I’m sure that many are asking the same question. I continually keep on hearing that the buyers are waiting for the market to settle down. Buyers are waiting for that killer deal. Buyers are waiting....
OK, so we’ve had a reality lesson for sellers. It’s time for a reality check for buyers. In the Central Florida area, as I am sure with many parts of the country, the real estate housing market has settled down. Yes, there is a great deal of inventory out there, but homes are being sold. Granted, not at as fast a clip as the past few years. But let’s get realistic, that was an anomaly. I doubt if we will see anything like that for a very long time to come.
Sellers seem to be somewhat more realistic in that they are pricing their homes accordingly. I don’t know what so many have in their minds that the market still needs to adjust. It did that last year and that was really finalized by the end of the year. Prices aren’t dropping. They shouldn’t. There are some great values out there. You can actually purchase a home now and walk in their with some equity. Not like what we saw in ’05. This is the way a normal market is supposed to operate.
Prices are not going to go down lower & the interest rates have remained quite low also. This is a great time to purchase a home. There is generally price and value built into these homes. If there isn’t, then move on to the next property. There are enough out there to choose from.
I know some are now blaming the sub-prime market, but then again, these are people that are just always looking for something to blame. Yes, the sub-prime market took a hit. Well, heck, they shouldn’t have issued so many risky, really risky loans. But, there is money out there for people with ‘B/C’ credit. It can be found.
Hello folks, the market has bottomed out. It’s as simple as that. It has turned the corner. I’m not just saying this because I would like some buyers. The stats prove this out as do some of the articles finally being put into print.
I just sold a couple of homes within 45 days in this market. No, they were not underpriced. But, we were able to show Price & Value & everyone walked away from the tables feeling like a winner.
Til next time – Marc It Sold!
Friday, March 30, 2007
Friday, March 16, 2007
Why do people think we are Stupid?!?
It's just absolutely amazing to me that people must think we are stupid. Here are two things in particular that I've just come across.
My last post had to do with the Florida property tax issue. This morning I received an email from a realtor in Miami that must be a supporter of Marco Rubio, the House Speaker. Let me just give you a brief history here. He is proposing that we eliminate the property tax on primary residences & reduce the property tax on other properties by 20%. To offset this revenue loss he is wishing to increase the state sales tax by 2.5%. Ok, so here's what their website states, "Lower taxes and lower tax rates on apartment buildings and other businesses will reduce rents and keep rental housing affordable." Who is kidding whom here? Let's say you have a landlord who is receiving X dollars for rent on a unit & the property tax on that unit is reduced. Do you think that this landlord will reduce the rent below the X dollars that are getting now? But yet, there they have it in writing trying to persuade you to their point of view. They will get some people to believe them & I guess that this is enough - that is what they are after.
OK, enough of that one. Here's another I encountered the other day from an insurance agent. I decided to shop around because the insurance on my primary residence just went up way too high and too fast. Again, a brief history, I decided to change agents a couple of years back. The main reason for this is that I needed an Umbrella Policy to better protect my interests & myself. Two years ago, I paid $860 yearly insurance on my primary residence, which was higher than I'd previously paid, but was willing to do so. Last year, this increased to $1030 & this year my renewal came in at $1453. I had one claim back in '08 & the home is just over 10 years old.
So now to the story, I was shopping around and speaking to an agent. She said to me that our rates would not be this high right now if insurers were charging the correct amount all along. She further stated that our insurance rates in Florida have been much too low for too long. OK, so here's my issue with these statements. Insurers have actuaries work for them. These mathematicians create formulas that the insurers use in rating risk. Risk is the underlying factor in insurance. Things are cyclical - whether we are talking about the weather, life, real estate - it really all is very cyclical. So, getting back to insurers, do you think that they are not going to charge us enough to cover their risk? Seriously, now. This is what this woman was telling me.
The insurers ran this garbage back after Andrew in '92 and again after all of the '04 hurricanes. Granted, '04 was an anomaly, but how many years did we go without any severe storms that cost the insurance companies. If you look at their books, you will note that they are still making a profit.
Anyway, enough of my ranting! I just really ticks me off when people think we are stupid. It's fine to get your point across, but be realistic. Don't make it out that we are stupid! That is just such a lack of respect & that is something that I will not deal with. We all deserve respect!
