If you haven’t owned a home in the past 3 years, I advise you to consider getting back into home ownership. With the 1st Time Homebuyer Credit at $8,000, interest rates at an historic low and am ample selection of homes to choose from combined with motivated sellers there may not ever be a better time to buy.
The homebuyer’s credit is available on purchases made from January 1, 2009 to November 30, 2009 and actually reduces the amount of taxes due by the amount of the credit. If you owe less in taxes than the credit, you will receive a check for the difference. Many people don’t realize they are eligible for this credit or what the details are. If you would like me to send you a copy of NAR’s frequently asked questions guide, please call or email.
Daryl Weatherman, long time lake area builder and developer has recently chosen me to market his newest development, Pointe Royale Resort Community. Located at the 3.5 mile marker of the Big Niangua and on State Route EE at Greenview, this development is perfectly situated to take advantage of quiet water and roads but is just minutes to activities, dining and shopping.
Daryl has secured 4.875% 30 year fixed rate financing with NO points for buyers. Take advantage of this along with the 1st Time Homebuyer Credit and you’ll have a great value! Prices range from $128,900 to $192,850 for 2 and 3 bedrooms units. The quality of construction provides low maintenance, excellent sound proofing and fine upscale details usually found in higher end custom homes.
I’ll be glad to send you a full information packet for Pointe Royale or you can stop by the decorator model 10 a.m. to 4 p.m., 7 days a week. For a virtual tourvisit us 24/7 at www.PointeRoyaleCondominiums.com
If you would like a detailed sales report on your specific property type or neighborhood, or would like to ask a lake real estate question, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com View all lake area listings at www.cme1st.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Tuesday, July 7, 2009
Monday, March 16, 2009
STATE OF THE LAKE ADDRESS
I am writing this on the day that President Obama will give an address in front of Congress with heavy emphasis on the economy. The White House Press Secretary has stated that he feels the President will discuss restoring to Washington a sense of fiscal responsibility and understanding that we have to live within our means. We currently have a $1.3 Trillion annual budget deficit.
This speech follows a week after the signing of a $787 Billion stimulus bill. It comes at a time polls indicate that nearly three out of four Americans are scared about the way things are going in this country. The stock market closed yesterday at it’s lowest since 1997.
Well, how’s that for a rosy picture? Add to that, the decrease in homes sales over the past 3 years at Lake of the Ozarks and you may wonder if it is a wise choice to buy a home at the Lake.
My answer is a resounding YES. While the number of homes sold has fallen, property values have held steady. The key to purchasing is to have full knowledge of what is happening in the Lake market. You should still base your purchase on what your and your family’s needs are in a home and on your budget. From there you need to research the neighborhood, property condition, what similar properties have been selling for as well what trends the market data has shown over the previous 3-5 years.
If you are looking to purchase based solely on investment, there are some decent buys out there. While the number of foreclosures is less than 5% of all homes currently available through the Bagnell Dam and Lake of the Ozarks Multiple Listing Service, they do exist and some present a great opportunity. I am also seeing some short sale situations. Again, whether you are on the buying or selling end, knowledge of the market is crucial and hiring a real estate agent that is experienced and educated in these matters will prove to be well worth the fee you’ll pay.
Lake of the Ozarks is constantly moving forward. MODOT is progressing with the by-pass and other surrounding road improvements that make us easily accessible from all directions and simple to navigate while here. New commercial projects continue all over the lake area which will open new jobs and increase our visitors. All of this will reflect positively on the lake’s economy and, in turn, our real estate values.
If you would like a detailed sales report on your specific property type or neighborhood, or would like to ask a lake real estate question, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com View all lake area listings at www.cme1st.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
This speech follows a week after the signing of a $787 Billion stimulus bill. It comes at a time polls indicate that nearly three out of four Americans are scared about the way things are going in this country. The stock market closed yesterday at it’s lowest since 1997.
Well, how’s that for a rosy picture? Add to that, the decrease in homes sales over the past 3 years at Lake of the Ozarks and you may wonder if it is a wise choice to buy a home at the Lake.
My answer is a resounding YES. While the number of homes sold has fallen, property values have held steady. The key to purchasing is to have full knowledge of what is happening in the Lake market. You should still base your purchase on what your and your family’s needs are in a home and on your budget. From there you need to research the neighborhood, property condition, what similar properties have been selling for as well what trends the market data has shown over the previous 3-5 years.
