6 Ways, Real Estate Is Local

Homeowners, considering selling their homes, should, recognize, consider, and understand, much of, real estate, is local! After, more than a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have often, been asked, why a particular house, does not appreciate, at the same pace, as, either, the national average, or certain, nearby neighborhoods. I explain to them, much about real estate, applies, in nearly every area, but a considerable aspect, to realize, and understand, is real estate is, to a very large degree, local. With that in mind, this article will attempt to briefly consider, review, and discuss, 6 ways, every local market is somewhat unique, and this, often impacts, pricing, etc.

1. Schools: Potential home buyers, especially those with, school - age, children, pay close attention, to the local school system, and how, it compares with surrounding areas. Many will pay attention to how, it impacts, their real estate taxes, and whether, they believe, this quality, is worth the price - tag. While there are pros and cons, when one balances the costs, versus the value, in most cases, neighborhoods, with the best schools, garner higher prices.

2. Safety: People want to live in areas, where they feel, safe and secure! Remember, there are public, published records, of how many, and the types of crimes, committed, in a particular region, and, in today's, digital world, potential buyers realize, they can find out, these types of things!

3. Taxes: Some houses, in some neighborhoods, are taxed, far differently, to similar ones, elsewhere. Since, the vast majority of home buyers, use some sort of mortgage loan, for a significant portion of their payment, the amount of monthly installment, required, is a significant, relevant one. Real estate taxes, might become a significant factor, in this consideration.

4. Transportation: Most want to live, somewhere, where transportation is convenient, but, they don't sacrifice, their peace, and quiet, by living too close to a major artery. For some, this means, convenience to access to highways, and/ or other significant roads, while, for others, it means, public transportation issues. Buyers are generally, willing, to pay, for this consideration!

5. Local economy: How do people, perceive the local economy, to be? How does it compare in one area, as opposed to others? How many potential buyers, versus properties, available on market, makes a significant difference!

6. Local job market: Is the local job market, and employment, stronger, or weaker, in this, specific region?

Much about real estate, depends on local issues, and markets! Those who understand, and pay keen attention, will better understand, the specific considerations, involved.

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!

The ABCDEF Of Effective Homeowner Representation

Since, for most people, the value of their house, represents, their single - biggest, financial asset, wouldn't it make sense, if a homeowner, who is considering selling his home, seek, and hire, the best real estate agent, who is ready, willing and able to offer effective homeowner representation? After, more than a decade, as a Real Estate Licensed Salesperson, in the State of New York (for more information, on all things - real estate, look at my website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE ), I have developed, what I've come to refer to, as the ABCDEF of effective real estate representation. 

1. Attitude; attention; articulate: Interview several real estate agents, and closely examine, and consider, their attitude, seeking only individuals, with positive, can - do, ones! Will the individual focus his attention on your needs, and priorities, and customize his service, to meet these? Consider whether someone, effectively articulates his ideas, and justifies his value, because if you aren't impressed, chances are, he won't attract others, efficiently, and effectively!

2. Benefits; best effort: Listen closely, and ask lots of questions! Does the individual speak about features, he offers, or how, his service and representation, will benefit you, and what those benefits, are? Will he accept, good - enough, or consistently demand his best effort?

3. Cooperative; clever; CMA; character: Agents should seek a cooperative, team approach, in a clever, outside - the - box, way! You need someone with the quality, of character, which benefits his clients! Listen to how he recognizes his Competitive Market Analysis, or CMA, and whether, his suggestions, are, both logical, and compelling!

4. Delve deeply; deliver: Avoid being represented by anyone, who offers, simplistic solutions, rather than delving deeply, and delivering, the finest service, and representation, on a regular, consistent basis!

5. Empathy; emphasis; excellence: When you interview potential agents, observe whether they are willing to listen, far more than they speak, so they become ready, and capable of understanding, your goals, needs, and priorities, and, will, therefore, exhibit the utmost degree of genuine empathy, you should be seeking, and deserve! How one empathizes, generally, directs their emphasis, and unless, it is on serving your needs, how will he, be able to provide the utmost excellence, you deserve?

6. Face facts; fruition; faithful: It is essential, for your representative, to be absolutely faithful, to his clients! To do so, he must possess genuine, absolute integrity, a willingness to face the facts, and the persistence, to bring, the best possible, solution, to fruition!

Pay attention to this ABCDEF of quality, effective, homeowner representation! Don't you owe that, to yourself? 

STAY INSISTENT RE HOME CREDIT

Ever since Senator Reid's office announced that the Senate would be extending and enhancing the 1st Time Homebuyers Credit, there has been much less "buzz" around stating the urgency of doing that. My fear is that we are being lulled into apathy and the "it's going to happen" mode, while politicians play typical political games. The present credit is scheduled to expire November 30th, and we are already entering into the traditional slow season for real estate (just what we need on top of the present real estate reality). The market and the economy needs further jump starting, and this credit is one of the few government stimuli out there that goes directly to the American consumer. Remember that a healthy real estate market not only helps realtors, buyers and sellers, buit also helps mortgage brokers and banks, building trades including laborers and suppliers, builders, rtc. This credit is an example of the "trickle up" theory at it's best!
Realtors, bankers, homeowners, homebuyers, consumers, building trades, etc. must contact their representatives and senators, and let then know, that we want and need action NOW! Every day without this extention in place hurts the marketplace.
This extension should be a "no-brainer." Unfortunately, many politicians are just that - - politicians who are constantly running, instead of statesman who are governing. Tell your politicians that we want and need statesman NOW, and we will demonstrate that at the polls. This is NOT a Republican, Democrat, Conservative or Liberal issue - - this is an issue of helping to repair and mend our economy. Tell them all to do it NOW!