Thanks again for listening to my meanderings.
Until next time - Marc It Sold!
My last post had to do with the Florida property tax issue. This morning I received an email from a realtor in Miami that must be a supporter of Marco Rubio, the House Speaker. Let me just give you a brief history here. He is proposing that we eliminate the property tax on primary residences & reduce the property tax on other properties by 20%. To offset this revenue loss he is wishing to increase the state sales tax by 2.5%. Ok, so here's what their website states, "Lower taxes and lower tax rates on apartment buildings and other businesses will reduce rents and keep rental housing affordable." Who is kidding whom here? Let's say you have a landlord who is receiving X dollars for rent on a unit & the property tax on that unit is reduced. Do you think that this landlord will reduce the rent below the X dollars that are getting now? But yet, there they have it in writing trying to persuade you to their point of view. They will get some people to believe them & I guess that this is enough - that is what they are after.
OK, enough of that one. Here's another I encountered the other day from an insurance agent. I decided to shop around because the insurance on my primary residence just went up way too high and too fast. Again, a brief history, I decided to change agents a couple of years back. The main reason for this is that I needed an Umbrella Policy to better protect my interests & myself. Two years ago, I paid $860 yearly insurance on my primary residence, which was higher than I'd previously paid, but was willing to do so. Last year, this increased to $1030 & this year my renewal came in at $1453. I had one claim back in '08 & the home is just over 10 years old.
So now to the story, I was shopping around and speaking to an agent. She said to me that our rates would not be this high right now if insurers were charging the correct amount all along. She further stated that our insurance rates in Florida have been much too low for too long. OK, so here's my issue with these statements. Insurers have actuaries work for them. These mathematicians create formulas that the insurers use in rating risk. Risk is the underlying factor in insurance. Things are cyclical - whether we are talking about the weather, life, real estate - it really all is very cyclical. So, getting back to insurers, do you think that they are not going to charge us enough to cover their risk? Seriously, now. This is what this woman was telling me.
The insurers ran this garbage back after Andrew in '92 and again after all of the '04 hurricanes. Granted, '04 was an anomaly, but how many years did we go without any severe storms that cost the insurance companies. If you look at their books, you will note that they are still making a profit.
Anyway, enough of my ranting! I just really ticks me off when people think we are stupid. It's fine to get your point across, but be realistic. Don't make it out that we are stupid! That is just such a lack of respect & that is something that I will not deal with. We all deserve respect!
Thanks again for listening to my meanderings.
Until next time - Marc It Sold!
Wednesday, March 14, 2007
Florida’s Property Tax Fiasco!!
I obviously haven’t written in a couple of months. It is not that I had not wanted, but did not wish to write about the same topic that has been so prevalent, the local market. I was firstly concerned about the negativity that some may derive from this, even though we are in a quite healthy market in Central Florida. I also needed some more inspiration to write.
A client of mine had suggested that I write about the property tax issue that we are experiencing. My first thought & reply was ‘no’. I did not want to write about such a controversial topic. Now, many of you who know me, would be surprised by this response. And you would be rightly so. So, here goes.
I am not aware of what is happening in other parts of the country, but here in Florida we are in the midst of a property tax system that is quite flawed. My concerns are varied, but one major concern is that the politicians will try to do a quick fix & tell us what a wonderful job that they’ve done in saving us money, only to cost us more in the long run down the road.
There is history behind this, which I’ve previously written about. We have in Florida SOH (Save Our Homes), which was passed in 1992. This limited the Taxable Value of your home to a 3% increase, if such is your primary residence. The purpose of this tax measure was to help the elderly from being taxed out of their homes. Unfortunately, even though this may have helped accomplish that task, it more benefited the well to do with expensive mansions, etc. They received a larger benefit.
Now, many proposals are being pandered about to supposedly fix our flawed property tax system. But to fix a flawed system with an equally flawed system is ludicrous.
One of the main proposals is to eliminate our property tax (on your primary residence) and have this replaced with a higher State Sales Tax. While some may feel that this is fair, it really isn’t. Again, the people that will benefit the most as those that have. The people with the mansions (big expensive homes or whatever you wish to call them) will benefit the most. The people that don’t have, those in the lower income brackets, will end up paying more via a higher sales tax and if will affect their pocketbook more.
