HomeXperts Inc.(HXI), a leading developer and integrator of online applications for real estate consumers and professionals will announce within a few days the launching of www.byownerhomes.com/. The Company will offer “For Sale By Owner” services throughout the United States territories including Puerto Rico.
ByOwnerHomes business model will offer Independent Sellers a wide range of choices and tools to market and sell properties in an effective, efficient and economical manner.
1.Properties will receive unparalleled local, national and worldwide exposure including their own web site. ByOwner believes that all properties are different and thus requiring a very specific marketing approach. What works in some areas may not work in others. ByOwner goal is to develop an advertising campaign to expose properties to as many potential buyers as possible.
2.ByOwnerHomes is committed to get the news out fast and within 24 hours homes will be listed in the most visited sites worldwide. Time is of the essence. It is not a secret that at least 80% of the buyers use the Internet to search for a home. Therefore, the Company's goal is to launch an ad campaign within 24 hours after receiving all the pertinent information about the property.
3.ByOwnerHomes.com is more than a web site ---Customers can always contact a ByOwnerHomes.com specialist. The Company does not hide behind a web site. As a matter of fact, the Company welcomes customers to visit its facilities and talk to its people. But if customers prefer, they can contact the Company's real estate specialists by phone or email. A ByOwnerHomes.com specialist will answer all questions on the process of selling a home, the benefits of the different marketing programs, places where homeowners can find price guidance, paperwork, closings, title insurance, and many other related topics.
4. ByOwnerHomes.com takes every step to make sure customers are 100% satisfied. The Company offers a offer 100% Money Back Guarantee when a homeowner purchases any of its listing programs. If at any time a customer decides to list with a full service agency, ByOwnerHomes.com will refer the customer to one of its Network Realtors or a Realtor of the customer's choice. After closing, the Company will refund the owner 100% of the listing fee.
Additional details can be found at the company's website www.byownerhomes.com/ or at www.homekeys.net/.
The Latest News in Real Estate Featuring News on Homes for Sale, Homes for Rent, Selling a Home, and Much More!
Tuesday, March 18, 2008
Sunday, March 16, 2008
Do you have friends in real estate? Do they give you back 75% of their commission?
Our President Manuel Iraola was recently asked to comment of Homekeys' rebate policy and this is what he said.
"Most people have friends in real estate. Have you asked any of your friends in real estate if they are willing to give you back up to 75% of their commission in cash at the time of the closing?
At Homekeys, we do.
"Most people have friends in real estate. Have you asked any of your friends in real estate if they are willing to give you back up to 75% of their commission in cash at the time of the closing?
At Homekeys, we do.
- Why do we do it ? Because in today's environment the consumers are doing a lot of the work traditonally performed by traditional agents.
- How do we do it? Technology allows us to achieve economies of scale and this means that we can be more effectiove, productive and efficient. We use technology for the benefit of our clients thus enabling them to buy/sell cheaper,faster easier and smarter.
Bottom line, our transaction costs are lower and this enables us to give you back up to 75% of our commission in cash at time of closing."
For additional details vist www.homekeys.net
Tuesday, March 04, 2008
Ad Campaigns Target Buyers of Real Estate
Real estate brokerage firms are launching ad campaigns that promote low mortgage interest rates, improving affordability, and the availaibilty of home loans. "Think you can't get a home loan?" some ads state. "Well, think again. You may be pleasantly surprised."
Another frequen message states, "Now is the time to make your move. If a home purchase is in your future plans, now may very well be the time to act. There is ample inventory on the market for you to capture that 'dream' home you've always wanted at a price and terms you can handle. But don't wait too long, because another qualified buyer may capture it first."
The battle is on to kick consumers off the fence and back into spending mode. And it could be an uphill battle, with news piling on of a possible recession, Wall St. losses and layoffs, and declining home prices.
Bottom line, there is not such a thing as a right time or a bad time as long as you buy for the right reasons. See www.homekeys.net for details on the richest cash rebate to buyers of real estate in Florida ---75% of our commission.
Another frequen message states, "Now is the time to make your move. If a home purchase is in your future plans, now may very well be the time to act. There is ample inventory on the market for you to capture that 'dream' home you've always wanted at a price and terms you can handle. But don't wait too long, because another qualified buyer may capture it first."
The battle is on to kick consumers off the fence and back into spending mode. And it could be an uphill battle, with news piling on of a possible recession, Wall St. losses and layoffs, and declining home prices.
Bottom line, there is not such a thing as a right time or a bad time as long as you buy for the right reasons. See www.homekeys.net for details on the richest cash rebate to buyers of real estate in Florida ---75% of our commission.
75 % Buyer Rebate in cash at closing!
With over 2 million people licensed as real estate agents in the United States it is almost a certainty that you have a realtor friend that can help you buy and sell. Are your friends willing to give you back 75% of their commission in cash at the time of closing?
At www.homekeys.net, we do.
At www.homekeys.net, we do.
Lease Option may be the way for many home buyers
Often the biggest obstacle to becoming a homeowner is coming up with enough cash for a down payment. One way for cash-strapped home buyers to realize their dream is to lease a home with an option to buy.
Here's how a lease option works. The buyer (called an optionee) leases the property from the seller (called an optionor) for a period of time. The lease contract gives the optionee the right to buy the property at the end of the lease period, or earlier by mutual agreement, at a price agreed upon in the contract.
The optionee pays a sum, called option money, to the seller at the onset of the lease. This money is applied to the purchase price if the option is exercised. The option money is forfeited to the seller if the optionee doesn't go through with the purchase.
Like any contract, the terms of a lease option are negotiable: the length of the lease, the amount of the option money, the purchase price and the rent. Sometimes, a seller will agree to credit a portion of the rent toward the purchase, providing an additional incentive for the buyer to go through with the purchase.
Even though the amount of the option money is negotiable, it's usually less than the down payment amount required to purchase an equivalent property. So, for relatively little upfront cash, a lease option allows the buyer to tie up a property at today's prices, and live in it before deciding to buy it. During the lease period, the seller cannot sell the property to another buyer.
And remember, http://www.homekeys.net/ buyers receive a cash rebate of up to 75% of our commission at closing. This can be the difference. Visit http://www.homekeys.net/ for details.
Here's how a lease option works. The buyer (called an optionee) leases the property from the seller (called an optionor) for a period of time. The lease contract gives the optionee the right to buy the property at the end of the lease period, or earlier by mutual agreement, at a price agreed upon in the contract.
The optionee pays a sum, called option money, to the seller at the onset of the lease. This money is applied to the purchase price if the option is exercised. The option money is forfeited to the seller if the optionee doesn't go through with the purchase.
Like any contract, the terms of a lease option are negotiable: the length of the lease, the amount of the option money, the purchase price and the rent. Sometimes, a seller will agree to credit a portion of the rent toward the purchase, providing an additional incentive for the buyer to go through with the purchase.
Even though the amount of the option money is negotiable, it's usually less than the down payment amount required to purchase an equivalent property. So, for relatively little upfront cash, a lease option allows the buyer to tie up a property at today's prices, and live in it before deciding to buy it. During the lease period, the seller cannot sell the property to another buyer.
And remember, http://www.homekeys.net/ buyers receive a cash rebate of up to 75% of our commission at closing. This can be the difference. Visit http://www.homekeys.net/ for details.
