Lakeriver Line

“If you don’t own a home buy one,”

2011-03-16T14:26:00.000-07:00

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...

The Truth about Open Houses

2010-11-16T07:33:00.000-08:00

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

Existing-Home Sales Show Another Strong Gain in September

2010-10-26T20:37:00.000-07:00

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...

Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

2010-10-15T12:34:00.000-07:00

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.

Housing Tax Incentives Benefit Younger Households Most

2010-09-29T14:00:00.000-07:00

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...

How Large is the Shadow Inventory of Homes?

2010-09-28T14:37:00.000-07:00

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...

Your Listing Expired and You've got some Decisions to make

2010-09-17T08:35:00.000-07:00

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!

Home Buyer Tax Credit Expires - Opportunity Doesn't

2010-07-28T16:34:00.000-07:00

RISMEDIA, July 27, 2010—The Home Buyer Tax Credit proved to be a valuable stimulus to the troubled U.S. housing industry. The only catch: those who qualified had to be under contract by April 30, 2010, and close by June 30 (editor’s note: at press time, the federal government had extended this closing deadline to September). more...http://rismedia.com/2010-07-26/home-buyer-tax-credit-expires-opportunity-doesnt/

While Your Home Maybe Perfect for...

2010-06-28T11:55:00.000-07:00

by Leesa Finley ,
While your home may be prefect for a large family, in a quiet, family neighborhood and right across the street from the Catholic church I just can't say that. Your home may be right in the middle of the financial district, near public transportation and have a free membership to the gym making it ideal for a working professional but I just can't say that. You see, there is the Federal Fair Housing Act that I must adhere to that strictly prohibits discriminatory preference against:
Race or Color
National Origin
Religion
Sex
Familial Status
Handicap/Disability
To advertise your home in a family friendly neighborhood would be discriminatory. Why? It would discourage those without children from looking at your home based on familial status. While your home may be right across the street from the largest Catholic church in town it would be discriminatory based on Religion.As a Realtor® it is my job to highlight your home and advertise it in the best possible light. If you hire me to be your Realtor® then you must be comfortable with me and trust that I know how to advertise your home without violating the Federal Fair Housing Act. If you DON'T hire me, or any Realtor® for that matter, to assist you in selling your home you must know that you are subject to the Federal Fair Housing Act as well. Yes, even as a private seller! The next time you see the ad that I run for your home please don't be upset with me for not mentioning that your home is family friendly or right next door to the Synagogue. Besides, your home has many more beneficial attributes for me to concentrate on!

Builders Put Brakes On New Homes as Tax Credit Expires

2010-06-18T13:40:00.000-07:00

By Alan J. Heavens
RISMEDIA, June 18, 2010—(MCT)—Residential-construction starts fell in May 2010 to their lowest level in a year, as an anticipated slowdown in sales after the expiration of the home buyers' tax credits took hold of the market. The Commerce Department reported recently that overall housing starts fell 10% from April, while building permits were down 5.9%. The biggest hit in starts came in the single-family sector—down 17.2% from April. continued...http://rismedia.com/2010-06-17/builders-put-brakes-on-new-homes-as-tax-credit-expires/

5 To Dos Before Marketing Your Home

2010-05-21T15:03:00.000-07:00

1. Flower up curb appeal. Do the lawn and bushes look neatly manicured? Could it use more? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks? Does it smell like blooms or manure as you approach the front door? Are the windows clean? Is the paint peeling? Is the grass healthy? Weeds are green, too, you know, so by healthy I not only mean green, but I also mean no weeds. Does your front door have a fresh coat of stain or paint? Curb appeal can be a chore or a fun family event. Either way, it has to happen before the sign goes in the yard! And, by the way, continue it 'til the closing. It's just the right thing to do.
2. Have a pre-sale home inspection. Be proactive. An inspector will give you a good indication of what will stand out to potential buyers. Plus, it is highly likely the buyer will hire one themselves and why not eliminate everything he would otherwise report? You'll be able to make repairs before buyers start charging you 10 times the price in the low offers they would bring unmaintained or before their inspector gets there and the repair requests start flying in like rockets. The best way to avoid insulting low offers or nagging repair requests is look like a million bucks to begin with -- get things done before-hand.3. Get replacement estimates. Do you have big-ticket items that are worn out or will need to be replaced soon, such your roof, old foggy windows or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home and will be handy when negotiations begin. Don't play poker. They will see your foggy window and raise you ten.
4. Find warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Organize and clean. De-clutter! Items like kitchen tools, out-of-season clothes, toys, and exercise equipment need to GO. Store items off-site or in boxes neatly arranged in storage areas. Clean windows, floors, fixtures, walls and baseboards to make the interior shine.
Sellers, the beauty of a tough economy is a lot of homes are neglected, abandoned, abused or otherwise show like poo. This is your chance to shine! Plus, none of the recommendations above are bank busters.

by Kristen Ueckert
Ueckert Realty

Happy Mother's Day Weekend

2010-05-07T14:29:00.000-07:00

A Mother’s love determines how we love ourselves and others.

5 Popular Kitchen and Bath Upgrades

2010-03-15T17:25:00.000-07:00

RISMEDIA, March 15, 2010—(MCT)—Instead of playing the trade-up game, more homeowners are staying in their homes, upgrading kitchens and baths and building additions to accommodate their needs instead of moving into a bigger house, but there are also some early signs of an improving real estate market, according to a new survey of architecture firms.
Continued... http://rismedia.com/2010-03-14/5-popular-kitchen-and-bathroom-upgrades/

A Golden Opportunity: 203k Program Helps First-Time Buyers Turn Dreams into Reality

2010-02-22T13:14:00.000-08:00

By Stephanie Andre
RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close. For the good news....http://rismedia.com/2010-02-21/a-golden-opportunity-203k-program-helps-first-time-buyers-turn-dreams-into-reality/

Mature-Market Home Buyers Look beyond Buildings, Desire Services

2010-01-27T13:21:00.000-08:00

RISMEDIA, January 27, 2010—A survey of consumers and builders, conducted in 2009 by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute, has yielded a new round of data revealing the housing preferences of the 55+ consumer. This analysis of data–the third in a series–compared the preferences of the 55-to-64 year old age group to those of the 65+ group.

