financing because community banks, leery of banking regulations coming out of Washington, aren’t lending.

Until that regulatory uncertainty clears up, only the country’s largest builders, which have access to Wall Street bond financing, will be building. As a result, although building has picked up in the last year after years of flat-lining, the number of new units is barely at replacement level. To meet the pent-up demand that’s in the market right now, builders need to get some 1.5 million units on the market. They’re only getting about 1 million right now.

The good news is that the housing recovery is based on deep-seated improvements in market fundamentals. So as long as the economy stays on track, which economists generally say will be the case, the housing market should continue to improve well into the future.

To the extent that there are market risks, they largely stem from the federal government, which continues to look at ways to reduce its budget deficit. Washington is also writing rules to protect against future mortgage market problems.

Will the government pare back the availability of Federal Housing Authority financing through tightened lending rules? Will it require banks to meet stringent capital standards and underwriting requirements under Dodd-Frank Wall Street reform rules?

Another unknown is whether the government will it impose strict limits on the points and fees lenders charge for loan originations–what Yun called a kind of price control that could end up dampening loan availability.

Until these and other uncertainties are cleared up, the improving market will face headwinds, Yun said. As a result, although the market should continue improving, its gains are unlikely to be as robust as they otherwise would be.

—Robert Freedman, REALTOR® Magazine

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Some buyers like to make offers even if they haven’t a chance because they feel it gives them a chance to “get their feet wet”.  The problem with this approach is that after slogging through the mud and losing out four or five times, you may feel burned out and drop out of the house hunting search altogether.

Feel free to contact me for your real estate questions or needs at 800-250-8766 ext 20, 760-705-4529 mobile or Jay@AnthonyRealEstate.net. There is no cost, obligation or pressure.

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Pinpointing the buyers most likely to purchase your home and marketing specifically to that group is a tool that real estate professionals use all the time.  Below are two crucial steps to identifying potential buyers of your home, appealing to the people most likely to purchase your property and selling your house quicker — which means claiming your pot of gold. 

1.       Identify the lifestyle fit. Think back to when you initially bought the property and what qualities caught your eye.  Were you a single man looking for a bachelor pad or an empty nester looking for a place to retire?  Coincidentally, whoever buys your Escondido home will probably have a lifestyle similar to the one you had when you bought your home. So, be sure to highlight attractive features, such as a game room for a bachelor or one-level living for a retiree. 

2.       Notice the neighborhood.  Once you’ve identified the type of buyer, it is important to examine your neighborhood.  People want to live in areas where they have the amenities they need.  Do you live close to a good school?  Is a new shopping development going in right down the road?  Are there multiple parks within walking distance?  These can all be things that attract the right buyer, but are often left out of advertising. 

Do not count on leprechauns and luck to sell your Escondido home!  While your buyer could turn out to be the complete opposite of your target market, you are more likely to have house-selling success if you reach out to a specific demographic.  

If you could use help developing a marketing strategy to sell your real estate, please contact me at 760-743-0057 ext 20, office, 760-705-4529 direct or email me at Jay@AnthonyRealEstate.net today.  There’s no cost, obligation or pressure to discuss your real estate needs. 

USEFUL LINKS: 

Neighborhood

http://checklist.com/neighborhood-checklist/ 

Good school

http://www.greatschools.org/

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 If you try to sell your home without the services of a real estate professional, there’s a better than even chance that you’ll set the wrong selling price.  The selling price, by the way, is the most important factor in the whole sales process.  

Most owners base their price on the only facts known: original cost, improvements, and hoped-for-profit.  Then they factor in what they “think” similar houses are bringing.  Unfortunately, the first three are irrelevant and the fourth is highly dubious. 

The original price, improvements, and hoped-for profit have nothing to do with the right price to produce a sale.  Prices of other homes may give you some clue to the market, but you only hear the “asking price”.  It may not be realistic and most likely won’t be the selling price. 

How then do you set a realistic price?  By consulting a local, professional Realtor whose business it is to know how much property can bring and will bring.  His or her knowledge of the market is invaluable. 

Feel free to contact me for your real estate questions or needs at 1-800-250-8766 ext 20 office, 760-705-4529 direct or Jay@AnthonyRealEstate.net.  There is no cost, obligation or pressure.

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