Thursday, February 28, 2008
Better-trained Realtors keep buyers safe
By Manuel J. Iraola
I enjoyed Michael Miller’s timely article “Realtors insist ethics missing” (Feb. 4) at a time when our country is facing one of the most difficult real estate crises.There is no doubt many buyers — first-time or otherwise — lack the fundamental knowledge of basic finance. However, it is the moral, ethical and legal responsibility of the so-called experts in transacting real estate to protect the rights of the stakeholders involved in the process.Yes, the lending institutions failed by placing their own economic interest ahead of shareholders and borrowers. These institutions are the same that irresponsibly provided financing to developers and contractors to overbuild our communities.And, obviously, this same group provided the financing to many who should never have purchased. Bottom line: Record number of foreclosures and write-offs, and hundreds of thousands in many industries associated with real estate will now join the ranks of the unemployed. The industry system of “checks and balances” totally crashed or maybe it never existed. Our instant-gratification mentality fueled by an exuberant amount of greed has destroyed the American Dream and many of our communities.Elia Ceniceros is totally right. She said, “There’s a lot of unscrupulous and unethical agents out there that may have done that to clients, but the problem is that when the client turns around and needs the agent to help them, the agent is no longer in the business.” So true, but why are we surprised? The entry and exit barriers in our industry are among the lowest. It is easy to get in and even easier to get out. Very few Realtors have any skin in the game.Our industry has more part-timers and retirees than any other. These individuals are not committed to the long-term prosperity of the industry. When the tide is high and easy money is to be made you will find them in herds, but when the tide is low and they have to work hard for their so-called clients, they simply disappear.Most of these are there to make a quick buck and undoubtedly the means justify the ends. These individuals need to close in order to earn a commission and as such they have consistently manipulated the process to their advantage.We need to “professionalize” the Realtor’s role. This in turn should result in a significantly better-prepared Realtor and, among other things, a financially literate one. I have met many agents who do not have the slightest idea about basic finances. Immigrants are very vulnerable. Would you not think an agent could play an instrumental role in protecting them? It boils down to morals and ethics. It has nothing to do with legality. It is about time as an industry and individuals we become “socially responsible.”
MANUEL J. IRAOLA is chief executive of www.homekeys.net
I enjoyed Michael Miller’s timely article “Realtors insist ethics missing” (Feb. 4) at a time when our country is facing one of the most difficult real estate crises.There is no doubt many buyers — first-time or otherwise — lack the fundamental knowledge of basic finance. However, it is the moral, ethical and legal responsibility of the so-called experts in transacting real estate to protect the rights of the stakeholders involved in the process.Yes, the lending institutions failed by placing their own economic interest ahead of shareholders and borrowers. These institutions are the same that irresponsibly provided financing to developers and contractors to overbuild our communities.And, obviously, this same group provided the financing to many who should never have purchased. Bottom line: Record number of foreclosures and write-offs, and hundreds of thousands in many industries associated with real estate will now join the ranks of the unemployed. The industry system of “checks and balances” totally crashed or maybe it never existed. Our instant-gratification mentality fueled by an exuberant amount of greed has destroyed the American Dream and many of our communities.Elia Ceniceros is totally right. She said, “There’s a lot of unscrupulous and unethical agents out there that may have done that to clients, but the problem is that when the client turns around and needs the agent to help them, the agent is no longer in the business.” So true, but why are we surprised? The entry and exit barriers in our industry are among the lowest. It is easy to get in and even easier to get out. Very few Realtors have any skin in the game.Our industry has more part-timers and retirees than any other. These individuals are not committed to the long-term prosperity of the industry. When the tide is high and easy money is to be made you will find them in herds, but when the tide is low and they have to work hard for their so-called clients, they simply disappear.Most of these are there to make a quick buck and undoubtedly the means justify the ends. These individuals need to close in order to earn a commission and as such they have consistently manipulated the process to their advantage.We need to “professionalize” the Realtor’s role. This in turn should result in a significantly better-prepared Realtor and, among other things, a financially literate one. I have met many agents who do not have the slightest idea about basic finances. Immigrants are very vulnerable. Would you not think an agent could play an instrumental role in protecting them? It boils down to morals and ethics. It has nothing to do with legality. It is about time as an industry and individuals we become “socially responsible.”
MANUEL J. IRAOLA is chief executive of www.homekeys.net
Wednesday, February 20, 2008
Reinventing Real Estate : The Power of Disruption
“We are going to see our industry go through dramatic transformation via the Internet and consolidation of agents and companies.” – eRealty Times Columnist Dirk Zeller once said. How prophetic!
Some industry observers have adopted Harvard Business School professor Clayton Christensen’s term “disruptive technology” to explain recent developments in real estate. Though it’s easy to point to the World Wide Web and advancing technology as the main changes in real estate, that’s only part of what’s shaking things up. Essentially, the real cause of disruption is not just technology, but technology-enabled real estate consumers.
Who are these Web-enabled consumers?
According to the National Association of Realtors (NAR), more than 80 percent of homebuyers now begin their home search online. The popularity of online real estate ads surpassed newspaper property listings back in 2001, and the gap is widening. You must advertise online because your potential clients “live and die” by the Web. They just do not know any other way. And the trend will continue to grow. Just remember, these web-enabled consumers do everything online, from dating to anything you can think of.
These consumers are tech savvy. They know what they want and where to find it. And if they don’t, one of their friends will. They also want to act on their time. They resent being pressured to act. And not least important, they have been accustomed to have free and unlimited access to information in every single aspect of life and real estate is not an exception. They are willing to pay but based on the value of the services received.
So, if you believe that you can survive without the web you are committing suicide. It is not going to happen.
On the other hand, there will always be a place and time for the “face to face” contact between clients and agents. This, however, will be the exception and not the rule.
Who will survive?
Let’s face it. The consumer is always right. Moreover, they always tell you what they want. The problem is that sometimes we do not want to listen. We cannot handle change. Change hurts especially when it attacks the foundation of the business model that has existed for the last 50 plus years. Is this a generational thing? Yes to a large degree. The older you are the more difficult it is to accept that there are ways to buy and sell real estate. It is even more difficult to justify the traditional 6 plus percent commission structure. So it boils down to the efficiencies and economies of scale that only technology can deliver.
Those that have access to those technologies will survive and prosper, the others will simply become part of larger tech based real estate technology companies.
But at the end of the day, many agents will be displaced and there will be fewer agents as we know them today.
Some industry observers have adopted Harvard Business School professor Clayton Christensen’s term “disruptive technology” to explain recent developments in real estate. Though it’s easy to point to the World Wide Web and advancing technology as the main changes in real estate, that’s only part of what’s shaking things up. Essentially, the real cause of disruption is not just technology, but technology-enabled real estate consumers.
Who are these Web-enabled consumers?
According to the National Association of Realtors (NAR), more than 80 percent of homebuyers now begin their home search online. The popularity of online real estate ads surpassed newspaper property listings back in 2001, and the gap is widening. You must advertise online because your potential clients “live and die” by the Web. They just do not know any other way. And the trend will continue to grow. Just remember, these web-enabled consumers do everything online, from dating to anything you can think of.
These consumers are tech savvy. They know what they want and where to find it. And if they don’t, one of their friends will. They also want to act on their time. They resent being pressured to act. And not least important, they have been accustomed to have free and unlimited access to information in every single aspect of life and real estate is not an exception. They are willing to pay but based on the value of the services received.
So, if you believe that you can survive without the web you are committing suicide. It is not going to happen.
On the other hand, there will always be a place and time for the “face to face” contact between clients and agents. This, however, will be the exception and not the rule.
Who will survive?
Let’s face it. The consumer is always right. Moreover, they always tell you what they want. The problem is that sometimes we do not want to listen. We cannot handle change. Change hurts especially when it attacks the foundation of the business model that has existed for the last 50 plus years. Is this a generational thing? Yes to a large degree. The older you are the more difficult it is to accept that there are ways to buy and sell real estate. It is even more difficult to justify the traditional 6 plus percent commission structure. So it boils down to the efficiencies and economies of scale that only technology can deliver.
