Posts tagged real estate market

Florida Home Prices Dropping

Jun18
2010 Leave a Comment Written by Shanna

florida

According to a recent article at HousingWatch.com, Florida house prices are dropping, even in the state’s most expensive city: Key West.

What was once an impossible location for many buyers in the Sunshine State has become surprisingly attainable. A Miami Herald article cites a couple who “paid $157,000 for the foreclosure that an investor bought in 2004 for $370,000 and in 2006 was appraised for $463,000.”

So while it’s true these numbers reflect problems in the market, it’s also true that they offer good news for those looking to make the most of the downturn.

And for abundant listings throughout Florida and other states, head over to BuyOwner.com and begin searching!

Posted in Market News, Tips and Ideas - Tagged , ,

Protect Your Home’s Value

May17
2010 Leave a Comment Written by Alicia

protect your home value

Numerous factors affect the housing market, and right now, decreased home values and increased foreclosures go hand in hand. When foreclosures show up in your community, they can drag down the value of your home, they can cause potential home buyers to purchase cheap foreclosed homes over your more expensive home and they can even decrease the value of your neighborhood as a whole when vandalism is targeted at vacant foreclosed homes.

Even though you can’t prevent foreclosed homes from showing up in your neighborhood, you can take steps to prevent neighborhood vandalism and value decreases.

To prevent neighborhood vandalism, you could create a community watch party. Gather your local neighbors for a meeting to discuss watching over vacant homes on a regular basis. Perhaps you could create a schedule so that someone is keeping an eye on vacant homes at all times. If any suspicious activity is spotted around a house, or anywhere in the neighborhood, the person on watch duty could call the local police department to come check it out. Not only will this type of action prevent vandalism and unwanted neighborhood visitors, but it will also create a close bond between neighbors that will look positive to potential home buyers.

To protect the value of your home specifically, increase the curb appeal of your home until it looks impeccable. You want potential home buyers to view your home as a smart and worthy investment. If they see a house that shows off flawless qualities, they’ll forget about the cheaper foreclosed homes down the road that display overgrown lawns and peeling paint. To increase your home’s curb appeal, apply a fresh coat of paint to the exterior, fences, benches, front porch poles, mailboxes, garage doors, window shutters and anything that looks used. Also, keep the lawn mowed and the bushes trimmed. Pull weeds from around foliage. For extra appeal, display colorful flowers in pots that flank the front entryway.

Once you reach the goal of gaining interest in potential buyers, don’t lose that interest. Instead of immediately agreeing to lower your price to compete with foreclosed prices, explain to the buyers that your home’s value is worth more than that. Opt to include bonuses in the transaction instead. For example, you could pay the closing costs for the buyer, you could include select furnishings and accessories with the home, or you could add upgrades to the home without increasing the price. If the buyer still insists that you lower the price, do so intelligently. Don’t panic.

Your home is valuable. Keep that in mind as you attempt to sell now!

Posted in Selling Tips, Tips and Ideas - Tagged , , , ,

Florida Real Estate Bottoms Out?

May13
2010 Leave a Comment Written by Shanna

florida real estate market

According to a recent article in the Miami Herald, Florida real estate has hit its bottom.

“The real estate market in Florida probably has probably reached its lowest point, according to a survey of professionals across the state,” the article states.

And while such news comes as a welcome surprise to home sellers looking to move on in this market, the picture is not all rosy.

The article goes on to say, “but, they cautioned in the University of Florida’s survey of emerging market conditions, the situation probably won’t get much better anytime soon.”

So what does this mean for you as a home seller?

  • Be encouraged: We may see some stabilization and eventual improvement across the market.
  • Get motivated: It’s still a buyer’s market, and you won’t sell without effort.

Wondering what you can do to improve your home’s chances of selling? Check out our recent recap post filled with selling tips!

Posted in Market News, Tips and Ideas - Tagged , , , ,

Home Sales Show Improvement

Apr07
2010 Leave a Comment Written by Shanna

real estate market

For the month of March, the nation’s real estate market showed signs of improvement with pending home sales, inspiring hope in today’s sellers!

Overall
According to an article from the Associated Press, The NAR’s “seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6.” Whether buoyed by the government incentives or something else, home sales have been showing signs of improvement. For March, “the biggest month-to-month increase was in the Midwest, where pending sales jumped nearly 22 percent. Sales climbed 9 percent in the South and Northeast, but fell about 5 percent in the West.”

Wondering about more specific markets? Check out the below info!

Boston
Pending sales were up 27% from last march for homes and up 38% for condos. According to an article in The Boston Globe, March was the ninth straight month that pending sales gone up when compared to the same month a year ago, the association said.

Philadelphia
A Philly.com article points out that changes even in February, in which “3,630 houses went under contract in the Philadelphia region…compared with 3,397 in January and 3,226 the same month a year ago.”

