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Why is Real Estate So Confusing Today?

May Shows a Continued Strong Pace for Existing Home Sales –  National Association of Realtors (NAR) June Existing Home Sales Report headline Is May’s Home Sales Decline an Alarming Signal of What’s to Come? – headline of an article in Housing Wire Both of the above headlines appeared this past Wednesday. They seem to be […]

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Communication IS the Lubrication

Catchy headline, yes?  But I have been reflecting lately on how we can improve the “client experience”, and I was reminded of something I heard mortgage icon Greg Frost say way back in 1994.  From a stage in Palm Desert, California, Greg proclaimed that “Communication is the lubrication of a well-oiled transaction.”  I, like the […]

5 Things Sellers Must Require of a Real Estate Agent

Are you thinking of selling your home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just […]

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Job Creation: Only Solution for a Housing Recovery

The government has tried many stimulus programs to re-energize housing.  They attempted to kick-start demand by offering the First Time Home Buyers Tax Credit and they did have some success originally. They extended the program and added a provision for move-up buyers also. Even the government admits that the extension may not have increased demand […]

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5 Dumbest Reasons Given for Not Buying a Home

It is so easy to kick someone who is down. It doesn’t take much effort and there is little fear of retaliation. Many people are jumping on the band wagon riding against homeownership in this country. People are pontificating on every aspect. Whether it is pricing or the more intrinsic values of owning a home […]

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The Post Tax Credit Housing Market (Part 3)

How will home prices be impacted? The tax credit and most other government programs aimed at stimulating the housing industry have expired. Real estate is now on its own two feet and stepping into the second half of 2010. It appears that demand has fallen off a bit since the expiration of the tax credit […]

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The Post Tax Credit Housing Market (Part 2)

What will housing demand look like for the rest of 2010? It has been an interesting six weeks since the last of the government programs for buyers, the Home Buyer Tax Credit, has expired. Demand has slowed down but has not come to the screeching halt some had expected. The million dollar question is ‘What […]

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The Post Tax Credit Housing Market (Part 1)

Here we are six weeks after the expiration of the Homebuyer Tax Credit. Armageddon did not take place. Homes are still selling. Certain price points are actually selling quite well. The question remains what will happen to the overall housing market as we proceed through the year. There is still much uncertainty as to what […]

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Distressed Properties Impact the Value of YOUR Home

There are times in our lives when we have it better than many of our family, our friends and our neighbors. We try to help in any way we can. Yet, to some degree, we are relieved that we are not impacted by their challenges. Many people look at the heartache in the current housing […]

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The Appraisal: A True Evaluation of a Home’s Worth?

Every house for sale in today’s real estate market must be sold twice. First, you must find a buyer ready, willing and able to purchase the home. Second, you must sell the value of that house to a bank so they will agree to lend money based on the negotiated price. The second sale may […]

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News Alert! The Luxury Market Has Returned

There is no longer any question that luxury homes are beginning to sell.  The high-net-worth client has marked 2010 as the year to again start purchasing real estate and their desire is turning into sales. Financing is beginning to open up in the ‘jumbo’ market and prices are starting to reflect true values as upper […]

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Supply and Demand: How it applies to Real Estate

Supply and Demand. It is a relatively easy concept to understand. Most of us learn it in high school. The price of any item is determined by two variables: the demand for that item and the current supply of that item. If I had one of only seven Spanish gold coins known to exist, the […]

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It’s Not About Foreclosures. It’s About Pricing!

Many of our readers question why I spend as much time as I do on the foreclosure situation in the country. I want everyone to know that it is NOT an obsession with depressing news. I strongly believe that the wave of distressed properties (foreclosures and short sales) coming to market will dramatically impact house […]

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Where Will Home Prices Be in 2012?

This week we have discussed how difficult it is to establish the value of a home in today’s market, what factors will impact prices in 2010, the effect distressed properties will have on values, and the challenges faced by appraisers in establishing value. Today, I want to tackle future values… specifically where prices will be […]

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Who Cares What The Purchase Price Is… WILL IT APPRAISE?

The classic definition of what a home was worth has always been “what a reasonable buyer will pay a reasonable seller.”  That’s because MOST real estate transactions have historically involved reasonable people– people not under duress.  But today, with the enormous number of foreclosures, bank-owned property, strategic defaults, and short sales, all the reasonableness has […]

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Shadow Looms Over Home Prices

“We should pay heed to foreclosure activity, which have reached their highest level in at least the last five years. As these homes are put up for sale, we may see some further dampening in home prices.” – S&P Case Shiller Home Price Index 4/27/2010 “We expect the high rates of negative equity and foreclosures […]

6 Factors to Consider When Pricing Your Home

Yesterday, we showed how even the experts are having trouble determining price in the current real estate market. There are so many moving parts and each part is evolving rapidly. Today, we want to look at the major determining factors in establishing the current value of a residential property. If you currently have your house […]

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Why is Pricing a Home So Difficult?

We looked at the significance of a house as a home this past Friday. I hope everyone enjoyed the weekend and had the chance to personally feel the intrinsic value of a home. However, it would be unprofessional of us not to acknowledge that each house also has a market value, which is the price […]

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And The Survey Says!

Every day on our blog we try to give you insights from industry experts on issues that matter the most in real estate. Today we want to give you the thoughts of some non-professionals. People like us. Friends and neighbors who have personally experienced the ups-and-downs of the housing market over the last few years. […]

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If Supply Goes Up, Prices Will Go Down

HOUSING SUPPLY Today I want to cover the impact the expired tax credit and the Fed’s exit of the mortgage market will have on home prices as we move forward. Whenever we talk about pricing, we must look at two variables: supply and demand. We covered buyer demand in yesterday’s blog, No Tax Credit.  How […]

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No Tax Credit. How Will You Wind Up?

BUYER DEMAND The big question in the real estate industry today is what happens now that the Homebuyer Tax Credit has expired. There are many theories around this issue. Some believe that the tax credit (along with other government programs) has created a stabilization in the housing market both in the number of sales and […]

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The Upper End: Win, Place, or Show?

In this horserace to a more normalized housing market, there seemed to be only one constant. The luxury market has been the horse bringing up the rear. We have been experiencing some stability in the lower price points in almost every geographic market. However, the upper tier price points have had an overabundance of inventory […]

Better Questions Will Get You a Better Agent

When interviewing agents to sell their home, most homesellers really only care about the answer to two questions: Who is going to sell it for the most money? Who is going to charge me the least? The result of these narrow criteria is painful to the seller.  Most people list their home at a price […]

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Housing in 2010: Supply Will Grow, Demand Will Slow

When we talk about future pricing on any item we must look ahead and determine two things: supply and demand. It is a rather simple concept but one that often is forgotten when we talk about real estate. In a blog post last week titled Pricing a House in Today’s Real Estate Market, I touched […]

5 Good Reasons to Sell Your House NOW!

In Monday’s blog, 5 Good Reasons to Buy That Home NOW!, I discussed why now was the best time to jump in and buy a home. Today I want to discuss why now is also the time to sell a house you own. It might seem contradictory to claim that it is the best time […]