Daily Real Estate News    |    June 9, 2011    |     Share

Bankrate.com recently featured a range of tips for first-time sellers to help them stay competitive in today™s real estate market. Here are some things you may want to discuss with your sellers:

Pricing a home competitively from the beginning is important. “Your largest number of showings will occur in the first two to three weeks,” says Mark Ramsey, broker with the Ramsey Group/Keller Williams Realty in Charlotte, N.C. “The (multiple listing service) systems and the Internet tend to drive the majority of showings. That™s why real estate experts stress that it™s important sellers get a competitive, realistic price from the start.

Consider sweetening the deal. Sellers may be able to lure more buyers by offering some extra incentives, whether that™s leaving that top-of-the-line gas clothes dryer or other items that would be difficult to move, like the two wall-mounted, flat-screen TVs. The perks may add a little extra to attract buyers and become extra selling points too.

Make sure the home is show-ready and in move-in condition. In smaller homes, for example, clutter can mean the difference between cozy and cramped, experts say. Be sure the sellers keep homes clean and clear of clutter, particularly kitchen and bathroom countertops that tend to accumulate personal items that can hamper showing the home™s features.

However, make sure sellers don™t go to the other extreme and clear away too much.

“Don’t neutralize it so that it’s sterile,” says Pat Vredevoogd Combs, vice president of Coldwell Banker AJS Schmidt in Grand Rapids, Mich., adding that small mementos and photos help make a house feel like a home.

Real estate experts also stress the importance of sellers™ getting a home in move-in condition–such as fixing all repairs and replacements–before it is even listed.

“From a presentation standpoint, you want them to feel it’s turnkey — ready to go,” says Mark Ramsey, broker with the Ramsey Group/Keller Williams Realty in Charlotte, N.C. “Because your competition is doing that. In this market, it’s not just a price war but a beauty contest at the same time.”

Source: œ7 Tips for the First-time Home Seller, Bankrate.com (June 2011)

Ho-Ho-Ho!!! And Merry, Merry Christmas…here’s a present we’re all looking forward to–Real Estate on the upswing! Courteous of Santa, and possibly Rudolph, along with the help of low interest rates–all signs point to Real Estate being on the upswing this year. New Construction permits have surprisingly been on the rise the last quarter–rising from what seemed to a particularly bleak market. With the Federal Tax Credit a good deal 6 months behind us, buyers are finally coming off the fence and looking to make a move. So Merry Christmas from Santa–and here’s to a wonderful New Year!

Here is your chance to voice your opinion on how the Federal Housing Administration may handle the proposed changes lowering the seller concession amount from 6% to the proposed 3%. The Federal Housing Administration would like to hear from you and know your thoughts--what a GREAT idea!!! So, here's your chance--Let them know what you think...

http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-150

If you choose to comment, please go to: http://www.regulations.gov.  

Note: All submissions must refer to the docket number and title of the rule.

Once on the website, copy & paste the following into the docket search area:

[Docket No. FR-5404-N-01]

The title of the appropriate article is:

Federal Housing Administration Risk Management Initiatives:

Reduction of Seller Concessions and New Loan-to-Value and Credit Score Requirements

I was watching the Today show (my favorite show) this morning as I was getting ready. This crazy woman was talking about 168 hours… I told her in the mirror…:Whoever heard of 168 hours?” Then I actually listened to what she was saying, and I thought it very relevant and perhaps, revolutionary. The basic premise is that there is 168 hours in a week <i>(which of course I thought to myself I totally must spend all of those working…or at least it feels like it).</i> She went on to say that if the average person who works an 8 hour day 5 days a week and who gets 8 hours of sleep <i>(YES!!! All eight hours!!!)</i> every night, is left with <b>72 HOURS</b> to do other things!!! I was floored by this BIG picture. Someone who works 50 hours a week, is still left with 62 hours and so on. She also says that (and most Keller Williams Agents will know what I’m talking about here–think 4-1-1) it is best to think in terms of each week, rather than each day. Afterall, 168 hours seems a lot easier to plan out than 24. So, here you go:

Here is the link to the video that stopped and made me think:
http://today.msnbc.msn.com/id/37927684/ns/12202934

If you’d like, you can download a time management schedule of your perfect world in a .pdf or Excel format by going to the website http://www.my168hours.com and clicking on Managing Time.