The rest of the Story; http://rismedia.com/2010-01-26/mature-market-home-buyers-look-beyond-buildings-desire-services/

10 Cities Where It's Smarter to Buy

2010-01-22T14:47:00.000-08:00

Daily Real Estate News January 22, 2010

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 Cities the Magazine chose as the best places to buy right now; http://www.realtor.org/RMODaily.nsf/pages/News2010012201?OpenDocument

The Expanded Home Buyer Tax Credit Could Chase Away the Winter Blues

2010-01-07T13:41:00.000-08:00

By Ken Trepeta, Director, Real Estate Services
RISMEDIA, January 7, 2010

As we begin 2010, both real estate professionals and home buyers have something to look forward to and more importantly, take advantage of—the extended and expanded home buyer tax credit.
Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit.
To help everyone better understand the extended and expanded home buyer tax credit, here are some highlights of the changes.Read more: http://rismedia.com/2010-01-06/the-expanded-home-buyer-tax-credit-could-chase-away-the-winter-blues/#ixzz0bxuHPGWt

Housing and Economy Headed for Sustainable Recovery; First-Time Homebuyers Lead the Way

2009-11-18T13:45:00.000-08:00

RISMEDIA, November 18, 2009—Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”Read more: http://rismedia.com/2009-11-17/housing-and-economy-headed-for-sustainable-recovery-first-time-homebuyers-lead-the-way/#ixzz0XFZ1wqQg

Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum

2009-11-01T14:47:00.000-08:00

RISMEDIA, October 31, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September, continued...http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/#ixzz0VQQQc6bc

Top Ten Safest Cities

2009-10-28T14:37:00.000-07:00

By Marty Cox
Oct 27, 2009

Minneapolis tops the safest cities from Forbes in 2009. The other cities that were in the Forbes' safest city top five were Milwaukee, Portland, Boston and Seattle. The magazine has pictures and video here adding "These metros have the lowest rates of violent crime, workplace deaths, fatal crashes and natural disasters."According to the release, Forbes.com based its rankings on a study of the nation’s top 40 metropolitan areas’ 2008 workplace death rates from the Bureau of Labor Statistics; 2008 traffic death rates from the National Highway Traffic Safety Administration; and natural disaster risk, using rankings from green living site SustainLane.com.
For the list...... http://www.nationalledger.com/ledgerdc/article_272628711.shtml

Vote on homebuyer tax credit could come soon...

2009-10-27T13:56:00.000-07:00

Dueling proposals will be debated in Senate over $8,000 per buyer subsidy
Associated Press
updated 3:33 p.m. PT, Mon., Oct . 26, 2009

WASHINGTON - Top Democrats in the Senate are pressing a plan that would extend a popular tax credit for first-time homebuyers but gradually phase it out over the course of next year.
The proposal, by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont., would extend the $8,000 tax credit — which expires Nov. 30 — through March 31. Its value would drop by $2,000 for each of the subsequent three quarters of 2010.
The plan, which could face a vote in the Senate this week, appears aimed at countering a far more generous $17 billion bipartisan plan that would extend the $8,000 credit through June 30, 2010, boost the income cap for eligibility and open the credit to all buyers, rather than first-timers. For more...http://www.msnbc.msn.com/id/33484381/ns/business-real_estate/

Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum

2009-10-26T14:32:00.000-07:00

RISMEDIA, October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57
more to follow....http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/

Existing-Home Sales Ease Following 4 Monthly Gains

2009-09-28T13:47:00.000-07:00

RISMEDIA, September 28, 2009—Existing-home sales in August 2009 gave back some of their strong gain in July but remain above year-ago levels, according to the National Association of Realtors®. Existing-home sales- including single-family, townhomes, condominiums and co-ops- declined 2.7% to a seasonally adjusted annual rate of 5.10 million units in August from a pace of 5.24 million in July, but remain 3.4% above, continued... http://rismedia.com/2009-09-27/existing-home-sales-ease-following-4-monthly-gains/

Bernanke: Recession is Over, but Tough Times Will Linger

2009-09-16T18:16:00.000-07:00

RISMEDIA, September 16, 2009—(MCT)—The deep recession that's gripped the U.S. economy by the throat since December 2007 is "very likely over at this point," Federal Reserve Chairman Ben Bernanke recently said. However, Bernanke painted a picture of an underperforming economy well into next year as he fielded questions after a speech at the Brookings Institution, a center-left research center in the nation's capital. Continued ...http://rismedia.com/2009-09-15/bernanke-recession-is-over-but-tough-times-will-linger/

