MAIN ARTICLE
Properties are Still Moving. They have to be Priced Right! Many homes are sitting way too long! There are many factors that can be impacting your home selling. Here are just a few to consider: Poor Market – Sure the national news is not good. They are always reporting the doom and gloom of the real estate market, but, many of you might disagree and even say your local market is moving homes pretty well. It is up to local real estate associations, MLS, clubs, and real estate agents to participate in local opportunities to present the “true” picture of their real estate market place. Look for opportunities to set proper perceptions and this will in turn drive new buyers back to purchasing. Getting a Loan - Yep, times are tough. The lending process and qualification have tightened way up. Is this a bad thing? I don’t think so. We need to avoid the type of foreclosures that are happening out there today. So, can you get a loan? Sure, with a good credit, down money and demonstrating a sound work history there are still good loans out there. Discuss with potential buyer’s getting prequalified so they know whether they can or can not afford to purchase. This will avoid anyone from wasting their valuable time. Price it Right – The market was so strong two years ago, but you can’t price a house today like it is still a strong seller’s market. You are only going to frustrate the owner and yourself due to the property not selling. Consider using multiple sources beyond just the MLS to determine a truly good price for the home. If there are 10 homes for sales and yours looks the best and is priced right. It is going to sell! In closing, it is everyone responsibility to help improve our local market. If you are a real estate professional, investor, or lender see how you can help create a more positive outlook on what is going on. It is easy to share the doom and gloom, but it is much harder to look for the silver lining. Being positive can be contagious! It's a Buyers Market, so remember to haggle! There is one piece of good news in this oh so sluggish real estate market, it’s this: the buyer’s are in charge. You can determine the fair market value of a property or investment home (fixtoflip) and offer less. They might not take your offer, but you don’t know and you don’t know their motivation for selling. So, don’t give up and keep negotiating. With there being a flood of current inventory good deals can be found. Consider working with an experienced Buyer’s Agent. They are always going to represent your best interests and will work hard to find you a property that meets your home finder’s needs. Remember finding a good real estate agent is just like finding a good employee. You should interview several until you find someone who is the right fit for your business or personal needs. So, remember it is a great Buyer’s Market and haggling is fine! FLIP TIPS Make sure to invest in the right tools to minimize your admistrative time in running your flip business. Consider purchasing Kiplinger's Business Attorney to help you with your agreements or formal documents.
Many homes are sitting way too long! There are many factors that can be impacting your home selling. Here are just a few to consider: Poor Market – Sure the national news is not good. They are always reporting the doom and gloom of the real estate market, but, many of you might disagree and even say your local market is moving homes pretty well. It is up to local real estate associations, MLS, clubs, and real estate agents to participate in local opportunities to present the “true” picture of their real estate market place. Look for opportunities to set proper perceptions and this will in turn drive new buyers back to purchasing. Getting a Loan - Yep, times are tough. The lending process and qualification have tightened way up. Is this a bad thing? I don’t think so. We need to avoid the type of foreclosures that are happening out there today. So, can you get a loan? Sure, with a good credit, down money and demonstrating a sound work history there are still good loans out there. Discuss with potential buyer’s getting prequalified so they know whether they can or can not afford to purchase. This will avoid anyone from wasting their valuable time. Price it Right – The market was so strong two years ago, but you can’t price a house today like it is still a strong seller’s market. You are only going to frustrate the owner and yourself due to the property not selling. Consider using multiple sources beyond just the MLS to determine a truly good price for the home. If there are 10 homes for sales and yours looks the best and is priced right. It is going to sell! In closing, it is everyone responsibility to help improve our local market. If you are a real estate professional, investor, or lender see how you can help create a more positive outlook on what is going on. It is easy to share the doom and gloom, but it is much harder to look for the silver lining. Being positive can be contagious! It's a Buyers Market, so remember to haggle! There is one piece of good news in this oh so sluggish real estate market, it’s this: the buyer’s are in charge. You can determine the fair market value of a property or investment home (fixtoflip) and offer less. They might not take your offer, but you don’t know and you don’t know their motivation for selling. So, don’t give up and keep negotiating. With there being a flood of current inventory good deals can be found. Consider working with an experienced Buyer’s Agent. They are always going to represent your best interests and will work hard to find you a property that meets your home finder’s needs. Remember finding a good real estate agent is just like finding a good employee. You should interview several until you find someone who is the right fit for your business or personal needs. So, remember it is a great Buyer’s Market and haggling is fine! FLIP TIPS Make sure to invest in the right tools to minimize your admistrative time in running your flip business. Consider purchasing Kiplinger's Business Attorney to help you with your agreements or formal documents.
In closing, it is everyone responsibility to help improve our local market. If you are a real estate professional, investor, or lender see how you can help create a more positive outlook on what is going on. It is easy to share the doom and gloom, but it is much harder to look for the silver lining. Being positive can be contagious!