Those that have access to those technologies will survive and prosper, the others will simply become part of larger tech based real estate technology companies.
But at the end of the day, many agents will be displaced and there will be fewer agents as we know them today.
What do you think? Please visit http://www.homekeys.net/ and give us your comments.
Tomorrow's topic : Displacement
Tip # 9 For First Time Buyers
Tip 9: Begin with the end in mind
Author Stephen Covey’s advice for effective living also applies to effective home buying. Resale may not your primary consideration, but it’s an important factor. Can you buy in an up-and-coming neighborhood or region? How is the “commutability” from your new home to local employers? How good are the local schools? A few queries to your favorite search engine will turn up free or inexpensive school rating services. Also be on the lookout for outdated features when you buy. If the those small closets and harvest gold appliances seem out of step now, you can bet that they won’t look any better to prospective buyers in a few years.
Visit us at http://www.homekeys.net/ for details.
Author Stephen Covey’s advice for effective living also applies to effective home buying. Resale may not your primary consideration, but it’s an important factor. Can you buy in an up-and-coming neighborhood or region? How is the “commutability” from your new home to local employers? How good are the local schools? A few queries to your favorite search engine will turn up free or inexpensive school rating services. Also be on the lookout for outdated features when you buy. If the those small closets and harvest gold appliances seem out of step now, you can bet that they won’t look any better to prospective buyers in a few years.
Visit us at http://www.homekeys.net/ for details.
Tuesday, February 19, 2008
Reinventing real estate: How online empowered consumers are taking charge and paying less
Homekeys Town Hall Meeting- February 19, 2008
Remarks made by Manuel J. Iraola, CEO of Homekeys
What is going on in real estate?
These are fun times for the Real Estate industry. So much is going on !
For decades, the real estate world turned in a predictable manner. And now, everyday brings the news of many start ups using technology to transform what has been a "well protected business model".
For many years,the roles of buyers, sellers and real estate professionals were fairly well defined and transactions followed a predictable path of yard signs, newspaper ads, open houses and miles of paperwork. Not anymore ! Online and empowered consumers are and will continue to change the game.
Real estate professionals now face issues similar to the ones that have transformed the
retail, personal finance and travel planning industries. As technology advances and new business models evolve, the real estate industry has begun to transform itself from providing traditional, carefully controlled “agent-centric” transactions to new “consumer-centric” practices.
retail, personal finance and travel planning industries. As technology advances and new business models evolve, the real estate industry has begun to transform itself from providing traditional, carefully controlled “agent-centric” transactions to new “consumer-centric” practices.
What are the trends driving these changes?
The “Five Ds” that are driving change in real estate are:
1. Disruption – Over the past 10 years, the Internet has matured into a powerful platform for delivering real estate information, forever changing the interaction between buyers, sellers and real estate professionals.
2. Displacement – The popularity and acceptance of self-service and consumer direct business models is being felt by real estate professionals, who are striving to develop attractive new offerings for Web-savvy consumers.
3. Demanding consumers – You now have more real estate knowledge, tools and resources at your fingertips than ever before. More savvy consumers tend to be more independent and demanding.
4. Downward pressure - Traditional real estate commissions of 5-6 percent of a property’s sales price are facing downward pressure.
5. Developing alternatives – The real estate industry is transforming itself to provide targeted services and exciting new options that add value for consumers.
1. Disruption – Over the past 10 years, the Internet has matured into a powerful platform for delivering real estate information, forever changing the interaction between buyers, sellers and real estate professionals.
2. Displacement – The popularity and acceptance of self-service and consumer direct business models is being felt by real estate professionals, who are striving to develop attractive new offerings for Web-savvy consumers.
3. Demanding consumers – You now have more real estate knowledge, tools and resources at your fingertips than ever before. More savvy consumers tend to be more independent and demanding.
4. Downward pressure - Traditional real estate commissions of 5-6 percent of a property’s sales price are facing downward pressure.
5. Developing alternatives – The real estate industry is transforming itself to provide targeted services and exciting new options that add value for consumers.
Tomorrow's topic : Disruption
Look for us on the Web at www.homekeys.net and give us your feedback, ideas or input.
We would like to hear from you!
Tip # 8 For First Time Buyers
Tip 8: Clean up your credit
Low credit ratings mean that buyers won't qualify for the best available interest rates and fees, which could mean considerable extra expense each month for the life of the loan. Financing is getting tighter but those with good credit have an advantage.
Credit reports frequently contain inaccurate information, which can hurt a buyer’s purchasing power. First-time buyers should check their credit scores and fix any problems before applying for financing.
Visit us at http://www.homekeys.net/
Tomorrow's Topic : Begin With The End in Mind
Low credit ratings mean that buyers won't qualify for the best available interest rates and fees, which could mean considerable extra expense each month for the life of the loan. Financing is getting tighter but those with good credit have an advantage.
Credit reports frequently contain inaccurate information, which can hurt a buyer’s purchasing power. First-time buyers should check their credit scores and fix any problems before applying for financing.
Visit us at http://www.homekeys.net/
Tomorrow's Topic : Begin With The End in Mind
Sunday, February 17, 2008
Tip # 5 For First Time Buyers
Tip 5: Buying – personal decision, business transaction
The Department of Housing and Urban Development (HUD) advises home buyers to create a wish list to help focus priorities. That way, you’ll remember that a spectacular foyer is nice-to-have, but safety and services are essential. Having clear goals will help keep you from getting carried away with emotional factors. Sellers who love their homes tend to ask too much, and buyers who fall in love can end up overpaying. With a little research, you can get can get an objective estimate of property value to make sure the seller has set a fair asking price. There are tools and resources on the Web to help you better understand home valuations.
Visit us at http://www.homekeys.net/ for a full demonstration and free consultation.
Tomorrow's topic : Don't Let The Closing Costs Surprise You
The Department of Housing and Urban Development (HUD) advises home buyers to create a wish list to help focus priorities. That way, you’ll remember that a spectacular foyer is nice-to-have, but safety and services are essential. Having clear goals will help keep you from getting carried away with emotional factors. Sellers who love their homes tend to ask too much, and buyers who fall in love can end up overpaying. With a little research, you can get can get an objective estimate of property value to make sure the seller has set a fair asking price. There are tools and resources on the Web to help you better understand home valuations.
Visit us at http://www.homekeys.net/ for a full demonstration and free consultation.
Tomorrow's topic : Don't Let The Closing Costs Surprise You
Tip # 7 For First Time Buyers
Tip 7: Build a support team
Buying a home is a big investment and a big decision, but you don’t have to go it alone. Remember, at each step of the way, there are people and resources to help you. Use the Internet and ask friends for referrals. Don’t be afraid to pick up the phone and call real estate professionals, mortgage providers, title companies and insurers to ask questions. These professionals should be good resources to help you learn more about home buying, because they want to earn your business. If they are not helpful, then you have also learned something important…that they don’t deserve your business.
Homekeys supports you every step of the way and on top you receive a rebate of up to 75 % of whatever commisiion we are entitled. Visit us at http://www.homekeys.net/ for details.
Buying a home is a big investment and a big decision, but you don’t have to go it alone. Remember, at each step of the way, there are people and resources to help you. Use the Internet and ask friends for referrals. Don’t be afraid to pick up the phone and call real estate professionals, mortgage providers, title companies and insurers to ask questions. These professionals should be good resources to help you learn more about home buying, because they want to earn your business. If they are not helpful, then you have also learned something important…that they don’t deserve your business.
