The REALTOR advantage in negotiating.

Some Buyers and Sellers believe that they can negotiate without the help of a competent REALTOR. I say...probably not. Oh sure, they may get lucky, but the odds are not good. REALTORs are that needed buffer between the buyer and seller. Many buyers don't even want to negotiate face to face with the seller. This works the other way, also. If the buyer wants to low ball an offer, or ask for the dog and antique chandelier, they may hesitate if they meet the seller face to face.

Statistics show that using a REALTOR adds value to the transaction. So I say to you, why not use one? REALTORS are marketing specialists, problem solvers, therapist and information gurus. The six page Residential Agreement to Buy or Sell is not for the faint of heart. Points such as mineral rights, appraisal contingencies, inspection clauses, deposits and financing, as well as closing and occupancy dates are important issues that can make or break a deal. It's hard work.

The purchase agreement is a very important document that needs to be understood completely. You may have to give up that antique chandelier or lose Buffy the pug because you negotiated them away. I have always told my clients that there is no "Jesse James" in most of the transactions. The sellers are not trying to screw a buyer and the buyer is not trying to hold up the seller. Everyone just wants a fair deal. The best deals are when neither party is gloating and both feel some sense of satisfaction. REALTORS are not there to help you burn the other party or to even get you out of a deal, they are there to negotiate a fair and equitable transaction and to make sure all parties stick to it.

Besides, your time is money. Let a REALTOR handle the real estate.

Sexy Real Estate

So, now I know what it's like to have my blog scrutinized. My flesh and blood son indicated to me that selling real estate needs to be sexy. I'm not quite sure if he knows what that means. He may, however, have a point. After all, who wants to buy a home that is just blase and ordinary? This proposes a very hard goal to accomplish.

Let's look at this sexy thing in real estate. If you want to sell your home AND make it sexy, it must be three things. First, the outside must be somewhat attractive. Who wants to drive up to a home they will live in for many years and it looks like a third world shack? Give it a bath. Scrub the debris and pull weeds. Dress it up a bit. How about some colorful plants. Now that will turn some heads. A little makeup would not hurt, either. Paint that front door and wash those windows. Wow, it's looks so good now, you may not want to sell it.

The second thing to making your home sexy would be to make sure it's healthy. What? A healthy house? Don't knock this idea. The inside needs a doctor. Clean out the excess furniture, boxes and clothing that gives your home that lived in, slutty feeling. Yeah, that spot on the carpet and those filthy bathroom tiles need a bath. Clear off the counters and change those light bulbs. Show those buyers how spacious and inviting your home is. Paint that red room neutral and light some candles. Remember, you're having company.

Finally, and this is probably the most important part of selling a home and getting the best price, don't over price it. Being attractive means being available. If everyone wants your home, you'll get the best price for it. What's the use of being attractive and special if you are not available?

So, there you have it. Real Estate that's sexy. I guess I should have had THE TALK with my son when he was younger. It's never too late!

Overpriced Properties are Doomed!

Everyone wants to get more than their property is worth. If that were the case, we would all be selling our home. Sorry, not going to happen. First of all, buyers are not fools. They are savvy, well prepared and very aware consumers. Add to the fact that they may be working with a more savvy, more prepared and much more aware REALTOR, makes selling your home a daunting experience. Pricing is the biggest killer. An overpriced home only helps to sell all the other houses in the neighborhood.

Example: Dick has a home valued at $210,000 but insists that he want to market it at$250,000. He loves his home and thinks others will do the same. Sorry Dick, you're going to have a bad experience. First of all, buyers in the $240,000 - $280,000 range who are going to be looking at this house will not think it compares to others in that price range. They won't want it! It's got less square footage, a smaller lot, one less bathroom, no granite and the location is just OK compared to the houses in the same price range. Second, buyers who can afford this house that are looking in the $180,000 - $225,000 won't even make an appointment to see it! They can't afford it so they stay away. Ultimately, the seller has alienated the very same people that would want to buy his home. Go figure.

Couple all of this with the fact that the house will have to appraise for at least the sales price or the lender won't loan the money. Unless you find a cash buyer that does not care about what the house is worth, you're just going to sit and rot on the market. If you know a buyer like that, please call me as soon as possible. I've got some resort property in the swamp I want to sell to you.

Be smart. Price you property correctly. You will get the right price for you home and have buyers lining up to buy it.

Don't forget, you are a seller today, but a buyer tomorrow.

The Real Estate Market, Today!

So, what's the real estate market really like? Well, if you watch TV and read the paper, you'd think things are really starting to heat up and great times are ahead. I guess the numbers are improving, but from what? Home purchases were up last month, however, the bottom has been so low that if it had fallen any further down it would have been called a total collapse. Still, things are looking better. I love positive news.

The Lafayette area market is holding steady. Homes under contract are up. New listings have slowed down. This should help shore up a mixed bag of prices. There are strong spots and weak spots. The Federal Government's new home tax credit has made a big difference in the lower to mid-priced homes. First time home buyers are taking advantage and the sales are piling up, especially in the $100,000 - $250,000 price range. The jumbo market is very weak, however. Listings over $300,000 are the soft areas. There is a large surplus of homes in that price range.

Interest rates are still a great deal. Rates from 5%-6% for a 30 year loan are a bargain if you can qualify for one. Every loan is scrutinized and examined over and over for approval. This has caused fall-through after fall-through of pending sales. It appears you really have to be able to pay the loan back if you get one. Go figure.

Overall, I'm very positive about real estate. It's been a wonderful investment for the long term. When you review the history of real estate sales, values have risen substantially. Now is the time to get your share of the American Dream. If you can get a loan, that is!

Who needs free government money?

Good question.

We all need free money, but we can't all get it. If you are a first time home buyer and have not owned a home for at least 3 years, you may qualify. If you can get a loan, that is. Singles, students, newlyweds, couples, almost anyone that does not have a personal home in their name can qualify for up to $8,000 credit on your income tax. If you don't owe $8,000 in taxes, you can get a nifty check for the difference.

This seems like an ideal time to use this government "rebate" offer. You might as well stand in line for the giveaway. Prices of homes are flat so there are deals to be made. Interest rates are the lowest in years. If you are in an apartment or renting a house, get out there and call your REALTOR. Go find a house and close before December 1, 2009.

Oh, did I tell you it was FREE!

Don't make me tell you I told you so.....