It has been a long time since Missouri has experienced such drastically cold weather. During such a large lapse of time between these harsh subzero temperatures, it’s easy to forget how fragile our plumbing pipes can be, and how simple it can be to protect them. Frozen pipes can be a huge pain and a very large expense to repair. So during these next few weeks, be sure to take these simple precautions to save yourself some time, some money, and one huge headache…

1) Keep cabinet doors open to any plumbing running along any exterior walls.

2) Keep faucets in the home running with just a slight drip coming out. This will keep movement in the pipes and prevent them from freezing.

3) Lastly, refamiliarize yourself with where your main water shut off valve is. Should you experience any frozen pipes, this will be the first place you want to run to and turn off in order to get the water to stop and to minimize damage.

Follow these three important & easy steps and you should be more than prepared to protect your home, your sanity, and this wonderful new year!!!

Tips for Parents Buying Homes for Children
With home prices low, now could be a good time for parents to give their children a home or even an investment property.

Here are some suggestions for managing the tax consequences from Mark Luscombe, tax analyst with Wolters Kluwer.

• Give a cash gift. Individuals are allowed to gift up to $13,000 per person in a given year without incurring gift tax. That means a couple could give their offspring and spouse $52,000 in a single year to go toward a down payment.

• Lend money. The government requires that family members meet or exceed minimum loan rates to avoid having the loan be considered a gift. The rates are currently low. One way to handle this is for parent to use the $52,000 gift exclusion to forgive both interest and principal.

• Use a trust. Set up a qualified personal residence trust, or QPRT. You™ll need an attorney to handle this transaction, but in a nutshell, parents put the home they want to give their children into a trust. At the end of a pre-set term, the home passes to the children with no taxes due.

Source: The Wall Street Journal, Shelly Banjo (06/25/2009)

Daily Real Estate News    |    June 1, 2009    |    

As Rates Rise, Fed Holds Steady

Yields on U.S. Treasury bonds rose in March and April and yields on mortgage-backed securities continue to increase, pushing 30-year fixed home loans up to 5.44 percent”the highest rate for mortgages since early February.

The Federal Reserve is buying Treasurys and mortgage-backed securities (MBS) in an attempt to keep borrowing costs low and to provide the financial system with money for lending.

However, there is some concern about the amount of borrowing needed to fund the campaign, which has resulted in the purchase of $130.5 billion in long-term Treasury debt and $481 billion in MBS so far. Yet the market still believes the central bank will expand its purchases in order to restrain long-term rates.

Source: The Wall Street Journal, Jon Hilsenrath and Liz Rappaport (05/29/09)

© Copyright 2009 Information Inc.

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Comments (0) Jan 27 Existing-Home Sales Show Surprising Gain Posted by thescoop under For Buyers, For Realty Professionals, For Sellers, General Information Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors ®.Existing-home sales “ including single-family, townhomes, condominiums and co-ops “ jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units in December. The number compares to a downwardly revised pace of 4.45 million units in November, but 3.5 percent below the 4.91 million-unit pace in December 2007. For all of 2008, there were about 4.9 million existing-home sales — 13.1 percent below the 5.65 million transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales…   Full Story Available by clicking the following: http://www.realtor.org/RMODaily.nsf/pages/News2009012601?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily Comments (0) Aug 27 Types of Loan Progarms available… Posted by thescoop under For Buyers, For Realty Professionals, For Sellers, General Information With so many changes going on in the market, it is often hard to find a reliable source for accurate information. In response, the Kansas City Regional Association of Realtors has put together a site specifically for the Kansas City area and the loan programs available here. You can look up the terms, and research the different loan types available, and whether or not they could be for you. It also has tons of useful information, statistics, answers to frequently asked questions, and more. Lastly, it also has information on many grant programs available through the state and various cities around the area to help many residents throughout the area with their downpayment. While there are income qualifications and maximums, it is still worth investigating and checking out. For more information, visit: www.KCHOMEPROGRAMS.com Comment (1) Aug 27 Blogging is BACK!!! Posted by thescoop under For Buyers, For Realty Professionals, For Sellers, General Information Well, contrary to all the media “coverage” you hear about how bad it is–GOOD NEWS–IT’S NOT!!! I have been absent in my blogging because I have been BUSY with Real Estate! Believe it or not–People are still BUYING, houses are still SELLING, and the world is still TURNING! YES!!! So, while I apologize for my absence, I want to sincerely thank all of my wonderful clients who have been keeping me busy–as always, YOU are my top priority! Comments (0) 1 | 2 | 3 | 4 | Next >