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Wednesday, January 2, 2008
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Wednesday, January 2, 2008
Understanding Your Local Real Estate Market
Many people mistakenly rely on national trends when evaluating the real estate market. The key is to focus on and understand your local market.
Understanding Your Local Real Estate Market
The housing market is booming! The housing market is in a downturn. The housing market is expected to do go up or down over the next year. These are all statements you will hear from time to time from alleged real estate gurus on television or radio shows. Should you pay attention to these predictions? No. First, pundits are famous for getting it wrong. More importantly, these individuals are talking about national trends, not your local market. The two markets are distinctly different.
Focusing on your local real estate market is the key to evaluating real estate deals. That being said, it can be a bit tougher to evaluate since there is often less information on particular areas versus the national situation. To understand your real estate market, here are a few things to focus on.
Job growth is the fuel of many real estate markets. Where there is strong growth, there are new workers. New workers need someplace to live. A vast percentage of these people will be moving in from another area and often are bringing money from a previous home. If job growth is strong, your real estate market should be stable and showing appreciation.
New construction is another area to consider when evaluating your market. In this case, we are focusing on supply and demand. The more homes available to buyers, the harder it will be for sellers to move properties. Most communities have some new construction, but the key is to determine if it is outpacing the demand. Las Vegas, for instance, is a city that is realizing serious population increases each year. That being said, the real estate market in the summer of 2006 is very tepid because the construction of new homes has saturated the market. When evaluating your local real estate market, try to get a feel for such an issue.
A secret to evaluating your local real estate market is to look at people around you. One sign of a hot real estate market is the number of people who suddenly become real estate investors. These tend to be people using the equity in their primary home to make secondary purchases. There is no statistical analysis for this factor. Just keep an ear out for friends or neighbors who are suddenly investing in multiple properties.
Trends in the national real estate market are interesting, but often irrelevant when evaluating your local market. Focus on your area and you should be able to better evaluate whether you should sell, hold or buy properties.
Raynor James is with the site - FSBO America - FSBO homes for sale by owner.
5 Quick Steps to Landscaping Your Home Before You Sell
Your home is your most major investment. With these days of low interest rates leading to high increases in home prices you may well be either deciding to sell your home or upgrade. Homes have had the best rate of investment returns in the last number of calendar years – far outweighing such traditional investments as stocks, bonds and bank accounts.
A house is much more than that – it is the place you call home and raise your family.
If you decide that it is time to sell – perhaps you are an "empty nester" Now is an exceptional time to sell your home. Or you may just simply want to upgrade or to change.
Remember that economics is ultimately supply and demand.
The tooth is there is more demand from buyers than the supply available from sellers.
Now is an exceptional time to sell your house.
Your property may be very valuable – being in an older established neighborhood.
So ultimately in order to obtain the highest selling price what can you look for to increase your selling and asking prices as well as sell your property sooner during peak real estate sales periods . (Spring and summer for both possessions before and after the school year)
With homeowner's priorities shifting to their outdoor living spaces, it is more important than ever that your landscaping and backyard areas look their best when it comes time to sell. And with more outdoor living spaces come more elaborate and beautiful landscaping.
Studies have shown that attractive landscaping can increase the value of a home. " The Contribution of Landscaping to the Price of a Single Family Dwelling , South Carolina" pointed out not only homes with excellent landscaping sell 4 to 5 % higher , but homes with poor landscaping in neighborhoods with excellent landscaping sold for 8 to 10 % less.
The right landscape design can make all the difference to a prospective buyer, especially when it is beautifully and carefully executed. "First impressions are not only important for buyers but for appraisers and real estate agents as well." South Dakota home assessment quantifier Shinderpal Jandu says.
So how much time, effort and money should you put into "sprucing "up your landscape if you are selling?
If you put in small amount of money, time and effort into your backyard, you will sell your home and probably get enough boosts in price to warrant the work. However, if you do extensive landscaping, you can consider it money spent for personal enjoyment not as a payback investment... It will certainly help you to sell your home faster, it may allow you to sell your house without needing a real estate agent but it will not impress buyers enough to increase the asking or selling price.
Some good suggestions to improve your landscape:
If you backyard is nothing but weeds, get a weed eater and cut the weeds.
Remove unsightly trees – too tall, large or inappropriate. Ensure though that you can dispose of the remains both easily, with little cost and legally.
Plant trees that will not grow to large. Fruit trees are always a good choice for a backyard
Plant low level flowers and shrubs on your lot.
_ Make sure that your back yard as well as the front is clean neat and livable.
- If there is fence make sure that it is reasonable shape if possible. A fresh coat of paint will always help to improve the value of first impressions as well as hide a multitude of sins.
Remember it is not just your house but your home and biggest lifetime investment . When you prepare to sell your house pay attention to your landscaping. Simple proper steps to landscaping can both enhance the selling price of your home and make it easier and quicker to sell.
Real Estate Blogging
Copyright 2006 Tim OKeefe
With the expansive power of the internet, many realtors are using blogs as a way to communicate with the population. A weblog, or more commonly a blog, allows nearly anyone with internet access the ability to post written entries. For some, blogs are used as more of a diary but, for many in the business world a blog is a way to communicate industry news and updates. Realtor blogs are used for many purposes and allow the realtors to truly express themselves in their own individual manner while conveying important real estate information. Blogging can cover a range of topics and can change day by day.
Realtor blogs can attract a diverse population of home buyers, home sellers, real estate investors, other realtors and real estate agents, as well as all types of industry professionals. People may turn to a realtor blog for tips and advice or just to stay up to date on real estate industry news. When readers find a blog they like, they often bookmark the site and make reading the blog a part of their regular routine.
Many realtors blog about real estate market trends. The realtor may be commenting on recent statistics or forecasting upcoming sales trends. These blogs serve as useful advice for industry professionals and potential home buyers and sellers. There are also realtors that blog about real estate news, informing and remarking on topics such as new laws and business ventures.
People also read realtor blogs to find out about new home communities. People can check these blogs to find out about new homes for sale and to get information on the communities and neighborhoods. A realtor might highlight a certain property for sale in their blog because of the opportunity to be more descriptive about the house and neighborhood. Realtors and industry professionals can turn to blogs for advice from industry experts.
Real estate agents can learn new sales and real estate marketing tips based on success stories from fellow realtors. Prospective home buyers and sellers can also gain valuable advice from these blogs about the home buying and selling process. The nature of a blog leaves the door open for these and many more topics to write about. Realtors can write in a conversational style so they can really express themselves to their clients and the public. This method is a great way for real estate agents to connect with potential clients and it is very beneficial resource for the readers. Blogging should play an increasingly larger role in the web presence and communication of realtors.
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Tim O'Keefe is President of Spider Juice Technologies and offers tips and advice for the online real estate professional. Get his Coaching at http://www.realestateguerilla.com/
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