Nashville
Music City experienced as much as 18 to 20 percent growth in March home sales, according to WSMV-TV. This marks a sharp change from previous months.

So what does this mean for you?
Bottom line, today’s market is changing, if gradually, and this is excellent news for sellers. Now is the time to get your home priced competitively and in immaculate condition; the buyers are out there, increasingly each month!

Posted in Market News, Tips and Ideas - Tagged , ,

Are You Ready to Buy?

Apr06
2010 Leave a Comment Written by Shanna

If you’re thinking of buying a home these days, particularly if it’s your first home, you’re probably a little nervous. Becoming a homeowner is a big commitment! So along with all the excitement of owning your own place (and the undeniable benefits of doing so), it’s only natural to feel some anxiety.

How can you know when you’re ready? Ideally, you are ready to buy when you’ve:

  1. Studied the market: The surest way to create peace of mind in a home purchase is to do your homework. Find out what similar homes are selling for and how long they’re usually on the market. What is available in your price range? What would be a reasonable offer? When you know these things, you’ll be more confident to make your decision.
  2. Maintained good credit: Mortgage lenders will use your credit history to determine your eligibility for a loan. Wondering what affects your credit history and how you can find out what your credit score is right now? Check out this Buy Owner Blog article, ”What is a FICO?”
  3. Saved a down payment: Most experts agree it’s best to put down at least 20% of the purchase price when buying a home. If you’ve saved that or close to that amount, you are well on your way to a new home!
  4. Prepared for the financial costs: As significant as the down payment is, it isn’t the only cost to be concerned with, however. You’ll also need to factor in monthly mortgage payments, property taxes, utilities, insurance, potential repairs, etc. Crunch the numbers to be sure you’re financially prepared, and if you are, you’ll know you’re going into the purchase with eyes wide open.

Of course, people buy homes all the time without doing these things. They didn’t study the market or have good credit scores or save enough for a 20% down payment. And sometimes, everything still worked out for them.

That’s because this list details not what qualifications there are to be able to buy, but rather qualifications that will give you the peace of mind that comes with making an informed, researched decision. Buying a home is a big commitment; in fact, for most people, it’s the most expensive purchase they’ll ever make.

Posted in Buying Tips, Tips and Ideas - Tagged , , ,

Should you buy NOW?

Apr01
2010 Leave a Comment Written by Shanna

If you’re one of the many Americans who’s been waiting to dip your toes in the real estate waters, a recent article at CNN Money has your name all over it.

In “Is now the time to snag a great real estate deal,” your questions are answered, on topics ranging from the tax credit to what you have to lose by waiting to the odds of being able to sell your current home before buying another.

True, there are a lot of incentives towards buying NOW. But, as reporter Beth Braverman points out, “[B]uying right now is not a no-brainer. In some areas home prices may fall further. If you own a house now, it may take longer than you expect to sell it, and you may walk away with less cash than you thought.”

To consider these and other points, head over to the full article at CNN Money!

Posted in Market News - Tagged , , , , , , ,

15 Minutes to a Better Staged Home

Mar12
2010 5 Comments Written by Shanna

staging

You can’t learn too much about real estate without hearing this crucial truth: staging matters. Take our posts here at the Buy Owner Blog, for example, where we’ve given you 12 Tips for Staging to Sell, the Top 10 Staging Tips and tips on staging for summer, staging the backyard, even ways to stage the garage!

It can seem like a lot to take in, especially if the idea of staging is new to you. But don’t lose heart! At its heart, staging is very simple. It’s all about making your home look its best.

So do you have 15 minutes? Here’s what you do:

  1. Pick a part of your home: Choose the living room, a bedroom, that nook behind the laundry door that you’ve turned into an office, whatever.
  2. Evaluate it: Thinking like a buyer would when coming to visit, evaluate your room/area and how it will come across. If it’s a bedroom being used as a closet, will this lessen its appeal to buyers? If it’s a laundry room with too much on the floors for people to walk through, will this hinder buyers from stepping through and noticing the built-in ironing board?
  3. Make a plan to change: Based on the new perspective you’ve just gained, come up with one or two specific changes you can make to improve the area. Note that this step just requires you to come up with changes, not to implement them—that’s for later. Stumped for ideas? Consider these: clean the floors, pick up clutter, get a door fixed, dust the furniture, move the sofa to create a seating nook, repair the hole in the wall, etc.

15 minutes over yet? No problem. What you now have, based on a quick survey of the space, is a plan of action to make it look better. The next chance you get, put that plan into action and conquer one part of your home’s staging! Then, repeat the process with another room. Before you know it, you’ll have the entire interior redesigned and staged beautifully!

Bonus Tip: If staring at your home for 15 minutes leaves you drawing a blank, consider bringing in a fresh pair of eyes. Ask a friend to look at the space and give you their perspective, particularly if it’s someone who hasn’t spent a lot of time there before.

Posted in Selling Tips, Tips and Ideas - Tagged , ,

Beating the Market: How to Sell Now!

