Buyers today seem frustrated (as are many Buyer's agents) in a field flooded with an endless plethora of properties foreclosed upon or in the beginning stages of the foreclosure process. But while desperate urgency seems to be driving them en masse, to pursue reportedly "good deals" many are finding that multiple offers or non responsive agents seem to be thwarting their best efforts to participate in this what has been called "Opportunity Times". Sound familiar?
REACTIVE OR PROACTIVE?
Certainly no one will dispute that these are glory days for REO specialists. Their files are fat with fresh listings from deliciously served up on platters from the feast of foreclosures, and short sales. Lenders, and banks looking for liquidity to parch the endless thirst created when loans dried up and bad debt was abundant amid the arid economic downturn resulting in a salty sea of bad loans and toxic debts.
It is Human Nature is to want more for less. Regardless of what price is on the home, inevitably the lingering question remains.."Will they take less?" If, it was the price which attracted you, is it not unreasonable to think you were not the only one who noticed it?
Yet, there it is...human nature, to want to reduce beyond reasonable expectation, that which is already the product of diluted expectation. The ugly illegitimate child of desperation and poor judgment. That child we all know is now lumped into a social class system wearing a label of shame, neglect, abuse and abandonment and is now called "the distressed home".
Unreasonable expectation of further reductions is paramount to calling the lender's kid ugly.
It may feel justified at the time, but it will not seal the deal on the dowry. No, the highest and best offer will prevail. As difficult as that is to palette, one must be prepared to offer what is asked.
Moreover, offers seem to be rising in the tide of opportunity seeking investors, second home buyers, and cost conscience families looking to secure the "Best deal" within their means.
Many new buyers to this market, iinadvertently cut themselves out of the deal by trying to undermine the carefully crafted prices Real Estate experts and lenders have diligently determined most achievable under the current economic climate of this tumultuous market.
Offer that are substantially under the asking price, are anemic, and lack the muscle to overpower competitive bids, therefore they have little chance of succeeding. Sort of like throwing an anvil and hoping this little pup will play fetch...not likely to happen.
However, weighting the offer at asking price or slightly better will increase the chances dramatically of reducing the amount of times you are throwing offers out there which seem to effortlessly slide off the table and out of serious consideration.
In order to stick the landing like a well conditioned gymnast in competition for the gold or winning position, one must hit the mark with precise accuracy and not waiver, or come up short. Focus on the goal, execute the contract and land with both feet well planted on the ground to close.
Buyers in my market of St. Cloud Florida are experiencing a record number of multiple offers, It can be a frustrating process. Be prepared. Have your pre-approval letters in hand, be prepared to be Pre-Approved again by a preferred bank lender (this is to insure you can make the mortgage payments) and be prepared to put your BEST off er out there first.
July 4th in St. Cloud, Florida will take on a whole new meaning this year- it is the City's Centennial. That's right, 100 years. Incorporated back in 1909 this bedroom community to Disney was established as a retirement community for Civil War Veterans.
FAMILY FRIENDLY FUN
The fabulous St. Cloud , Florida Lakefront offers a refreshing escape and is the center of activities on the Fourth of July.
Beautiful white sand beaches, swimming, volleyball, and public covered pavillions perfect for family get togethers are available to residents.
A Perfect for a freindly game of frisbee, flying a kite, or relaxing, while barbequeing.
Join in on the fun of the famous "Wife Carrying Contest" as participants manage a maze of obstacles while carrying their beloved spouses to the finish line.
The St. Cloud Chamber of Commerce will sponsor a Live concert beginning at 5pm, followed by the Beer Garden at 6pm. There will be a reading of the Declaration of Independance performed live, and at 9pm pull up your lawn chair and watch the incredible display of fireworks blaze brightly in the night sky to the music of patriot tunes which will be played over a loud speaker system.
Pets are welcomed to attend and must be on a leash.
Fourth Of July in St. Cloud Florida is a local favorite and family tradition..why not start yours here.
Looking for something fun to do this 4th of July? Try a visit to the St. Cloud, Florida lakefront.
The recently renovated 4 million dollar lakefront, features beautiful beaches,bike paths, fountains and an interactive waterpark for the kids, along with picnic areas, and pavillions for residents .
Beginning at 5pm come and enjoy live music, a beer garden, and a spectacular fireworks display set to beautiful patriotic songs.
St. Cloud, Florida is celebrating its 100th Anniversary founded in 1909- so this year is sure to be a very special celebration.
While there preview some the beautiful historic homes dating back to the early 1900's.
So many times people overlook something small which will maximize the impact a home can make. Sure, there are the obvious things like freshening the flower beds, doing some long overdue weed pulling, But before you pull out that paintbrush... there is one simple thing that will improve, freshen, and increase the perceived value of just about any home. Want instant equity? Just add water.
