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Sellers sellers every where, but what are they thinking?

It makes you wonder if they have’nt figured out what it takes to sell a house.  No insult intended here, but really, lets think about it.   We’re certainly in a buyers market and houses are listed on virtually every street.  But why are the buyers not buying?

If you have’nt figured it out, it’s simple.  Buyers are consumers and as consumers they’re “always” looking for deals.  Hey, I just listed a house $30K below market and in the first three days I had over twenty showings, three offers, a ratified contract and after that we still got three more offers.  So the buyers are out there.

So pricing the property correctly does make a difference, but that’s only part of it.  The other part is making sure people know it exists, which is where a strong marketing campaign is crucial.  If they don’t don’t know about it, they’ll never inquire about or look at it.  Here’s a quick note; price and marketing are one in the same.

If you’re not descriptive and positive in your marketing campaign, chances are you’re not going to get as good a response if you were.  People love excitement and you have to be excited when you put together a marketing campaign.  And finally, you need to consider the agent if the buyer is working with one.

Hmmmmm, did I say agent?  Of course I did and without them, your house may never ever be shown.  So when you’re thinking about marketing and price also think about commission.  Did you notice how I just added another ingredient to the recipe?  Well it’s because selling a property has a lot of considerations to take into account.  As such, you need an agent (if you elect to work with one) that knows your area and what it’ll take to sell or lease that property.

Here’s a “non-inclusive” list at the bare minimum:

1. Price; price to attract and price not to chase the market;
2. Marketing; be positive, be descriptive and be excited;
3. Commission; make it worth while to the agent by getting that agent on board;
4. Closing Help; in today’s market buyers are looking for some seller help towards closing costs;
5. Home Warranty; buyers love to know they have that added security should something go wrong.

A small list, but a list at the very least all sellers should review when preparing to sell property.  In this market, the last thing you want your property to do is sit.  If it sits, chances are you’re doing something wrong and you need to evaluate it quickly.  If it sits to long, don;t expect many showings.

For other interesting real estate related articles, please visit us online at http://www.worldpropertiesonline.net.  A great resource with lots of ideas to keep you in front your competition.

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Look at your local ordinances before placing your “for sale” signs on your local road ways. Many jurisdictions have requirements and special criteria for road way signs that you need to know about.  Failure to do your research could have your sign pulled and may even cost you a fine.  

For example, if you’re an agent working under a brokers license, you “must” also have that brokers name and phone number listed or you maybe in violation of the law.  Another example maybe that signs are only allowed up during certain days and/or times.  The laws/ordinances vary by where local. 

It may not even be limited to the law for road ways, but you may also want to check out your HOA or Condo Association before installing signs on the grounds.  There’s a lot to think about, but be a good neighbor and stay within the law.  Consult your local governmental agency or a similar professional to see what your requirements are and will be. 

I always error on the side of caution and advise the same of you.  For other real estate related articles, please check out our blogs on http://www.WorldPropertiesOnline.net.  We’re a website that loves to talk property and promote property.  We’re also a great place to list property if you’re serious about getting your property world wide exposure.  We get a tremendous amount of traffic from all over the world.

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Sellers love to sell property, but it does’nt go without hard work or making the required disclosures.

Hmmm, did I say disclosures?  Certainly I did and it could be as simple as zoning to what’s wrong with the property.  Yes, you have to disclose and I don’t know of any property where sellers can just sell property without telling the buyer anything. 

If it’s land, you have to disclose to them how its zoned and see if it works for them.  You also have to tell them about any easements in place or something other.  Failure to do so may jeopardize more than just the sale but may also justify legal action for failing to disclose.  If it’s commercial property the landlord may have certain restrictions or the area may have certain ordinances that prevent them from doing certain things; which again another deal breaker.  If it’s property there are also certain disclosures that have to be made to the buyer.

My bottom line is make sure that you know what your required disclosures are to the buyer.  Failure to do the required disclosures can costs you more than you think.  And when you’re in doubt, talk with a professional; there are no stupid questions except for the ones you did’nt ask.  A professional can be an attorney, real estate agent, developer or someone else in a related field. 

For other real estate related articles, please check out our blogs at http://www.WorldPropertiesOnline.net.  When it comes to real estate, we love to talk about it and promote it.  When we promote it, we promote to the world and as a result we get a tremendous amount of website traffic.

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Having good credit in any environment is something that everyone should strive for.  Not only is it goof to have, but the rewards of having good credit are numerous in many ways. 