Homekeys supports you every step of the way and on top you receive a rebate of up to 75 % of whatever commisiion we are entitled. Visit us at http://www.homekeys.net/ for details.
Tomorrow's Topic : Clean Up Your Credit
Saturday, February 16, 2008
Tip # 6 For First Time Buyers
Tip 6: Don’t let closing costs surprise you
Once you understand the buying process, you should understand and budget for transaction costs. In addition to your down payment, buyers pay most of the closing costs when purchasing a home, including things like inspection fees, title insurance, taxes and more. Closing fees can add up to 5-7 percent of purchase price, and must be paid before you get the keys. Your lender can provide what’s called a “good faith” estimate of your closing costs. Most closing costs are not negotiable but some are. When you’re comparing lenders, don’t be shy…ask which fees are negotiable, then ask if any discounts are available. Finally, be cautious about “no-cost” closing promotions because the lender may be simply passing on the costs in the form of a higher interest rate.
Do you know that you can use homekeys buyer's rebate to offset most of the closing costs?
Visit http://www.homekeys.net/ for details
Tomorrow's Topic : Build a Support Team
Once you understand the buying process, you should understand and budget for transaction costs. In addition to your down payment, buyers pay most of the closing costs when purchasing a home, including things like inspection fees, title insurance, taxes and more. Closing fees can add up to 5-7 percent of purchase price, and must be paid before you get the keys. Your lender can provide what’s called a “good faith” estimate of your closing costs. Most closing costs are not negotiable but some are. When you’re comparing lenders, don’t be shy…ask which fees are negotiable, then ask if any discounts are available. Finally, be cautious about “no-cost” closing promotions because the lender may be simply passing on the costs in the form of a higher interest rate.
Do you know that you can use homekeys buyer's rebate to offset most of the closing costs?
Visit http://www.homekeys.net/ for details
Tomorrow's Topic : Build a Support Team
Sunday, February 10, 2008
Tip # 4 For First Time Buyers
Tip 4: Lock in a realistic budget
To save time and trouble, first time buyers should have a realistic budget in mind before they shop for homes. One way to determine how much house you can afford is to get “pre-approved” by a lender. Pre-approval means you know exactly how much of a loan you’ll qualify for, so you can limit your search to homes in the right price range. Pre-approval also boosts your credibility and negotiation position with sellers. Most lenders will offer pre-approval as a no-obligation free service, in hopes of winning your business.
For additional details visit us at http://www.homekeys.net/
Tomorrow's topic : Buying is a Personal Decision and a Business Transaction
To save time and trouble, first time buyers should have a realistic budget in mind before they shop for homes. One way to determine how much house you can afford is to get “pre-approved” by a lender. Pre-approval means you know exactly how much of a loan you’ll qualify for, so you can limit your search to homes in the right price range. Pre-approval also boosts your credibility and negotiation position with sellers. Most lenders will offer pre-approval as a no-obligation free service, in hopes of winning your business.
For additional details visit us at http://www.homekeys.net/
Tomorrow's topic : Buying is a Personal Decision and a Business Transaction
Tip # 3 For First Time Buyers
Tip 3: Check out the new real estate business models
Real estate’s old guard seems to be under assault at every turn today as traditional brokers battle competition from discount and Web-based brokers. Today, buyers have more options than ever before. You can use a full-service broker, discount broker or buy without a broker. To make buying more affordable, consider the homebuyer rebate programs that are becoming more popular. Rebates can help offset closing costs, which are a real obstacle for many first-time buyers. Be aware that some states currently ban real estate rebates all together, and others limit rebates to credits applied to closing costs. Rebate fans around the nation are proliferating .
Do you know that homekeys.net offers a rebate of up to 75 % ? Visit http://www.homekeys.net/ for details.
Tomorrow's Topic: Lock In a Realistic Budget
Real estate’s old guard seems to be under assault at every turn today as traditional brokers battle competition from discount and Web-based brokers. Today, buyers have more options than ever before. You can use a full-service broker, discount broker or buy without a broker. To make buying more affordable, consider the homebuyer rebate programs that are becoming more popular. Rebates can help offset closing costs, which are a real obstacle for many first-time buyers. Be aware that some states currently ban real estate rebates all together, and others limit rebates to credits applied to closing costs. Rebate fans around the nation are proliferating .
Do you know that homekeys.net offers a rebate of up to 75 % ? Visit http://www.homekeys.net/ for details.
Tomorrow's Topic: Lock In a Realistic Budget
Tip # 2 For First Time Buyers
Tip 2: Leverage free and low-cost resources
There’s an abundance of free and low-cost resources for homebuyers on the Web. A Web search can turn up helpful articles, buyer guides, online tools and purchase/ refinance calculators. Keep an eye out for helpful tools like step-by-step guides and checklists to help organize your search. Some Web sites now offer online tools to help you estimate home prices and search for undervalued properties. Many offers on the Web for free property valuations actually are come-ons from real estate brokers looking for seller listings, so check first to see what strings are attached.
For additional details visit http://www.homekeys.net/
Tomorrow's tip : Check Out The New Real Estate Models
There’s an abundance of free and low-cost resources for homebuyers on the Web. A Web search can turn up helpful articles, buyer guides, online tools and purchase/ refinance calculators. Keep an eye out for helpful tools like step-by-step guides and checklists to help organize your search. Some Web sites now offer online tools to help you estimate home prices and search for undervalued properties. Many offers on the Web for free property valuations actually are come-ons from real estate brokers looking for seller listings, so check first to see what strings are attached.
For additional details visit http://www.homekeys.net/
Tomorrow's tip : Check Out The New Real Estate Models
Nine Tips for First Time home Buyers- Tip # 1
This is the first of 9 tips for first time buyers.
For additional information, please contact us at http://www.homekeys.net/
Tip 1: Don’t bet on market timing
It seems that everyone loves a good real estate story. The media is filled with reports about declining property values and proclaiming that the time is right to purchase a home. As a result, many first time home buyers, afraid of missing out, will rush into buying decisions and achieve less-than-spectacular results. As a first time buyer, your biggest challenge is to balance livability and profitability in a way that makes sense for you and your family. Remember, you are buying a home first and an investment second. Of course, there’s no foolproof formula for buyer success, but there are steps you can take to stack the odds in your favor:
If you’re waiting for prices to drop to the bottom in places like Southern California, Washington D.C. or Miami, you may be waiting a very long time. In regions that are built out with limited room to expand, it’s not realistic to assume property values will fall dramatically. Of course, prices in the nation’s super-heated residential markets (much of California, Nassau-Suffolk Counties in New York, South Florida) arev cooling down , but there’s no guarantee that higher interest rates, insurance or propertry taxes won’t eat up any savings from a price correction. If your personal circumstances say it’s time to buy, high prices alone shouldn’t keep you on the sidelines. Current interest rates are still historically low, so you may consider locking in a mortgage before rates head north. Even in booming markets, there are good deals for those willing to devote some time and energy to finding them.
Tomorrow's tip : Leverage Free and Low Cost Resources
For additional information, please contact us at http://www.homekeys.net/
Tip 1: Don’t bet on market timing
It seems that everyone loves a good real estate story. The media is filled with reports about declining property values and proclaiming that the time is right to purchase a home. As a result, many first time home buyers, afraid of missing out, will rush into buying decisions and achieve less-than-spectacular results. As a first time buyer, your biggest challenge is to balance livability and profitability in a way that makes sense for you and your family. Remember, you are buying a home first and an investment second. Of course, there’s no foolproof formula for buyer success, but there are steps you can take to stack the odds in your favor:
If you’re waiting for prices to drop to the bottom in places like Southern California, Washington D.C. or Miami, you may be waiting a very long time. In regions that are built out with limited room to expand, it’s not realistic to assume property values will fall dramatically. Of course, prices in the nation’s super-heated residential markets (much of California, Nassau-Suffolk Counties in New York, South Florida) arev cooling down , but there’s no guarantee that higher interest rates, insurance or propertry taxes won’t eat up any savings from a price correction. If your personal circumstances say it’s time to buy, high prices alone shouldn’t keep you on the sidelines. Current interest rates are still historically low, so you may consider locking in a mortgage before rates head north. Even in booming markets, there are good deals for those willing to devote some time and energy to finding them.