SOMETHING SO SIMPLE A KID CAN DO IT
In a word, POWERWASH.
The hot, humid, dank weather Florida is famous for, produces a bumper crop of mold, algae and other fungi which are types of wood destroying organisms. Every homeowner should have one. It will preserve, freshen and deter the growth and development of such organisms as well as brighten concrete walkways, patios, and painted surfaces and plastic lattice.
If you are buying or trying to sell a home, giving everything a quick rinse will flush out the hidden value of your property.
There has been a surge in celebrity deaths recently. Most shocking to many, may be 50 years old Michael Jackson, King of Pop or perhaps it was Billy Mays-also 50 years old known as the King of the Pitchmen. I recently received an email from a client who was opting to defer looking for a vacation home for five more years, until he was closer to retirement age, when I could not help but think... WOW life IS shorter than we realize. Forget what the Actuary charts say.
Real Estate Investment opportunity may not be something for everyone. We all seem to be very aware that at this moment- prices have never been better. Death Taxes are also at their peak. The exemption for 2009 is 3.5 Million dollars. (This is also an all time high.) The exemption will be repealed next year. Disappearing along with the tax incentive for fisrt time home buyers.
BEATING THE ODDS AND HEDGING YOUR INVESTMENT BETS- A GOLDEN GIRL'S PHILOSPHY
Recently an 88 year old lady purchased a home here in St. Cloud, Florida. Why, one would ponder would such a mature woman want to buy a home at this tender age? She is a sharp cookie. She is very aware that not only would she reap the dual benefit of the tax credit, she would also reap the death tax benefit should she become deceased by the end of the year. Afterall her life expectancy at this level is greatly reduced. According to the US government she could expect to live an average of 79.95 years
It was founded as a retirement community for Civil War Veterans and has recently just turned 100 years old. Incorporated in 1909 there are some beautiful historic homes still standing here.
The streets in downtown St. Cloud, Florida are named after states original founders came from.
What has made St. Cloud enormously popular recently are the investment opportunities available, for experienced as well as novice investors.
There are no stocks that will yield a greater return on investment than the ground floor opportunities in the current economic climate of the housing market. As prices of homes reset due to foreclosure and short sales defaults, they come back on the market at greatly reduced clearance prices. Banks afterall derive no benefit from holding them as bad debt.
With the dual benefits derived from the combined tax incentive and death tax or estate tax exemptions one could say that this is a perfect storm for mature people. Maximizing the benefits to their heirs and protecting their estates from taxation.
This could explain in part the increase in contacts from older adults lately looking to secure their assests by investing in Real Estate as "futures" for their children (now also mature adults) as well as their grand- children.
While the days of homes transcending the generations and being handed down over the years may have gone by the wayside, a resurgance of late in life investors are paving the way for homeownership for their family members by maximizing the current benefits.
WANT TO SEE WHAT IS AVAILABLE AT WITH NO OBLIGATION OR SIGN UP? Click here> Allison Stewart, Licensed Florida Real Estate Broker- Associate
Remember when brokerages had open doors and buyers went to the local Real Estate Office to look for a home? It was up front and personal. It isn't like that anymore. Today, buyers are much more "Do It Yourself" oriented. But as advanced as technology is, the latest information is old information by the time they find a home they want to buy. The race is on.
In most cases, the "Do it Yourself-er" is a day late.
The house they saw today went under contract yesterday.
The are arriving at the finish line a little too late for the win.
DRIVE BYS ARE MORE LIKE PARADE LAPS
Doing a "drive by" can give one a sense of the neighborhood, surrounding homes, and helps one determine where they may want to live.
But in the competitive race for cheap housing doing nothing more than driving by is a guarantee for a second place finish.
It happens everyday. A prospective buyer will blindly call having just "discovered a house" they saw and are interested in purchasing. They are not working with a Real Estate professional, so they have little or no knowledge of what has been happening in the housing market. As a result the house they "Just saw" has already gone under contract. Giving the checkered flag to the buyer who got there first.
HEADING TO VICTORY LANE OR A SECOND PLACE FINISH?
Personally I am in it for the win. As an avid auto-crosser I love coming in first. Real Estate and auto-crossing have a lot in common. You must learn the course, navigate the obstacles and have the fastest time. Parade laps are fun, but won't win the gold.
Houses in my area are CHEAP. In fact, many are priced about the same as a new luxury car. Average people are easily able to afford buying a small home. The cheapest ones are most often selling for cash. And without doubt...the race for the best buys has begun.
PIT STOP OR ROAD BLOCK?
Every winning driver has a stategy and a great pit crew. If you are in the Race For First Place to buy a home, it is very important that you get competent help. Sellers these days are more likely to be institutions rather than individuals.
