Robert Lenzer, writes about;
John Paulson, Sept. 27th, 2010;
It could be time to sell your low-yielding bonds and replace them with higher-yielding common stocks.
Multibillionaire hedge fund operator John Paulson, the investment genius who made a killing going short subprime mortgages a few years ago, told a standing room only crowd at New York’s University Club that double-digit inflation is about to rear its ugly head by 2012, killing the bond market, and restoring strength to equities and gold. More...
Wednesday, March 16, 2011
Tuesday, November 16, 2010
The Truth about Open Houses
There may be nothing so sacrosanct in Buckhead real estate as the open house. But, upon closer inspection, do open houses fall within the boundaries of productive marketing or seller appeasement?
Many agents, especially those with more listings than they can effectively manage, often allow inexperienced agents to hold their listings open. This is usually done to make the seller think they are working hard to sell their home. These newly-licensed agents know little about your home or neighborhood, but often know less about qualifying potential buyers. If a couple of directional signs, some balloons and a plate of cookies was all it took to sell a home, sellers wouldn't need real estate brokers in the first place. The fact is, less than 1% of homes ever sell as a result of an open house.
The truth is that open houses have an extremely limited window where they are actually beneficial to the seller. Here's why; when your home is new to the market, potential buyers - and agents - want to see it. If it is priced correctly, all repairs made and staged appropriately, an open house can be a great opportunity. But that opportunity only lasts for a few weeks. After that, most agents and buyers are familiar with the house.
After the first few weeks, if an agent agrees to hold an open house, it's for one thing; to meet potential buyers. The agent is using your home as a lure in hopes of catching buyers who, oddly enough, most likely will not purchase your home.
Conrad Lyles Realtors specialize in Buckhead real estate
Many agents, especially those with more listings than they can effectively manage, often allow inexperienced agents to hold their listings open. This is usually done to make the seller think they are working hard to sell their home. These newly-licensed agents know little about your home or neighborhood, but often know less about qualifying potential buyers. If a couple of directional signs, some balloons and a plate of cookies was all it took to sell a home, sellers wouldn't need real estate brokers in the first place. The fact is, less than 1% of homes ever sell as a result of an open house.
The truth is that open houses have an extremely limited window where they are actually beneficial to the seller. Here's why; when your home is new to the market, potential buyers - and agents - want to see it. If it is priced correctly, all repairs made and staged appropriately, an open house can be a great opportunity. But that opportunity only lasts for a few weeks. After that, most agents and buyers are familiar with the house.
After the first few weeks, if an agent agrees to hold an open house, it's for one thing; to meet potential buyers. The agent is using your home as a lure in hopes of catching buyers who, oddly enough, most likely will not purchase your home.
Conrad Lyles Realtors specialize in Buckhead real estate
Tuesday, October 26, 2010
Existing-Home Sales Show Another Strong Gain in September
RISMEDIA, October 26, 2010—Existing-home sales rose again in September 2010, affirming that a sales recovery has begun, according to the National Association of Realtors. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0% to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August more...
Friday, October 15, 2010
Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers
RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.
While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:
For Sellers:
DO’SBe flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON’TSDon’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?
Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.
For Buyers:
DO’SGet a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.
List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.
Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.
DON’TSDon’t be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.
Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.
While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:
For Sellers:
DO’SBe flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON’TSDon’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?
Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.
For Buyers:
DO’SGet a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.
List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.
Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.
DON’TSDon’t be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.
Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.
Wednesday, September 29, 2010
Housing Tax Incentives Benefit Younger Households Most
RISMEDIA, September 29, 2010—New research from the National Association of Home Builders (NAHB) reveals that the benefits of housing-related tax deductions, such as the mortgage interest deduction, generally decline in value as individuals age. Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to report for the first time how various tax deductions are used by different age groups. The analysis demonstrates that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families. more...
Tuesday, September 28, 2010
How Large is the Shadow Inventory of Homes?
By Nick Timiraos
A new report estimates that the “shadow inventory” of potential foreclosures and other distressed sales will peak this year at 4.7 million units, a roughly 10 month supply of homes.
But that supply could shrink to as low as 4 million units or swell to as high as 5.6 million homes depending on how many delinquent loans actually move through to foreclosure, according to a report released Monday by John Burns Real Estate Consulting of Irvine, Calif.