Tomorrow's tip : Leverage Free and Low Cost Resources
Tuesday, February 05, 2008
An Increase in Entry Barriers for Real Estate Agents will improve ethical behavior
There is no doubt that many buyers- first time or otherwise- lack the fundamental knowledge of basic finance. However, it is the moral, ethical and legal responsibility of the so called experts in transacting real estate to protect the rights of the stakeholders involved in the process. Yes, the lending institutions failed by placing their own economic interest ahead of their own shareholders and the borrowers. These lending institutions are the same that irresponsibly provided financing to developers and contractors to overbuild our communities. And, obviously, this same group provided the financing to many that should had never purchased to begin with.
Ah! and let us not forget our City Governments who so diligently approved many projects that should had never seen the light of the day. They were in a position to stop it but obviously that would have been an unpopular decision!
Bottom line, record number of foreclosures, record write-offs and hundreds of thousands employed in many industries associated with real estate will now join the ranks of the unemployed. Wow! The industry system of “checks and balances” totally crashed or maybe it never existed to begin with. Our “instant gratification mentality” fueled by an exuberant amount of “greed” has destroyed the American dream and many of our communities. Ms. Elia Ceniceros is totally right. She said “There’s a lot of unscrupulous and unethical agents out there that may have done that to clients, but the problem is that when the client turns around and needs the agent to help them, the agent is no longer in the business.” So true but why are we surprised? The entry and exit barriers in our industry are among the lowest in any industry. It is easy to get in and even easier to get out. And very few realtors have any skin in the game. Our industry has more part-timers and retirees that any other industry. These individuals are not committed to the long term prosperity of the industry. When the tide is high and easy money is to be made you will find them in herds but when the tide is low and they have to work hard for their so called “clients” they simply disappear. Most of these are there to make a quick buck and undoubtedly the means justify the ends. These individuals need to close in order to earn a commission and as such they have consistently manipulated the process to their advantage. We need to “professionalize” the realtors’ role. This in turn should result in a significantly better prepared realtor and among other things financially literate. I have met many agents that do not have the slightest idea about basic finances; and these are the first contact with the client. Immigrants are very vulnerable. Would not you think that an agent could play an instrumental role in protecting these people? It boils down to morals and ethics. It has nothing to do with legality. It is about time we- as an industry and individuals - become “socially responsible”.
Manuel J. Iraola is President and CEO of Homekeys.net
Ah! and let us not forget our City Governments who so diligently approved many projects that should had never seen the light of the day. They were in a position to stop it but obviously that would have been an unpopular decision!
Bottom line, record number of foreclosures, record write-offs and hundreds of thousands employed in many industries associated with real estate will now join the ranks of the unemployed. Wow! The industry system of “checks and balances” totally crashed or maybe it never existed to begin with. Our “instant gratification mentality” fueled by an exuberant amount of “greed” has destroyed the American dream and many of our communities. Ms. Elia Ceniceros is totally right. She said “There’s a lot of unscrupulous and unethical agents out there that may have done that to clients, but the problem is that when the client turns around and needs the agent to help them, the agent is no longer in the business.” So true but why are we surprised? The entry and exit barriers in our industry are among the lowest in any industry. It is easy to get in and even easier to get out. And very few realtors have any skin in the game. Our industry has more part-timers and retirees that any other industry. These individuals are not committed to the long term prosperity of the industry. When the tide is high and easy money is to be made you will find them in herds but when the tide is low and they have to work hard for their so called “clients” they simply disappear. Most of these are there to make a quick buck and undoubtedly the means justify the ends. These individuals need to close in order to earn a commission and as such they have consistently manipulated the process to their advantage. We need to “professionalize” the realtors’ role. This in turn should result in a significantly better prepared realtor and among other things financially literate. I have met many agents that do not have the slightest idea about basic finances; and these are the first contact with the client. Immigrants are very vulnerable. Would not you think that an agent could play an instrumental role in protecting these people? It boils down to morals and ethics. It has nothing to do with legality. It is about time we- as an industry and individuals - become “socially responsible”.
Manuel J. Iraola is President and CEO of Homekeys.net
What goes up must go down
According to the associated press December ended as the worse year for the real estate market in the South Florida in the last 3 decades.
Real estate is a local business and we need to be careful with "satistics". You simply cannot generalize. The glass is half empty for some and half full for others.
Homekeys offers real estate services in 67 Florida counties and what we see is different from County to County. If you travel through the tri-county area Dade, Broward and West Palm, you will see more for sale signs than ever before. but that is not the case in other Regions . It is a fact that the tri-county area has become one the most difficult places to sale a house. But like anything else, all that goes up must come down and that does not exempt real estate. We have been through similar difficult periods in prior decades and eventually the market will sort itself out.
Homekeys offers the widest range of choices and savings for buyers and sellers.
Call us for details
Real estate is a local business and we need to be careful with "satistics". You simply cannot generalize. The glass is half empty for some and half full for others.
Homekeys offers real estate services in 67 Florida counties and what we see is different from County to County. If you travel through the tri-county area Dade, Broward and West Palm, you will see more for sale signs than ever before. but that is not the case in other Regions . It is a fact that the tri-county area has become one the most difficult places to sale a house. But like anything else, all that goes up must come down and that does not exempt real estate. We have been through similar difficult periods in prior decades and eventually the market will sort itself out.
Homekeys offers the widest range of choices and savings for buyers and sellers.
Call us for details
Sunday, February 03, 2008
AVM's with Homekeys ValueKey
The interactive approach used by Homekeys to determine the market value of a property is unique. In addition to providing historical comparables, Homekeys allows the consumer to adjust property values by reflecting existing market conditions; that is, by also providing detailed info on comparable properties that are “listed for sale”. This allows the consumer to gauge the impact of “market forces”. Homekeys is the only company I am aware of that offers free online value estimation tools that include both historical comparables and current comparable listings in determining the “market value” of a property. In addition, users are guided in reflecting unique property characteristics gathered from actually being at the property site.
To round out our self service offerings Homekeys provides consumers with a plethora of real estate information and resources including rehab and income property analysis tools, calculators, step by step buyer and seller guides, tips, original content and service providers of real estate related services at absolutely no charge…no strings attached.
Homekeys is one of the fastest moving real estate space. Feel free to contact Homekeys for details on how to buy, sell and rent easier, smarter, faster and cheaper.
To round out our self service offerings Homekeys provides consumers with a plethora of real estate information and resources including rehab and income property analysis tools, calculators, step by step buyer and seller guides, tips, original content and service providers of real estate related services at absolutely no charge…no strings attached.
Homekeys is one of the fastest moving real estate space. Feel free to contact Homekeys for details on how to buy, sell and rent easier, smarter, faster and cheaper.
Selling Direct by Owner is Increasing in Popularity
Trying to differentiate one real estate company from another, could be a difficult task. They all seem to offer the same products, for a similar price. Web based companies are starting to break the mold. Perfect examples of it can be found at Homekeys. Their theory is to offer maximum exposure and complete service; all these for a low set fee. And this seems to be the trend that real estate is moving to. Sellers are realizing that paying 6% commission is too high for the amount of actual work that is put on a listing. Companies like Homekeys have recognized that issue and are aggressively marketing their “for sale direct” program. This means you get all the benefits of a realtor, plus all the exposure of a web based company for a ¼ of the realtor’s fee.