Not only that, but this is just as inequitable to the renters. They too will be paying a higher sales tax and they are not even property owners. Some may jump the gun and say well everyone should have a larger share in paying for governmental services. But you have to remember that the owner of that apartment complex is already paying property taxes, they would not be exempt if there were a repeal of the property tax laws for primary residences.
It’s also been talked about that a Florida resident should be able to take their current SOH with them when they move; and, generally to a more expensive home. This would only worsen an already flawed system.
And doubling the homestead exemption is not really the answer also. The property appraisers are already shoring up their books and the tax rolls for a change. It generally used to be that the ‘Just Market Value’ on the property appraiser’s tax rolls was approximately 80% of the fair market value on the open market. With the increase in home values that we’ve seen over the past several years, this number became a much lower percentage. But if you check out the property ‘Just Market Values’ now (Orange County, in particular), you will see that many are at approximately 89%. So, you can see that the property appraisers are already trying to shore up values depending on what happens in the legislature.
Let me put this in another perspective. I have a friend whose home is on the market. They purchased the home 10 years ago and their property tax for 2006 with the SOH & Homestead Exemption came to $844. A prospective purchaser asked me what their taxes would be & when I figured it out I was totally astonished. Now, let me preface this first in that this is a lovely home, albeit under 1300sf in a middle class neighborhood. For the new buyer, their first year taxes would be almost $3200 and this is with the Homestead Exemption still in place.
You also need to be wary, because according to the property appraiser’s website, the Assessed Value of this home with the SOH went up 15%. What happened to the 3%? Most people wouldn’t even know. They don’t check their tax bills. It is generally escrowed in with your mortgage payments.
Let’s take a couple of steps back for a moment. Let’s say that the property tax on our primary residence is eliminated. What do you think will happen a few years down the road when they realize that there is not enough revenue coming in from the sales tax? I can tell you what I think - lo and behold, we will find ourselves with another property tax. What do you think will stop the legislature in doing that? By that time, we should have another administration in office and the blame will be put on them. Think about it!!
Additionally, there is another aspect to consider. With the elimination of a property tax, there would be a loss of jobs in that there would be less need for the local property appraisers and tax collectors. Now the monies would be going directly to the state and then funneled down to the local counties & municipalities. Granted, I’m sure there is a lot of ‘fat’ at the lower levels of government as there are at the upper levels. Maybe, this might be good in that they would have to trim a lot of that since the monies would now be coming from elsewhere. And maybe there would have to be more accountability. Only time will tell on this issue.
So, this is not an easy fix. But it also cannot be a quick fix. In doing so you will only be replacing one flawed system with another. What purpose does that serve, except for someone in power saying that they did something? Well, whoop de doo! If doing so leaves us in a similar or worse situation down the road, have you really helped anyone? Or are you really only helping your cronies? Beware, there are many lobbyists & PR people out there that will try to sell us a bill of goods. Just be wary! Be very, very wary as Elmer Fudd might say.
Until next time – Marc It Sold!
A client of mine had suggested that I write about the property tax issue that we are experiencing. My first thought & reply was ‘no’. I did not want to write about such a controversial topic. Now, many of you who know me, would be surprised by this response. And you would be rightly so. So, here goes.
I am not aware of what is happening in other parts of the country, but here in Florida we are in the midst of a property tax system that is quite flawed. My concerns are varied, but one major concern is that the politicians will try to do a quick fix & tell us what a wonderful job that they’ve done in saving us money, only to cost us more in the long run down the road.
There is history behind this, which I’ve previously written about. We have in Florida SOH (Save Our Homes), which was passed in 1992. This limited the Taxable Value of your home to a 3% increase, if such is your primary residence. The purpose of this tax measure was to help the elderly from being taxed out of their homes. Unfortunately, even though this may have helped accomplish that task, it more benefited the well to do with expensive mansions, etc. They received a larger benefit.
Now, many proposals are being pandered about to supposedly fix our flawed property tax system. But to fix a flawed system with an equally flawed system is ludicrous.
