Posts in Real Estate Trends (page 3)

Selling Real Estate Can be Based Alot on Presentation. Make Sure Your is Up to Par!

Are Your Sellers Kitchen Cleanliness Standards Driving Off Buyers?

When it comes to real estate selling, it’s easy for homeowners to overlook detritus. Dust-laden lights. Dirt-encrusted appliances. Countertop clutter. Over the years, all the issues within the home simply blend into the background. However, these issues shout out to buyers. The kitchen is the heart of the home. When it’s not looking its best, it can give potential buyers a heart attack – and send them screaming for an alternative place to shop.

When is it Time for the Seller to take Intervention?

If your listings are lagging, consider if kitchen cleanliness may be the cause. Always take action, informing sellers when you see these showing detractors:

Trash: Real estate selling 101 – Take the trash out. Its smell turns off buyers. If a home looks or smells unclean, buyers will assume it’s uncared for.

A Preponderance of ‘Stuff’: The kitchen tends to be ground-zero for stockpiled stuff. Cohabitating with clutter may be just fine for homeowners, but it detracts from the home, making the kitchen look small and useless.

Animal Stuff: Fecal-containing ‘potty pads’ and litter boxes send buyers for-the-hills.

Weird Stuff: Hair salon chairs, exercise bikes, and taxidermy supplies do NOT belong in the kitchen. If it’s not what Martha Stewart would showcase in her kitchen, clear it out.

Grease Bombs: Fryers filled and coated in grease, grease-splattered hood ranges and walls, and the lingering scent of the drive-thru in the air do not make for a welcoming kitchen environment. A friendly gift of degreaser and a box of Magic Erasers may be in order.

Pests: Pest droppings = pest infestation. (Battling pests? Hide the evidence.)

Filthy Appliances: Buyers often take a peek in (and under) appliances to gauge the level of care homeowners dedicate to home care.

Homes lingering on the market? Don’t let your turnaround times take a hit. Step-up your game with these and other real estate selling tips and technology from PropertiesOnline today.

Real Estate Hot Spots... Are You In One?

Are You Selling in a Known Hot Spot for Real Estate?

Home sales prices are at an all-time record. Are real estate trends in your area pointing to a hot market?

Where Home Sellers are Seeing the Biggest Returns

1. Bridgeport, Connecticut

Fairfield County is seeing large gains in property values, with a 14% annualized return across the market. With a median list price of $789,100, returns are being realized from luxury communities such as Greenwich (median-$1.9-million), to less affluent Bridgeport (median-$199,000).

2. Detroit, Michigan

The Great Recession hit Detroit hard. In recent years, revitalization efforts have this market on the upswing, with younger buyers flocking to a market with a $260,000 median list price and realizing a 12% returns.

3. Seattle, Washington

Lucrative tech jobs in Seattle have resulted in fierce competition in this market, which has a median list price of $582,400 and returns of 12%.

4. San Jose, California

High-paid techies and venture capitalists in this market have it pushing a median list price of $1,240,300, and returns of 12%. Home to companies like Apple, even vacant lots in this market are going for $1-million+.

5. Palm Bay, Florida

In high-demand by Baby Boomer retirees and 45-minute drives to Orlando, Palm Bay is also attracting buyers looking for a lower price tag, with a $270,000 median versus Orlando’s $318,500.

6. Denver, Colorado

With a median price of $467,600, the Denver market is ‘growing’ alongside its cannabis-industry counterpart.

7. Providence, Rhode Island

Hot! 51% lower listing prices than Boston and median price of $350,000.

8. Boston, Massachusetts

A skintight market – median prices running $529,100.

9. Nashville, Tennessee

A surplus of jobs in this music hub are pushing the market higher, with a median price of $368,000 and 10% return.

10. Portland, Oregon

Buyers fleeing expensive markets like San Francisco and Seattle are flocking to this nearby market, with its median price of $477,500.

Stay on top of real estate trends you can count on with help from Properties Online.

Tips On Guiding Your Listing to Pay the Buyers Closing Costs

Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Dual agency real estate transactions are often confusing for clients, and come with a number of significant benefits and drawbacks. Left unaddressed, misunderstandings arising from a dual agency transaction can leave behind a bad taste, especially in those situations where things go awry. If dual agencies are legal in your state, here’s how to come out on top without getting any egg on your face.

Addressing the Conflict of Interest Conundrum

Though playing both sides does streamline the process and minimize communication delays, dual agency real estate has some significant gray areas, which are important to explain to clients to keep things on the up-and-up:

– Advice

Because buyers want the lowest price, and sellers the highest, dual agents cannot take sides or give advice. Instead you’re more like a parent, you love both kids, and want to make sure the outcome of the situation is fair.