At the end of the day, what really matters is that your property is price properly and that it receives maximum exposure. And in today's environment you do not have to pay 6 plus % to sell your property.
At the end of the day, what really matters is that your property is price properly and that it receives maximum exposure. And in today's environment you do not have to pay 6 plus % to sell your property.
Saturday, February 02, 2008
Technology must reduce real estate transaction costs
We don’t believe it is enough to use technology simply to generate traffic for real estate and mortgage professionals and perpetuate the role of the traditional intermediaries. This provides consumers with access to better information for decision making purposes but total transaction costs basically remain the same. It does nothing to change the agent centricity of the current real estate business model. The real estate professional remains in control of what for most people are the two most important financial decisions in their lifetime. The only thing that changes is who enjoys the lead generation revenues.
At Homekeys we develop and use technology to transform the way real estate has been transacted during the last 50 years. Homekeys redistributes the “value chain revenues” and allows consumers to significantly reduce transaction costs. They are provided with the information, tools and resources necessary to control the transaction and save significant money. The more the consumers choose to do, the more they save.
We believe that to truly be customer-centric in today’s real estate market, consumer empowerment should extend well beyond access to property value estimates, comps and county data, it means enabling consumers that take on a more active role to translate that labor into savings. The more significant the role, the more the reciprocal savings.
What do you think?
At Homekeys we develop and use technology to transform the way real estate has been transacted during the last 50 years. Homekeys redistributes the “value chain revenues” and allows consumers to significantly reduce transaction costs. They are provided with the information, tools and resources necessary to control the transaction and save significant money. The more the consumers choose to do, the more they save.
We believe that to truly be customer-centric in today’s real estate market, consumer empowerment should extend well beyond access to property value estimates, comps and county data, it means enabling consumers that take on a more active role to translate that labor into savings. The more significant the role, the more the reciprocal savings.
What do you think?
Friday, February 01, 2008
How to find the best real estate deals?
First it was Homekeys who provided consumers free home value estimates of their homes in Florida. Then Zillow provided value estimates for 60 million homes in the country. Recently Fidelity National has provided a new web site cyberhomes for 100 million homes in the country and I am sure others will follow.
Something else Homekeys has offered for the lst three years that can't be found anywhere else is a patent-pending technology called ValueSearch™. If your looking for a home in Florida and want to find the best deals, then ValueSearch™ is the only search today that will show you those listings in seconds. Because we have our own GIS systems, our own AVM algorithms, and we own all the code, we have been doing it better, faster, and longer than anyone.
The NAR and the local MLS boards now have their hands full with many web sites showing MLS listings illegally. Many of these sites show MLS listings without permission and knowledge of the listing agents and are not licensed. Incorrect pricing, descriptions, pictures, and detailed information never being kept up to date plague these web sites. Tie that to estimated values and value reports that take into account this wrong data and you really have a mess.
Homekeys is a licensed real estate company in the state of Florida and is bound to follow the MLS rules and regulations. You can feel secure in knowing that when your searching for an undervalued home on the Homekeys web site, it is based on the most accurate information to date. Information received directly from MLS feeds.
At Homekeys the future is now. The future is ValueSearch™.
Something else Homekeys has offered for the lst three years that can't be found anywhere else is a patent-pending technology called ValueSearch™. If your looking for a home in Florida and want to find the best deals, then ValueSearch™ is the only search today that will show you those listings in seconds. Because we have our own GIS systems, our own AVM algorithms, and we own all the code, we have been doing it better, faster, and longer than anyone.
The NAR and the local MLS boards now have their hands full with many web sites showing MLS listings illegally. Many of these sites show MLS listings without permission and knowledge of the listing agents and are not licensed. Incorrect pricing, descriptions, pictures, and detailed information never being kept up to date plague these web sites. Tie that to estimated values and value reports that take into account this wrong data and you really have a mess.
Homekeys is a licensed real estate company in the state of Florida and is bound to follow the MLS rules and regulations. You can feel secure in knowing that when your searching for an undervalued home on the Homekeys web site, it is based on the most accurate information to date. Information received directly from MLS feeds.
At Homekeys the future is now. The future is ValueSearch™.
Thursday, January 31, 2008
Would you foreclose? Refinace? Reverse Mortgage?
Several of our clients have asked us to provide a link to this past Sunday's 60 Minutes.
As you probably know, "60 Minutes" on Sunday produced a 15-minute segment on the housing downturn and foreclosure crisis. You can view the video segment here ("House of Cards").
In the segment (The Valdez family) -- about halfway through -- looks at the prospects of paying a higher mortgage payment on a house no longer worth the amount of the loan. The homeowners, who face a substantial monthly payment spike, consider whether it's better for them to walk away at this point. Would you foreclose? Is reverse mortage an option? Other options?
What would you do? Why?
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3756665n&channel=/sections/60minutes/videoplayer3415.shtml
As you probably know, "60 Minutes" on Sunday produced a 15-minute segment on the housing downturn and foreclosure crisis. You can view the video segment here ("House of Cards").
In the segment (The Valdez family) -- about halfway through -- looks at the prospects of paying a higher mortgage payment on a house no longer worth the amount of the loan. The homeowners, who face a substantial monthly payment spike, consider whether it's better for them to walk away at this point. Would you foreclose? Is reverse mortage an option? Other options?
What would you do? Why?
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3756665n&channel=/sections/60minutes/videoplayer3415.shtml
Homekeys Rentals is now available in all Florida Counties
As previuosly announced, Homekeys has launched a Beta Rental site across the State of Florida.
Homekeys Rentals is a division of HomeXperts Inc. a leading developer and integrator of online applications for real estate professionals and consumers.
The site offers rental services throughout 67 counties in the state of Florida. Users will also have access to an extensive network of agents capable of providing full real estate services in other States and in other regions of the World.
Homekeys business model offers renters and those renting their properties the best of both worlds: "the feel and touch of people and the heart and soul of technology".
Homekeys believes that a consumer-centered business model that uses technology to empower the consumers allows our agents to spend more time providing value with expertise, guidance and attention to transaction details. Today’s renters and property owners are fiercely independent and technologically sophisticated. They want transparency, professionalism and efficiencies.
Technology will never displace the human factor; it delivers 24 hours a day, 7 days a week to any corner of the World. Homekeys clients are able to conduct business on their time, not anyone else's. They know that when assistance is needed, someone from Homekeys will be available in a reasonable amount of time.
Homekeys has built an exclusive search listing tool tailored to the rental home market. In addition to the traditional tools found in other sites, Homekeys gives you access to rental listings that are comparable to your rental specifications and includes relevant informatiion such as average rental cost per square feet and the like.
We recommend you use Homekeys search tool to find your next rental and when you're ready, call them to make an appointment or make your appointment on line.
Homekeys welcomes your feedback. Tell Homekeys what you like, what you did not like and what you would like to see.
Homekeys Rentals is a division of HomeXperts Inc. a leading developer and integrator of online applications for real estate professionals and consumers.
The site offers rental services throughout 67 counties in the state of Florida. Users will also have access to an extensive network of agents capable of providing full real estate services in other States and in other regions of the World.
Homekeys business model offers renters and those renting their properties the best of both worlds: "the feel and touch of people and the heart and soul of technology".
Homekeys believes that a consumer-centered business model that uses technology to empower the consumers allows our agents to spend more time providing value with expertise, guidance and attention to transaction details. Today’s renters and property owners are fiercely independent and technologically sophisticated. They want transparency, professionalism and efficiencies.
