Marketing A Home - Accentuate the Positive!: 5 Keys

Many homeowners, seem to falsely believe, all they need, to sell their home, is to, either have it listed by a real estate agent, or do so, themselves, as a so - called, FSBO! However, after over a decade as a Real Estate Licensed Salesperson, in the State of New York, I have discovered, one of the most necessary, essential components, of this process, is to professional, market it, in order to achieve the most desirable results, which for most sellers, is to get the highest possible, available price, in the shortest period of time, with the least amount of hassle, and/ or, additional stress! Quality real estate agents consider, how to best do so, by accentuating the positive features, and reducing distractions, etc. With that in mind, this article will attempt to review 5 keys, to doing so.

1. Curb appeal: If you can't get potential, qualified buyers, to come in, to view the house, you won't get it sold! Why would anyone be attracted to see more, unless/ until, he sees pictures, online, which inspire and motivate him, to take it, to the next step? This must begin, with paying, keen attention, to curb appeal, which means, what someone sees first, when they approach the house. Reduce potential negatives, including exterior painting, unattractive doors and/ or windows, concrete and paved areas, lawns and shrubs! Consider, whether your listing price, attracts, or hurts!

2. Eliminate any negative distractions: When/ if, anything distracts, rather than attracts, or at least, is neutral, it hurts the possibilities! Any distractions, including poor exterior maintenance, unkempt painting (interior or exterior), cracks in concrete or paved areas, clutter, distracting odors (unpleasant/ undesirable), should be addressed, as soon as possible!

3. De - clutter: Clutter is the enemy of effectively, showing, and marketing a house. Discuss this, objectively, with the agent, you hire, and if, there are major issues, understand the advantages, in certain cases, of using a home stager!

4. Paint, and touch - ups: When a house looks fresher, it attracts more individuals, to envision themselves, living there. Paint in a neutral color, to make the house, seem larger, cleaner, and better cared for. Touch - up, areas, inside and outside, which might benefit from a little attention!

5. Accentuate rooms which make the biggest difference: Kitchens and bathrooms, are generally, the two areas, most buyers, consider, most closely! However, balance the costs, with the benefits, and proceed, accordingly! The entry hallway should be clean, and neat, because you only get one chance, to make a first impression!

We often think of marketing, solely, as advertising, and promotion, but, unless/ until, one focuses on paying keen attention, to these 5 keys, it won't get the most desirable results! Homeowners should hire someone, who articulates a quality, meaningful, marketing plan, and strategy!

Housing Buyers Market - - - at least for a while

HOUSING BUYERS MARKET - - at least for a while

How does one really know when to buy or sell real estate? There are many factors involved, and without a crystal ball, you can't be 100% certain! Every day, the media publicizes a lot of confusing information, and it is very difficult for the average person to know what it really means.

We all know that during all of 2009 and most of 2008, in most areas of the country, housing prices have fallen, in most areas by more than 20% since the height of the market. However, many people tend to forget that the real estate market has experienced these down cycles before, albeit usually not as severely. What is unique about this "cycle"is that the dramatic drop in prices has been accompanied by record low mortgage rates! While one would logically think that would create a buyers market, the combination of high joblessness and under-employment, combined with the lower stock prices, and extraordinarily tight credit market (making mortgage loans much more difficult to get), has caused buyers market pricing conditions but neutral market market conditions. The number of buyers has been inconsistent - especially the number of qualified buyers. Buyers realize that they do not have to act with the urgency that they did when the market was higher because there are very few bidding wars out there. It took sellers quite a while to realize, or at least accept the fact that they were not going to be able to sell their houses at the pricing when the market peaked, and thus many homes either did not sell, or sold only after numerous price adjustment (PC way of saying "price drops"), and the number of days a listed home remained on the market increased dramatically.

Qualified buyers - - those with good credit (credit scores of 700+), at least 20% to put down, and sufficient demonstrable income - - got some "great deals." Lending institutions received billions to "bail" them out, but very little of this money went to loosening credit. Most of that money simply made the banks more profitable. The typical American's credit score was "arbitrarily" lowered because of how it is calculated, and the impact that most credit card companies lower the vast majority of individuals credit limits. This caused the credit ratios to change, and thus credit scores to be lowered. This, in turn, tightened the mortgage market even further, because individuals with seemingly good credit, saw their credit scores lowered because of bank policy that had nothing to do with them specifically. The continuous of this "circle of circumstances" was that this policy created even fewer qualified buyers, thus causing additional havoc in the housing market.