New Guidelines Needed for Appraising Distressed Properties

2009-06-29T11:25:00.000-07:00

RISMEDIA, June 25, 2009-Using foreclosed and distressed sales as comparables with appraisals on single-family homes without adequately reflecting the differences in the condition of the respective properties is needlessly driving down home values, according to the National Association of Home Builders (NAHB).
“Any home buyer can recognize the difference between a well-kept home and a distressed property that is damaged or not properly maintained. So it only makes sense that an appraiser should be required to consider the overall condition of a property and the specific factors related to a foreclosure or distressed property sale when selecting and adjusting the value of comparables,” said NAHB President Joe Robson, a home builder from Tulsa, Okla.
According to the NAHB, appraisers are often only required to conduct exterior inspections of properties that are being used as comparables because they are normally unable to enter these homes and examine their interiors. Too often, properties that have been subject to foreclosure or distressed sales have issues related to deferred maintenance or internal damage that an external inspection simply cannot reveal.
“While most appraisers do a fine job, there needs to be proper regulatory guidelines for those who use distressed or foreclosed properties as comparables when determining home values,” said Robson. “It is essential that appraisers have the proper experience and guidance to accurately assess values in distressed markets.”
In neighborhoods where comps include a large number of short sales or foreclosures, appraisers should have the option of expanding the geographic area or extending the time frame for eligible sales to get a more representative basket of the value of homes sold in the area, Robson added.
Currently, improper or insufficient adjustments to the comparable values of foreclosed and/or distressed homes often results in the undervaluation of new sales transactions.
“This practice must be corrected because it contributes to the continuing downward spiral in home prices, forestalling the economic recovery,” said Robson.
For more information, visit www.nahb.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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Have We Reached Bottom? 10 Factors to Consider

2009-06-26T15:10:00.000-07:00

RISMEDIA, June 24, 2009-Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:
1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.
2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.
3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.
4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.
5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.
6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.
7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.
8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.
9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.
10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.

Which States Will be Early Risers?

2009-06-03T23:56:00.000-07:00

Bill Dedman, Investigative reporter, NEW YORK—
If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington.
The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year. Four of those states benefit from strong high-tech industries, and the fifth, Texas, has a strong base of energy industries.
A second wave of jobs growth, in the first quarter of 2010, is predicted in seven states: Alabama, Georgia, Nebraska, New Mexico, North Carolina, North Dakota and South Dakota. Read on at... http://www.msnbc.msn.com/id/30991972/

Buyer Interest in Foreclosures Spikes, Says Survey

2009-05-21T16:01:00.000-07:00

RISMEDIA, May 21, 2009-According to the results of a new survey from Harris Interactive, there is a notable gain in consumers’ willingness to buy foreclosed properties, with 55% of U.S. adults indicating that they are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 47% of U.S. adults who indicated the same in November 2008. The tracking survey was conducted on behalf of national real estate search engine, Trulia.com, and RealtyTrac, an online marketplace for foreclosure properties. For more of the story...http://rismedia.com/2009-05-20/buyer-interest-in-foreclosures-spikes-says-survey/

Distressed Properties and First-Time Home Buyers - The Recipe for Real Estate Recovery?

2009-05-19T10:31:00.000-07:00

RISMEDIA, May 19, 2009-(MCT)-Value-conscious, first-time buyers have become key to the housing market’s recovery, and they are snapping up priced-right foreclosures despite the warts-and-all, sold-as-is condition of the properties. Half of the sales made in the year’s first quarter were to first-time buyers and almost half of all these sales were distressed properties, the National Association of Realtors reported. Distressed properties include foreclosures and short sales, which are private transactions in which a homeowner sells the property for less than the amount owed on a mortgage. For the rest of the story... http://rismedia.com/2009-05-18/distressed-properties-and-first-time-home-buyers-the-recipe-for-real-estate-recovery/

Buying Foreclosed Homes: Deal or No Deal?

2009-04-30T18:29:00.000-07:00

RISMEDIA, April 27, 2009-
HouseMaster®, a home inspection franchisor, reports there are abundant opportunities for qualified homebuyers in the current real estate market - triggered by a 28% rise in foreclosure activity from last year. While President Obama’s $75 billion loan modification and refinancing Homeowner Affordability and Stability Plan will help as many as 4 million struggling homeowners, it won’t save everyone from foreclosure resulting in prime deals for qualified homebuyers. See more...http://rismedia.com/2009-04-26/buying-foreclosed-homes-deal-or-no-deal/

Check out these 10 common pitfalls of first-time

2009-04-23T15:03:00.000-07:00

By SmartMoney
The declining home values that are plaguing homeowners are just one of the factors creating an opportunity for prospective homebuyers.Standard & Poor's latest Case-Shiller index, which tracks home prices across 20 major U.S. cities, reported that values dropped 19% in January from a year earlier.Those depressed values, combined with near-record-low mortgage rates and government incentives (an $8,000 first-time homebuyers' tax credit included in the stimulus bill), are luring more first-time home buyers into the market. Indeed, a recent Century 21 Real Estate survey found that more than three-quarters (78%) of potential first-time homebuyers say now is a good time to buy.If you agree, be aware that buying a home comes with plenty of potential missteps. Here are 10 all-too-common mistakes first-timers make. See the list...
http://realestate.msn.com/article.aspx?cp-documentid=18962600
By Lisa Scherzer, SmartMoney

To Appreciate the Appreciation in Real Estate, Long-Term

2009-03-24T16:59:00.000-07:00

Home-selling Strategies by Chris Kaucnik

RISMEDIA, March 2, 2009-What are the general principles we all learned about long-term investing? Research and plan. Buy low, sell high. Keep some liquid assets for short-term emergencies. These basic tenets still apply, at least in real estate.

Your buying clients need to understand that what happened in real estate was a bubble, not something permanent. It was created by removing all barriers to owning real estate. Getting a mortgage became too easy. Interest rates were at historical lows. Appreciation skyrocketed in many markets. The rush to riches through real estate came to an end because bubbles eventually burst. Now we are left with a buyer’s market, instead of a seller’s.

What can you do to show potential buyers that this is the time to buy real estate? Many buyers just don’t understand the market because there are a few more unknowns than they are used to considering.

They may be afraid we haven’t hit the true bottom yet, or even that real estate may no longer be a great investment. They may think they can’t get a mortgage. But whatever the reason, buyers need to know that, like the stock market, no one can predict the exact bottom, and buying now is advantageous due to very low pricing and interest rates, plus many sellers’ incentives.