Just like the guidelines that revamped the types of loans available on the open market, lenders also have new ways to calculate good credit.  Pretty much everyone is retooling or revamping the way things are done.  And it goes without saying that the way credit is viewed in today’s market is ever more important.  Everyone looks at credit, whether it be your car insurance, homeowners insurance, credit cards, to buy a car or even a home is is ever so important.  Your credit will determine your interest rate and the type of financing options available to you. 

Here is a quick overview of the changes to expect when it comes to credit:

1. Some mistakes are forgiven over a period of time.  Providing you have at least a ten year credit history, a major goof should’nt hurt you as bad if it were a year ago.
2. Consumers who elect to shop around for the best deal won’t be hit as hard with credit as a year ago.  Multiple inquires for credit are ok; not great but ok.  I think they’ve gotten smart and realize that smart consumers are shopping for the best deals out there and interest rates are no exception.
3. Having good credit can work for you.  Consumers should always have a variety of debt and be able to show that they can manage such debt.  But keep in mind to avoid reaching your limit, reaching your limit causes you to lose points and impacts your FICO score.  It’s better to spread your amount owed over several cards than maxing one out.

Good credit does help and it does offer rewards to those of us that manage it well.  For other interesting real estate related articles, please visit us online at http://www.WorldPropertiesOnline.net.  We always look forward to hearing from our readers.  And as always, WorldPropertiesOnline.net is a great place to list property.

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In today’s real estate market, getting prequalified is a prudent thing to do before you venture out to house hunt. 

Getting prequalified before venturing out will better your chances of finding the right home and making sure that the deal will hold together.  Often times buyers look before doing this and find one of several things happen.  For example, you maybe looking at houses outside your price range or maybe sometimes below.  Sometimes you may not even qualify for a house or have enough money to make a down-payment.  Prequalifying yourself before venturing out helps you avoid those obstacles and will make the process run that more smoother.

Also keep in mind that it’s one of the first things a “smart” agent looks for.  So do yourself a favor and start talking with a reputable lender now.  If you can’t find one, talk with a local agent who can recommend one to you.  And it may not be a bad idea to tell them what you’re looking for, so that once you are prequalified they can get you out looking that much sooner.

Good luck and good hunting.  For other real estate related articles, please visit us online at http://www.WorldPropertiesOnline.net a site that receives world wide coverage and an excellent place to list properties.

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It’s time to buy a property, but you need financing first and you’re just not sure where to go. 

Personally I like mortgage brokers, but unlike a year ago a lot of lenders have started to not accept applications or underwrite contracts submited by mortgage brokers.  Take for example Bank of America, National City and I’m sure more will follow suite. 

Don’t panic yet, because mortgage brokers have a lot of other viable lenders out there to work with.  Most often they can find you a package that meets your lifestyle that other lenders cannot offer.  Yes, not all lenders offer the same products.  Hence, a mortgage broker can shop around for you and find one that works.   But note, for that service you pay a little more, but you reap the rewards of this service in the long run. 

On the other hand, it may not hurt to shop around and see if another lender can match the product being offered to you.  In which case you get the best of both worlds; the best product and at less costs to you.  But is the extra leg work worth it to you?  Most people say no when you consider the back and forth you’ll be doing and trust me you will.  And for those of you that do use a mortgage broker and wonder if a lender could have offered you something better, simply ask the broker.   The mortgage broker often times know’s what products lenders have and can offer; I just hope they’ll be honest with you - most are.

In any event, make sure the lender or mortgage broker you use is reputable.  Regardless if you use a mortgage broker or not, make sure the lender you settle with to fund your loan is reputable.  Don’t use an unknown lender as it may cause headache down the road at the worst possible time; the day of settlement. 

When in doubt, start asking questions and make sure they understand the laws of your state and are able to fund the loan on or before the day of settlement.

So do I have a preference; no, not as long as I’m getting the best deal out there with a reputable lender.  Once the loan is closed and I have the property, who cares.  As a matter of fact that loan maybe sold to another lender shortly thereafter, but that’s another story.  For other real estate related blogs, please visit us online at http://www.WorldPropertiesOnline.net.  And as always, we’re a great place to list property with a world wide audience and maximum exposure.

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If a property has sat long enough, maybe it’s time to start asking yourself or the seller certain questions?  

Everyone knows we have a tremendous amount of inventory which keeps growing daily.  Sales cannot out-pace listings so what are you doing about it?  Hopefully something, but if not we’ve put together a list of thoughts for you to consider:

• Why has’nt the property received any offers? 
• If you did receive an offer, why did’nt the transaction go through?
• How many inquiries or showings did the property receive?
• Was the property listed before and how does it compare?  Was there a difference in marketing strategies?
• And considering all the above, what changes are you willing to make?

How you answer these questions determines how serious you are and if you’re motivated seller or not.   