The fear of the recession and the joblessness rate created many potential buyers to shy away from house hunting. The Federal first-time housing credit, combined with the extension and enhancement of the program to cover many that have held homes for more than five years, has helped bring out some additional buyers. Since this program is, however an expiring one, scheduled to expire in mid-2010 (must be in contract by Aprkil 30 and close by June 30), there is an added incentive to buy a home. The indication that the recession has or is close to coming to an end, has created somewhat of an increase in consumer confidence, as has the general feeling that the joblessness rate has or neared its top, and should come down during 2010, should increase home buyin g in the next few months. The government has also indicated that it will exert pressure on lending institutions to make consumer loans, including mortgages, more readily available, which should also be a plus.

Therefore, with record low mortgage rates, low home prices, and a slight easing of the mortgage loan availability, combined with the tax incentive, the next few months should provide a limited window for qualified home buyers to take advantage of a great circumstance. Obviously, as the economy increases, and mortgage rates rise, and markets stabilize, the cost of home ownership will increase. A serious home buyer should take advantage of these conditions, before we return to less favorable buying conditions. Remember that the real estate market is cyclical, and there may not be a better time to buy a house for many years than there is today!

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30 Yr Mortgage Rates hit all-time low & other housing info

30 Yr Mortgage Rates hit all-time low & other housing info

Freddie Mac stated today that the 30-year fixed-rate mortgage average hit a new low. The 30-year average declined to 4.71% (with an average 0.7 point) for the week ending Dec. 3 from 4.78% last week. This new 30-year average is the lowest since Freddie Mac began its weekly survey in 1971. Last year, the average was 5.53%. Remember that this is the average 30- year rate, which means that many lending institutions are offering even low rates. Frank Nothaft, Freddie Mac's chief economist stated, "Low mortgage rates and the cumulative decline in house prices have contributed to an extremely affordable housing market and helped spur home sales this year . . . For instance, total new and existing home sales in October were 36% higher than their January low on a seasonally adjusted, annualized rate, according to the U.S. Census Bureau and the National Association of Realtors."
So, there is improving news in the housing/ real estate markets. The combination of the Federal housing tax credit, low mortgage rates, lower home prices, and some improvement in consumer belief that the worst of the recession is over, has created this improvement. As we enter the Holiday season, real estate "shopping" historically cools off until after the holiday season. However, this kind of news is hopefully a fore-teller of a better 2010 housing market.
Another promising indication is that the President is finally convening a Jobs-related summit for tomorrow, and hopefully, that will addressed the major weakness in both the housing market as well as the overall economy. Let's hope that our political leaders have finally understood that joblessness is what's keeping our economy from really growing, and they will address some real solutions to that situation. Amongst my suggestions: (1) Incentives for hiring in "progressive" industries, such as alternative energy, technology, etc-- that will NOT ONLY put people back to work, but also support industries will be necessary for the US to reach the next level. As an Ecobroker, I believe that incentives in "green-related" building and renovations will boost the economy, help the joblessness situation, and make houses more sustainable for now and the future; (2) Make the joblessness challenge the #1 Economic Priority; (3) Create incentives so that progressive industries benefit by hiring people, than by the cost-savings side-effects of layoffs. Let's put America back to work again!

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HOUSING NEWS UPDATE

The most recent housing report showed that sales for October 2009 were up 10.1% over October 2008. While that is certainly promising news, it must be considered in light of a few factors. The first factor was, of course, that October 2008 numbers were so dismal that even with an increase, there is plenty of room for improvement. Then, we must remember that some closings last month occurred as a result of the First Time Housing Credit, and the uncertainty at that time over whether it would be extended (remember it was originally set to expire at end of November). The continuation of historically low mortgage rates has certainly also helped. In addition, while sales were up, the average price of a house sold last month versus a year before is down, so, in other words, houses are still selling for less than in the past.
The good news are indications are that the worst of the recession is probably past us, consumer confidence seems to have improved slightly, mortgage rates should remain low for the foreseeable future (and hopefully the government will apply pressures on lenders to lend!), home prices are more affordable, the Home buying credit has been BOTH extend and enhanced, and most economists are calling for the U.S. economy to improve somewhat throughout 2010. The less-happy news is the high joblessness rate, the uncertainty in the economy, less than stellar public consumer confidence, and a seemingly prevailing attitude that "there is no rush" to do anything, and the overall wait-and-see attitude.
We have gone from a decade of a "seller's market" in the housing market, to a mixed market, to a buyer's market (where unfortunately NOT enough buyers are taking advantage - - - either being unwilling, afraid, or unable to). The real estate market has always been cyclical, and this market is the same in that way. We are probably at or near the bottom of the market now, and 2010 should probably see the beginning of the recovery. Those in a position to take advantage should do so now, because the combination of tax advantages, low prices and low mortgage rates have brought the true cost of home purchasing down significantly.
The industry and those interested in having a sound and robust housing market should implore their elected officials to address the most pressing economic issues now --- joblessness (and job creation), consumer confidence, responsible economic policies, and continued incentives that benefits consumers instead of just large corporations!