They need your expertise to help them recognize the indicators that show the time is right to buy in your local market. Maybe it’s a reduction in foreclosures or inventory, or an influx of foreign investors, but regardless, your assessment of the market is paramount to their decision. You can prove to them real estate is a great investment by the historical data below:

National data:

1970-1979 = 142% appreciation
1980-1989 = 52% appreciation
1990-1999 = 45% appreciation
2000-2008 = 42% appreciation

Source: The National Association of Realtors

Like every investment, there are ups and downs. Even if they buy now and it isn’t the exact bottom, the resulting appreciation in years to come will clearly compensate. Now is the time to gain by buying during the low period. Patience and planning are true virtues in real estate. Where else can clients earn these percentages on money that is primarily not theirs and get a tax deduction? What are their alternatives-to miss a great opportunity or buy high?

Chris Kaucnik is marketing director for Home Warranty of America, Inc.

7 Cities Primed for a Rebound - Home Prices: Now for the Good News

2009-02-06T15:22:00.000-08:00

A look at sever metropolitan areas where home prices are on their way back up. From smartmoney.com.
by Brad Reagan and Elizabeth O'Brien
When the headlines about the housing market are apocalyptic, the last thing a homeowner wants to do is sell. But a funny thing happened to Jeff and Jennifer Boyd when they put their three-bedroom house in Philadelphia's Graduate Hospital district on the market this summer: They turned a profit. Just 45 days after the listing went up, a buyer snapped up the property for $555,000 -- $29,000 more than the Boyds paid in 2006. "We were pretty hesitant, knowing what the market is like," says Jeff. "But a few weeks later, it was gone."
The rest of the story... http://www.househuntnews.com/marketing/consumer/feb09/03.htm

What were we Thinking?

2009-02-05T14:48:00.000-08:00

Read this slowly. Let it sink in. Absolutely The Funniest Joke Ever!
ON US!!

Does anybody out there have any memory of the reason given for the
establishment of the DEPARTMENT OF ENERGY during the Carter
Administration? Anybody? Anything? No? Didn't think so.

Bottom line . . we've spent several hundred billion dollars in support
of an agency the reason for which not one person who reads this can
remember. Ready?

It was very simple, and at the time everybody thought it very
appropriate.

The Department of Energy was instituted 8-04-1977 TO LESSEN OUR
DEPENDENCE ON FOREIGN OIL. HEY, PRETTY EFFICIENT, HUH? AND NOW IT'S
2008, 31 YEARS LATER, AND THE BUDGET FOR THIS NECESSARY DEPARTMENT IS
AT $24..2 BILLION A YEAR, THEY HAVE 16,000 FEDERAL EMPLOYEES, AND
APPROXIMATELY 100,000 CONTRACT EMPLOYEES AND LOOK AT THE JOB THEY HAVE
DONE! THIS IS WHERE YOU SLAP YOUR FOREHEAD AND SAY 'WHAT WAS I
THINKING?'

Ah yes, good ole bureaucracy. And now we are going to turn the Banking
system over to them? And the automobile industry?

God Help us.

We’re All in This Together - What’s Good for Homeowners Is Good for America

2009-01-26T15:45:00.000-08:00

Commentary by Ralph R. Roberts
RISMEDIA, January 26, 2009-Over the past year or so, the American homeowner has taken it on the chin-a one-two-three punch that has knocked many out of their homes and threatens to do the same to millions more. First, the housing bubble burst, stripping billions in equity. Tight credit landed the next blow, preventing homeowners from refinancing their way out of trouble. Finally, a severe economic downturn has led to record job losses, making it difficult or impossible for many families to keep their homes even if they otherwise would be able to negotiate a loan modification with their lender....for more http://rismedia.com/wp/2009-01-25/were-all-in-this-together-whats-good-for-homeowners-is-good-for-america/

Homeowners urged-Sell Short, Refinance, But try Not to Lose Your Home

2009-01-16T11:31:00.000-08:00

RISMEDIA, January 16, 2009—(MCT)—Every day, more people slip into the foreclosure whirlpool and spiral downward toward the day they may have to leave their home. What should you do if you are on the verge of getting a foreclosure notice? Continued

Why home values may take decades to recover

2008-12-15T15:07:00.000-08:00

By Dennis CauchonUSA TODAY
More room to fall?
For every $100 spent on a house in 1950 the investment rose slightly through 2002, then soared to about $192 in 2006, adjusting for inflation. Then credit dried up, and the bust began.
Rick Wallick moved into a new, three-bedroom $200,000 home in Maricopa, Ariz., in October 2005. Today, the home is worth $80,000.
The disabled software engineer stopped making mortgage payments this month. His $70,000 down payment is now worthless. His dream house will be foreclosed on next year.
"We're so far underwater it's not funny," says Wallick, 57, who had to return to his original home in Oregon to care for a sick family member and tend to his own medical problems. Wallick, one of the hardest-hit victims in one of the states hit hardest by the housing crisis, lost 60% of his home's value in three years.
For more... http://www.usatoday.com/printedition/news/20081212/1ahouseprices12_cv.art.htm?POE=click-refer

Chicken Little Doesn’t Sell Houses

2008-12-09T11:07:00.000-08:00

RISMEDIA, Dec. 9, 2008-”One day, Chicken Little was walking in the woods when-KERPLUNK-an acorn fell on her head. ‘Oh my goodness!’ said Chicken Little. ‘The sky is falling!” Thus begins a timeless tale that seems more relevant each time I read another “authoritative” article positing that the recovery in real estate is years away.
I want to scream: “Your 2009 will be what YOU make it. The sky is not falling and you can be sure that many people will succeed in 2009, just as many continue to succeed, even now.”
We should refuse to buy in to “informed opinion” that predicts three more years of economic morass. It’s time we take responsibility for our own success and make things happen for ourselves.
Once we get through January, I believe we will see the beginnings of recovery. Credit will loosen, people will begin to regain some confidence that Washington has an idea of what they are doing, and opportunities to succeed will abound. Oh, it never will be 2005 again, but who really wants that, anyway? Agents who fail to take strong action to succeed despite conditions will be dropping like acorns in a stiff wind. for more...http://rismedia.com/wp/2008-12-08/chicken-little-doesnt-sell-houses/ I'm a Real Estate Professional that refuses to bear the burden of Doom and Gloom and forge ahead to make it better than before.