It's a Buyers Market, so remember to haggle! There is one piece of good news in this oh so sluggish real estate market, it’s this: the buyer’s are in charge. You can determine the fair market value of a property or investment home (fixtoflip) and offer less. They might not take your offer, but you don’t know and you don’t know their motivation for selling. So, don’t give up and keep negotiating. With there being a flood of current inventory good deals can be found. Consider working with an experienced Buyer’s Agent. They are always going to represent your best interests and will work hard to find you a property that meets your home finder’s needs. Remember finding a good real estate agent is just like finding a good employee. You should interview several until you find someone who is the right fit for your business or personal needs. So, remember it is a great Buyer’s Market and haggling is fine!
You can determine the fair market value of a property or investment home (fixtoflip) and offer less. They might not take your offer, but you don’t know and you don’t know their motivation for selling. So, don’t give up and keep negotiating. With there being a flood of current inventory good deals can be found. Consider working with an experienced Buyer’s Agent. They are always going to represent your best interests and will work hard to find you a property that meets your home finder’s needs. Remember finding a good real estate agent is just like finding a good employee. You should interview several until you find someone who is the right fit for your business or personal needs. So, remember it is a great Buyer’s Market and haggling is fine!
Consider working with an experienced Buyer’s Agent. They are always going to represent your best interests and will work hard to find you a property that meets your home finder’s needs. Remember finding a good real estate agent is just like finding a good employee. You should interview several until you find someone who is the right fit for your business or personal needs. So, remember it is a great Buyer’s Market and haggling is fine!
FLIP TIPS
Make sure to invest in the right tools to minimize your admistrative time in running your flip business. Consider purchasing Kiplinger's Business Attorney to help you with your agreements or formal documents.
IN THIS ISSUE:• Latest News• Main Article• Special Note• Flip Tips• Success Story• Cool Flipping Websites
LATEST NEWS
Landmark Housing Bill Awaits Signature of President Bush
The key elements of the bill are: A temporary first-time home buyer tax credit. The tax credit will stimulate home buying, reduce excess supply in housing markets and shore up home prices. FHA modernization. A revitalized FHA will have greater flexibility to respond to the needs of borrowers, enable more working families to become home owners and play an important role in the mortgage markets. To address the foreclosure crisis, the FHA will guarantee up to $300 billion to refinance troubled mortgages with federal insurance. GSE (government-sponsored enterprise) reform. The law reforms the regulation of Fannie Mae and Freddie Mac and permanently increases the conforming loan limit to help buyers in high-cost markets. To reassure financial and global markets, the government will temporarily expand its line of credit to Fannie and Freddie and permit the U.S. Treasury to purchase an equity stake in the companies through the end of 2009. Mortgage Revenue Bond Program. The measure gives states the ability to issue an additional $11 billion in mortgage revenue bonds, which will help strapped borrowers seeking to refinance their home loans. Low Income Housing Tax Credit. Enhancing this program will expand the supply of much-needed affordable rental housing. To read the legislation, click here and enter H.R. 3221 in the box at the center of the page. Also, for full story: Nations Building News
To read the legislation, click here and enter H.R. 3221 in the box at the center of the page. Also, for full story: Nations Building News
Cool Flipping Websites
There is an interesting company that offer educational classes on helping you become a Real Estate Investor. Here is the link to check them out:
SPECIAL NOTE
FixtoFlip.com was asked to share some information for this article. We were glad to have the opportunity to work with PopularMechanics.com and they did a terrific job on the article. The article was done by: Joseph Truini
1. Enhance the Curb Appeal
First impressions are never more important than when trying to sell a home. Put yourself in the shoes of a prospective buyer. Stand near the street and look with an objective eye at your house, yard, driveway and gardens. Make note of all items that need to be fixed, painted, cleaned or removed. How important is curb appeal? Very, according to Dan Dunleavy, founder of FixtoFlip.com. He says that most people pass judgment on your house within the first 30 seconds. And that's before ever setting foot inside! So follow these six quick and easy tips: Fertilize the lawn and cut it. Trim the edges along all sidewalks and other paved surfaces. Remove leaves and fallen debris, such as twigs, pine cones and seed pods. Trim shrubs and hedges, and remove dead limbs from trees. Fill flowerbeds with fresh mulch and plant brightly colored flowers. Apply a fresh coat of sealer to worn asphalt driveways, and power-wash concrete driveways. Clear the front and side yards of all extraneous stuff, such as bicycles, lawnmowers, garden tools, wheelbarrows and your brother-in-law. Inspect your home's exterior for things that need to be fixed or replaced, such as ripped window screens, sagging gutters, broken balusters or peeling paint. Pay particular attention to the obvious, highly noticeable areas. "I've seen buyers turned off simply because the front door was dirty and scuffed up," says Amy Willaby, a Re/Max real estate agent in Dallas. The same advice applies to outdoor structures not attached to the house. Crooked gates need repair-as do sagging fences, frost-heaved stone steps or cracked concrete walks.
To read the full article: PopularMechanics.com