Technology will never displace the human factor; it delivers 24 hours a day, 7 days a week to any corner of the World. Homekeys clients are able to conduct business on their time, not anyone else's. They know that when assistance is needed, someone from Homekeys will be available in a reasonable amount of time.
Homekeys has built an exclusive search listing tool tailored to the rental home market. In addition to the traditional tools found in other sites, Homekeys gives you access to rental listings that are comparable to your rental specifications and includes relevant informatiion such as average rental cost per square feet and the like.
We recommend you use Homekeys search tool to find your next rental and when you're ready, call them to make an appointment or make your appointment on line.
Homekeys welcomes your feedback. Tell Homekeys what you like, what you did not like and what you would like to see.
Wednesday, January 30, 2008
Too many homes for sale, large # of buyers, few deals !
It's an irony of the current market that with all the homes offered for sale, many serious buyers can't find a home to buy. There are often certain types of homes, in certain areas, that just aren't on the market. These are usually prime properties in excellent condition that have broad-based appeal. When these listings come on the market, they are usually snapped up quickly, despite the otherwise slow housing market.
Many buyers are sitting on the fence at this point, watching the market and waiting for a better time to buy. It's impossible to time the housing market, so you won't know precisely when the market will next correct until that correction has already occurred. A market correction can be verified only through hindsight.
Although most buyers feel more comfortable buying in a hot market -- even though it may mean paying more -- there are some buyers who see a slow market as a good buying opportunity.
If you are one of these buyers and you're having difficulty finding a home to buy, we offer the following tips:
1.Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar.
2.Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market.
Take a look at Homekeys Neighborhood Analysis Tool and let us know what you think. We want to make this tool as comprehensive as possible. Does it help you? What would you like to see?
Obviously, this is not an appraissal but simply an indication of value based on a number of assumptions.
Many buyers are sitting on the fence at this point, watching the market and waiting for a better time to buy. It's impossible to time the housing market, so you won't know precisely when the market will next correct until that correction has already occurred. A market correction can be verified only through hindsight.
Although most buyers feel more comfortable buying in a hot market -- even though it may mean paying more -- there are some buyers who see a slow market as a good buying opportunity.
If you are one of these buyers and you're having difficulty finding a home to buy, we offer the following tips:
1.Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar.
2.Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market.
Take a look at Homekeys Neighborhood Analysis Tool and let us know what you think. We want to make this tool as comprehensive as possible. Does it help you? What would you like to see?
Obviously, this is not an appraissal but simply an indication of value based on a number of assumptions.
Tuesday, January 29, 2008
It is worth it to fix your home for sale
Sellers who anticipate losing money if they sell their home may wonder why they should spend a dime fixing the place up for sale. Isn't this throwing good money after bad? Even sellers with plenty of equity in their homes often figure the way to get the most out of the sale is to cut sale costs to a minimum.
This attitude is directly contrary to the notion that the way to make the most money on the sale of a home is by pricing the property appropriately for the market, and by making cost-effective improvements that will result in a higher sale price in a shorter time.
Job applicants don't show up for an important interview in tattered old clothes if they want to make a good impression, particularly if there were plenty of other qualified applicants. Likewise, if you wanted to get top dollar from the sale of a car you would have the car detailed so that it looked its best. The same principal applies to selling single-family homes.
Today, the housing market have plenty of homes for sale and far too few buyers. For years, buyers competed with one another in order to buy a house. Now, in general, sellers are being forced to compete with other sellers in order to get their home sold.
Consider the competitive nature of the market when deciding if you're going to improve your home before selling it, and how much you'll invest. Keep in mind that the point of fixing up a home to sell is to maximize your return from the sale. Don't waste money on improvements that have little or no value to buyers.
Ask your real estate agent to walk through your home with you for the purpose of determining what fix-up projects you should ideally complete before marketing the property. For example, you might be inclined to replace worn-out carpet. Your agent, however, might advise otherwise, a buyer looking for an older home, prefer hardwood floors, your agent may recommend refinishing the hardwood floor that is hidden underneath the carpet instead of changing the carpet.
The best houses in the best condition and offered for the best price usually sell quickly. A fast sale is important to some sellers in this market. The sooner your home is sold, the sooner you stop paying mortgage payments, property taxes and various maintenance costs.
This attitude is directly contrary to the notion that the way to make the most money on the sale of a home is by pricing the property appropriately for the market, and by making cost-effective improvements that will result in a higher sale price in a shorter time.
Job applicants don't show up for an important interview in tattered old clothes if they want to make a good impression, particularly if there were plenty of other qualified applicants. Likewise, if you wanted to get top dollar from the sale of a car you would have the car detailed so that it looked its best. The same principal applies to selling single-family homes.
Today, the housing market have plenty of homes for sale and far too few buyers. For years, buyers competed with one another in order to buy a house. Now, in general, sellers are being forced to compete with other sellers in order to get their home sold.
Consider the competitive nature of the market when deciding if you're going to improve your home before selling it, and how much you'll invest. Keep in mind that the point of fixing up a home to sell is to maximize your return from the sale. Don't waste money on improvements that have little or no value to buyers.
Ask your real estate agent to walk through your home with you for the purpose of determining what fix-up projects you should ideally complete before marketing the property. For example, you might be inclined to replace worn-out carpet. Your agent, however, might advise otherwise, a buyer looking for an older home, prefer hardwood floors, your agent may recommend refinishing the hardwood floor that is hidden underneath the carpet instead of changing the carpet.
The best houses in the best condition and offered for the best price usually sell quickly. A fast sale is important to some sellers in this market. The sooner your home is sold, the sooner you stop paying mortgage payments, property taxes and various maintenance costs.
Monday, January 28, 2008
Real Estate Bubble will redefine role of agent and there will be fewer agents
A Rising Tide Lifts All Ships...and nothing could be farther from the truth in real estate!
When real estate fever hit its peak sometime ago, it was almost impossible to go wrong, and all realtors looked like geniuses. This irrational market resulted in thousands of individuals joining the ranks of the real estate profession. After all, it was easy to get a license and- with limited effort- the economic reward was significant. We simply have too many agents!
While it is going to take sime time for the market to recover, we are beginning to witness some signs of consolidation. Many "part-time" agents that should had never been here to begin with are now disappearing. This offers a great opportunity to the many "full time professional agents" that have been fully committed to the industry to regain control of the process.
These agents do not complain about market difficulties. They continue to work hard serving their existing and prospective clients. And consumers will be able to tell who these agents are: they really know what is going on and share all information with their clients in an unbiased and transparent manner.
Being good isn’t easy. It’s hard work. The really good professional will look at each property individually and develop a strategy for a successful sale. It takes time, requires patience and calls for a creative approach. But it pays off when sellers and buyers begin to call you because they know you’re getting results.
And at the end of these cycle there will be fewer but better agents...agents that are tech savvy and whose role will be different...less driving around, more mousing around, more counseling !
When real estate fever hit its peak sometime ago, it was almost impossible to go wrong, and all realtors looked like geniuses. This irrational market resulted in thousands of individuals joining the ranks of the real estate profession. After all, it was easy to get a license and- with limited effort- the economic reward was significant. We simply have too many agents!
While it is going to take sime time for the market to recover, we are beginning to witness some signs of consolidation. Many "part-time" agents that should had never been here to begin with are now disappearing. This offers a great opportunity to the many "full time professional agents" that have been fully committed to the industry to regain control of the process.
These agents do not complain about market difficulties. They continue to work hard serving their existing and prospective clients. And consumers will be able to tell who these agents are: they really know what is going on and share all information with their clients in an unbiased and transparent manner.