Can the Government Keep Spending? Most Economists Say Yes

2008-11-28T17:38:00.000-08:00

Not my opinion, but the talking heads say....
RISMEDIA, Nov. 28, 2008-(MCT)-Since the U.S. economy went into freefall in September, the federal government has announced hundreds of billions of dollars in bailouts and economic stimulus packages in attempts to shore up banks and reignite the economy.
The latest astronomical figure is an $800 billion, in a package announced Tuesday by the Federal Reserve and the Treasury Department. Many are wondering, however, how long this spending can go on.
Here are a few answers: http://rismedia.com/wp/2008-11-27/can-the-government-keep-spending-most-economists-say-yes/

NEWS ALERT - Paulson Unveils $800 Billion Plan to Ease Credit Crunch

2008-11-25T14:57:00.000-08:00

“A very strong statement of support for the housing market”
By David Lightman
RISMEDIA, Nov. 25, 2008-(MCT)-Treasury Secretary Henry Paulson, warning that “millions of Americans cannot find affordable financing for basic credit needs,” announced a major expansion of the federal bailout on today as much as $800 billion to make mortgages and consumer credit more available and affordable.
The government will buy up to $600 billion in mortgage-backed assets, and, in a separate action, lend up to $200 billion to investors who have bought securities backed by consumer loans such as credit cards, auto and student loans, in a bid to free up consumer credit. for more... http://rismedia.com/wp/2008-11-25/news-alert-paulson-unveils-800-billion-plan-to-ease-credit-crunch/

The First Time Buyer $7,500 IRS Tax Credit: Why Isn’t There More Excitement?

2008-11-18T10:41:00.000-08:00

By David Fialk
RISMEDIA, Nov. 10, 2008-What is a potential home buyer to do? There is widespread negative publicity about the future of real estate values. There is negative publicity regarding the difficulty in obtaining mortgage financing, the problems with sub prime mortgages, home foreclosures and the collapse of financial institutions. They are experiencing an astronomical drop in the value of their stock portfolios. They have concern with job security. Can you blame buyers for slowing down and not rushing into a long term financial commitment, such as purchasing a home? for more.... http://rismedia.com/wp/2008-11-09/the-first-time-buyer-7500-irs-tax-credit-why-isnt-there-more-excitement/

Good News for Real Estate? Largest Monthly Home Sale Percentage Increase in 5 Years Reported

2008-10-27T08:46:00.000-07:00

RISMEDIA, Oct. 27, 2008-Due to falling real estate prices and rising foreclosures on the West Coast, sales of existing homes rose to its highest level in 13 months and highest percentage increase in five years, according to a report issued today by the National Association of Realtors (NAR). The increase resulted from buyers responding to improved housing affordability conditions, the organization stated.
Existing-home sales-including single-family, townhomes, condominiums and co-ops-rose 5.5% to a seasonally adjusted annual rate of 5.18 million units in September from a level of 4.91 million in August, and are 1.4% higher than the 5.11 million-unit pace in September 2007. See more...http://rismedia.com/wp/2008-10-24/breaking-news-good-news-for-real-estate-largest-monthly-home-sale-percentage-increase-in-5-years-reported/

Pending Home Sales Up Strongly

2008-10-15T14:52:00.000-07:00

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the latest report. The Pending Home Sales Index jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4. Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. “What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C. region,” he said. "It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales.”Read the story >View the commentary >View the forecast >View Pending Home Sales Index>
2008 Local Market Reports
Every housing market is unique, and all real estate is local. That’s why NAR is working to bring you more information on the local level. These reports, which encompass 150 separate local markets, reflect data available through the first quarter of 2008 and provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets. Each downloadable report evaluates a number of factors affecting home prices, including:
The health of the local job market
Foreclosure rates
Housing inventory
Debt-to-income and mortgage-servicing-costs-to-income ratios
These reports are available to members only and require a log in.Find your local market >How to read these reports > (342K PDF)
Dr. Yun’s 2009 Economic Forecast
The U.S. economy has entered a recession and will contract for the next three quarters, and the recovery, from the second half of 2009, will be tepid. The unemployment rate will peak at 6.7 percent by midyear next year before steadily heading down. However, existing home sales will be rising despite challenging economic times. Read the entire commentary >
COMMERCIAL FUNDAMENTALS
Multi-Family Market Trends
While the residential market is still dealing with delinquent mortgages and foreclosures, the multi-family sector is feeling some positive side-effects. A good number of potential first-time home buyers are waiting out the current economic and housing conditions, and choosing to rent. In addition, in markets with significant foreclosures, displaced homeowners choose multi-family buildings to rent. Read more >

When the going gets tough; 9 Ways to work through the Stagnifaction...