One of the main proposals is to eliminate our property tax (on your primary residence) and have this replaced with a higher State Sales Tax. While some may feel that this is fair, it really isn’t. Again, the people that will benefit the most as those that have. The people with the mansions (big expensive homes or whatever you wish to call them) will benefit the most. The people that don’t have, those in the lower income brackets, will end up paying more via a higher sales tax and if will affect their pocketbook more.
Not only that, but this is just as inequitable to the renters. They too will be paying a higher sales tax and they are not even property owners. Some may jump the gun and say well everyone should have a larger share in paying for governmental services. But you have to remember that the owner of that apartment complex is already paying property taxes, they would not be exempt if there were a repeal of the property tax laws for primary residences.
It’s also been talked about that a Florida resident should be able to take their current SOH with them when they move; and, generally to a more expensive home. This would only worsen an already flawed system.
And doubling the homestead exemption is not really the answer also. The property appraisers are already shoring up their books and the tax rolls for a change. It generally used to be that the ‘Just Market Value’ on the property appraiser’s tax rolls was approximately 80% of the fair market value on the open market. With the increase in home values that we’ve seen over the past several years, this number became a much lower percentage. But if you check out the property ‘Just Market Values’ now (Orange County, in particular), you will see that many are at approximately 89%. So, you can see that the property appraisers are already trying to shore up values depending on what happens in the legislature.
Let me put this in another perspective. I have a friend whose home is on the market. They purchased the home 10 years ago and their property tax for 2006 with the SOH & Homestead Exemption came to $844. A prospective purchaser asked me what their taxes would be & when I figured it out I was totally astonished. Now, let me preface this first in that this is a lovely home, albeit under 1300sf in a middle class neighborhood. For the new buyer, their first year taxes would be almost $3200 and this is with the Homestead Exemption still in place.
You also need to be wary, because according to the property appraiser’s website, the Assessed Value of this home with the SOH went up 15%. What happened to the 3%? Most people wouldn’t even know. They don’t check their tax bills. It is generally escrowed in with your mortgage payments.
Let’s take a couple of steps back for a moment. Let’s say that the property tax on our primary residence is eliminated. What do you think will happen a few years down the road when they realize that there is not enough revenue coming in from the sales tax? I can tell you what I think - lo and behold, we will find ourselves with another property tax. What do you think will stop the legislature in doing that? By that time, we should have another administration in office and the blame will be put on them. Think about it!!
Additionally, there is another aspect to consider. With the elimination of a property tax, there would be a loss of jobs in that there would be less need for the local property appraisers and tax collectors. Now the monies would be going directly to the state and then funneled down to the local counties & municipalities. Granted, I’m sure there is a lot of ‘fat’ at the lower levels of government as there are at the upper levels. Maybe, this might be good in that they would have to trim a lot of that since the monies would now be coming from elsewhere. And maybe there would have to be more accountability. Only time will tell on this issue.
So, this is not an easy fix. But it also cannot be a quick fix. In doing so you will only be replacing one flawed system with another. What purpose does that serve, except for someone in power saying that they did something? Well, whoop de doo! If doing so leaves us in a similar or worse situation down the road, have you really helped anyone? Or are you really only helping your cronies? Beware, there are many lobbyists & PR people out there that will try to sell us a bill of goods. Just be wary! Be very, very wary as Elmer Fudd might say.
Until next time – Marc It Sold!
Monday, January 8, 2007
WOW - 2007 - con't
This started as just a comment, but has obviously ended up as much more. Just give me an inch...
Anyway, thanks for all the comments. In regard to the appreciation that Jennifer commented in from the last post, I agree with her. The reason for my stating a higher rate is because this has been typically true in the Greater Orlando market.
Orlando is a destination city & has continually bucked the national trend. Generally, while the nation has normally seen a 6-8% appreciation level, we in Orlando have encountered a typically 10-13% rate.
To make this a little clearer, Orlando was definitely behind in regard to the national median housing price. For many reasons in the past several years this has quickly been adjusted. Unfortunately, we are still mostly a service-oriented area. I won't get on my soapbox here about this rise continually locking more and more people out of purchasing homes.
The powers that be are definitely making efforts to try to change our being a more service-oriented industry market. They are doing so by alluring some high-tech companies to the area and obviously this includes much higher wages.
