home selling: Energy Audits - 05/07/12 06:59 AM
Hey my green guys and gals. The new buzz in residential real estate is an “energy audit.” This audit is asked buy potential buyers bidding on an existing house, they request an energy audit alongside the standard inspection clause. That audit, in turn, can save the buyer thousands of dollars in future operating costs and pinpoint the specific features of the house that need correction to improve efficiency. It might also be a tipoff to a sobering reality: This house is an energy guzzler. Either the asking price comes down, the seller fixes the problems or deals can be broken. Though energy … (2 comments)

home selling: Supply and Demand: Correcting the Imbalance - 03/05/12 01:50 AM
I love when business concepts like supply and demand get to prove themselves. Inventories of homes listed for sale in January dropped by 6.6% from December to 1.77 million, the eighth straight month that listings have declined. For-sale listings are 23.2% below year-earlier levels and at the lowest point since the housing bust accelerated five years ago, according to data fromRealtor.com. So, do the principles of supply and demand come into play right now? Do costs go back up?   Housing inventories typically rise heading into the spring selling season, but only four markets saw inventories increase from December, none of … (1 comments)

home selling: Confidence - 02/20/12 04:28 AM
According to a survey conducted by Fannie Mae in January, 71% of 1,000 people polled believe that now is an excellent time to buy a home.  Thirty percent of respondents also reported that they believe the U.S. economy is heading in the right direction, compared to only 22% when surveyed in December. 
 
Sales of existing homes are also expected to rise between 2-5% in the coming year.  Bel Air has reported a 14.3% price increase from 2010 to 2011, while West Hollywood and Beverly Hills have also reported prices up from the previous year. Home sales in Los Angeles County have risen 0.8% … (1 comments)

home selling: 2012 -- Year of the Political Economy - 01/23/12 07:35 AM
Fannie issued an article about how 2012 is the year of the political economy. Stating that the rise and fall of our housing market would be based entirely on how the economy itself fares this year. And so far so good. The housing sector is showing improvement due to gains in employment.
 
Not only that but Fannie believes the second half of this year will be great for the housing market because of positive consumer behavior. The global economy is to be considered when trying to make a housing forecast. But the Brightside of 2012 will show growth because of … (1 comments)

home selling: Here’s the Good News! - 12/05/11 06:57 AM
 
I always try to be a positive person and I try my hardest this time of year. Everyone should be jolly! So here are bits of good news I’ve discovered in the market recently…
Pending sales of existing U.S. homes surged in October by the most in nearly a year. And I should know, I’m in escrow on one- about to be two properties. My clients aren’t alone; Americans are taking advantage of low interest rates for mortgages. Sales of existing homes jumped in October, they are up 1.4%, rising to 4.97 million units from a downwardly revised 4.90 million … (2 comments)

home selling: Giving Thanks for an Improving Market! - 11/21/11 08:06 AM
As big as our t-day plates will be, I have even bigger plans for 2012. October’s home sales rose 1.4% to a seasonally adjusted annual rate of 4.97 million.  It’s growing ever nearer to the economists’ estimation of a healthy housing market.
 
The October increase in home sales beats analysts’ expectations. Just like my mother’s turkey recipe beats everyone else’s attempts. 
 
Activity among first-time buyers rose slightly last month to make up 34 percent of sales. That's up from 32 percent in September. First-time buyers are the last people I thought would come to the rescue of this … (3 comments)

home selling: Don't Believe the Holiday Hype - 11/14/11 08:40 AM
Many sellers that I have spoken to are all about the holidays being a bad time to put your house on the market. This has come as a shock to me seeing that I’ve sold homes over the holidays for the past 15 years.
The most common question for sellers is “When is the best time to put our house on the market? Answer: “Whenever you’d like.” In fact, there is a group of motivated, ready and willing buyers for nearly every possible home. 
I encourage people to think back to when they bought their home originally. Did you buy … (0 comments)

home selling: The Bill that Can Change the Market - 10/24/11 09:13 AM
The Bill that Can Change the Market
The newly proposed bipartisan Senate bill is poised to encourage foreigners to buy U.S. homes. The bill would allow foreigners who spend at least $500,000 on a residential property to obtain visas allowing them to live in the United States.
American consumers and the federal government have tried their darndest and not been able to bail out this real estate market. Now wealthy Chinese, Canadians and other foreign buyers could get their chance.
Two U.S. senators have introduced a bill that would allow foreigners who spend at least $500,000 on residential property to obtain … (2 comments)

home selling: How to Avoid a Potential Deal-Breaker - 10/03/11 10:20 AM
A hot topic in the real estate world: appraisals that are too low. The National Association of Realtors reported that 18% of real estate professionals saw contracts fall through when lenders rejected loan applications/ appraisals came in lower than expected. Appraisers keep taking the heat for more transactions being canceled and delayed, 11% of agents reported they had a contract cancel in the previous 3 months because of low appraisals.
The appraisal mess-ups are a difficult deal-breaker to avoid. The process is entirely out of agent and buyer/seller hands. But don’t give up! There are a couple of things buyers can … (3 comments)

home selling: Resale Value of Green Homes - 08/29/11 08:11 AM
 
 
Weather and nature are at the forefront of our thoughts after the East coast was slapped by Hurricane Irene. These times bring to mind new trends that everyone should know about. I am extremely passionate about green homes and real estate that's good for the soul, so the positive reviews on energy efficient and sustainable homes make me very happy. If your house was powered by solar panels, a big storm that knocks out your town’s electricity wouldn’t bother you so much.  
But let’s bring the benefits to resale value. Beyond the documentable savings on utility bills, do … (1 comments)

home selling: How to Price your Home - 08/26/11 07:29 AM
“We can always go down, but we can’t go up,” is a common phrase thrown around when deciding how to price a home. My clients and the clients of agent’s everywhere often want to leave a little “room to negotiate” in their original pricing by adding a few percentage points to the cost.
Here’s why adding that padding is often a mistake.
1.      It can limit the number of potential buyers who can afford your home. It reduces showings and creates an impression in the marketplace that the homeowners aren’t really serious about selling.  
2.      Serious homeowners who overprice their … (1 comments)