– Checks/Balances

There’s no one to catch it if you miss things, as you’re running both sides. And because you’re human, mistakes will inevitably occur.

Pointing out the Pros

That said, dual agency real estate isn’t all bad. There are also many benefits that should likewise be pointed out to potential clients:

– Full disclosure

Dual-agent/broker scenarios must be disclosed/consensual, and can’t occur behind the scenes.

– Potential savings

Dual agency real estate allows for potential savings in commission fees if the same person plays the seller and buyer’s agent, reducing fees.

– Increased potential access to properties

In large brokerages, who house a number of agents forming a different kind of dual agency scenario, sellers have more access to potential buyers, and vice-versa.

– More streamlined sales

A single entity makes communication issues moot. Communication between parties is timely and the process more streamlined with a single agency in charge of scheduling paperwork and deadlines.

Help your dual agency do double duty. Up your game with tools and technology from Properties Online today­.

Real Estate Home Sales Are Hot! What's Up for the Rest of 2018?

Real Estate Home Sales Are Hot! What’s Up for the Rest of 2018?

What’s driving today’s real estate trends? Driven by low home inventory, new home sales are hot, with sales rising 6.7% in May despite extraordinarily high selling prices. This tops the far more conservative estimate of a 0.9% increase expected by economists at the Wall Street Journal.

Have We Surpassed Elevated Levels Seen Before the 07-09 Mortgage Crisis?

New home sales still remain well beyond such levels, and are up 14.1% compared to new home sales last May.

What Areas are Seeing the Greatest Growth?

Sales in the South are driving last month’s numbers, with the region experiencing a 17.9% increase in new home sales. Elsewhere in the Midwest, May sales were flat, and in the Northeast and Northwest, new home sales declined.

Will this Trend in New Home Sales Continue?

Expectations of single-family home sales by builders fell two-points in June according to the recent NAHB housing market index. Further economic growth, the creation of more jobs, and a solid housing demand, however, are expected to spur construction of more single-family homes in the months ahead.

What About Pre-Owned Homes?

Compared to sales in the first 4-5 months last year, 2018 sales of pre-owned homes have remained neutral.

How are Complications in the Sales Arena Playing a Role?

It’s commonly seen in real estate trends for low inventory to inflate prices, driving buyers out of the market, and we’ve been seeing that for quite some time now. But this isn’t the only factor complicating purchases. Mortgage interest rates rose to 4.59% in May, up more than half a point from January’s 4.03%. Labor is scarce, and lumber prices at record-highs, adding almost $9,000 to the cost of new single family homes since January of 2017. All-in-all, a harrowing time for making a home purchase.

Are you making the most of today’s hot housing market? Heat up your sales with the latest real estate trends and technology from Properties Online today­.

November May Just End Up Being Your Best Month

Tips On Helping Your Buyers Make an Attractive and Winning Bid

Buyers love to lowball with abandon in their attempt to score a deal. But that’s not always a winning tactic in every market. In today’s real estate selling tips, we’ll look at when lower offers are acceptable, and ways you can help your buyer find the happy medium between a good deal and a grossly offended seller when they’re not.

The Market Largely Determines Offer Flexibility

In a seller’s market, it pays to gently remind tight-fisted buyers a lowball offer could lose them a home, especially in bidding war scenarios, where sellers will be quick to drop offensive offerors. In a strong seller’s market, going in at list price on a fairly valued home can get the sale. Buyer’s markets, however, provide a lot more flexibility on price due to high inventory and sales lag times, making a low starting offer a more acceptable practice.

Lagging List Times Point to Potential for Below Asking Price Offers

Long listing times give buyers the upper hand. Six-months to one-year on the market, with multiple price reductions – roll the dice with a low, but not insulting offer. Real estate selling tips point to no more than 25% below listing. However, if a home’s been listed only a few days or weeks, explain to buyers this is not the time for a lowball offer on a dream home.

Determine Wiggle Room

After discussing the above factors with buyers, further showcase the sales of similar homes in the area to point them in the right direction. When determining prime asking price, however, don’t neglect to factor-in how badly buyers want the home. Is it worth it to lose out for the opportunity of saving? At the end of the day, it’s essential to help buyers understand submitting a lowball offer is ultimately a gamble.

Make a good bet. Cinch your next home sale with the real estate selling tips and tech from PropertiesOnline today.