If you are looking to purchase based solely on investment, there are some decent buys out there. While the number of foreclosures is less than 5% of all homes currently available through the Bagnell Dam and Lake of the Ozarks Multiple Listing Service, they do exist and some present a great opportunity. I am also seeing some short sale situations. Again, whether you are on the buying or selling end, knowledge of the market is crucial and hiring a real estate agent that is experienced and educated in these matters will prove to be well worth the fee you’ll pay.
Lake of the Ozarks is constantly moving forward. MODOT is progressing with the by-pass and other surrounding road improvements that make us easily accessible from all directions and simple to navigate while here. New commercial projects continue all over the lake area which will open new jobs and increase our visitors. All of this will reflect positively on the lake’s economy and, in turn, our real estate values.
If you would like a detailed sales report on your specific property type or neighborhood, or would like to ask a lake real estate question, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com View all lake area listings at www.cme1st.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Tuesday, February 3, 2009
Great Time to Buy a Vacation Home
Lower prices and less competition are the tip of the iceberg-sized list of factors that make it a good time to consider a vacation home purchase.
According to statistics from the Bagnell Dam Association of Realtors Multiple Listing System, in 2007 1,604 homes sold for a total sales volume of $387 million. In 2008 1,153 homes sold with a total volume of $262 million. 2007 Condos sales totaled 815 at $161 million, average sales price was $198,638. 2008 condo sales totaled 559 at $110 million, average sales price was $197,224. In 2007, 734 lakefront homes sold for a total of $268 million and average sales price of $366,302. 2008 lakefront homes totaled 504 at $178 million and $353,590 average sales price.
While the number of properties sold is down considerably, values are remaining reasonably steady. A host of market conditions have converged to make buying a second home a smart move right about now.
Stock market woes have always pushed people to look for alternate investments, and real estate is a consistent stronghold. Home sales are down right now but they have always rebounded. I wouldn't recommend buying a second home with the expectation of flipping it for a quick buck, but if you hang onto it for a while -- and better still, turn it into a vacation rental property -- you'll make a nice profit.
Interest rates are cooperating. As of the writing of this article, 30 year fixed rates are averaging 4.96%. The rate hasn't been lower since Freddie Mac started surveying these averages in 1971. Rates have been reasonably low for awhile, following earlier rate cuts last year toward the beginning of the year. That's good news for anyone who's in the market for a mortgage.
The pressure of bidding wars is off. Housing bubble or no housing bubble, you're not going to get bargain basement prices on a lakefront home or condo but because houses aren't flying off the shelf, there's less pressure on you to make a quick decision. You can afford to take your time, do your research, and refine your plan.
Vacation rental demand is on. Economic pressures on travel budgets are forcing those who once traveled abroad to stick closer to home. To further save travel dollars, domestic travelers want the most bang for their getaway bucks. Vacation homes provide all the comforts and options of home (eating in, game rooms, wireless access, etc.), often at a per-person rate that's cheaper than a hotel.
A vacation home can pay for itself. If your monthly mortgage payment is less than or equal to one peak week rental, twelve weeks of rental will cover your mortgage payments for the entire year. Other costs, including bills for your phone, power, cable, and association dues, may be paid out of your earnings from approximately five off-week rentals.
The calculations don't consider the added cost of a property manger you may need if you are not a do-it-yourselfer.
Despite the convergence of positive factors pointing to an opportunity to buy a second or vacations home, the fundamentals still apply. Strong credit, low debt, high savings and other assets are a plus.
If you have strong credit, you can find a lender who'll work with you. Also, don't rush into a decision. It's more important to take your time, make sure the property is right for you.
For more information or to ask lake real estatequestions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com View all lake area listings at www.cme1st.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
According to statistics from the Bagnell Dam Association of Realtors Multiple Listing System, in 2007 1,604 homes sold for a total sales volume of $387 million. In 2008 1,153 homes sold with a total volume of $262 million. 2007 Condos sales totaled 815 at $161 million, average sales price was $198,638. 2008 condo sales totaled 559 at $110 million, average sales price was $197,224. In 2007, 734 lakefront homes sold for a total of $268 million and average sales price of $366,302. 2008 lakefront homes totaled 504 at $178 million and $353,590 average sales price.
While the number of properties sold is down considerably, values are remaining reasonably steady. A host of market conditions have converged to make buying a second home a smart move right about now.
Stock market woes have always pushed people to look for alternate investments, and real estate is a consistent stronghold. Home sales are down right now but they have always rebounded. I wouldn't recommend buying a second home with the expectation of flipping it for a quick buck, but if you hang onto it for a while -- and better still, turn it into a vacation rental property -- you'll make a nice profit.
