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Real Estate News You Can Use - Fuzed Together by Gretchen

Is it Possible to Time the Real Estate Market?

Posted on Friday, December 11, 2009 12:00:04 AM

There is more to timing the real estate market than often meets the eye.

There's certainly more to it than adhering to the principle of buy low, sell high. I've always wondered why buyers wait for a seller's market. Why do they want to frantically scramble to outbid each other and snatch up limited inventory by paying over market? Yet, when market conditions actually favor buyers, so many seem to adopt this sit-back-and-wait attitude.

What are they waiting for? They're waiting for the market to further drop, as though they possess a crystal ball on which hyper-hysterical headlines scroll . . . read more about timing the real estate market.

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Is it Possible to Time the Real Estate Market? originally appeared on About.com Home Buying / Selling on Friday, December 11th, 2009 at 05:00:04.

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Top 10 Home Marketing Tips

Posted on Wednesday, December 9, 2009 12:00:01 AM

Before listing with a real estate agent, home sellers should ask to see the agent's home marketing plan.

Home marketing is a complex process that varies depending on market conditions, but some facets are common to every transaction. For example, it wasn't too long ago that a seller could stick a For Sale sign in the yard and watch buyers line up ten-feet deep begging to buy it. In today's real estate market, it takes a lot more than a sign in the yard to move a property. Buyers today are looking for any reason to pass up your home and go on to the next.

There is no single method that will magically sell your home. It's a combination of marketing efforts. The point is you want to appeal to the largest pool of available buyers, but that doesn't mean you need to take out an equity loan to pay for marketing. And hopefully, if you have hired the right listing agent, you won't have to beat your agent on the head with a half-chewed chicken leg to generate some action. . . . read more about Home Marketing.

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Top 10 Home Marketing Tips originally appeared on About.com Home Buying / Selling on Wednesday, December 9th, 2009 at 05:00:01.

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How to Get Over Home Buying Obstacles

Posted on Monday, December 7, 2009 12:00:18 AM

Many home buyers face home buying obstacles, and it's even worse when you are buying your first home.

Very few first-time home buyers have clean-as-a-whistle-credit and sail through buying a home. There are always little problems that seem to pop up when you least expect them. And even the problems that you can anticipate have a way of blowing themselves out of proportion. This is when your agent and loan officer will be most valuable to you.

There's a saying that when faced with a mountain, you either climb over it, go around it or tunnel under it. But sometimes, if you're really lucky, you can make that mountain vanish before your very eyes . . . read more about Home Buying Obstacles.

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How to Get Over Home Buying Obstacles originally appeared on About.com Home Buying / Selling on Monday, December 7th, 2009 at 05:00:18.

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Experienced Real Estate Agents Tend to Stay in the Business

Posted on Friday, December 4, 2009 12:00:02 AM

Is it true that experienced real estate agents work with happier real estate clients? Or are clients happier working with an agent who has experience?

Hey, it's no secret that because of the falling real estate market in many areas of the country, lots of real estate agents are dropping likes flies. These are mostly people who came into the real estate business at the height of sellers' markets and could not adjust to the changing marketplace. My own local Board of REALTORS has reported a dip in membership and loss of revenue.

My take is agents who have been through the ups and downs of rising and falling real estate markets over the years tend to weather these storms without much problem. Experienced real estate agents are also better able to predict problems before they arise and know how to handle difficult situations without running for help. And I believe that being able to draw on past experiences to guide clients is a valued service that ultimately keeps clients happier . . . read more about Experienced Real Estate Agents.

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Experienced Real Estate Agents Tend to Stay in the Business originally appeared on About.com Home Buying / Selling on Friday, December 4th, 2009 at 05:00:02.

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How to Choose the Best Type of Exterior Siding for Your Home

Posted on Wednesday, December 2, 2009 12:00:35 AM
Home owners face many choices for home exterior siding, but making the right selection depends largely on climate, followed by your home's character and your financial means.

Goodness knows, I've bought my share of homes that came with various types of home siding disaster stories. My present home's exterior is brick, wood and mostly stucco. That style is in keeping with the age of my home and its location.

But my last home was an 1898 Victorian, and its previous owners had covered the exterior in vinyl. Purists believe vintage homes such as Victorians should always retain their character. And contrary to popular belief, vinyl siding is not indestructible. One year, my Victorian's siding was damaged during a freak hail storm. It looked like it had been shot at with a machine gun. I had a hard time finding matching vinyl panels because manufacturers change tab dimensions and colors on a regular basis. So, I ended up tearing apart two walls to replace the damaged portions, redoing another wall in its entirety with a slightly different colored vinyl.

Vinyl siding has its pros and cons; however, lots of people intensely dislike vinyl. They dislike it so much that a home in Sacramento's Land Park neighborhood was on the market for six months before a buyer purchased it -- primarily because everybody objected to its vinyl siding.

