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selling homes: Sell Now or Wait for a Real Housing Recovery? - 11/20/12 11:09 AM
Homeowners struggling to deal with the consequences of the sluggish recovery in home prices are wondering if they should sell now or wait for a real housing recovery; and the answers are as varied as the local markets. One of the keys to answering the question is motivation. Across the country motivated sellers have reentered the market and are finding conditions much better than they imagined.
While the collapse of the housing market and subsequent recession left millions of homeowners underwater, owing more on their home than it would bring on the market, the past year has seen significant (75 comments)
According to the S&P/Case-Shiller home price index, typical home prices in July “rose” to the level of nine years ago . . . not exactly a sterling achievement, especially when compared to the boom times of just a few years ago. However, the increase can be interpreted as good news for those who have seen their home’s value fall below the amount of their mortgage. And while it’s certainly not time to sing, “Happy Days Are Here Again,” the clouds that have darkened the housing market for the past five years may be showing some signs of dispersing.
While opinions vary on where home prices are headed during the next couple of years, most agree that we’ve begun to see the stabilization we’ve hoped for during the past five years. But stabilization is far from a return to the heady days of 2005/2006; and it is also far from what most homeowners—many of whom counted their home’s equity as a significant portion of their net worth—might like to see.
However, the issue for most homeowners is simply, “Will I ever recoup the 'losses' sustained during the housing crash?” (11 comments)
As a homebuilder for four decades I’ve always been aware that when it comes to building, buying or selling homes, clean isn’t just nice, it’s essential. A clean house under construction acts as an incentive to subcontractors to keep their work areas clean and seems to encourage them to pay attention to details. Additionally, a clean construction site is a safer site for workers, agents and potential buyers. And though cleanliness might not be akin to godliness, it is certainly a critical component of good construction practices.
Clean homes are more appealing to potential buyers while a lack (6 comments)
selling homes: Home Sellers Should Forget the Headlines and Call a Local Real Estate Agent - 02/16/12 08:17 PM
Homeowners get it; the U.S. housing market is still far from “normal,” with new horror stories beig reported daily. Many wonder if they’ll be stuck in their homes forever. However, the reality is that the real estate statistics reported nationally are meaningless to the average homeowner. Yes, real estate is local, and has always been that way.
Home sellers should forget the headlines and call a local real estate agent, the best one they can find. Local agents are the experts on local markets; they know what’s happening locally, the only statistics that truly matter to those wishing (6 comments)
selling homes: Real Estate Profits Are Made on the Purchase not the Sale - 01/05/12 01:26 PM
With large numbers of investors and others seeking to take advantage of low home prices, many remain unaware that real estate profits are made on the purchase not the sale. Sadly, millions of current homeowners and others who may have already lost homes to foreclosure overlooked the economic realities of their purchase.
In past years, especially those of the recent housing boom, profiting from a home purchase was the norm, and sometimes those profits were dramatic. However, most now realize that the gains received were artificially driven by a combination of loose lending policies and direct government interference in (11 comments)
Okay, so the de-cluttering, staging and upgrades have paid off and you’ve received an offer to purchase your home. Is your “Mission Accomplished?” And what do you do next? If the offer you received is full price with few or no significant stipulations, proceed to “Go” and collect $200 and declare yourself a winner.
The above scenario does happen . . . rarely, but it’s probably not what you’re currently facing. Your offer is probably below your asking price, perhaps well below. Is it possible to work out a price that will be acceptable to both you (4 comments)
selling homes: Selling a Home Is Much More Than Signing a Listing Agreement - 12/08/11 04:59 PM
As many homeowners have discovered, selling a home is much more than signing a listing agreement. In today’s housing market, sellers are competing with foreclosures, short sales and neighbors willing to forgo the profits common in past years. Those serious about selling understand the demands of the market and the expectations of buyers looking to capitalize on the best values in a decade.
Recently my daughter found a building lot near her present home that was being offered for sale by a local bank. And as the selling price seemed very attractive, she and her husband decided that it (10 comments)
In searching for a home, price may be a major factor, but one of the first and most critical issues to consider is location. Is the home in an area where you want to live, and equally important, will the area appeal to future potential buyers? Is it within a reasonable distance from of work, shopping, schools, churches, etc.? If not, you should probably rule it out. If you need a home within easy walking distance of specific amenities, check out: www.walkscore.com. This website uses a scoring system to evaluate the “walk-ability” of properties, (8 comments)
selling homes: Ben Bernanke Spoils the Urgency Argument for Home Sellers - 08/22/11 03:11 PM
Just when you think the housing market can’t get more difficult, Ben Bernanke spoils the urgency argument for home sellers. The Fed’s recent commitment to maintain historically low interest rates for the next two years has erased hope for many who were waiting for buyers to purchase due to concerns over the potential for rising rates. Additionally, concern over falling home prices has many buyers confident that playing the waiting game is to their advantage. And with conditions as they are, it’s hard to disagree.