Another reason for our quick gain, is that many people move to this area from more expensive areas & have been willing to pay more for real estate.
In regard to the median housing price, the Greater Orlando area's median is $250K. Even though this figure see-sawed through 2006, it is still higher than 2005. Maybe not by much, but still more. Many markets cannot say this, unfortunately.
According to FAR (Florida Association of Realtors), "In Sarasota-Bradenton, for example, the median price went to $277,900 from $340,700 during the year-over-year period ended in October." WOW!
Until next time - Marc It Sold!
Anyway, thanks for all the comments. In regard to the appreciation that Jennifer commented in from the last post, I agree with her. The reason for my stating a higher rate is because this has been typically true in the Greater Orlando market.
Orlando is a destination city & has continually bucked the national trend. Generally, while the nation has normally seen a 6-8% appreciation level, we in Orlando have encountered a typically 10-13% rate.
To make this a little clearer, Orlando was definitely behind in regard to the national median housing price. For many reasons in the past several years this has quickly been adjusted. Unfortunately, we are still mostly a service-oriented area. I won't get on my soapbox here about this rise continually locking more and more people out of purchasing homes.
The powers that be are definitely making efforts to try to change our being a more service-oriented industry market. They are doing so by alluring some high-tech companies to the area and obviously this includes much higher wages.
Another reason for our quick gain, is that many people move to this area from more expensive areas & have been willing to pay more for real estate.
In regard to the median housing price, the Greater Orlando area's median is $250K. Even though this figure see-sawed through 2006, it is still higher than 2005. Maybe not by much, but still more. Many markets cannot say this, unfortunately.
According to FAR (Florida Association of Realtors), "In Sarasota-Bradenton, for example, the median price went to $277,900 from $340,700 during the year-over-year period ended in October." WOW!
Until next time - Marc It Sold!
Thursday, January 4, 2007
WOW! – 2007 – What Will This Year Bring Us In Real Estate?
Most of my posts are geared towards the consumer, but the thoughts that are coming to my mind make this agent-oriented.
Well, let’s start out with the fact that the market has ‘corrected’ itself in many locales, but surely in the Orlando area. We are still in a very healthy market. Inventory is on a downward trend and will hopefully continue so. Rates are still very good in the low 6’s. I’ve even noted in my personal business that what is usually a very slow week (the week between Christmas & New Year’s) has turned into a quite busy one. Three buyers have contacted me and I’m in negotiations already, one being on a property that I’ve listed. My office tells me that they have noted that it’s picking up as well.
Many realtors® may disagree that this is a healthy and rebounding market, but I have to beg to differ. I know several realtors® that have had a better year in 2006 than previously. And no, these are not neophytes. Most are seasoned veterans. A lot of people forgot (or especially the newbies who didn’t know) how to work in what many of us consider a ‘normal’ market. Too much was being taken for granted as business was just there for the picking.
It’s a simple fact of back to basics. The business will come to you, but you have to farm & prospect. It’s not just going to fall in your lap like in 2005. I know that I’ve written that clients need to remember that the summer of 2005 is over, but many Realtors® need a wake-up call. The only way a realtor can last in this business is to be adaptable. You need to be able to adapt to a changing market. You need to be able to adapt the changing times. Your prospecting and farming need to be adapted to today, not yesterday’s style.
I’m seeing, as I sure a lot of you have, that there are still wholly overpriced listings being placed on the market. What I’m also seeing, & this really makes me laugh, is a listing with a price reduction. Yes, I know there are many out there that like to disguise this as a ‘price improvement.’ Please, we all know what this is and so does the seller & buyer, so why the sugar-coating. It just looks like you’re trying to disguise something & that doesn’t work in the long run in real estate. People aren’t stupid. They have so much more access to available information. Call it what it is. Believe it or not, you will look better in the consumer’s eyes.
Sorry for the digression, I was mentioning about listings with price reductions. But what I’ve seen while looking further at many of these (more than I would expect to see), is that the property had an increase in price from the original pricing. Do they not know how to properly price properties? I think this is so basic or at least it should be to be a realtor.
I think that we will see a consistent and steady change in 2007. We will probably see appreciation in the neighborhood of 7-13% depending on your market. This is quite normal as most of you should be well aware.