I also owned a semi-custom Minneapolis suburban home that had peach aluminum siding. When I sold it, the buyers decided they did not like the peach color of the exterior and decided to paint it. One of the reasons to own a home with no-maintenance siding is because you never have to paint it, but paint the aluminum, they did . . . read more about home exterior siding.

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How to Choose the Best Type of Exterior Siding for Your Home originally appeared on About.com Home Buying / Selling on Wednesday, December 2nd, 2009 at 05:00:35.

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The Complete Short Sale Process from A to Z

Posted on Monday, November 30, 2009 12:00:29 AM

Because many buyers don't understand the short sale process, they tend to become very impatient while waiting for short sale approval.

In fact, buyers who cancel the transaction prior to short sale approval are the biggest problem facing shorts sale specialists across the country. If buyer's agents would simply explain the short sale process to their buyers and obtain a commitment upfront, the number of frustrated sellers left standing at the gate of approval with no buyer would drop.

Moreover, listing agents wouldn't have to sell those homes 3 or 4 times before a buyer decides to stick with it and hang around . . . read more about the Short Sale Process.

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The Complete Short Sale Process from A to Z originally appeared on About.com Home Buying / Selling on Monday, November 30th, 2009 at 05:00:29.

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Lease Options Are an Alternative to Bank Financing

Posted on Friday, November 27, 2009 12:00:00 AM
When mortgage credit tightens, buyers and sellers consider alternative financing options such as lease purchases and lease options.

The two are not identical, but are synonymous with rent-to-own. Both involve owner financing, so the buyer is not obligated to obtain financing from a conventional lender, at least for the term of the agreement. Another under-utilized financing term is option. But options are separate from a lease option and a lease purchase. Sound confusing?

Options, lease options and lease purchases are nothing new. They are financing instruments that have been used for decades. In fact, I had a lease option to buy in 1980 an oceanfront home in Ventura, CA. But the devastating winter storm of 1981 crumbled its sea wall and sent that home sliding into the ocean . . . read more about lease options and lease purchases.

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Lease Options Are an Alternative to Bank Financing originally appeared on About.com Home Buying / Selling on Friday, November 27th, 2009 at 05:00:00.

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Dealing with Full-Price Counter Offers From Sellers

Posted on Wednesday, November 25, 2009 12:00:12 AM
If you think that full-price counter offers happen only in a seller's market, think again.

In any type of real estate market, there are dozens of reasons why a seller might counter at full price, and let's not discount stubbornness as a likely reason. When you receive a counter offer from the seller, the message that counter is conveying is one of negotiation. It doesn't mean "go away, you knucklehead." It means the seller is open to discussing particular aspects of the purchase offer, including price.

Realize that sellers are not required to respond to a purchase offer for less than full price. There's no reason to issue a counter offer at list price, unless a seller was willing to negotiate, because a seller can simply ignore your offer for less. Sellers don't even have to formally reject it. Ignoring, rejecting or countering at full price all accomplish the same thing with one small difference. Where there's a counter, there is life in the negotiations. So if sellers go through the trouble to issue counter offers, even full-price counters, smart buyers will keep the conversation going . . . read more about full-price counter offers.

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Technorati tag: Dealing with Full-Price Counter Offers From Sellers originally appeared on About.com Home Buying / Selling on Wednesday, November 25th, 2009 at 05:00:12.

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Arm's-Length Means You Can't Sell a Short Sale to Your Mom

Posted on Monday, November 23, 2009 12:00:29 AM

Most short sale banks insist that all parties sign an arm's-length affidavit prior to issuing short sale approval.

In fact, banks such as Wells Fargo routinely send me a series of addendums that they want signed before sending the file in for review. Some of the documentation is an attempt to stop mortgage fraud.

I recently received a arm's-length affidavit for a short sale and sent it to the buyer's agent for forwarding. The agent's buyers were on vacation and unreachable. I suggested he send it via FedX but the agent decided to wait until the buyers returned from their holiday. As a result of the delay, Wells Fargo canceled the file . . . read more about Arm's-Length Affidavits on short sales.

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Arm's-Length Means You Can't Sell a Short Sale to Your Mom originally appeared on About.com Home Buying / Selling on Monday, November 23rd, 2009 at 05:00:29.

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Did You Hire a White Knight Agent?

Posted on Friday, November 20, 2009 12:00:09 AM

Some agents, whether novice or veteran, can find themselves inadvertently turning into white knight agents.

These types of agents are not out to save the world. They want to save home buyers and sellers from themselves. At least that's their intention. But most unlucky recipients, if they really stopped to think about the ramifications of their agent's white knight behavior, would want to run as far away as they can.

White knight agents often act on behalf of their clients without authority. They get in the way of successful closings and, instead of helping to guide, they become obstacles and roadblocks . . . read more about White Knight Agents.

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Did You Hire a White Knight Agent? originally appeared on About.com Home Buying / Selling on Friday, November 20th, 2009 at 05:00:09.

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