The report also estimates that the distressed share of home sales will rise to around 40% of all home re-sales through 2012. And that the shadow inventory of distressed loans will stay at elevated levels through 2016. more...
A new report estimates that the “shadow inventory” of potential foreclosures and other distressed sales will peak this year at 4.7 million units, a roughly 10 month supply of homes.
But that supply could shrink to as low as 4 million units or swell to as high as 5.6 million homes depending on how many delinquent loans actually move through to foreclosure, according to a report released Monday by John Burns Real Estate Consulting of Irvine, Calif.
The report also estimates that the distressed share of home sales will rise to around 40% of all home re-sales through 2012. And that the shadow inventory of distressed loans will stay at elevated levels through 2016. more...
Friday, September 17, 2010
Your Listing Expired and You've got some Decisions to make
by, Tish Loyd, Wrightsville Beach, NC
Mr. & Mrs. Seller; Your listing expired and you've got some decisions to make.
1. Do you re-list with the same agent?
2. Do you lower the price?
3. Do you just hold off and see if the market improves?
4. Do you meet with any of the Agents who are calling and sending cards and letters telling you that they can sell your house?
Well, maybe, maybe, maybe and maybe.
1. If you have an Agent you like and whom you feel is doing everything in their power to sell your house, then stay with them. Of course, if they were doing everything they should, your listing should not have expired. Unless you both chose to let it.
2. If you had no offers, or low offers, then you most likely need to lower the price. Homes ARE SELLING -- if they are priced right and show well. You did make those changes your Agent suggested, right?
3. If you can wait, then this is not a bad option. This is a tough market, but it is improving. A month or so off the market could very well be just what your house needs to sell. Of course, interest rates are extraordinary right now -- I'd hate to see you miss out on a buyer that is taking advantage of the historically low interest rates.
4. If you were unhappy with the Agent you were previously listed with, then by all means, meet with other Agents. See what they can offer which is different than what you were getting. Sometimes a new marketing plan, along with a price adjustment is just what the doctor ordered. Beware of any Agent who tells you they have a buyer for your house, if you'll just list with them. If they really had a buyer, they would have already brought you an offer. Trust me, if I have a qualified buyer, I am getting them under contract -- not waiting to get a listing I can sell myself.
This is a tough market. Homes are taking longer to sell. But they ARE SELLING , many markets are improving and interest rates are as low as we're likely to see in our lifetimes. Your house CAN sell. Find a REALTOR® you trust, take their advice about pricing and staging, keep your house in showing shape and make it as accessible for showings as possible. That's what we in the Industry call, A WINNING COMBINATION!
Mr. & Mrs. Seller; Your listing expired and you've got some decisions to make.
1. Do you re-list with the same agent?
2. Do you lower the price?
3. Do you just hold off and see if the market improves?
4. Do you meet with any of the Agents who are calling and sending cards and letters telling you that they can sell your house?
Well, maybe, maybe, maybe and maybe.
1. If you have an Agent you like and whom you feel is doing everything in their power to sell your house, then stay with them. Of course, if they were doing everything they should, your listing should not have expired. Unless you both chose to let it.
2. If you had no offers, or low offers, then you most likely need to lower the price. Homes ARE SELLING -- if they are priced right and show well. You did make those changes your Agent suggested, right?
3. If you can wait, then this is not a bad option. This is a tough market, but it is improving. A month or so off the market could very well be just what your house needs to sell. Of course, interest rates are extraordinary right now -- I'd hate to see you miss out on a buyer that is taking advantage of the historically low interest rates.
4. If you were unhappy with the Agent you were previously listed with, then by all means, meet with other Agents. See what they can offer which is different than what you were getting. Sometimes a new marketing plan, along with a price adjustment is just what the doctor ordered. Beware of any Agent who tells you they have a buyer for your house, if you'll just list with them. If they really had a buyer, they would have already brought you an offer. Trust me, if I have a qualified buyer, I am getting them under contract -- not waiting to get a listing I can sell myself.
This is a tough market. Homes are taking longer to sell. But they ARE SELLING , many markets are improving and interest rates are as low as we're likely to see in our lifetimes. Your house CAN sell. Find a REALTOR® you trust, take their advice about pricing and staging, keep your house in showing shape and make it as accessible for showings as possible. That's what we in the Industry call, A WINNING COMBINATION!
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