Interest rates are cooperating. As of the writing of this article, 30 year fixed rates are averaging 4.96%. The rate hasn't been lower since Freddie Mac started surveying these averages in 1971. Rates have been reasonably low for awhile, following earlier rate cuts last year toward the beginning of the year. That's good news for anyone who's in the market for a mortgage.
The pressure of bidding wars is off. Housing bubble or no housing bubble, you're not going to get bargain basement prices on a lakefront home or condo but because houses aren't flying off the shelf, there's less pressure on you to make a quick decision. You can afford to take your time, do your research, and refine your plan.
Vacation rental demand is on. Economic pressures on travel budgets are forcing those who once traveled abroad to stick closer to home. To further save travel dollars, domestic travelers want the most bang for their getaway bucks. Vacation homes provide all the comforts and options of home (eating in, game rooms, wireless access, etc.), often at a per-person rate that's cheaper than a hotel.
A vacation home can pay for itself. If your monthly mortgage payment is less than or equal to one peak week rental, twelve weeks of rental will cover your mortgage payments for the entire year. Other costs, including bills for your phone, power, cable, and association dues, may be paid out of your earnings from approximately five off-week rentals.
The calculations don't consider the added cost of a property manger you may need if you are not a do-it-yourselfer.
Despite the convergence of positive factors pointing to an opportunity to buy a second or vacations home, the fundamentals still apply. Strong credit, low debt, high savings and other assets are a plus.
If you have strong credit, you can find a lender who'll work with you. Also, don't rush into a decision. It's more important to take your time, make sure the property is right for you.
For more information or to ask lake real estatequestions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com View all lake area listings at www.cme1st.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Monday, December 29, 2008
Real Estate Outlook: Rates Drop
If low-cost mortgage money and property prices provide the fuel to power strong housing sales, we just might be on the verge of a takeoff, at least a modest one.
In a month that otherwise was filled with sobering economic numbers -- new construction starts down sharply, unemployment filings up, retail spending down -- mortgage rates provided a ray of hope for real estate in the months ahead.
The Federal Reserve's unprecedented moves to reduce inter-bank lending rates close to zero, and to pump even more capital into mortgage backed securities, had immediate, dramatic effects in the market.
Rates had already begun falling from about five and a half percent early in December down to 5.19 percent in the last week for 30 year fixed-rate loans, according to the Mortgage Bankers Association.
But the Fed's latest moves sent rates plummeting even lower. Some major banks, such as Wells Fargo, were quoting 30-year mortgages in the upper fours -- rates not seen in more than half a century.
Wells, Wachovia and other banks also cut their prime rates -- crucial to millions of consumers who have home equity credit lines and credit cards -- to three and a quarter percent from four.
But here's the big unanswered question: What impact will mortgage money at historic lows have on local real estate markets in a recession with rising unemployment?
Lawrence Yun, chief economist for the National Association of Realtors, has estimated that 500,000 resales could be stimulated by a one point drop in rates like we've just seen.
The reason: He believes that, even with higher unemployment, there is a huge pent up demand to buy houses in many parts of the country -- especially first time purchasers who see prices at 2003 and 2004 levels.
Combine those bargain prices with rock bottom mortgage rates, and the real issue for thousands of potential buyers in the coming months may well be: What are you waiting for? This is about as good as it gets!
Already there are signs of sharp sales increases in dozens of markets where foreclosures, REO and short sales dominate local real estate listings.
As perhaps an extreme example, the single hardest hit market of the decade in the U.S. -- Detroit -- which has been the epicenter of a regional economic downturn for years, has racked up a 47 percent increase in home sales this year, compared with 2007.
No doubt a lot of those sales were REO. But think about it: How else can the turnaround process begin?
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
In a month that otherwise was filled with sobering economic numbers -- new construction starts down sharply, unemployment filings up, retail spending down -- mortgage rates provided a ray of hope for real estate in the months ahead.
The Federal Reserve's unprecedented moves to reduce inter-bank lending rates close to zero, and to pump even more capital into mortgage backed securities, had immediate, dramatic effects in the market.
Rates had already begun falling from about five and a half percent early in December down to 5.19 percent in the last week for 30 year fixed-rate loans, according to the Mortgage Bankers Association.
But the Fed's latest moves sent rates plummeting even lower. Some major banks, such as Wells Fargo, were quoting 30-year mortgages in the upper fours -- rates not seen in more than half a century.