I think that buyers are finally getting over being wary of the marketplace, even though the media did a great job in scaring the crap out of some people. Interest rates are expected to be historically low. PMI is now fully deductible on your 2007 income taxes for households making less than $100K. Existing home sales are expected to increase, while new home sales are expected to slide.
Miami-based Lennar Corp., one of the nation's largest homebuilders, said it expects a fourth-quarter loss, its first decline in at least a decade, as it reevaluates how much its inventory is worth, etc.
Right now builders are giving away the farm, but they have to get rid of inventory. Otherwise, they are going to be paying a boatload of interest on those completed homes for sale. Many are reevaluating their positions. We’ve all read about this.
This all bodes well for the existing home sale market & us in general as realtors®.
I’m looking forward to a great 2007 as you should as well. You need to have a positive attitude in this business, otherwise you are only being self-defeating.
I love what I do & I love Real Estate!
Until Next Time – Marc It Sold!®
Well, let’s start out with the fact that the market has ‘corrected’ itself in many locales, but surely in the Orlando area. We are still in a very healthy market. Inventory is on a downward trend and will hopefully continue so. Rates are still very good in the low 6’s. I’ve even noted in my personal business that what is usually a very slow week (the week between Christmas & New Year’s) has turned into a quite busy one. Three buyers have contacted me and I’m in negotiations already, one being on a property that I’ve listed. My office tells me that they have noted that it’s picking up as well.
Many realtors® may disagree that this is a healthy and rebounding market, but I have to beg to differ. I know several realtors® that have had a better year in 2006 than previously. And no, these are not neophytes. Most are seasoned veterans. A lot of people forgot (or especially the newbies who didn’t know) how to work in what many of us consider a ‘normal’ market. Too much was being taken for granted as business was just there for the picking.
It’s a simple fact of back to basics. The business will come to you, but you have to farm & prospect. It’s not just going to fall in your lap like in 2005. I know that I’ve written that clients need to remember that the summer of 2005 is over, but many Realtors® need a wake-up call. The only way a realtor can last in this business is to be adaptable. You need to be able to adapt to a changing market. You need to be able to adapt the changing times. Your prospecting and farming need to be adapted to today, not yesterday’s style.
I’m seeing, as I sure a lot of you have, that there are still wholly overpriced listings being placed on the market. What I’m also seeing, & this really makes me laugh, is a listing with a price reduction. Yes, I know there are many out there that like to disguise this as a ‘price improvement.’ Please, we all know what this is and so does the seller & buyer, so why the sugar-coating. It just looks like you’re trying to disguise something & that doesn’t work in the long run in real estate. People aren’t stupid. They have so much more access to available information. Call it what it is. Believe it or not, you will look better in the consumer’s eyes.
Sorry for the digression, I was mentioning about listings with price reductions. But what I’ve seen while looking further at many of these (more than I would expect to see), is that the property had an increase in price from the original pricing. Do they not know how to properly price properties? I think this is so basic or at least it should be to be a realtor.
I think that we will see a consistent and steady change in 2007. We will probably see appreciation in the neighborhood of 7-13% depending on your market. This is quite normal as most of you should be well aware.
I think that buyers are finally getting over being wary of the marketplace, even though the media did a great job in scaring the crap out of some people. Interest rates are expected to be historically low. PMI is now fully deductible on your 2007 income taxes for households making less than $100K. Existing home sales are expected to increase, while new home sales are expected to slide.
Miami-based Lennar Corp., one of the nation's largest homebuilders, said it expects a fourth-quarter loss, its first decline in at least a decade, as it reevaluates how much its inventory is worth, etc.
Right now builders are giving away the farm, but they have to get rid of inventory. Otherwise, they are going to be paying a boatload of interest on those completed homes for sale. Many are reevaluating their positions. We’ve all read about this.
This all bodes well for the existing home sale market & us in general as realtors®.
I’m looking forward to a great 2007 as you should as well. You need to have a positive attitude in this business, otherwise you are only being self-defeating.
I love what I do & I love Real Estate!
