Monday, February 20, 2012

Is The Housing Crisis Over?

I read an article this morning that highlighted the many times over the previous few years economists have predicted the housing turnaround.

Is the housing crisis over in Brevard County, Florida?

Let me see..
  • Our residential housing inventory has dropped significantly over the years (now 3,020 vs. about 10,000 at the peak).
  • Average sales prices have dropped and continue to drop although not as rapidly.
  • Interest rates are low and have been for some time. 
  • The space shuttle program ended killing a lot of jobs. 
  • Sales volume has been steady although not booming.
  • Most of my listings have been/are short sales
  • Most of my contracts have been/are short sales
 I have yet to close a deal in February 2012 yet - so the crisis is not over yet. 
When you are ready to buy or sell a house or condo in Brevard County Florida, call me especially the areas of Viera, Suntree and Rockledge.


Saturday, February 11, 2012

The Week That Was….

OK, it is Saturday night and another week in Florida real estate sales history has gone by.

What did I learn or accomplish?  Learning is also important…

First, I still can not convince a seller who wants more than the property is worth to lower their price and list with me?

Secondly, I can not convince a buyer that a low ball offer will not get rejected by a seller?

So, what do I do?  Take Sunday off and move forward.

Monday, February 6, 2012

FSBO: If You Are Willing To Pay Me to Bring You a Buyer, Why Not List Your Viera Home For Sale?

While waiting to get a haircut a few days ago I chatted with a gentleman who was also waiting.   As I always wear my name tag (Gary L. Waters, Realtor®) when I am out and about, he asked me about the market (everyone does, easy conversation starter) and a few general questions about buying and selling homes in the Viera area.

It was not long before I realized he was a for sale by owner seller.  I rarely see them although I heard they still exist. According the the 2011 NAR Profile of Buyers and Sellers, 10% of sales last year were FSBOs.

By the way, I have offered free advice to FSBOs in Brevard County for as long as I can remember.  Just call and ask...I will help.

I know the Viera real estate market fairly well and know his neighborhood.  He indicated he would be willing to pay me a commission if I bring him a buyer.

But his price is not competitive with the others for sale in Viera and Suntree for comparable properties.  At this time I have no buyer for his home but even if I did -  not at his dream price.

I wonder why he is willing to schedule showings, walk strangers through his home, negotiate with a buyer, deal with the inspection and possible repairs, and all the other issues a seller deals with but is not willing to let any Realtor® list his property for sale.

The additional cost is not significant and I have read studies that have shown homes sold through a Realtor® sell for more than the FSBO seller.   Besides, FSBOs are only selling 10% of all homes sold and FSBOs call a Realtor® 85% of the time anyway.

Sunday, February 5, 2012

Sellling Your Brveard County Florida Home - Nobody likes to say it...You have an ugly....

Nobody likes to say it...You have an ugly....

Sometimes people are too kind.  They don't want to tell some one "You have an"   Still, they exist.

The good news is that although a house or condo may be ugly (or in a less than ideal location), it will sell.


Because even an ugly house when priced right will sell sooner than a pretty house priced wrong.

It is really mostly about price.  Read these links for a few of my ideas about pricing a home to sell.
  1. Real estate pricing theory for 2011 
  2. What your listing price should reflect.   
  3. Use sold data to your advantage when pricing.

Saturday, February 4, 2012

Home Seller Tip–Minimize Exposure to Loss When Selling

Home Seller Tip–Minimize Exposure to Loss When Selling

I am not referring to loss on the sale price of your home but rather, I am talking about minimizing the chance someone may get injured while viewing your home for sale in Brevard County, Florida (or any other place!).

Before you list your home for sale take a good look around your house from a child's perspective.

Even if you have no children think about potential buyers who do have children accompanying them as they view homes.  And, although I am no lawyer, you do not want to have something happen to anyone on your property - selling or not!

Do not leave toxic within reach of small hands.  I know you are thinking that the children should be under control at all times but I have witnessed it – they aren’t always!

If you have firearms, secure them with some sort of locking device or better yet, remove them.  I can recall the times I have shown homes and seen rifles propped against the wall in a closet or under the bed.  I don’t know if they were loaded but still, why have them there?

And think about your furniture layout and lighting.  Maybe you should leave more lights on? 

And think about the calm dog of yours who is friendly and only barks!

And do not forget about the exterior...any holes or low areas in the lawn?  What about the garden hose on the ground?

Risk reduction and management is a key component of any business.  Selling your home is a business transaction you are part of.  I have heard many times "It is not if you will get sued but when!"

Protect yourself by managing risk exposure.