There are specific contracts which are required, and special addenda which is required. It can be a very complicated proceedure and you cannot deal directly with the seller like you used to.
Having a Professional Realtor at your side can be the best tool to avoiding road blocks or lengthly pit stops which could cost you the first place finish.
Working with a Professional has no up front out of pocket expenses. Compensation is paid at closing by the seller.
Too often buyer skepticism can have a costly effect. It can kill time, which is the most valuable commodity. While many are in denial that the housing market is rebounding, and that there is stiff competition to purchase low cost homes, the proof of showings lie usually on the kitchen counter...in the rising number of Realtor cards.
WHAT ARE THE CARDS TELLING YOU?
When Real Estate Professionals show homes, they leave a card for the listing agent, usually for the purpose of performing follow ups and feed back on properties the buyers agents have showing.
When previewing property, if you see a large number of cards on the counter, it is a signal that the house is receiving a lot of showings, that the price is attracting numerous other buyers.
These buyers are YOUR competition.
So how do you edge out the competition?
Be prepared in advance of looking at homes.
When you find a home that will work- do not hestitate to make that offer.
"Thinking it over" can be a costly mistake when the house you want goes "Pending" and is no longer available. This is happening with more frequency in response to irresistable prices.
If temperatures near the 100 degree mark aren't enough lately, how about the housing market heating up. Sales on homes $100,000 or less are soaring to 25% over this time last year. The sultry market soaked with foreclosure homes, bank owned properties and short sale properties have been attracting buyers in record numbers parallelling both the mercury and the sales charts.
HOT WEATHER AND HOT PRICES
In Florida, sales are spiking right along with the mercury these days. The hottest market is smaller homes under $100,000.
A Few Important things to know before you begin looking.
Most lender controlled properties will require proof of funds,
Be prepared in advance of your search for a home.
Talk to lender, determine your credit line and have your documents in order. Finding the perfect home is easy, losing it due to lack of proper preparation can be very frustrating.
ACKNOWLEDGING COMPETETION
There are some very good buys on the market now. As a result larger numbers of buyers are returning to Real Estate as a hedge against inflation. The hottest price ranges are $100,000 and below of which there are some very nice, and some not so nice homes available. Chances are you will not be the only one looking and prepared to buy. Whenm you find the right one- Move Quickly.
Too often, delaying a decision is handing someone else the home you want on a silver platter. Buyers are still underestimating market competition and unfortunately, homes they have later decided they wanted have already gone pending. We are seeing this happening in greater numbers on well priced properties.
ESCORTED SHOWINGS ARE MORE EFFICIENT
The absolute best way to know that the homes you are looking at fall into your particular budget is to work with a REALTOR®. Often times blindly calling on lawn signs yield little information and guidance. The most efficient way to preview homes in your price range, are to:
Have a lender determine what the range is
Have your preapproval letter ready and in hand.
Check the Internet, then
contact an area expert who can assist you with fine tuning your search.
Next comes the scheduling of showings.
Making an informed decision to buy
Preparing the Purchase Contract
This economy presents buyers with a unique opportunity to make long term gains ontheir investment. As the market begins its accerated rebound prices will creep up. Compare what you are currently spending in rent and weigh out the potential benefits, tax incentives, and tax credits and if you conclude that now is the best time to buy...Do It!
Blogging from 33,000 feet somewhere over the northeast USA. Yep, that's right, you can now take your blog with you when flying. Southwest Airlines is testing their WiFi Internet service. The best part...It is Free!
After spending some time in NH, where Wifi service was limited, it was really great tio be able to catch up on news, business and IM a few friends to tell them about this remarkable experience. New Hampshire is beautiful but cell service in some parts of the Mountain regions is challenging.
The problem with so many bank controlled properties- is bean counting. What was an assett last year, has now become a toxic debt, which must be liquidated in order to satisfy concerned stock holders. Of course, the property the original mortage was written on..is now..somewhat less appealing and "MAY need a little TLC". That what an auction is for.
Kitchen cabinets, that small mold issue from when the roof leaked and the power was disconnected is only a problem for those buyers who are visionary in thier thinking. There are the brave ones, who are not afraid to tackle homes requiring a lot of TLC to be what they once were...nice.
More and more we are seeing foreclosed properties now turning to the auction process to liquid slow moving inventory. But what happens when you have an offer going in on one when suddenly the status changes reflecting the "new" auction status.
Most times, the existing offer may be good enough. However, where there was no competition, there can be multiple buyers all trying to get the best possible price. There is this little thing however, called a "reserve".
In case you are wondering- as bad as the house may be..they will still get what the market will allow for it.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The recently renovated 4 million dollar lakefront, features beautiful beaches,bike paths, fountains and an interactive waterpark for the kids, along with picnic areas, and pavillions for residents . 
HOT WEATHER AND HOT PRICES
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