Until Next Time – Marc It Sold!®
Thursday, December 28, 2006
Selling Your Home With Pets
Let me begin by saying that I am a pet lover having had many over my lifetime & enjoying those of friends & family. Unfortunately, there are many people out there that are not pet lovers or at least not of many breeds.
Most of us would not think that this is a problem. But, there are many people that will not go into a home with pets that are 'on the loose.' Additionally, there are many people that will spend less time in a home that has pets that are not of their liking. Too many of us this is surprising and may even sound bizarre, but when you put it into perspective it is quite understandable.
So, therefore, we need to take many things into consideration when selling a home with a pet(s). Now, again as I've said, I love most pets. I will usually play with the pet & keep him/her occupied while my clients are viewing the home. This usually works for the pet as well as the prospective buyers. A lot of times, you will find buyers that have no issue with the pets. And, yes, we all know about those loveable, cute pets that just pull at your heartstrings just by looking at you. They can almost sell the home themselves.
But here are some things to possibly remember & some tips for all of us.
1. If it smells... That in itself is probably enough to be said. Sorry, but I've had cats & very rarely did my litter box smell. Guess what? I don't want to smell yours. Neither does anyone else. Clean that litter box & keep it clean or put it out of the way. But those are not the only smells. Most odors come from dander. You need to deodorize your home often & keep your pet bathed and groomed.
2. Stains. Clean them, there are many good products on the market for 'pet stains.' Clean that carpet before listing your home, or if it is that bad, then consider replacing them. Sorry, but smells, stains, etc. are not going to get you top dollar for your home, nevermind, the length of time on the market needed to sell a home in that condition especially when there are so many other available homes to purchase.
3. Keep Pets from Showings. If it is at all possible, take the pet for a walk while your home is being shown. It will make it a much more pleasant experience for the prospective buyer. Loud barking dogs are not always a pleasing sound & may actually scare potential buyers. This only limits your potential pool of buyers. As your realtor, we are constantly trying to increase this pool for you.
4. First Impressions. The old adage is so very true - First Impressions are Lasting Impressions. This not only includes smells & carpet stains, but also possible gnawed moldings, scratches doors & door jambs, holes in the backyard, poop in the backyard, etc. You obviously get the picture & so will the potential buyer that viewed a home like this. I don't care how pretty the home may be otherwise, it is the total picture that has to be taken into consideration. And, yes, first impressions do last & will most likely have the prospective buyer out of your house quickly if care is not taken to these details.
5. It's all about perception! If someone enters a home & it smells & there are stains on the flooring & scratched door jambs, etc. They should also wonder what else this home holds for them. I'm sorry if this seems harsh, but if I enter a home and see this, I do have to wonder what else hasn't been taken care of & kept up. This is only being realistic & I'm not being mean.
We love our pets & there is no reason that they should hinder a sale. Nor do they have to be responsible for lowering a realistic price on a home. It is our responsibility & this can be taken care of without a great deal of inconvenience to all.
Best Wishes & until next time... Marc It Sold!
Most of us would not think that this is a problem. But, there are many people that will not go into a home with pets that are 'on the loose.' Additionally, there are many people that will spend less time in a home that has pets that are not of their liking. Too many of us this is surprising and may even sound bizarre, but when you put it into perspective it is quite understandable.
So, therefore, we need to take many things into consideration when selling a home with a pet(s). Now, again as I've said, I love most pets. I will usually play with the pet & keep him/her occupied while my clients are viewing the home. This usually works for the pet as well as the prospective buyers. A lot of times, you will find buyers that have no issue with the pets. And, yes, we all know about those loveable, cute pets that just pull at your heartstrings just by looking at you. They can almost sell the home themselves.
But here are some things to possibly remember & some tips for all of us.
1. If it smells... That in itself is probably enough to be said. Sorry, but I've had cats & very rarely did my litter box smell. Guess what? I don't want to smell yours. Neither does anyone else. Clean that litter box & keep it clean or put it out of the way. But those are not the only smells. Most odors come from dander. You need to deodorize your home often & keep your pet bathed and groomed.
2. Stains. Clean them, there are many good products on the market for 'pet stains.' Clean that carpet before listing your home, or if it is that bad, then consider replacing them. Sorry, but smells, stains, etc. are not going to get you top dollar for your home, nevermind, the length of time on the market needed to sell a home in that condition especially when there are so many other available homes to purchase.