2008-05-19T12:54:00.000-07:00

So how do you put these words into action? Here are 9 ways how …
1. Live by the Serenity Prayer - “Accept the things you cannot change, have courage to change the things you can and the wisdom to know the difference.” In business, the wind is either going to blow against your back or directly in your face, but rarely will it blow neutral. Remain calm and composed and keep sailing full force forward through stormy seas ahead.
2. Ignite the passion for what you do - Remember why you got into your given field and retain the enjoyment you have for the business. Passion creates positive energy, which ignites and excites, whereas stress creates negative energy, which deflates and fatigues. When you have a passion for what you do, you enjoy the process (your job) as much as the end result (your paycheck). And passion is contagious, lifting your staff, co-workers and customers and producing better results in the process.
3. Commit yourself to personal and professional goals - Dreams are all about “wanting, hoping and waiting for it to happen,” whereas goals are dreams with a deadline. The two most self-defeating words in goal setting are “if only”; they provide a built in excuse. Write your goals down, visualize achieving these goals and live for them everyday.
4. Have a plan - “If you do not have a roadmap, any ole road will get you there.” Make sure, when working towards the plan and on daily to-do tasks, the energy you exert has an economic benefit and gets you closer to your goal; otherwise it’s wasted energy. Set mini goals with mini timelines and stay laser focused, ignoring the many distractions trying to sway you off track.
5. Work the plan - While having a positive attitude is important, only when coupled with positive activities will bring success. Your plan should include sales, marketing and PR components to attract the business that you deserve.
6. Refine and live your value proposition - In these days of hyper-competition, you have to have a USP (Unique Selling Proposition) that translates to a UBA (Unique Buying Advantage). If you’re not unique, you can’t compete. Know and promote your 3 Ds; what makes you drastically and distinctively different.
7. Provide a world-class customer experience - During tougher economic times, there is a tendency for buyers to become more price conscious in an effort to save money. As competition increases and business slows, there is a knee-jerk reaction for businesses to reduce prices to match or beat the competition. Instead, focus on the unique value that you provide through an outstanding customer experience, with value-added benefits that customers and clients cannot receive anywhere else. Protect your turf by reinforcing the value that you provide before the competition out-positions or undersells you.
8. Focus on new business development - If per-account spending is affected by a slow down, expanding your customer base can make up the difference. There are others in your market who could be just as satisfied with your products, services and customer experience as your existing clientele are … they just don’t know it yet.
9. Brand extend - Consider new revenue sources that you can capitalize on within your business. Starbucks has been successful selling CDs, UPS stores selling greeting cards and Applebee’s offering “Curbside to Go.” What add-on products and services would be of interest to your existing clientele that could provide additional revenue without a lot of additional cost or additional effort?
While the above are important in any economic environment, they are imperative in tougher economic times. Business is cyclical, and those who dig deep to plant strong roots will not only survive the down cycle, but will thrive when the economy turns. Hunker down, get back to business and take back control of your destiny. You are in good hands … your own!

What's Happening with Mortgage rates?

2008-02-21T15:56:00.000-08:00

Mortgage rates have been on the rise. I’m now looking at about 6.25% - 6.50% (note rate) for a highly qualified buyer’s, but why?
The question is simple enough: What's going on with mortgage rates?
What makes them rise, or fall? Is it the Fed? The economy? Inflation? The banks? The President? Fannie Mae or Freddie Mac? Is it a secret ?
The answer is that rates are moved by a number of related factors, and believe it or not, you -- Joe or Jane Consumer -- are one of those factors.
Mortgage money can come from many sources, including deposits at banks and brokerages, but most comes from investors through what is collectively known the "capital markets." This is where investors interested in purchasing certain kinds of debt instruments -- bonds, in this case -- come to buy these items.
In order to attract investors, sellers of bonds must compete with one another to get their money. They do this by offering a variety of “instruments" (also called "product") with differing structures of risk and return over given periods of time. These offerings compete with other investments which are reasonably similar in performance, such as US Treasuries, corporate bonds, foreign bonds, etc.
Who are these investors, and why are they so fickle? Mostly, they're people like us, and we want two opposing things: low payments on our debt, especially our mortgage, and high returns on our investments. You (or your investment advisors or fund managers) will only buy so many low- yielding bond investments (mortgage or otherwise), because we would take our money elsewhere if the returns are too low.
Investor demand for a given kind of investment plays a considerable role in moving market yields, because investors have literally hundreds of places to put their money. It's a crowded marketplace, with many sellers of various products competing for those investor dollars. Investor demand for specific product rises and falls with changes in investment strategies; if demand falls enough, a change needs to be made to attract investors again. How to attract them again? Usually it’s by raising the interest rates, thereby raising the return on investment.
Of course, it's not as easy or simple as that. Mortgage market makers serve not one client, but two: investors, who want the highest possible return on their investments, and the homeowner or homebuyer, who wants the lowest possible interest rate. Simultaneously, rates need to be high enough to attract investors but low enough to attract borrowers. It's quite a complex dance; investors, though, make the music.
As interest rates (yields) decline, investment customers can become more or less interested, depending upon the direction of economic growth, inflation, appetite for the given product, and several other factors. Typically, though, the lower those rates get, the fewer investors are interested in putting them on their books … so again we are facing higher rates to compete with higher investment return.
Bottom line: I think we will see another Fed rate cut. If and when this happens, my personal opinion is that the window of opportunity to cash in on a great rate will be narrow. The Wall Street investor’s will want risk reduction and more return on their investment pool of funds. The prospective currently is that the market has not corrected itself …at least not yet.

Let me know if I can help you.

Gail Roberts / Columbia Mortgage
360- 816-9207 office
360-903-8423 cell

Home Sales to be Flat Before Rise

2008-02-08T12:21:00.000-08:00

A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS® .