Wells, Wachovia and other banks also cut their prime rates -- crucial to millions of consumers who have home equity credit lines and credit cards -- to three and a quarter percent from four.
But here's the big unanswered question: What impact will mortgage money at historic lows have on local real estate markets in a recession with rising unemployment?
Lawrence Yun, chief economist for the National Association of Realtors, has estimated that 500,000 resales could be stimulated by a one point drop in rates like we've just seen.
The reason: He believes that, even with higher unemployment, there is a huge pent up demand to buy houses in many parts of the country -- especially first time purchasers who see prices at 2003 and 2004 levels.
Combine those bargain prices with rock bottom mortgage rates, and the real issue for thousands of potential buyers in the coming months may well be: What are you waiting for? This is about as good as it gets!
Already there are signs of sharp sales increases in dozens of markets where foreclosures, REO and short sales dominate local real estate listings.
As perhaps an extreme example, the single hardest hit market of the decade in the U.S. -- Detroit -- which has been the epicenter of a regional economic downturn for years, has racked up a 47 percent increase in home sales this year, compared with 2007.
No doubt a lot of those sales were REO. But think about it: How else can the turnaround process begin?
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Real Estate Outlook: Sales Picking Up Tempo
Here's a key question about the current market: Do you look at home prices to figure out where we are in the real estate recovery cycle, or do you focus on sales?
In an economy where an estimated 35 to 40 percent of all home transactions are foreclosures or short sales - distress situations in other words -- prices won't really guide you much beyond the conclusion that: We're still "correcting” the excesses of the boom years, still peeling back those wild and unsustainable hyperinflationary price run ups.
So it's no surprise that median prices are down, year to year, in a majority of large markets across the country.
Sales statistics, on the other hand, tell you how fast buyers are responding to those lower prices -- and greatly improved affordability. Right now, in market after market, sales are picking up tempo -- especially in places where prices once spiraled out of control.
Third quarter sales of existing homes in the U.S. were up by 2.6 percent over second quarter 2008 levels, according to the National Association of Realtors' latest study.
That's not spectacular -- but let's face it: It's forward movement … and we're in a recession.
In the Western states, sales were up by 13.1 percent in the third quarter! In Florida, sales jumped by 5 percent from year earlier levels, while median selling prices were down by 20 percent. In a majority of Florida's metropolitan markets, sales were up, year over year. For example, Orlando sales were 10 percent higher this October than the year before. Sales were up strongly as well in hard-hit Ft. Myers and much of the west coast of the state, and Fort Lauderdale, north of Miami. Similar recent upturns in sales are occurring in many of the California markets where prices have plummeted during the past two years.
No question that a high proportion of these sales are distress situations. But that's what the bottom of a real estate cycle looks like: Value-savvy buyers see the opportunities, move in and mop up the mess left over after the big party. Happily, in this cycle, they're getting real help from the capital markets: Mortgage money is at historically-attractive low levels, and is readily available to anyone with a downpayment and reasonable credit.
Rates fell again last week to an average 6.16 percent for 30-year fixed loans, according to the Mortgage Bankers Association, and to 5.87 percent on average for 15 year loans.
If you can spot the opportunities -- and have the resources -- it's not a bad time to be a buyer.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
In an economy where an estimated 35 to 40 percent of all home transactions are foreclosures or short sales - distress situations in other words -- prices won't really guide you much beyond the conclusion that: We're still "correcting” the excesses of the boom years, still peeling back those wild and unsustainable hyperinflationary price run ups.
So it's no surprise that median prices are down, year to year, in a majority of large markets across the country.
Sales statistics, on the other hand, tell you how fast buyers are responding to those lower prices -- and greatly improved affordability. Right now, in market after market, sales are picking up tempo -- especially in places where prices once spiraled out of control.
Third quarter sales of existing homes in the U.S. were up by 2.6 percent over second quarter 2008 levels, according to the National Association of Realtors' latest study.
That's not spectacular -- but let's face it: It's forward movement … and we're in a recession.
In the Western states, sales were up by 13.1 percent in the third quarter! In Florida, sales jumped by 5 percent from year earlier levels, while median selling prices were down by 20 percent. In a majority of Florida's metropolitan markets, sales were up, year over year. For example, Orlando sales were 10 percent higher this October than the year before. Sales were up strongly as well in hard-hit Ft. Myers and much of the west coast of the state, and Fort Lauderdale, north of Miami. Similar recent upturns in sales are occurring in many of the California markets where prices have plummeted during the past two years.
