 |
10 Steps to Bolster Selling AppealBy Paul Owers April 28, 2008 Selling your home in today’s depressed market might be as ambitious as drumming up positive PR for Britney Spears. With thousands of properties for sale, buyers know they have leverage, and they’re using it. They search a multitude of homes in a quest for the best combination of amenities and price. The National Association of Realtors reported last week that sales of existing homes have dropped by 19.3% in the past year. So sellers need to fight back, preferably with broom and brush in hand. Homes that do attract interest are priced right and show well. The grass is cut and the shrubs are manicured, rooms are free of clutter and ratty carpeting has been replaced with a neutral-color berber. We talked to five housing experts-appraiser Joel Greenberg, real estate agent Janice Leis and home stagers Akanake Cadden, Heather Johnson and Margo Aguirre-for ideas on renovations that homeowners can make that will help their properties stand out.
|
Industry reacts to short-sale rule changes An Inman News article about the National Association of Realtors' consideration of new multiple listing service rules relating to properties that may be subject to short-sale transactions drew a range of reader comments and letters. An NAR committee is expected to consider next month whether to offer guidance on when MLS participants must disclose that a property may be subject to lender approval as a short-sale transaction. Short sales are typically defined as transactions in which the lender agrees to accept less than the full amount due on a mortgage when a property is sold in order to avoid a lengthy and costly foreclosure process, and the consideration of new rules is in response to the growing share of short-sale and foreclosure transactions across the country. Short-sale transactions can lead to lower compensation for real estate professionals involved than they would receive in standard transactions. Daniel Ickowicz, director of sales for Elite International Realty in Aventura, Fla., told Inman News that he had contacted the national, statewide and local Realtor associations to call attention to MLS issues with short sales. . . . read more Source: Inman News |
 It's spring ... Ready to buy a home yet? Despite struggling market, now may be a good time to make a move The spring home-buying season is upon us. In small towns and big cities alike, "Open House" and "For Sale" signs are sprouting like crocuses. But it will take more than pleasant weather to thaw the ice-cold real estate market. Many buyers—especially now that the housing slump is in its third year—are reluctant to take a chance on real estate in the face of continuing price declines, foreclosures, record gas prices, job losses, and general economic uncertainty. Spring is traditionally the busiest time for real estate, largely because parents, readying for a summer purchase, don't want to move during the school season. . . . read more Source: MSNBC.com
|
|
|
 |
How to Capture Consumers in the Emerging Market RISMEDIA, May 8, 2008-The U.S. Census Bureau is predicting that the Hispanic and Asian population will triple by 2050 while that of White non-Hispanic will increase by only 7%. Given that recent report, you don’t have to look very hard to see organizations placing a great deal of attention on emerging markets consumers. This new interest isn’t unique to the real estate industry. In fact, a push to capture emerging market consumers transcends many industries from automobiles to toiletries. What is it? Where has it come from and why the sudden focus? Emerging markets are best defined as “Minorities, families of modest means, new Americans, and other underserved families — many with very little wealth and complicated job and financial histories.” Most of the focus has been on the minority component of the emerging market definition and rightfully so. . . .read more Source: Rismedia |
Camelback Corridor to see new buildingby Andrew Johnson - Apr. 30, 2008 Construction near the Camelback Corridor will increase in the coming months with Ryan Cos. US Inc.'s plans to break ground on a new 177,520-square-foot office building. The commercial development firm recently bought 4.8 acres near the northwest corner of 40th Street and Camelback Road for about $8.7 million, according to Jeff Wentworth, senior vice president with Grubb & Ellis/BRE Commercial LLC'S Phoenix office. The sale, which closed April 15, included two two-story office buildings totaling 56,010 square feet on land zoned for commercial office development, said Wentworth, who helped broker the deal. . . . read more Source: The Arizona Republic |
Homeowner vacancy rate hits record high as foreclosures spike Monday, April 28, 2008 As the housing slump tightens its grip on America, new research shows home vacancy rates reached a record high this year. A new U.S. Census Bureau report shows 2.9 percent of U.S. homes -- excluding rental properties -- were vacant in the first quarter of this year, compared with 2.8 percent in the fourth quarter of 2007. The first-quarter rate -- the highest on record -- was caused mainly by a spike in foreclosures, as tens of thousands of Americans have lost their homes. Also, many adjustable-rate mortgages have reset, causing much higher monthly mortgage payments. The West had the biggest gain in vacancy rates among homeowners, rising from 6.5 percent in the fourth quarter of 2007 to 7 percent in the most recent period. Vacancy rates also rose in the Northeast, but fell in the Midwest and South. . . . read more Source: Phoenix Business Journal |
|