Lawrence Yun, NAR chief economist, said sales activity is expected to remain soft through the first half of the year despite a generational low in mortgage interest rates. “Household formation was only half of what it should have been last year given the demographics of a growing population and sustained job growth, so there clearly is a pent-up demand from buyers who are on the sidelines,” he said. “Existing-home sales have moved narrowly since last September, but when the full impact of higher loan limits for conventional mortgages begins to impact the market there is likely to be a notable rise in home sales and prices. If higher limits are enacted very quickly, we’ll see a faster and more meaningful recovery by expanding safe, affordable financing in high-cost areas – that, in turn, would help to stimulate overall economic activity.”

http://www.realtor.org/rmodaily.nsf/pages/News2008020701?OpenDocument

Fed Move May Not Change Mortgage Rates

2008-02-01T11:43:00.000-08:00

by Chris Kissell Thursday, January 31, 2008
When the Federal Reserve meets and changes rates, we all have questions: What does it mean to me? Will my mortgage rate go up or down? Is this a good time to refinance? Bankrate is here to help. We've looked at five categories -- mortgages, home equity loans, auto loans, credit cards and certificates of deposit -- to determine if the Fed's moves made you a winner or a loser. Here's a look at mortgages: Click on bottom link for the rest of the story.
More From Bankrate.com: • Mortgage Rates Skyrocket • Smart Strategies After the Fed Cut • Refinancing Exotic Mortgages
Mortgages
http://finance.yahoo.com/personal-finance/article/104327/Fed-Move-May-Not-Change-Mortgage-Rates;_ylt=AnTzkRGjbS75Cg_kqs9u96G7YWsA

Dilemma for Sellers

2008-01-23T18:28:00.000-08:00

Wednesday, November 28, 2007BY CAMI JONER, Columbian staff writer

It's been four months since Lori and Fred Clark put their Vancouver house up for sale and joined thousands of sellers in pursuit of a shallow pool of buyers.

While they haven't had any offers for their one-story ranch, the Clarks say they're willing to wait out the market. However, they've taken down the "For Sale" sign that was once in their tidy front yard because they're fed up with curiosity seekers who seem to think the sign gives them license to peer into windows and trample through gardens. They've also cut their price.

The rest of the story; http://www.columbian.com/business/businessNews/2007/11/11282007_Sellers-Dilemma.cfm

5 Simple Ways to Increase a Home's Value

2008-01-05T12:28:00.000-08:00

Good home maintenance is key to creating and preserving a home’s value. Not to mention, it also impresses potential buyers. Here are five basic steps that every home owner ought to take — before spending money on dream bathrooms or gourmet kitchens.
1. Safety. Make sure smoke detectors and carbon monoxide detectors are installed and in good working order. Check fuel-burning appliances to make sure they are properly vented and no gas connections leak. Make sure the electrical system is adequate. Flickering lights and popping breakers are the sign of a problem. Anchor handrails and grab bars adequately.
2. Preventive maintenance. Repair any leaks in the roof, seal gaps in the siding, paint bare wood, replace damaged decking, patch cracks in concrete, and caulk around tubs and showers.
3. Conserve energy. Install a programmable thermostat, weatherstrip doors and windows, fix leaking faucets, upgrade insulation, and replace leaky windows.
4. Go green. Consider environmentally friendly materials for windows, doors, siding, decking, fencing, roofing, flooring, and insulation.
5. Improve comfort. Get rid of clutter, open up spaces, update window treatments to allow in more light, and organize closets and storage.Source: The Associated Press, James and Morris Carey (12/29/07)

Where the Truth about Today’s Market Really Lies

2008-01-03T13:54:00.000-08:00

Where the Truth about Today’s Market Really LiesBy Eugene L. Meyer
RISMEDIA, Jan. 3, 2008—The latest news on the real estate front was either calmly reassuring or deeply alarming, depending on your point of view. The lead paragraph on the National Association of Realtors’ Nov. 21 release reported that home sales prices actually rose in most metropolitan markets. The Associated Press lead, however, emphasized the negative statistic that the number of home sales had fallen in 46 states during the third quarter. Both were correct. http://rismedia.com/wp/2008-01-02/where-the-truth-about-todays-market-really-lies/

Year to Date Trends

2007-12-18T15:33:00.000-08:00

Dec. 16, 2007 - SW WASHINGTON (Clark County Washington) RESIDENTIAL REVIEW:
Residential Highlights
New listings dropped 4.3% this October, compared to October of 2006. Additionally, closed sales and pending sales decreased 27% and 21.7%, respectively. At the month’s current rate of sales, the 4,464 active residential listings would last approximately 11.4 months.

Comparing January-October 2007 to the same period in 2006, new listings have now decreased a slight 1.2%. Closed sales and pending sales are both on the decline at 16.8% and 15.9%, respectively.

Appreciation
A comparison of the 12 months ending with October 2007 to the 12 immediately prior shows that the average sale price grew 3% ($307,000 v. $298,100). Using the same formula, the median sale price increased 1% ($262,500 v. $259,900).

(From RMLS)

10 Best Performing Markets

2007-12-14T16:16:00.000-08:00

Daily Real Estate News December 11, 2007Housing Markets That Are Still ThrivingThe best-performing housing market in the country during the third quarter was picturesque Wenatchee, a city of more than 35,000 that is the seat of Chelan County, Wash. Prices in the Wenatchee metro area increased by 15.7 percent year over year, according to RealtyTrac.Home prices also jumped more than 10 percent in second home markets in Utah, Idaho, and Colorado. "They're doing so well because they're getting the run-off from California, Nevada, and Arizona," says Jeannine Cataldi, senior economist for Global Insight. "When prices got so high [in those states], people said, 'there must be places that are more affordable.’”Here are the top 10 best performing markets in the country:
Wenatchee, Wash.: 15.7 percent
Provo-Orem, Utah: 14.35 percent
Grand Junction, Colo.: 14.05 percent
Ogden-Clearfield, Utah: 13.95 percent
Salt Lake City: 13.37 percent
Idaho Fall, Idaho: 11.69 percent
Austin-Round Rock, Texas: 9.67 percent
Beaumont-Port Arthur, Texas: 9.44 percent
Asheville, N.C.: 9.44 percent
Billings, Mont.: 9.07 percentSource: BusinessWeek, Prashant Gopal (12/10/07)