No question that a high proportion of these sales are distress situations. But that's what the bottom of a real estate cycle looks like: Value-savvy buyers see the opportunities, move in and mop up the mess left over after the big party. Happily, in this cycle, they're getting real help from the capital markets: Mortgage money is at historically-attractive low levels, and is readily available to anyone with a downpayment and reasonable credit.
Rates fell again last week to an average 6.16 percent for 30-year fixed loans, according to the Mortgage Bankers Association, and to 5.87 percent on average for 15 year loans.
If you can spot the opportunities -- and have the resources -- it's not a bad time to be a buyer.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
RECESSION NOT ALL GLOOM AND DOOM
RECESSION NOT ALL GLOOM AND DOOM
The "R" word is back -- and this time economists ranging from former Fed chairman Alan Greenspan to the National Association of Realtors' Lawrence Yun agree that we're likely to be dealing with a declining economy for months to come. The U.S. has entered a recession," said Yun in his latest forecast, "and (the economy) will contract for the next three quarters."
Certainly the sobering reports we're seeing on retail sales point in that direction, and the stock market's sharp declines over the past few weeks suggest that investors are betting we're in a recession as well. But are all recessions always horrible times for real estate and home sales? You might be surprised to find that as long as mortgage money remains available, and home prices are affordable, real estate sometimes can weather recessions better than other segments of the economy.
Take the last national recession we experienced -- back in the years 2001 to 2003. Regional economies went flat or declined, consumer spending spiraled down, and nearly two million jobs were lost. Times were tough for a lot of families -- no question about it. But the vast majority of households kept their jobs, and people needed houses.
Sales of existing homes actually ran counter to the overall economic trends during that recession, with total sales rising from 5.2 million in 2001 to 6.2 million in 2003, according to National Association of Realtors data. Even sales of newly-constructed homes rose during that recession as well -- from 900,000 to 1.1 million.
Now, no one can be confident that the same countercyclical pattern will occur in a short, relatively shallow recession this time around. But some building blocks are in place: First, mortgage rates are lower than they were during 2001, 2002 and most of 2003. Lenders working through FHA, Fannie Mae and Freddie Mac have direct, federally-backed access to the capital markets.
Second, a $7,500 home buyer tax credit is already in place to provide an extra incentive to get potential purchasers off the sidelines, plus there are legislative stimulus package efforts in the works to increase the size of that credit, and extend it.
Finally, home prices in many local markets have corrected back to levels not seen since 2003 and 2004.
Combined with affordable mortgage money and unquestioned pent-up demand, housing's performance might -- just might -- surprise a lot of people who assume recessions are necessarily all bad, all the time.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
The "R" word is back -- and this time economists ranging from former Fed chairman Alan Greenspan to the National Association of Realtors' Lawrence Yun agree that we're likely to be dealing with a declining economy for months to come. The U.S. has entered a recession," said Yun in his latest forecast, "and (the economy) will contract for the next three quarters."
Certainly the sobering reports we're seeing on retail sales point in that direction, and the stock market's sharp declines over the past few weeks suggest that investors are betting we're in a recession as well. But are all recessions always horrible times for real estate and home sales? You might be surprised to find that as long as mortgage money remains available, and home prices are affordable, real estate sometimes can weather recessions better than other segments of the economy.
Take the last national recession we experienced -- back in the years 2001 to 2003. Regional economies went flat or declined, consumer spending spiraled down, and nearly two million jobs were lost. Times were tough for a lot of families -- no question about it. But the vast majority of households kept their jobs, and people needed houses.
Sales of existing homes actually ran counter to the overall economic trends during that recession, with total sales rising from 5.2 million in 2001 to 6.2 million in 2003, according to National Association of Realtors data. Even sales of newly-constructed homes rose during that recession as well -- from 900,000 to 1.1 million.
Now, no one can be confident that the same countercyclical pattern will occur in a short, relatively shallow recession this time around. But some building blocks are in place: First, mortgage rates are lower than they were during 2001, 2002 and most of 2003. Lenders working through FHA, Fannie Mae and Freddie Mac have direct, federally-backed access to the capital markets.
Second, a $7,500 home buyer tax credit is already in place to provide an extra incentive to get potential purchasers off the sidelines, plus there are legislative stimulus package efforts in the works to increase the size of that credit, and extend it.
Finally, home prices in many local markets have corrected back to levels not seen since 2003 and 2004.