I suspect most people are motivated enough now after having their property sit long enough and are willing to do what it takes to sell or rent the property.  Hard questions, but easy solutions.  You’ll find three things required to motivate buyers and get that listing activity:

1. Price; you need to beat the competition and “under-price” your property.  Beggars cannot be choosers and the market is “not” on your side.
2. Networking; are you talking with the right people.  Networking can be as simple as talking with your neighbor or coworkers in the office.  You never know who may know someone looking for a property and that property maybe yours.
3. Advertising; as you advertising your property.  Fact is, online advertising gets a better response than advertising in a newspaper or a local trade publication.  Not only is it cheaper, but it runs for a longer period of time and is typically editable 24/7.

If you’re serious about marketing property (and we are), you should consider listing your property on http://www.WorldPropertiesOnline.  Our website receives traffic from all over the world and one maybe a buyer for your property.

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Reduced is a common theme in the real estate market today, but have you wondered why?

It’s certainly not because houses are in a declining market, it’s because houses were over priced from the start.  As such those over-priced houses are now being reduced and starting to come in line with where they should have been from the start.  This is why many people say we’re in a declining market. 

So until sellers get it in there head that we’re NO LONGER in a sellers market, expect to see those sign riders with “reduced” for several more weeks and or months.  The good news is, new inventory coming online should be priced correctly forcing the older listings to drop in price; if the selling agent is going there job and notices the trend.  

In the mean time these riders are going to make people wonder how low will they go?  So you still need to be prepared to tackle low-ball offers.  Remember, don’t get offended by low-ball offers; take it as an invitation for some dialogue with the potential buyer.

I think once a majority of houses finally settle on a price appropriate for their market, things will level off and we can all get back to the business of selling and buying houses.  And as for those “reduced” riders, don’t worry, they’ll also go away (eventually).  Smart agents who have those riders should remove them after a week or so, because they start to lose their appeal and could hurt a property more than help it.  Passing a reduced sign for so many weeks and no offers kinda sends a message; don’t you think?

If you’re in the market for other good real estate related blogs, please check us out online at http://www.WorldPropertiesOnline.net.  And if you’re a seller or agent looking to list property, our website receives world traffic and costs less than advertising in a newspaper or local trade publication. 

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If your listing has not received the type or amount of traffic you’ve been looking for, maybe it’s time to explore your options.

It’s always been my experience to look at what the competition has done or is doing and compare it to your efforts.  You may surprise yourself and see that maybe, just maybe they it could be one of the following:

• Before and after curb appeal.  Maybe before the property was listed it desperately needed to be power-washed or have the lawn cut.  Now, the house shines and the yard is well manicured.  Remember, curb appeal is the first thing a buyer see’s.  If it does’nt interest them from the outside, there’s an eighty percent chance they’ll move onto the next property.  Curb appeal does matter!
• Maybe the house was listed, but it did’nt have a “for sale” sign posted in the front yard; a big no no.  The second most way houses are seen by buyers are done by drive by’s.  It would surprise you that lots and lots of people drive around looking for houses for sale.  As such, it is equally important to have a brochure box on or near your for sale sign.  If the property catches the potential buyer(s) eye you want them to take something away with them (ie., information about the property) to reflect on later and call you about.
• Maybe your fliers/brochures do not have enough information or maybe too much information.  See the above bullet and take note; drive by some for sale properties and pull fliers/brochures.  Use them as your template when creating yours. 
• How does your price compare to your competition.  I’ve said it over and over again, price does matter.  And just because you started at A and your competition is at A does not mean 1 month after the fact prices change.  You need to keep an aggressive eye on your competition and make sure that prices don’t change and better yet your price is always more competitive than your competition.  Remember, in this market buyers ar bargain hunters.
• What type of advertising are you doing.  Remember, advertising needs to be aggressive.  One ad in your local paper or trade publication just won’t cut it.  You need online advertising such as http://www.WorldPropertiesOnline.net.  If there’s any one thing you can be assured that a buyer will do, it’s to look online first.  Online advertisements are “always” cheaper than advertising in your local paper or local trade publication - take a look at http://www.WorldPropertiesOnline.net.  Not only does it run for a longer period of time, it’s editable 24/7 and attracts a wider assortment of buyers (worldwide) - try doing that with your local newspaper or trade publication.

No one has a magic ball, but ultimately you should always be better than your competition or expect your property sit and sit and sit.  Be aggressive and start thinking like a buyer and I can’t say this enough; advertise online.

For other real estate related articles, check us out online at http://www.WorldPropertiesOnline.net. where we have a worldwide audience and we appreciate them!

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