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News
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Thursday, May 10, 2012 |
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These two Latin words — which mean “let the buyer beware” — are taking on added significance in today's residential real estate market. Recent changes to Washington area real estate forms have turned house sales into “as-is” propositions.
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Wednesday, May 09, 2012 |
A PulteGroup survey of renters says more expect to buy homes in the next two years.
They may have watched the value of their parents’ homes soar then crash. And, chances are, they know someone who is losing their home to foreclosure. Still, the hope of homeownership is alive among people who rent and want to buy, according to a recent survey by PulteGroup.
The home builder’s survey results showed that 60% of renters who say they want to buy a home in the future have increased their intent to buy compared to a year ago. And 61% of that group says they plan to purchase a home within the next two years.
It also indicates that homeownership continues to be as much an emotional desire as a practical one. Nearly half said they wanted to own a home because they would like being able to call themselves homeowners.
At the same time, 44% still said they thought buying a home is a good investment. And then there were the practical respondents, 36%, who said they wanted to own a home for more space. The percentages were similar across the country.
The results mirrored PulteGroup’s on-the-ground anecdotal information. "We are seeing a renewed sense of optimism, especially from young professionals and young families visiting our communities nationwide," Deborah Meyer, PulteGroup senior vice president, said in a news release of the results. "In fact, in the first quarter of this year, sales and traffic for our Centex homes, which cater to the value-conscious and first-time buyer, saw a significant improvement over last year—yet another sign of an improving housing market.”
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Wednesday, May 09, 2012 |
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by PAIGE
The current real estate market offers an overwhelming amount of opportunity to the agent willing to hone their skills and maintain a commitment to the fundamentals.
A successful agent in today’s market understands the need to practice their craft. They are also willing to embrace the preparation process required to meet and overcome any and all obstacles.
Owning a home has long been the American dream and following these five simple rules, provides a means to making that dream a reality.
Rule #1
Never Stop Prospecting– The law of averages reveals a simple statistical occurrence. In order to increase your sales, you must double or triple the amount of prospects you speak with on any given day. The success behind this basic premise lies in the amount of people you speak with, rather then the quality of the prospect.
We contend that in order to succeed in today’s market, you not only need to speak with enough people, but with the right people as well. Be diligent in your research, know your niche and get in front of your target consumer on a daily basis. From there, you must be able to immediately identify and meet their needs.
Rule #2
Conquer your fears – Whether it is cold calling or a listing presentation that makes you queasy, do not allow fear to obstruct your pursuit of success. Continually work to recognize, analyze and overcome any fear you find debilitating.
Rule #3
Develop a discipline – It is easy for an agent to lose sight of what matters most with the daily barrage of phone calls, meetings and to-do’s. Create a schedule and make that live within a system that keeps you focused and on track. Even the best of intentions are sidelined when the day takes control, rather then owning the day from the moment it begins.
Rule #4
Never stop working your listings - Listings are the name of the game – no matter the market conditions, your personal inventory is the foundation of your business. Without listings you are a store without merchandise and shoppers will quickly pass you by.
Rule #5
Relationship marketing pays – Studies have shown that prospects making a large purchase must be exposed to a brand at least eight times before the brand stays top of mind. This means that simply picking up the phone and making cold calls is not enough. You must follow up and form a relationship with your prospects over time. Consistently staying in front of them with valuable and relevant information will establish you as the go-to resource within your community.
What rule would you add to this list?
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Tuesday, May 08, 2012 |
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By VICKIE ELMER
Published: April 19, 2012
THE offers seem like answers to the prayers of a struggling homeowner: a promise of legal tactics to forestall foreclosure, reduce mortgage balances and interest rates, or restore credit.
But these so-called mass joinder lawsuits being advertised in mailings are fraudulent — sent out by companies purporting to be law firms, according to a consumer alert posted on the Federal Trade Commission’s Web site.
The F.T.C. last month filed a lawsuit against one operation based in Santa Ana, Calif., asserting that it had persuaded more than 1,000 homeowners nationwide to pay $6,000 to $10,000 each to join “mass joinder” suits, which are akin to class-action suits. Homeowners ended up with little or nothing in return, the F.T.C. said.
“It is an emerging trend,” said Reilly Dolan, the agency’s assistant director of financial practices, describing these fraudulent operations as part of a wide range of scams linked to loan modifications.
Consumers can lose valuable time to these dishonest players — not to mention money. The nonprofit Lawyers Committee for Civil Rights Under Law, which has brought seven lawsuits nationwide involving fraudulent loan modifications, estimates that homeowners nationwide who reported scams to its database have lost over $60 million in the last two years alone, and that $4 million of those losses were suffered by New Yorkers.
Read Full Article Here...
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Tuesday, May 08, 2012 |
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By Les Christie
Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable -- but it won't stay this way for much longer.
Stuart Hoffman, chief economist for PNC Financial Services, said he expects home prices to flatten out by the third quarter and start climbing by next year.
A number of factors will help bolster the housing market, he said, including a decline in the number of foreclosures and continued job growth. In addition, homebuyers will have better access to mortgages as they get their finances in order and improve their credit scores.
"This is a strong indicator that we will start seeing home price indexes, like the S&P/Case-Shiller, start to report home price increases this summer," he said.
Prospective homebuyers who've been sitting on the fence shouldn't worry if they aren't quite ready to make the leap. Analysts are predicting that the initial price gains will be modest, at least, in most markets.
Read Full Article Here...
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