Combined with affordable mortgage money and unquestioned pent-up demand, housing's performance might -- just might -- surprise a lot of people who assume recessions are necessarily all bad, all the time.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Selling Your Home in Todays Market
Selling Your Home in Today's Market: The media has been full of stories about the slowing housing market --and although this kind of market normalization is commonplace in the real estate industry, there is no question that in many parts of the country, houses are currently on the market a little longer and there is more competition for buyers.
Hire a Professional: If you want to sell your home, now is not the time to go it alone or possibly even worse; choose an agent based solely on their personal relationship to you. You want to make sure that your home gets the maximum exposure and the best marketing strategy. When you work with an experienced, knowledgeable real estate professional, not only is your home listed on the MLS database that other real estate agents can access your agent should also market your home to Lake area agents to make it stand out from competing houses. In addition, you get the benefit of an experienced marketer and negotiator who is familiar with real estate issues at Lake of the Ozarks.
When selecting someone to represent you, interview at least three real estate professionals who are familiar with your area. Ask questions such as: How will your home be marketed to reach the greatest number of buyers? Ask to see examples of their ongoing marketing campaigns both for individual listings as well as their overall strategy for obtaining a constant supply of prospective buyers who are looking for their ideal lake property. They should have an extensive client base already in place to whom they can immediately present your home. Ask what price can you expect for your home? A knowledgeable agent should be able to back up their answer with a report of recent sales and current listings in your particular neighborhood. Ask what's the average time their listings have been on the market? What is their sales track record? How many years of experience do they have in Lake of the Ozarks Real Estate and are they a full time real estate career professional? Ask them to provide the names of two or three of their most recent sellers who you may contact for a reference.
Price It Right: A correctly price house piques the interest of real estate professionals and buyers, while overpricing chases them away. If your home is priced too high, interested buyers may never even look at your home. It is true that you can always drop the price, but the first 30 days are the most critical. That is when interest is the highest, and it can be difficult to recapture people's interest later on. The longer the property is on the market, the fewer the prospects and in general, the lower the sales price at closing.
Who’s representing you at the negotiating table? Michael Elliott has been a full time real estate career professional since 1981. He is a Broker/Owner at Gattermeir Elliott Real Estate Company. Michael has assisted hundreds of buyers and sellers over the years. His largest source of business is from returning clients and referrals of their friends and family. His largest source of new business is derived from his unique and extensive marketing campaign.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Hire a Professional: If you want to sell your home, now is not the time to go it alone or possibly even worse; choose an agent based solely on their personal relationship to you. You want to make sure that your home gets the maximum exposure and the best marketing strategy. When you work with an experienced, knowledgeable real estate professional, not only is your home listed on the MLS database that other real estate agents can access your agent should also market your home to Lake area agents to make it stand out from competing houses. In addition, you get the benefit of an experienced marketer and negotiator who is familiar with real estate issues at Lake of the Ozarks.
When selecting someone to represent you, interview at least three real estate professionals who are familiar with your area. Ask questions such as: How will your home be marketed to reach the greatest number of buyers? Ask to see examples of their ongoing marketing campaigns both for individual listings as well as their overall strategy for obtaining a constant supply of prospective buyers who are looking for their ideal lake property. They should have an extensive client base already in place to whom they can immediately present your home. Ask what price can you expect for your home? A knowledgeable agent should be able to back up their answer with a report of recent sales and current listings in your particular neighborhood. Ask what's the average time their listings have been on the market? What is their sales track record? How many years of experience do they have in Lake of the Ozarks Real Estate and are they a full time real estate career professional? Ask them to provide the names of two or three of their most recent sellers who you may contact for a reference.
Price It Right: A correctly price house piques the interest of real estate professionals and buyers, while overpricing chases them away. If your home is priced too high, interested buyers may never even look at your home. It is true that you can always drop the price, but the first 30 days are the most critical. That is when interest is the highest, and it can be difficult to recapture people's interest later on. The longer the property is on the market, the fewer the prospects and in general, the lower the sales price at closing.
Who’s representing you at the negotiating table? Michael Elliott has been a full time real estate career professional since 1981. He is a Broker/Owner at Gattermeir Elliott Real Estate Company. Michael has assisted hundreds of buyers and sellers over the years. His largest source of business is from returning clients and referrals of their friends and family. His largest source of new business is derived from his unique and extensive marketing campaign.
For more information or to ask lake real estate questions, contact Michael at 877.365.cme1 (2631) or cme@yourlake.com You can also log your opinions on Michael’s real estate blog, www.AsTheLakeChurns.com
Subscribe to:
Posts (Atom)