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Posts Tagged ‘Real Estate’

Image: Wikimedia Commons

Image: Wikimedia Commons

Historically, Naples, Florida, has been a seasonal destination, booming with snowbirds during the winter months, and all but closing up during the summer. In just the past couple years the situation has started to change, with more and more people choosing to make Naples their year-round home. Click here for more on the story from WINK News. Of course this trend is having a definite impact on the Naples real estate market with increased activity of buyers and sellers. If you’re thinking of selling, now is a good time to look at entering the market. If you’re thinking of making Naples your permanent home, now is also the time to make the jump – there’s absolutely no indication prices are headed down anytime soon in Naples. In either case, call me today so we can discuss your particular situation and how best to achieve your goals.

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BHHS Florida

Prudential Florida Realty will soon be Berkshire Hathaway HomeServices Florida Realty. Those of you familiar with Warren Buffett’s Berkshire Hathaway corporation know this is very big news indeed!

“Berkshire Hathaway HomeServices is a new franchise brand built upon the financial strength and leadership of Brookfield and HomeServices,” said Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. “I am confident that these partners will deliver value to the residential real estate industry, and I am pleased to have Berkshire Hathaway be a part of the new brand.”

Please click here to view the new Berkshire Hathaway HomeServices website.

Please click here to read the press release announcing Berkshire Hathaway HomeServices.

Please click here to read the press release announcing Prudential Florida Realty’s decision to become one of the very first franchisees with Berkshire Hathaway HomeServices.

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Prudential Sold

I am pleased to announce my new association with Prudential Florida Realty at the Park Shore office in Naples, Florida. Prudential Real Estate ranked number one in three of four categories in the 2013 J. D. Power 2013 Home Buyer/Seller Satisfaction Study. Buying or selling, call me today to put the tremendous power of Prudential Real Estate to work for you!

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Image: KCM Blog

Image: KCM Blog

One of the worst mistakes a seller can make is overpricing his home. Time and again, research shows that homes receive the most activity when they are first listed. As a home stays on the market it generally receives less and less activity. Therefore, the smart move is to price your home competitively right out of the gate. Those who believe they can list high and make price reductions later do themselves a serious disservice – as we just mentioned, those with the greatest interest in your home are most likely to look right after it’s listed. By the time you finally make your price reduction, these buyers have moved on and you’ve lost your opportunity for the highest volume traffic.

Likewise, those who put their home on the market at a ridiculously high “make me move” price also put themselves in a very bad position. By having your home sit on the market at a ridiculously high price simply tells everyone you are not really a seller. Should the day come that you actually want to sell your home, you have to deal with your self-created track record to convince people that “this time” you’re actually a serious seller. Again, you’ve already lost the vast majority of your traffic of seriously interested buyers. If you’re not really serious about selling, then don’t list your home for sale. It’s far better to wait until you are a serious seller to put your home on the market.

Click here for an article with some more information on this topic in relation to today’s market. Here’s the most important take-away from the entire article:

“If you are thinking about selling your home, don’t get carried away with current headlines about home price increases that have taken place over the last twelve months. Instead, call a local real estate professional. They will be best prepared to explain where prices are headed over the next six months.”

If you’re a serious seller, the best thing you can do is to meet with a Realtor familiar with your local market conditions and who can help you determine a price which will get your home sold. I’d be happy to assist you. Please call me today so we can discuss the best plan for your current situation.

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Another housing bubble? Not if we look at the numbers:

Source: KCM Blog (www.kcmblog.com)

Source: KCM Blog (www.kcmblog.com)

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Image: KCM Blog

Image: KCM Blog

Let’s consider some trends which indicate now might in fact be the time to buy. Two factors determine the “cost” of a home: the sales price and mortgage interest rate. As those factors rise, clearly so does the cost of buying a home. What’s happening in the current market? First, the trend in nearly every market seems to be rising prices. No, we’re not seeing the crazy bubble of a few years ago, but it appears we are seeing an increasing momentum in recovery from the crash. Second, mortgage interest rates, while still low, are continuing to rise – and all experts are predicting this trend to continue. As these two factors climb, so does the “cost” to purchase a home. Take a look at the KCM Blog here for a great example of the difference in cost today from just one year ago. If you’re thinking about buying or selling, call me today so we can meet to discuss your particular situation and develop a game plan to meet your goals.

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Another bubble?

Another bubble?

With markets coming back to life in many areas of the country, some are raising concerns about the possibility of another housing bubble. Are such fears well-founded? According to this post on the KCM Blog, such fears are overrated. Throughout most of the nation (91 out of 100 largest metro markets) housing prices, even though on the rise, remain undervalued. Even in areas which are overvalued, price increases remain at percentages far below those of the 2006 to 2007 bubble. The KCM piece cites three other reasons indicating we are not headed for another bubble:

1. Supply is starting to increase: as more people see prices going back up and homes selling, they are deciding it’s time to again enter the market.

2. Demand decrease in certain demographics: as prices continue to rise, certain segments of buyers, particularly investors, will begin to back off.

3. Rising interest rates: as mortgage interest rates continue to increase, buyers will be able to afford less.

Thus, it does not appear there’s another housing bubble on the horizon any time soon. However, all these factors continue to indicate now is a good time to jump into the market. If you’re planning on buying or selling, don’t wait for interest rates to go up – start looking at things now. I’d be happy to discuss your individual situation. Please give me a call!

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Zombies Are Here (Image: Wikimedia Commons)

Zombies Are Here (Image: Wikimedia Commons)

The “course corrections” (to put it mildly) of the real estate market over the last few years has introduced several new terms to our everyday real estate lexicon. Among these are terms like “distressed property,” “short sale,” “shadow inventory,” “upside down,” and “under water.” Here are a couple more new terms: “zombie homes” and “boomerang buyers.”

“Zombie homes” or “zombie foreclosures” refer to a property abandoned by the homeowner prior to the lender gaining possession of the property through foreclosure. In more than a few cases, homeowners receive a notice of sale from their lender, prompting them to move out under the (mistaken) belief that the lender has assumed ownership of the home. However, until the lender formally takes possession of the property at the conclusion of the foreclosure process, the homeowner remains legally responsible for the property. This is clearly a serious issue. Even more serious are the cases where the lender never actually takes possession of the home and the owner only learns about the situation years after – all the while still remaining legally responsible for the property.

If you’re having trouble making your payments, don’t wait for the situation to become completely out-of-hand. Sometimes a short sale is a good solution to the problem. Seek the assistance of competent real estate and legal professionals who can offer sound advice and assistance.

Our other “new” term, “boomerang buyers,” refers someone who lost a property to foreclosure, short sale, or bankruptcy, but is now once again eligible for a new mortgage. Expect to see this demographic continue to grow as those who suffered through our recent real estate mess are once again able to return to the home ownership market.

If you happen to be a “boomerang buyer” interested in returning to home ownership, please feel free to get in touch with me. I’d be happy to help put you in touch with lenders who can consult with you regarding your situation and your options.

(Source: The KCM Blog)

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The Increasing Cost of Renting (Source: KCM Blog)

The Increasing Cost of Renting (Source: KCM Blog)

Historically, the average rental price has increased over time — a trend likely to continue going into the future. A fixed rate mortgage allows you to “lock in” a certain monthly cost for a specified period of time. If your situation allows you to buy, now is a good time to move from renting to owning. Read more on this topic at the KCM Blog here.

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If you’re thinking of selling your home on your own, here’s some important information to keep in mind:

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