Archive for the ‘Trends in real estate homes’ Category

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Looks matter…

May 7, 2011

I am preparing to sell my parent’s villa-style retirement home and I am getting ready to set the “stage” with color, light and stunning furniture & accessories. All this for a home that will sell under $200K. But I know in doing so – I’ll sell it faster than my competitors.

Why do I do this? Because in today’s real estate world – looks matter. They matter more than ever. I have noticed that you can show buyers great values but if the homes are ugly, dirty, smelly or just not exciting, then they won’t sell. Buyers want something pretty and they don’t want to do anything to make it pretty. They are looking for inherited pretty.

I recently had someone submit a contract on one of my listings where they asked for ALL the furniture and accessories in the home to be included in the purchase price. While this may be extreme, it further validates my belief that a visually stunning home will sell faster than a home without decorating. Buyers want it all.

There will always be investors looking for great buys. But investors are now buying dumps and turning them into show homes with staged furniture. It’s more common than ever and a smart move for savvy sellers. Have you noticed that even foreclosed homes are now getting a facelift and banks are reaping the benefit with higher sales prices?

So for anyone who wants to improve their chances of getting a home sold? Call in a decorator and get that home in show shape. It makes a difference.

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Generational real estate selling and other minsinformation.

April 28, 2011

We live in a time when people want quick answers and quick resolutions to all their questions. How many times a day do you see articles with “Five ways to Happiness” or “Seven steps to selling your home”? Here’s a fact: there aren’t any quick or fast steps to doing anything. It’s just the use of a catch phrase to get your attention. Imagine how great life would be if we could solve things in three easy steps? It just not that simple.

One of the main things I see is that realtors are being misled to believe that their clients are now internet social butterflies and that so much business is done via the web. This is simply not true. While more than 80% may look on the web for a home; the majority of individuals still rely on word-of-mouth or personal relationships to find a realtor to assist them. For instance, a recent fact published by the American Affluence Research Center reflects that only 12.5% of affluent clients even use social media. That’s not very good odds for those seeking to attract the luxury market via the web, through Facebook or other social networking venues.

The other common mistake I see in today’s real estate world is labeling clients. Of course, you know about “boomers” but now we have the newest which is the Millenial generation. The Millenial Generation was born between 1977 and 1998 and has approximately 75 million members. REALTORS are being led to believe that this age group is the next big wave of buyers. Let me assure you – I don’t see this happening. Why? Because I personally have millenials (with college degrees) living under my roof and they can’t find jobs that pay enough to afford a home. Fact: College degrees don’t guarantee a high-paying job thereby making home ownership affordable. I have friends who also have children who graduated college, who are hard-working and driven BUT who are also waiting tables and working part-time at corporations just to get an opportunity for full-time employment. Where do they live? At home with their parents! In addition, many of my friends have not only their grown children living at home but also their parents. These are the people who are helping to support the Millenials. I wish more people would write about that fact.

Millenials and Gen “X” and “Y” are watching the world economy in turmoil and they are scared for their future. I’m not sure they see the value in home ownership and they may just wait it out for a few years and see how the United States government (and lending instituions) respond to our economic crisis.

What is factual? At the end of the day it is still about relationships. Get out from behind your computer and meet people. Stay in touch with friends and former clients. While I personally have a blog, Facebook page and I tweet like a maniac, I do so for fun. I don’t expect business to boom because I do all my social networking. People will buy homes because they need a place to live. But as for me – know any investors or better yet – let’s do lunch?

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What’s behind door number ??????????????

February 1, 2011

There was a popular game show once that gave contestants the option to pick door number one, two or three to gamble on attaining a prize. Sometimes it was a car and sometimes it was a donkey. It was all about a game of chance and whether the contestant would win a grand prize or a booby prize.

Well…welcome to real estate in 2011. We have options but some are grand and some are not so grand. It all depends on what we are going to pick.

Through one door is the road to recovery with lenders writing loans, revamped credit scoring system and someone realizing that trying to negotiate settlement on loans is better than foreclosing on half of American homeowners?

Yet another door is this constant tease of do we foreclose or not because the court system has reacted in a crazy manner to the even more INSANE behavior of attorneys in the foreclosure process. We are witnessing – for the first time in recent history – the complete and absolute breakdown of our judicial system and the ethics of the legal profession. Insanity reigns.

Finally we have the banks. I could write a massive epistle on the sins of our lending institutions. From a real estate perspective, it seems no one knows what they are doing when it comes to banking. Even bankers are in a flux with the Mortgage Banking Association strategically defaulted on their own office building. No one in the news seems to discuss this very much. Oh the irony! In other words, the main organization that represents the banking industry walked away from their debt rather than repay their own bank loan.

I don’t know which door to pick because I don’t know if we have a sane person left running the (a) our country, (b) banks or (c) Wall Street. From my perspective, it all looks like a booby prize right now behind doors one, two or three. Won’t someone prove me wrong?

http://online.wsj.com/article/SB10001424052748704829704575049111428912890.html

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From Hummer to Hybrid – Home Trends in the Future

January 7, 2009

 

 

 

 

Real estate is evolving and changing. We are going from Hummer to Hybrid when it comes to homes. The next few years you are going to see a lot of homeowners who are CONTENT and HAPPY with smaller homes, smaller yards and a hybrid type of home.

What is a hybrid home? It is a house that won’t take as much of your hard-earned money to heat and air condition. It is a home that doesn’t have a huge water guzzling yard and a home that is energy efficient. The next generation does not appear to be going toward the bigger is better concept. They like understated elegance and eco-friendly homes.

It’s going to be a gas (pardon the expression) to watch this trend unfold!