Mar08
2010 1 Comment Written by Shanna

selling now

It’s true the market shows signs of improvement, but it still has a long way to go before the term “buyers’ market” no longer applies. With so many homes available today, buyers have plenty to choose from, so you have to do all you can to make yours stand out. Here are three ways to get your home sold NOW!

Clean to Sell: It should go without saying that a home on the market needs to be in mint condition, but you’d be surprised at the clutter and disrepair with which so many homes are shown today. By cleaning, decluttering and repairing your home, you set it ahead of the pack, and you make it easier for buyers to imagine themselves inside.

Price to Sell: The basic keys to pricing aggressively are checking out the competition and being realistic. Of course you want to get the best price possible, but in a buyers’ market, you cannot afford to price higher than you need. Are similar homes in your area priced lower than yours? Think like a buyer, and you’ll see why that’s a problem. Do your best to be objective and set the price a little lower than you could.

Market to Sell: Of course, even the most beautifully maintained home, offered at the best price, still won’t sell if nobody knows about it. That’s where Buy Owner comes into play. By advertising at BuyOwner.com, you broadcast your property to a 24/7 audience

Want more information on using Buy Owner? Here are 31 reasons why it makes sense to sell with Buy Owner, especially now!

Posted in Selling Tips, Tips and Ideas - Tagged , ,

Improve Selling Potential With Inexpensive Updates

Feb15
2010 1 Comment Written by Carrie

You’ve decided to sell your home. But despite powerful marketing of photos and virtual tours and descriptions, you still haven’t sold. Why?

Perhaps it’s time to do a little updating…on the cheap! Here are five ways to improve your home’s selling potential without breaking the bank:

  • Fresh Interior Paint: Remember that time you decided to give the living room a new look just by simply moving the furniture, and you accidentally dinged the wall with that end table? You may have hidden the mark behind a couch or a chair, but a buyer is going to see that little mark as decreased value. Before you sell your home, make sure that all the walls are pristine. Wash them, spackle any ticks or holes and give them a fresh coat of neutral-colored paint.
  • New Flooring: Hardwood floors are HUGE these days. However, you don’t need to spend a fortune on Australian Cypress or Brazilian Cherry. You can get the look for less, and buyers may be in for a pleasant surprise when you reveal that your gorgeous wood floors are actually an inexpensive laminate! What could cost you between $5 and $15 per square foot for the real thing may run you as little as $1 per square foot for the look-alike. Imagine the savings!
  • Updated Light Fixtures: You’d be surprised what a little change in lighting can do for a room. For example, if there’s a hanging light in the living room or kitchen, replace it with a lighted ceiling fan. You will add a bit of energy efficiency and cut cooling costs, which is always a plus for a buyer. And if the family room boasts the same lamps you bought 10 or 20 years ago, it’s time to get some new ones. You can still take them with you to your new home, but modern, updated looks appeal to potential buyers.
  • Lawn Maintenance: First impressions count! Make a good first impression by maintaining your lawn. Unkempt bushes, tall grass, endless weeds and patches of dandelions will send a buyer running for the hills. Even if you’re selling in winter, if you don’t shovel the driveway/sidewalk, buyers have no reason to get out of their cars and walk into your home. Mow the lawn, trim the bushes, pick out the weeds and remove the snow. Show buyers you care and draw them into your home.
  • Availability: If you haven’t been around for your open house, make yourself readily available! No one knows your home like you do. Don’t let friends or neighbors conduct your showing. Let buyers know how much you have invested, monetarily and emotionally, into your property. Be there to give tours and answer questions. Also, be open to phone calls or emails. Selling your own home takes a little bit of effort on your part, so be available!
Posted in Selling Tips, Tips and Ideas - Tagged , ,

What 55-Plus Buyers Are Looking for

Feb06
2010 Leave a Comment Written by Shanna

Retirement. The very word conjures up images of sunshine and golf courses and backyard lanais. But is that what today’s retired population is looking for?

According to a recent article in the news-press.com, a National Association of Home Builders survey revealed that today’s 55-plus crowd has a new set of preferences, and they’re not what you’d think.

WHAT THEY WANT:

  • In-unit washer/dryer sets
  • Lots of storage space
  • An entrance without steps
  • Private patios and/or porches
  • Main-level master bedrooms
  • Bigger bathrooms
  • Convenience features: user-friendly thermostats, garage door openers, easily opening windows, wide doorways, nonslip flooring

WHAT’S LESS IMPORTANT

  • Fireplaces
  • Kitchen islands
  • Sunrooms
  • Workout rooms

The article also says golf courses are out (in favor of walkways and green areas) and high-tech items, while appealing to younger buyers, usually aren’t important to the recently retired.

To read the rest of this article, “Preferences Changing for Dream Retirement Home,” click here.

Posted in Market News, Tips and Ideas - Tagged , , , , ,
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Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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