Being good isn’t easy. It’s hard work. The really good professional will look at each property individually and develop a strategy for a successful sale. It takes time, requires patience and calls for a creative approach. But it pays off when sellers and buyers begin to call you because they know you’re getting results.
And at the end of these cycle there will be fewer but better agents...agents that are tech savvy and whose role will be different...less driving around, more mousing around, more counseling !
Tuesday, January 15, 2008
When is the media going to get home sales right.
Today consumer survey shows buyers are in it for the long-haul, planning to stay in their home for a median of 10 years. This is a wise approach to housing because the longer you own, the better your investment.
New-home sales are projected at 773,000 for 2007, and declining to 669,000 this year before rising to 730,000 in 2009, but well below the 1.05 million 2006. With an appropriate slowdown in production, housing starts, including multifamily units, are forecast at 1.36 million for 2007 and 1.09 million this year before edging up to 1.10 million in 2009; starts totaled 1.80 million in 2006. The median new-home price should drop 2.1 percent to $241,400 for 2007, and then rise 0.4 percent to $242,200 this year and gain another 5.9 percent in 2009.
According to the latest forecast by the National Association of Realtors, America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
When is the media going to get it right.
New-home sales are projected at 773,000 for 2007, and declining to 669,000 this year before rising to 730,000 in 2009, but well below the 1.05 million 2006. With an appropriate slowdown in production, housing starts, including multifamily units, are forecast at 1.36 million for 2007 and 1.09 million this year before edging up to 1.10 million in 2009; starts totaled 1.80 million in 2006. The median new-home price should drop 2.1 percent to $241,400 for 2007, and then rise 0.4 percent to $242,200 this year and gain another 5.9 percent in 2009.
According to the latest forecast by the National Association of Realtors, America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
When is the media going to get it right.
Saturday, January 12, 2008
Perfect Storm for Foreign Buyers of Real Estate
It appears that the timing is the best it has been for quite some time for foreign buyers looking for second homes in the USA....sort like the PERFECT STORM !
- Prices in most USA markets are coming down
- Foreclosures are increasing
- Inventories are rising
- Locals are not buying because of tightness in lending
- Property values in Europe are skyrocketing
- The Euro and the British Pound continue to strengthen
- The Canadian dollar is also strong
- The likelihoodof a stronger dollar is LOW
Plenty of opportunities to buy at reasonable prices ....currency of acquirer and future property appreciation minimizes risk.
Let us know how we can help you by contacting us at http://www.homekeys.net/
Friday, January 11, 2008
Cut your home for sale listing asking price until a buyer appears
Cut or hold?
With this week’s news that home prices fell 4.5 percent in the third quarter, a lot of people with real estate to sell have to make some tough decisions. Do they cut their asking price enough to get a contract, or do they hold out for the inevitable recovery?
The big question is, how long will they have to wait? Perhaps the best way to answer that question is to look at the last period in which home prices began to fall, as measured by the widely followed S&P/Case-Shiller index of home prices.
If the current slump follows the same pattern as in the 1990s, it could be a long wait. As you remember, it took nearly seven years for the prices to recover and resume their upward climb from the 1990 levels.
The usual “past is not prologue” caveats apply, of course. But I don’t see a lot of reasons to think the current cycle will be any shorter or less painful than previous one, for several reasons:
· The disappearance of the subprime mortgageBear-Stearns-Troubles Nov-07 market has reduced the amount of money available for purchasing property.
· We’re in the early stages of a wave of foreclosures that will put more homes on the market, dragging down prices further.
· The current of homes is now at a 22-year high, and sales are down 31 percent from two years ago.
As a real estate broker uses the auction method to sell properties, I gain a different perspective on this. The auction is the exact opposite of a “wait it out” approach. Rather than wait for buyers to agree to pay a certain price, the seller agrees to sell “at the market” on a particular day. Another choice for many people is to simply cut their asking price until a buyer appears.
Either way, the sale price will likely be lower than it might have been last year, but it may well turn out to be higher than some of the prices ahead.
Thursday, January 10, 2008
Pricing within the real estate market
We've all spent a lot of time lately talking about the oversupply of properties in previously overheated markets, and about the difficulty of getting property sold in the current environment. But it's good to remember that there's one way to be certain of a sale no matter what's going on around you. Pricing within the market, “The price is right”.
To fully appreciate the significance of this, it's important to remember that sales in Southwest Florida have slowed to a crawl, as sellers tried to hold onto previous asking prices that buyers are unwilling to pay. It's hard to blame the sellers, some of whom overpaid for their homes, condos and land during the overheated "bubble" days of 2004 and 2005.
But the buyers are out there, just waiting for a signal that sellers would meet them at today's market prices, “The price is right”
In other words, you can always sell property if you're willing to accept the market price. Ultimately, everything sells "at the market," whether it's an auction or an ordinary listing.
To fully appreciate the significance of this, it's important to remember that sales in Southwest Florida have slowed to a crawl, as sellers tried to hold onto previous asking prices that buyers are unwilling to pay. It's hard to blame the sellers, some of whom overpaid for their homes, condos and land during the overheated "bubble" days of 2004 and 2005.
But the buyers are out there, just waiting for a signal that sellers would meet them at today's market prices, “The price is right”
In other words, you can always sell property if you're willing to accept the market price. Ultimately, everything sells "at the market," whether it's an auction or an ordinary listing.
Tuesday, January 08, 2008
FSBO sales increase by 20% in last 5 years
The increased resources available on the Internet resulted in more consumers having confidence in their ability to successfully sell or buy a home without a real estate agent. The figures are staggering as there will be savings of nearly $9 billion in real estate commission on 2007 alone. These results have lead to great developments of For Sale By Owner sites which are targeting home sellers to pay a small advertising fee and save on the 6% commission of the real estate agent.
Monday, January 07, 2008
Succesful Sellers Think like Buyers
The most succesful sellers are the ones that think and act like buyers.
This is what they do:
This is what they do:
- They search for homes that are for sale in their neighborhood in sites like http://www.homekeys.net/. This site provides listing details and free and unlimited access to comparables and most likely property market values. Maps are also included. These allow you to see the location of each property.
- They drive around and identify those properties that appear to be comparable and assess the external condition and comparability of those properties. They also look around for FSBO properties. FSBO sellers are actively competing with properties listed in the MLS . Potential sellers can contact FSBO owners directly and inquiry about asking prices as well as other relevant factors.
- They see their home thru the eyes of the buyers. We all believe what we have is better than what it actually is for others; thus, we need to be realistic. Value like beauty is in the eye of the beholder. Just because we like it does not mean the rest of the world will. How will a potential buyer react when visiting your home? Just think about your reaction when you are buying . And others will not be any different.!
- They establish the asking price by incorporating all the information gathered during the fact finding process. What will I be competing against? What are my goals? Do I need to sale? If so, how quickly? Many of our clients decide to sell by owner and we assit them in the marketing of their property. The fact is that you can be effective selling on your own as long as you are realistic! There is not a need to sacrifice quality for service nor a need to pay a commission of 6%.
- They are as factual and unbiased as they can be. They are good at removing the "emotional factor" from their decision. This is easier said than done but it must be done.
These are difficult times; be thoughful and honest in your process and you will be succesful.
Saturday, January 05, 2008
When does it make sense to rent a home?
You may not have saved enough money to use as a down payment or to pay the other costs associated with buying a home. If that is the case, renting is most likely your best option. Renting makes sense for other reasons as well. One of the biggest reason to rent in Florida is you don’t have to pay property taxes and special assessments. Another major reason why Floridians rent is to enjoy the weekend and not have to spend time fixing the home!
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