Monday, December 12, 2011

Why Put Your House on the Market During the Holidays?

Because buyers are serious, that's why!
santa looking through doorway.

A well-decorated home is enticing to buyers during the holidays. Photo: iStock
            
Why put your house on the market during the holidays?
With all of the chaos between now and New Year's, it seems it would be madness indeed to put a house for sale during the winter. But smart Realtors say it may just be the perfect time to put up the "for sale" sign.
One house-hunter turned real estate agent is Linda Kemp, who remembers she and her husband were transferred every couple of years and always right before the holidays.
Seal the Deal with All Your Senses "I have many fond memories of how beautiful the houses looked all decorated with lights and holiday garland," she recalled. "Many of the homes smelled of cinnamon and spices. All of my senses were in overdrive and I couldn’t wait to purchase a new home and lay down roots once again."
Now settled in the midwest in Naperville, Ill., she has resumed her real estate career and shakes her head in amazement when she watches her associates take their clients' homes off the market when winter rolls around.
"It's my experience, both personal and professional, that buyers who are looking at homes during this time of year are serious buyers indeed," she said. "I have watched homes sell right before Christmas. In fact, a few years back, one of my clients sold their home on New Year's Eve with the buyers signing a contract right there on the spot."
Los Angeles Realtor Lee Dworshak concurs. "Experience tells us that only the truly motivated home buyers and sellers are the ones who will be out there over the holiday season. While most folks close their doors just before Thanksgiving and don’t open them again until mid January, the folks that are willing to give of their time and perform the due diligence required during this period are really serious about buying or selling."
Don't Decline Showings
Kathy Keating, a Realtor in Boulder, Colo., believes there's always a buyer or a seller even during the holiday season so she doesn't enter into this time of year thinking it's going to be challenging. Her advice? Make is as easy as possible to have a showing. Don't decline showings and don't put time limits on them.
"It's a numbers game," she says. "The more people you get in the door, the better chance of selling your home. And it only takes one buyer. As far as a seller, the inventory is at its lowest right now and people are getting nervous and either renting their homes or just taking them off the market. People would like to see new homes."
Karlene Smith, a Realtor in Warren, Penn., finds that families often come back to where they grew up during the holiday season. "And if they're thinking of making a move back, now is the time they will be looking," she said.
She agrees that those looking for homes are serious buyers but she cautions real estate agents make sure potential buyers are pre-approved.
"You do not want to put the sellers and their families out in the cold and snow for a showing unless the buyer is capable of purchasing," she said.
And she has one very practical tip for showing a house during the holidays. "Since we are in the north we also have to deal with mud and snow during this time, one issue is the men wear work boots that lace up and taking them off to a view a home can be an inconvenience. What I suggest is buy the disposable booties that doctors wear in surgery. They are great for slipping over the boots keeping the sellers floors from damage."

Whether you're a current Birmingham resident who's hoping to move into your dream home, or you've been considering moving into the area and have questions about the Birmingham Real Estate market, please feel free to contact me! As an experienced Birmingham Real Estate agent, I can help you navigate through the home buying/selling process and ensure you are settled into your new Birmingham home in no time.


I look forward to hearing from you soon!


Pam Truex

Your Birmingham Real Estate Expert

Max Broock

Friday, March 12, 2010

Looking for a “bank owned” home this weekend?

Getting in the arena of purchasing a bank owned home this weekend? Be prepared to make a fast decision and to pay as much as 10% over the asking price. Often times there are multiple offers on the particular home you’re interested in. Odds are, if this is a great home, in a great area, there will be great offers. You find yourself making a decision and your agent is telling you, make your highest and best offer, and make it a good one. Chances are….They are right. Go for it!!!! Home sweet home!

Monday, January 25, 2010

Roadblocks in the way of a Healthy Market

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Pam Truex

Truly committed to excellence.

www.PamTruex.com

Max Broock

275 S. Old Woodward

Birmingham, MI 48009


Dear Homeowners,

The two biggest roadblocks to get our market back on track are the competition from the foreclosures, many at absurdly low prices, and the imbalance of supply to demand. The number of foreclosures in the active listing inventory in counties around the country around the country are extremely high. Until there are virtually no more foreclosures to be sold, they will continue to pollute our markets as buyers set these prices as their expectations of the value for the neighborhoods where they are located. Our realtor community is the only source of resolution to this problem. They assist sellers to focus on getting their homes listed and sold at current market value. These sales will then be “so far back in the rear view mirror,” that they will no longer be in the pool of comparables which the appraisers must use...which often corrupts transactions on the (non-foreclosure) properties.



Pam Truex


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Monday, January 18, 2010

Changes in the foreclosure market we foresee for 2010.

Changes in the foreclosure market we foresee for 2010.

Changes in the foreclosure market
we foresee for 2010.
By Rick Sharga
Senior Vice President, RealtyTrac Inc.

Overall, we expect an ample supply of discounted foreclosures to be available in 2010, but pent-up demand and record-low cost of ownership will ensure the best deals will be snatched up quickly by well-prepared bargain hunters. Most local markets won’t experience a double-dip in home prices during the year, but the prime buying conditions in place now may be gone by year’s end.

It’s likely that we’ll set a new record in terms of overall foreclosure activity for the fourth consecutive year. Over 1.3 million U.S. households received a foreclosure notice in 2007; over 2.3 million received notices in 2008; and although the 2009 numbers haven’t been completely counted at the writing of this article, there will be somewhere in the vicinity of 2.8 to 3 million households in foreclosure. We’re likely to see more than this in 2010, with the number of homeowners in foreclosure probably exceeding 3.5 million, before the trend begins to reverse itself sometime in 2011.

Saturday, January 9, 2010

First Time Home Buyer Tax Credit Extended with More

On November 9th, 2009, President Barack Obama signed on approving the First Time Home Buyer Tax Credit of up to $8,000 until April 30th, 2010. Anyone who has not owned a house within 3 years of the purchase is eligible. Existing homeowners that have lived in their home for the past 5 consecutive years and are purchasing another home for their principal residence may also be eligible for a $6,500 Credit. Homes purchased after November 6th, 2009 and before April 30th, 2010 will be eligible as long as closings occur before July 1st, 2010. Buyers must be 18 years of age in order to collect. With Mortgage rates at a historical low, combined with the supply of homes for sale, there has never been a better time to be a Buyer. The tax credit is just icing on the cake. If you are going to buy a house in the next year, Don't miss out on this opportunity!!