,

What is Today’s Luxury Buyer Thinking?

Whenever you are selling anything, it helps to have an idea what your customer is thinking. I had the opportunity to attend a session at the Luxury Portfolio Summit in Las Vegas which covered the findings of the Survey of Affluence and Wealth in America 2010 produced by American Express Publishing and the Harrison Group. […]

,

Buyers and Sellers Team Up on Financing- Part 2

Last week, we began with a premise…that Buyers have a WANT (the lowest monthly payment, even more than the lowest Sales Price) and Sellers have a NEED (to differentiate their home from all the others on the market), and that creative approaches to financing is a method to satisfy both Buyers and Sellers.  Part I […]

,

Buyers and Sellers Team Up on Financing

Let’s start with the premise that buyers do NOT buy big ticket items (like a home or a car) based on its sales price; rather, they buy based on their proposed monthly payment (or cost). Additionally, when looking to sell your home with so much availability of homes on the market, the biggest challenge a […]

, ,

Homeownership: Still the American Dream

There seems to be a long held American belief currently under attack. For over two hundred years, homeownership in this country was a desire of almost every American family.  Recently however, more and more people have been pontificating on the fact that owning your own home should never have been held in such high regard. […]

,

Fed Flip-Flops on House Flips

Finally, some good news from the FHA. Effective February 1st, the FHA is waiving their requirement of the “90 day holding period” before home sellers (predominantly real estate investors and speculators) can resell a piece of real estate to a buyer who uses FHA Insured financing.  Given the recent increase of the UFMIP, coming reduction […]

, ,

What Happens When the Fed Exits the Market?

The Fed is scheduled to exit the housing market this spring. The Home Buyer Tax Credit ends on April 30, 2010 (the date the house must be in contract). The Fed has already announced that their program purchasing mortgage-backed securities will expire on March 31, 2010. Most anticipate a quick and dramatic rise in interest […]

,

New FHA Rules

Today, after weeks of speculation, the FHA announced their plan to secure the solvency of the Insurance Fund.  And it is NOT good news for Homebuyers, and therefore, NOT good news for sellers either.  I’ll discuss the particulars in a minute; but first, let’s look at how this is the THIRD nail in the coffin […]

, ,

Are Foreclosures Coming to the Luxury Market?

There is no doubt that prices in the lower end of the market have fallen rather dramatically over the last several years. Much of this loss in equity occurred as people were unable to pay their mortgages, and the homes went to foreclosure. Many were quick to dismiss this dilemma as the result of questionable […]

,

Is Your Deal Dying? Find a Real Estate Doctor.

Operating in the current real estate market is no easy task. Whether you are selling a house, buying one, or doing both, it requires the skill of a surgeon to carefully slice through the layers of information available in order to get to the core issues. At the same time, you must have the insight […]

,

One more time: IT’S ABOUT SUPPLY AND DEMAND!

Coming into 2010, there are many people trying to decipher all the data that is being reported regarding the housing industry. The main goal is to try and bring clarity to a market that has been clouded with confusion for the last two years. We must prevent ourselves from looking for a simple solution that will justify […]

,

Real Estate 2010: New Year, Less Fear

“Fear always springs from ignorance.” -Ralph Waldo Emerson Unlike last year, we are better prepared for the challenges ahead of us.  Knowing how the market is moving will help us in the decisions we make.  Here are a few things to consider when making your move into the New Year: Mortgaging Interest Rates – Rates remained […]

, , ,

Looking Back: Top 10 Real Estate Stories of 2009

The last week of December is always an interesting time. As we plan for the next year, we like to look back on all the important stories and events of the last year. We will gather around the television or paper and endlessly quiz each other on the multitude of Top 10 Lists that inevitably appear. Here […]

, ,

OMG! Is that a Luxury Home Buyer I See?

Yesterday, we reported on the differences between two major housing reports that were released last week. Today, I want to comment on something both reports had in common but has been vastly under-reported: the sudden increase in sales of luxury homes. The past several months have shown a tremendous uptick in buyer activity. And, though […]

, ,

Home Sales: UP…no wait…DOWN…no wait…

This past week there were two different housing reports released. The first was the National Association of Realtors’ ‘Existing-Home Sales Report’ and the other was the U.S. Census Bureau’s ‘New Construction Report’. The most confusing part of the news is how divergent the data on the reports was. The Existing-Home Sales Report showed a month-over-month […]

, ,

Strategic Defaults: Naughty or Nice?

You can’t pick up a paper or turn on a television today without hearing about the foreclosure situation in this country. There is no doubt the current economy and unemployment numbers have devastated the finances of many families and thus made it impossible for them to pay their mortgage. However, what many don’t realize is that […]

,

Should You Be Afraid of Shadows?

The two most important factors whenever you price anything is the demand for that item and the current supply of that item. It is well known as the supply and demand curve. Real estate is no different.  So, as we are about to head into 2010, let’s look at the potential demand for residential housing […]

Bigger Ads Don’t Make Dumber Buyers

Being ‘in and around’ the real estate business for most of my adult life, I am still confused about the importance both sellers and real estate agents give to advertising.  Decades ago, advertising a home was important to attract a buyer because there was no other way for an individual real estate office to announce to […]

,

Money to Purchase AND Renovate Your Home

Whether you are looking at a Foreclosed Home, Bank REO, a Short Sale, or any home really, you need to be aware of the FHA 203K Program.  The general condition of real estate has taken a dip over the past few years, as homeowners are not sprucing up their homes as they have in the […]

,

Creating Wealth through Real Estate: Moving On Up

Over the last couple of days, we have talked about real estate as an investment, financing costs (interest rates) and gave you reasons to buy now instead of waiting. It is important that we realize that this does not apply solely to the first time home buyer. The opportunity that exists in real estate today is […]

,

Sell Now or Wait?

This past week, we have discussed how the current economy is wreaking havoc on our housing industry, how many homeowners can no longer make their mortgage payments and can’t qualify for a loan modification. We reported that millions of these homes will eventually become foreclosures or, in a best case scenario, a short sale. You […]

,

Today’s Talking Point 11/09/09

What is the definition of ‘Accumulation’ rate? ‘Accumulation’ rate talks to the point of future inventory coming to the market. An example of this is Zillow ‘s recent report suggesting an additional 7 million homeowners are ‘very likely’ to put their homes up for sale if they see the market getting better. Another example is […]

,

Today’s Talking Point 11/02/2009

7 Step Action Plan for Tax Credit Extension Step #1 – Contact anyone who might have given up. Originally, there was a lot of speculation that there would be no extension granted. That caused some buyers to stop looking (especially in regions where closings take longer). We must immediately reconnect with this group. Step #2 […]

,

Today’s Talking Point 10/26/09

Existing Home Sales Skyrocket – What does that mean to your business? First, I want to congratulate all the real estate professionals out there who helped make this happen. (Didn’t have a sale last month? Don’t despair – this will be your month!!). However, as I always say, let’s look behind the headline for the […]

Top 10 Home-Selling Mistakes

HGTV’s FrontDoor.com identified what it believes to be the top 10 home-selling mistakes. The KCM CrewWe believe every family should feel confident when buying & selling a home. KCM helps real estate professionals reach these families & enables the agent to simply & effectively explain a complex housing market. Take a 14-Day Free Trial of […]