Posts Tagged ‘Home Buying’

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Homes Sales Up in Almost Every Price Range

June 15, 2015

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The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-10.1%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength of the market. Every other category showed a minimum increase of at least 9%, with sales in the $250,000- $500,000 range up 21.2%!
Here is the breakdown:

Sales-Up-STMWhat does that mean to you if you are selling?
Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your agent and see if it is priced appropriately to compete in today’s market.

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The Art of Real Estate (or any type of) Negotiation

March 19, 2013

In my mind, a successful negotiation is not where one side has pulverized the other. You don’t “win” a negotiation; you get the best possible outcome for your clients while doing the least harm. No one should leave a negotiation angry. After all, you never know when you might have to negotiate with the same people again.  When it comes to negotiating on behalf of my clients, I keep the following in mind:

 

Set the stage: I like a location that’s quiet, neutral, pleasant, and away from distractions and confusion.  It’s best if everyone turns off their devices, and refrains from calls or texts during negotiations.

 

Be prepared: I never enter without my homework. I verify any outstanding facts before the negotiation begins. (Later fact-finding can cause a negotiation to bog down!)

 

Present a united front: I represent clients and have been hired to act on their wishes. At times I may not agree with their position, but I never share that with the other side. If I feel a client’s position is less than optimal, I only discuss it with them in private

 

Leave attitudes at the door: It’s very simple… treat everyone in the negotiation with respect, regardless of personal opinions. If anyone disagrees, disagree with the idea, not the person.

 

Watch non-verbal cues and body language: (Sorry, but I can’t reveal all of my secrets here… suffice it to say I take it all in!)

 

Hold something in reserve: I discuss concessions with my clients beforehand and only offer these concessions when we absolutely need to concede something.

 

I don’t harp about points that don’t matter to my clients: Negotiations should never choke over a minor point.  I like to get agreement on major points such as price and terms and put lesser items aside to return to later.

 

Never volunteer too much information: Knowledge is power in a negotiation. Telling the other side any information, however insignificant seeming, could weaken my clients’ position. On the other hand, I learn as much about the other side as I can.

 

If you ever need someone on your side in a real estate negotiation, feel free to contact me directly: 407-925-7721 (Cell or Text) or lindahutchinson@msn.com.

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Just do it…

April 6, 2011

There was an ad campaign by a major brand that encouraged buyers to “Just do it” – basically encouraging people that by buying their product, they could exceed their personal goals and do great things in a sporting world.

It’s time for real estate buyers to realize that they should “just do it” and buy property. Prices right now are so ridiculously low that it’s laughable and yet people are still sitting around waiting for…well, I don’t know what they are waiting for. There simply is NOT a better time to buy real estate.

I have never seen homes priced so low that you could afford cash for many home and in fact, most of my transactions to date have been with CASH buyers. It’s a new world and a new day and it’s time to get off that darn fence and BUY PROPERTY. If nothing else, the fact that over 60% of people in the future are predicted to be renters, buy rental property.

Don’t say I didn’t warn you when things turn and they WILL turn. Things always change and you will regret not making some great decisions right now. Call me if you want me to explain it to you in detail.  Just do it!

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A word of Caution to Buyers – Don’t Wait!

August 5, 2009

Buyers shouldn’t wait on falling prices

NEW YORK – Aug. 5, 2009 – Fear of overpaying for property is common these days, especially in places where prices continue to be unstable. If you encounter potential buyers afraid to commit based on a fear that they’ll pay too much, point out these factors:

• Waiting for the right time can be expensive. Some buyers would have more equity today, despite falling prices, if they had bought when they first considered it instead of continuing to pay rent.
• Financing is fickle. Some people who were highly qualified last year can’t find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower.
• Interest rates are headed up. If prices decline by another 10 percent but interest rates increase by 1 percentage point, the monthly payment will be the same.

Source: The Wall Street Journal, Douglas Heddings (07/27/2009)

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Don’t worry…be happy

January 17, 2009

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A client asked me today when he was going to hear some good news. When was he going to hear something positive about the real estate market? He was tired of hearing that his home isn’t selling because no one is buying. I feel his pain.

But here’s some simple truths. There is good news. It’s the old silver lining in every cloud syndrome and I think it bears repeating.

1. THINGS WILL GET BETTER. Once we work our way out of this (and I think it will be sooner than later) – the housing industry WILL recover and we will have a stable and secure real estate market. Will it happen tomorrow? Unlikely.  But could it happen THIS YEAR? Very likely.

2. HOUSING IS STILL A GREAT BUY. Rates are ridiculously low and prices are even lower. If you EVER wanted to own a home – buy now. BUY…BUY…BUY. Homes are listed at crazy low prices. I can tell you this, investors are buying and they are going into the rental market. Smart people see the opportunities. Other people see problems. Be smart!

3. ENJOY YOUR HOME. Life is not only about the bottom line. If you loved your house before…you will still love it now even if it isn’t worth as much. It’s STILL YOUR HOME.

4. LEARN TO COPE. Life has its ups and downs. Good times and bad times. But hey…we are still here, we still have a roof over our heads and the sun will come up tomorrow. Enjoy.

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Don’t miss it…good real estate buys won’t last

December 21, 2008

 

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When I was in high school we travelled to Washington, DC for a week-long field trip to see our nation’s capital. It was fun, exciting and VERY exhausting. We visited many museums, historic sites, the House and Senate chambers, met with a Supreme Court Justice and travelled to the Washington and Lincoln memorials.

But while we were at the National Mall, I was very weary and after walking from the Washington Memorial to the next set of seemingly unending stairs, I sat down and closed my eyes. I NEVER looked back or turned around. I just sat. What did I miss? I missed the Lincoln Memorial. Never saw it, didn’t realize what I was missing until it was too late.

I am sure you are wondering what does this have to do with real estate…and that would be a good question.

We are all weary and we are all worn out and sometimes you get so tired you lose your ability to think and see clearly. If home buyers don’t wake up they are going to miss out on the best OPPORTUNITY ever to purchase homes at all-time low prices at all-time low interest rates. People…it doesn’t get any better than this. OPEN YOUR EYES – look around you. This is a GREAT TIME TO BUY A HOME.

The bottom IS HERE and it’s TIME TO BUY. Don’t sit back and relax – find the right home for you and buy it NOW.