Overall, this is not good news for sellers—and not good news for the rest (14 comments)
selling homes: Will the Housing Market Ever Return? - 06/02/11 09:03 AM
John Boehner was recently quoted as being “skeptical” that there is “anything government can do” to bring about a recovery in housing; but will the housing market ever return? The media love such comments as Speaker Boehner’s, and readily plaster them across TV screens and front pages; however, the answer is much more complicated than can be described in headlines. In an effort to simplify complicated subjects and to appeal to the largest audience, news reports often paint a somewhat distorted picture of what’s actually occurring. Here are some hard facts about housing:
The downward spiral of home prices. (9 comments)
selling homes: Advice Home Buyers/Sellers Won’t Find On TV - 10/02/10 02:51 PM
Eager homebuyers and nervous sellers are often confused by conflicting news stories, most of which focus upon the more sensational aspects of the housing market and economy. With TV, major newspapers, magazines, and Internet sites bombarding consumers with ever-changing economic news, many are paralyzed in fear of taking action either too soon or too late.
Sellers want to know if home prices are still falling, and if they’ll be able to compete with foreclosures and short-sales. Buyers also want to know if home prices are falling; and if they are, how long they should wait to get the best deal. (85 comments)
selling homes: Have a Question That Relates to Housing? Ask The Housing Guru - 08/18/10 06:29 PM
The Housing Guru has now added a section for asking housing related questions. Need to know how to repair a leaky faucet, which type paint to use, how to prepare your home for sale, or how to find the best housing deals. Drawing upon 4 decades of experience in buying, selling, building, and remodeling homes, The Housing Guru is available to answer your toughest questions.
Questions which may benefit others will be posted on the site. Have a question that relates to housing? Ask The Housing Guru.
The Housing Guru: The expert source for all your housing questions (0 comments)
selling homes: The Negativity Associated with Housing Could Impact the Market for Years - 08/17/10 11:08 PM
The constant stream of news stories about foreclosures, increased housing inventory, and the virtual collapse of home builders’ confidence may foretell a disturbing trend; and the negativity associated with housing could impact the market for years. Once seen as a solid investment, residential real estate has lost its allure for those who saw it as an effortless means of enhancing retirement savings. However, with an economy still struggling to come out of the worst recession in three quarters of a century, many have changed their opinion.
Having lost much of its perceived investment potential, housing must now rely to its (10 comments)
However, while sellers’ options are limited, they’re not nonexistent. Of course conditions vary around the country, but I’m addressing those areas where sales are sluggish and competition is fierce. There are three steps that I consider essential for those who must sell their home. (10 comments)
selling homes: Create An Exterior Sanctuary To Gain An Advantage When Selling - 03/30/10 02:35 PM
In today’s competitive housing market, sellers can create an exterior sanctuary to gain an advantage when selling. With consumers maintaining a tight grip on their purses, many are looking for ways to make their home environment more attractive and enjoyable. And with the warm summer months just ahead, appealing to American’s love of outdoor spaces can significantly increase a home’s charm.
Creating or updating areas for privacy, entertainment, play, or gardening will have an almost universal appeal, and it just may create the competitive edge needed to generate a sale. Much of the work is not necessarily expensive, with many (27 comments)
selling homes: 10 Tips To Help Sell Your Home That Won’t Break The Bank - 03/12/10 09:22 AM
Today’s housing market has left many homeowners owing more on their home than it’s worth and others with so little equity that selling seems difficult if not impossible. Homeowners who need to sell, but have no budget for making their home more appealing by making upgrades or repairs may find the following tips helpful. Each of these can be accomplished with little or no money and can make a dramatic difference in the appearance and appeal of a home.
Exterior: 1. View your home from the street as prospective buyers will see it as they approach. Then, increase the (19 comments)
selling homes: Are Home Sellers Becoming More Realistic On Pricing? - 12/02/09 06:51 PM
One of the biggest problems today’s home sellers face is coming to terms with the realities of price. For many who watched the dramatic rise of their homes value during the past decade, the truth hurts. Homeowners who had wished to trade up and to use their existing equity as a source of down-payment have made the depressing discovery that the equity they thought secure, was wiped out as home prices plummeted. Others who just wanted to “cash in” on their home’s equity in order to downsize and save for retirement have also been disappointed.
There was another group, (13 comments)
selling homes: Think Resale - 10/15/09 09:06 PM
A factor that is often overlooked when purchasing a home is the ease with which that home can be re-sold. While we may find wonderful homes in neighborhoods that meet our every requirement and plan to stay there for a lifetime, THINGS CHANGE. The unpredictable happens. Family sizes, relationships, work location, and lifestyles are not as permanent as we might wish and can change dramatically. Virtually all homes bought will be sold at some future time. Homebuyers should always think resale.
When selecting a home, the resale factor must be considered. Though the importance of resale may be less (6 comments)
selling homes: The Cold, Hard Facts for Sellers - 06/08/09 01:36 PM
Trying to sell in today’s market? Don’t understand why your Realtor® can’t bring you an acceptable offer? Perhaps you haven’t even seen an unacceptable offer. Is it time to consider changing Realtors®? You know the market is tough, but other houses have sold, why not yours?
Yes, it’s a tough market, probably tougher than you’ve ever encountered; and the ingredients for creating a sale are different from a couple of years ago. Not only do you need the best agent available, YOU MUST PARTICIPATE. Otherwise, take your home off the market, for you’re wasting everyone’s time.
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.