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PERHAPS SOME GOOD ECONOMIC NEWS, FINALLY

he 3rd Quarter Gross Domestic Product (GDP) figures came out, and the GDP grew by a better than anticipated 3.5%, the best GDP news and first growth in a year. Senate Democratic Majority Leader Harry Reid's office has announced preliminary agreement on BOTH extension of, and enhancement to, the 1st Time Homebuyers Credit. The agreement in the Senate calls for extension of the credit which was scheduled to expire at the end of November to April 30th contract dates, as long as the closing is by end of June. The enhancement to the credit calls for a lesser credit (but still a very significant $6,500 credit) to be given to people who wish to sell one house and purchase another, as long as they lived in their first house at least five years. While critics say that people would have bought houses anyway, even if there was no credit, common sense shows that since there was a spike in 1st time house sales during that period, saying "it would have happened anyway," may be no more than political posturing. Of course, for this to take effect, the full Senate and House have to agree, and the President needs to sign into law. If you believe, as I do, that it is better to help people than the big corporations and banks (many of which got into trouble because of either their own greed or mismanagement), then I urge you to let your government officials know that you want this credit extension and enhancement.
Studies indicate that an essential part of economic recovery is a health housing market. These steps will help create that during this crucial time period. Most economists believe that the worst of the recession will be over by the end of the 2nd quarter of 2010, and so this "shoulder" period that the credit will help solidify is truly urgent.
We must also urge our elected officials to address the joblessness rate, putting people back to work in retrained positions, to help the US regain its position among the elite economies of the world. We have been let to believe that this is a worldwide crisis, which by and large it is. However, nations like Norway have very low unemployment rates (estimates are between 1.8%- 2%) because they have positioned themselves toward energy independence. China is another example of a country which has benefited from the economic weakness of other nations during this time (for example, a Chinese company is in soloe discussions with Ford to purchase Volvo, and another Chinese company has discussed purchasing Hummer).
We need to build upon these promising bits of economic news, and urge that our government officials understand that our number one priority has to be restoring the economy, reducing joblessness, and a health housing market. If the US does not have that as a base, then there will be little chance of other programs succeeding. We, as a nation, cannot continue to have huge and growing deficits, without a sound plan for recovery.
We also need to let politicians know that we are tired of empty rhetoric, but need detailed thinking that considers both the long-term and short-term ramifications of our actions.

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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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HOUSING MARKET UPDATE

According to data released today, housing sales have now risen in the US for three months in a row. Home prices in most areas have also stopped their decline, and in most areas are nudging upward. Many factors are probably responsible for this including: the 1st time buyers credit; low mortgage interest rates; polls showing slight improvement in consumer confidence regarding the economy; economic projections for the worst of the recession to be ending in either the 1st or 2nd quarter of 2010; a slight increase in availability of mortgage money; an improvement in stock market performance; etc.

However, not all areas of the country have seen the same trend. Real estate marketing and sales remains an entity peculiar to local areas. This means that one community may see its real estate market rebound before another, just as the drop in the market started in certain areas before others.

We are entering into a period where there may never be a better time to purchase a house. Of course, only those who are somewhat financially secure, with good credit, will be able to take advantage of this. And the high joblessness rate combined with little optimism on that front in the short-term, have created the major stumbling block to the housing market recovery.

The most important way to help the housing market is to lower the joblessness rate. Those truly interested in a timely economic recovery should urge our political leaders to make their #1 priority!

If you interested in further discussion about housing or any aspect of real estate, please visit my real estate blog at: www.portwashingtonlongislandhouses.activerain.com, or my Real Estate website: www.portwashingtonlongislandhouses.com.

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Today's Real Estate Market

Everyone has an opinion about the real estate market, and what affects sales and prices. A historic view of the housing market indicates that real estate is cyclical, and while the decrease in prices has been large, it is by no means the first time we have had a market downturn. Adverse economic conditions impact the real estate market. Amongst the causes are: inflation; recession; mortgage interest rates; ease of acquiring a mortgage; stock market factors; tax incentives; employment/ job security; and consumer confidence in the overall economy.
Today, we are in a market where many of the above listed situations are working together and keeping the real estate market down. However, probably the most important factor in terms of there being a true turnaround is the public's confidence in job security. Polls/ surveys indicate that the public confidence in job security today is at or near an all-time low. The good sign, however, is that recent corporate earnings reports for the third quarter have been better than most expected. If the news remains promising, there should be a gradual beginning of the recreation of jobs, and the joblessness rate should decline.
Today's 9.8% unemployment rate combined with what's considered the true joblessness rate of approximately 18% has created a wait-and-see attitude among many potential buyers. The government's First Time Buyer's Credit, scheduled to expire at the end of November, helped the real estate market in the last three or four months, but there is presently an uncertainty as to whether or not the government will take any steps to extend this successful program.
Please read my extensive real estate blogs at: www.portwashingtonlongislandhouses.activerain.com, for an analysis and real estate market point-of-view. Also feel free to go to my real estate website at: www.portwashingtonlongislandhouses.com for lots of informative information and data.