Real Estate Search and Sale LLC

Everyone wants to buy a home that will appreciate in value…

There are many buyers that are holding off on their home purchases until the market hits the bottom.

I get ten calls and emails a day asking when we will hit the bottom. Many people have poised themselves to pounce on a good deal. Let me make this clear right now. Real estate has an always will have mixed results. Some areas are going to experience significant gains, while others are going to be flat or loose money.

There are cities in the country that have seem double digit price increases in the residential market, compared to the last quarter of 2007. The Sacramento–Arden-Arcade–Roseville, CA area has lost 18.5%, whereas the Yakima, WA has gained 18%. Don’t get caught up in the hype of a downward market. There are financial factors and social economic conditions which dictate the market.

According to Realtor.com the Washington-Arlington-Alexandria, DC-VA-MD-WV area has had a 5.1% price drop in the last quarter of 2007 compared to the last quarter of 2006. There are certainly pockets within a smaller area that have experienced over 15% price drops, while some areas are holding strong.

Work with a Realtor who has her mind on the big picture and pays attention to these trends. Trends will vary by neighborhood, but be influenced by external factors. Ask your Realtor for statistical analysis prior to looking at properties and you will end up with a better return on your investment.

Does the Realtor know how to located lender owned properties, also known as Real Estate Owned Properties (REO’s), short sales, and for sale by owner properties? Once you identify the target area, you can work with your Realtor to find out who has the deals that you may be interested in.

Does your Realtor know a significant amount about financing?  Many Realtors will back off from this issue, stating that it is the lenders department and that they should not know about the buyer’s finances. This is the most preposterous statement I have encountered. How can a Realtor obtain your objective and negotiate a deal on your behalf if they don’t have a finance background? They will not understand the dynamics of what is going on with the bank or the seller.

Can you imagine thinking that you are going to closing with a home owner who is selling the home themselves only to find out a few days before closing that they can’t afford to close and that you have wasted your time and opportunities to purchase other properties? Does the Realtor know how to negotiate with the bank and get them the necessary paperwork from both the buyer and the seller? Most do not know what is required and as they are fumbling about, the bank forecloses and goes to auction.

The bank may elect to put the home up for auction and if it does not meet the required minimum they will list the property themselves, for more than what you could have purchased the home for. The longer the home takes to sell, the more money the bank is losing.

Therefore, it is essential to take action as soon as you locate a home that you would like to purchase. If you don’t think that there is competition put in the lowest offer you think would be reasonable, and then lower it by 10%. When you are screening a Realtor for hire make sure that they are pleasant, learned and aggressive. These three qualities are essential for success.

It’s simple. The Realtor must know the market. They must be able to get their ridiculously low offer considered and then must close the deal.

 For Sale By Owner Success!  Part I

It is no secret that most people who elect to sell their homes on their own, For Sale By Owner (FSBO) give up and hire a Realtor.

Realtors feed on For Sale By Owners because they are taught in their very first real estate marketing course that the FSBO’s almost always convert to Realtor clients.  It is just a matter of which Realtor will real them in.
I am going to keep this painfully simple in Part I, as I want you to think through each step and simply ponder what I am saying before you read Part II. 

Most buyers are represented by *Realtors.  Realtors will take the path of least resistance and look up only the homes listed on the multiple listing service, or mls.  If you are not there, your home will not be shown.  It is that simple.

Access to your home is key.  Like I said, Realtors are very busy and will take the path of least resistance.  Think about how they are going to show your home when you are not there.  Do you want to give everyone that calls the combination to your lockbox?  How do you know that they are really a Realtor?  You don’t. 

The answer is to use a special electronic lockbox that is only available to Realtors.  I have never known a Realtor, who is trying to reel in a For Sale By owner offer to lend the home owner their lockbox.  The lockbox can record which Realtors are visiting your home and at what time they entered the home.  This is essential!  If anything is lost or broken, you have a way to track it.

Okay, I was going to wait until Part II to give you more information, but you will soon see that I am not patient when conveying pertinant information. 

Realtors are hungry!  Especially in this market.  They can be a real estate agent looking for a home for sale in Maryland, home for sale in Washington, or home for sale in Virginia, they are all hungry.  If you are offering the buyer’s agent less than 3%, your home will be shown less.

Less showings means it is less likely your home will sell for the asking price.

Read ALL available blogs on home for sale before you put your home on the market.

Because this is a new blog, it will take some time for me to get all sections posted.

Post if you have any questions.  Chances are that many other home owners have the same questions.