Top 10 Best Performing Housing Markets

2007-11-30T11:27:00.000-08:00

Top 10 Best Performing Housing Markets
As anybody who has ever sold real estate knows, there are no national markets, only local markets. That adage holds true when you look at the condition of the real estate business nationwide. Business may be tough in many places, but it's not tough all over.In Salt Lake City, Charlotte, N.C., and San Jose, Calif., prices have climbed relentlessly. In the Northeast, the biggest gainers are the gritty cities of Buffalo, N.Y., Pittsburgh, Pa., and Philadelphia.In the West, business is brisk in Northern California and the Pacific Northwest.Here are the top 10 best performing housing markets, according to Forbes magazine, their third quarter median home sale prices, and the percentage that prices have risen compared to third quarter 2006.
Salt Lake City - median home sales price: $246,700; Percent change: 14.1 percent
Charlotte, N.C. - $220,000, 11 percent
San Jose, Calif. - $852,500, 9.4 percent
San Francisco - $825,400, 8.6 percent
Raleigh, N.C. - $229,500, 7.5 percent
Austin - $188,200, 7.2 percent
Pittsburgh - $127,700, 6.1 percent
Seattle - $394,700, 6 percent
San Antonio - $154,700, 5.7 percent Portland, Ore. - $299,700, 5.2 percent

House-price data by metro area

2007-03-02T13:19:00.000-08:00

By MSN Money staff
Appreciation in U.S. housing prices continued a slowdown in the fourth quarter of 2006, following a trend that had started earlier in the year.
Twenty-five metro areas recorded decreases house prices, the Office of Federal Housing Enterprise Oversight (OFHEO) reported this morning.
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx

What's 'beautiful' worth? About $12,500

2007-03-01T20:02:00.000-08:00

What's 'beautiful' worth? About $12,500
The right phrasing in real estate listings can speed a sale and even boost the final price, a Canadian study says. And here's a tip: If you must sell, don't put "must sell" in your ad.
By Marilyn Lewis
For more information... http://realestate.msn.com/selling/Article2.aspx?cp-documentid=2856666

New Land Deal

2007-02-25T20:27:00.000-08:00

Let's make a land dealThe $17.8 million land purchase by Southwest Washington Medical Center in Ridgefield announced last ...
http://www.columbian.com/business/businessNews/02252007news108543.cfm

Ridgefield is Growing!

2007-02-11T17:13:00.000-08:00

Sunday, February 11, 2007BY CAMI JONER
RIDGEFIELD - Backhoes and bulldozers are a familiar sight around the Interstate 5 gateway to this once rural community where work is under way on $40 million worth of new job-related construction.
http://www.columbian.com/business/businessNews/02112007news103249.cfm

Stop Squeezing the Home Owner

2007-01-17T16:27:00.000-08:00

The priority Topic for the Washington State Realtors Associatin. Addressing the affordable housing shortage. Realtors fight for homes...http://www.itsapriority.com/

Are holding Open Houses still worth it?

2007-01-16T15:01:00.000-08:00

Industry watchers evaluate the practicality of holding open houses in today's market
By John VoketRISMEDIA, Jan. 16, 2007-In this age of "virtual tours," "talking houses," and practically every real estate client using the Internet during some segment of their new home search, is the practice of hosting open houses becoming impractical? Continued >

Is that Mold in the Attic?

2007-01-07T18:50:00.000-08:00

Energy Adviser: Condensation likely cause of mold in attic
Sunday, January 07, 2007BRUCE CARTER for The Columbian

I was recently in my attic retrieving Christmas decorations and noticed that the underside of the roofing had turned black! Is this mold? What is causing it and how do I get rid of it?
http://www.columbian.com/lifeHome/lifeHomeNews/01072007news90484.cfm

Ready for the Next Boom: Prudential Targets Next Wave

2006-12-28T11:03:00.000-08:00

By Beth McGuire
RISMEDIA, December 28, 2006-Despite all that's been written about the slumping real estate market, the National Association of Realtors predicts that 2007 will be the third best year in real estate history. That said, the reality is that real estate is a local business, and these past few months have been a mixed bag for brokers and sales professionals across the country.
http://www.rismedia.com/wp/2006-12-27/ready-for-the-next-boom-prudential-targets-next-wave

Sales of New Homes Rise in November

2006-12-27T13:47:00.000-08:00

AP / Wednesday December 27, 11:49 am ET By Martin Crutsinger, AP Economics Writer

Sales of New Homes Rise in November; Backlog of Unsold Homes Fall for Fourth Consecutive Month
WASHINGTON (AP) -- Sales of new homes rose in November while the backlog of unsold homes fell for a fourth straight month, providing hope that the serious slump in housing could be ending.
Sales of new single-family homes rose by 3.4 percent last month to a seasonally adjusted annual rate of 1.047 million units, reflecting solid sales increases in every region of the country except the South, the Commerce Department reported Wednesday.
more....
http://biz.yahoo.com/ap/061227/economy.html?.v=7

Where did all the Geese go?

2006-12-07T12:28:00.000-08:00

Every year the geese return to the Columbia River low lands and we that surround them get the pleasure to hear them evenings and mornings as they take to the sky on their journey.

This year I haven't seen or heard the numbers I'm use too. Usually thety are annoying and deftining, yet you can count on them every spring.

Am I early in my assumption or did they take a different route?