3. Keep Pets from Showings. If it is at all possible, take the pet for a walk while your home is being shown. It will make it a much more pleasant experience for the prospective buyer. Loud barking dogs are not always a pleasing sound & may actually scare potential buyers. This only limits your potential pool of buyers. As your realtor, we are constantly trying to increase this pool for you.
4. First Impressions. The old adage is so very true - First Impressions are Lasting Impressions. This not only includes smells & carpet stains, but also possible gnawed moldings, scratches doors & door jambs, holes in the backyard, poop in the backyard, etc. You obviously get the picture & so will the potential buyer that viewed a home like this. I don't care how pretty the home may be otherwise, it is the total picture that has to be taken into consideration. And, yes, first impressions do last & will most likely have the prospective buyer out of your house quickly if care is not taken to these details.
5. It's all about perception! If someone enters a home & it smells & there are stains on the flooring & scratched door jambs, etc. They should also wonder what else this home holds for them. I'm sorry if this seems harsh, but if I enter a home and see this, I do have to wonder what else hasn't been taken care of & kept up. This is only being realistic & I'm not being mean.
We love our pets & there is no reason that they should hinder a sale. Nor do they have to be responsible for lowering a realistic price on a home. It is our responsibility & this can be taken care of without a great deal of inconvenience to all.
Best Wishes & until next time... Marc It Sold!
Sunday, December 17, 2006
A Little of This - A Little of That!
Housing costs have risen substantially within the last couple of years. Have wages increased as much? We know the answer there. Now, I'm not going to get on my soapbox. But, we continually each day lock more and more people out of the housing market. Condos are costing in the 100K's; a nice relatively reasonable 3/2 single-family home will run approximately the mid 200's. Enough of that, but it is something that we do have to keep in mind. We should never forget, because that only leads to possibly losing the lesson.
Real Estate has returned to what it was normally. The market is very healthy. We are very lucky in the Greater Orlando area, because we are a destination city. We are also the #2 city in the nation for Conventions, even knocking Chicago out of that position. But, there is a lot of competition out there. There are over 21,000 MLS listings available.
This is going to be a difficult time for For Sale By Owners, unless they are willing to wait, what I would think would be, quite a while. I've even noticed what seems to be more homes going into pre-foreclosure. The summer of '05 is no longer. I'm not saying this for doom & gloom. But this is reality.
In regard to pre-foreclosures, people should speak to their lenders before it is way too late. And by too late, I mean, when they are already starting the papers. It takes several months before a homeowner is served with a pre-foreclosure notice. If you are late, there are some lenders that will allow you to tack on those payments to the end of your loan period. Granted, this will definitely cost you, but what will losing your home cost you? There are also other ways, but you must speak with your lender. You have to understand that the lender does not really wish to own your property. They are not making money on it. They make money from the payments that you send in each month.
Anyway, enough for now. Call me & I'll be more than happy to discuss this and any other topics with you.
Until next time....Marc It Sold!
Real Estate has returned to what it was normally. The market is very healthy. We are very lucky in the Greater Orlando area, because we are a destination city. We are also the #2 city in the nation for Conventions, even knocking Chicago out of that position. But, there is a lot of competition out there. There are over 21,000 MLS listings available.
This is going to be a difficult time for For Sale By Owners, unless they are willing to wait, what I would think would be, quite a while. I've even noticed what seems to be more homes going into pre-foreclosure. The summer of '05 is no longer. I'm not saying this for doom & gloom. But this is reality.
In regard to pre-foreclosures, people should speak to their lenders before it is way too late. And by too late, I mean, when they are already starting the papers. It takes several months before a homeowner is served with a pre-foreclosure notice. If you are late, there are some lenders that will allow you to tack on those payments to the end of your loan period. Granted, this will definitely cost you, but what will losing your home cost you? There are also other ways, but you must speak with your lender. You have to understand that the lender does not really wish to own your property. They are not making money on it. They make money from the payments that you send in each month.
Anyway, enough for now. Call me & I'll be more than happy to discuss this and any other topics with you.
Until next time....Marc It Sold!
Subscribe to:
Posts (Atom)
Posts