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The most recent housing report showed that sales for October 2009 were up 10.1% over October 2008. While that is certainly promising news, it must be considered in light of a few factors. The first factor was, of course, that October 2008 numbers were so dismal that even with an increase, there is plenty of room for improvement. Then, we must remember that some closings last month occurred as a result of the First Time Housing Credit, and the uncertainty at that time over whether it would be extended (remember it was originally set to expire at end of November). The continuation of historically low mortgage rates has certainly also helped. In addition, while sales were up, the average price of a house sold last month versus a year before is down, so, in other words, houses are still selling for less than in the past.
The good news are indications are that the worst of the recession is probably past us, consumer confidence seems to have improved slightly, mortgage rates should remain low for the foreseeable future (and hopefully the government will apply pressures on lenders to lend!), home prices are more affordable, the Home buying credit has been BOTH extend and enhanced, and most economists are calling for the U.S. economy to improve somewhat throughout 2010. The less-happy news is the high joblessness rate, the uncertainty in the economy, less than stellar public consumer confidence, and a seemingly prevailing attitude that "there is no rush" to do anything, and the overall wait-and-see attitude.
We have gone from a decade of a "seller's market" in the housing market, to a mixed market, to a buyer's market (where unfortunately NOT enough buyers are taking advantage - - - either being unwilling, afraid, or unable to). The real estate market has always been cyclical, and this market is the same in that way. We are probably at or near the bottom of the market now, and 2010 should probably see the beginning of the recovery. Those in a position to take advantage should do so now, because the combination of tax advantages, low prices and low mortgage rates have brought the true cost of home purchasing down significantly.
The industry and those interested in having a sound and robust housing market should implore their elected officials to address the most pressing economic issues now --- joblessness (and job creation), consumer confidence, responsible economic policies, and continued incentives that benefits consumers instead of just large corporations!

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SORTING THROUGH THE ECONOMIC NEWS

Last night, news media were reporting that they anticipated the jobless rate to rise slightly to 9.9%. At around the same time, it was announced that President Obama would today sign into law a bill that would: (1) extend unemployment benefit eligibility by up to an additional 20 weeks (meaning to a maximum of 99 weeks, if eligible- the maximum is for those 26 states where unemployment exceeds 8.5%); (2)extend and enhance the New Homebuyers Credit from November 30th until June 30th (This bill requires going into contract by April 30th and closing by June 30th). This bill will now NOT only provide first time buyers a tax credit of up to $8,000, but would extend to homeowners who've lived in their present home at least five of the last eight years (at a credit of up to $6,500); and (3) a modification of the law for businesses that have had losses to offset gains for more years back than the present law permits, thus hopefully freeing up cash flow for corporations.
Early this morning, the official joblessness rate was announced as a higher than anticipated 10.2%, the highest unemployment rate in 26 years. What is even more disconcerting is that this figure does not account for those no longer seeking employment, or working part-time, or in much lower positions. In addition, the average US worker's work-week is now averaging approximately 33 hours per week, one of the lowest averages in many years. One would therefore expect that the stock market would have a "correction" from yesterday's increase, and stock market indexes did indeed open sharply lower this morning.
What this means is that our political leaders need to seriously and immediately address the most urgent economic condition facing this nation today - - - unemployment and under- employment! While I believe the bill being signed today is both necessary and helpful, we now need to apply pressure on elected officials to use some "common sense solutions" to address both employment and other economic issues. Unfortunately, it is uncommon for political leaders to use "common sense." (Is a political leader using common sense an oxymoron?)
When I consult to a business, organization, or individual, I explore alternatives and explain all possible ramifications of actions or inactions. Isn't it about time our politicians did the same thing?

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It's Important to Extend & Expand First-time Homebuyers Credit!

As always, politicans are endlessly debating and posturing regarding the extention of the First Time Home Buyer's Credit, presently scheduled to expire on November 30th. It is interesting that there is still no extention, considering that most experts credit this Credit with reinvigorating a badly sagging real estate market. Nationally, it is estimated that home prices have now come back- to 2003 prices. The third quarter of 2009 actually showed an increase in sales, in most parts of the country.

However, there is still much uncertainty in today's economy. Polls show consumer confidence has not yet been restored, and that the major concerns are the recession and job security (high joblessness rate). Historically, a healthy housing market is essential to a properly functioning economy. While the stock market has come back more than 25% from its recent low, it is still far below the level of a couple of years ago. The extention of the housing credit is an effective way to keep the housing market stable.

At this time, we not only need an extention of the 1st Time Housing Credit, but an expansion of the program, so that more individuals are covered. Items that should be expanded include: Income requirements (allowable income should be increased); Broader, looser definition of 1st time Buyer should be utilized; Partial Credit should be considered for anyone purchasing more expensive house; etc.

I urge everyone to contact their elected officials as soon as possible, and urge them to both extend and expand the Home Buyers Credit.

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