Battle of the Bank Buybacks - Part II
http://ping.fm/vlD3t
Tuesday, December 21, 2010
Monday, December 20, 2010
5 Reasons to Sell Your Home Today!
1.This time of year provides fewer “lookers” and more serious, motivated “buyers” resulting in
better showings and better offers.
2. Sell now and beat the rush of inventory that will hit the market in spring. Every year there is an increase of inventory between January and April from sellers who decided to wait. You won’t have to worry about this increase in competition if you sell now.
3. If you’re moving up, you can save thousands! You
may have to discount to sell but keep in mind you
will probably receive a similar or greater discount
on your new, higher priced home, netting you
more in savings over the two transactions. Plus,
as home values appreciate, you’ll benefit from the
appreciation on a higher-priced home.
4. Interest rates are unlikely to go any lower. As
interest rates start to increase, the number of buyers will decrease. Lower demand can result in longer selling times and lower prices.
5. Right now you have less “discounted” inventory
to compete with. Forecasts show that there are many bank-owned properties that have not hit the market yet. When they do, the increased inventory could force prices even lower.
1.This time of year provides fewer “lookers” and more serious, motivated “buyers” resulting in
better showings and better offers.
2. Sell now and beat the rush of inventory that will hit the market in spring. Every year there is an increase of inventory between January and April from sellers who decided to wait. You won’t have to worry about this increase in competition if you sell now.
3. If you’re moving up, you can save thousands! You
may have to discount to sell but keep in mind you
will probably receive a similar or greater discount
on your new, higher priced home, netting you
more in savings over the two transactions. Plus,
as home values appreciate, you’ll benefit from the
appreciation on a higher-priced home.
4. Interest rates are unlikely to go any lower. As
interest rates start to increase, the number of buyers will decrease. Lower demand can result in longer selling times and lower prices.
5. Right now you have less “discounted” inventory
to compete with. Forecasts show that there are many bank-owned properties that have not hit the market yet. When they do, the increased inventory could force prices even lower.
Sunday, December 19, 2010
Wednesday, December 8, 2010
10 Reasons to Buy- Get in touch with me TODAY!
Cell: 262-716-5149
Emal: tjakoblich@shorewest.com
Owning a home has been a part of the American Dream for decades. If you are still unsure,however, whether or not homeownership is the move for you, be sure to read these ten reasons to buy.
1. Low Interest Rates. It's true! Interest rates are currently at historical lows. This means over the course of your loan, you'll pay less interest. And it also means monthly payments will be a smaller, more manageable amount.
2. Mortgage Interest Deduction: While this deduction may not be available for much longer, for now you can still use this great tax advantage!
3. Stability: Studies have shown that homeownership not only increases community involvement, it also leads to safer neighborhoods, and higher graduation rates.
4. Affordability: Coupled with the low interest rates, affordability is the highest it's been in years. Prices fell in many areas and median incomes rose -- meaning you can get more bang for your buck.
5. Paying Towards Ownership. Instead of paying a landlord, you are making an investment in your future. Every month your payment goes towards something you'll eventually own and that will have worth and value. Renting only makes the landlord richer!
6. Appreciation: Average appreciation rates vary widely depending on the condition of the local market and demand, but anywhere from 4 to 6 percent annually is considered average. This means the longer you stay in your home, the more your home will be worth.
7. Home equity: This building of worth over time (see number 6) means that if you need to make improvements to your home, you will be able to tap into its equity to finance repairs and additions.
8. Gardening: Many households are embracing the organic movement, and families have begun again to raise their own food. Even the White House has its own victory garden. Owning your own home (in most cases) means you will have your own land to cultivate.
9. Roots: Young and old alike seek out places where they belong. Owning a property, and taking your first steps towards putting down roots, can mean the difference between a house and a home.
10. Monthly Payments: Once your home is paid off -- you won't have monthly payments anymore. Apart from insurance, property taxes, and repairs, monthly expenses are minimal. In today's market, many buyers are finding, as well, that their monthly house payments are less than what they'd pay in rent!
Cell: 262-716-5149
Emal: tjakoblich@shorewest.com
Owning a home has been a part of the American Dream for decades. If you are still unsure,however, whether or not homeownership is the move for you, be sure to read these ten reasons to buy.
1. Low Interest Rates. It's true! Interest rates are currently at historical lows. This means over the course of your loan, you'll pay less interest. And it also means monthly payments will be a smaller, more manageable amount.
2. Mortgage Interest Deduction: While this deduction may not be available for much longer, for now you can still use this great tax advantage!
3. Stability: Studies have shown that homeownership not only increases community involvement, it also leads to safer neighborhoods, and higher graduation rates.
4. Affordability: Coupled with the low interest rates, affordability is the highest it's been in years. Prices fell in many areas and median incomes rose -- meaning you can get more bang for your buck.
5. Paying Towards Ownership. Instead of paying a landlord, you are making an investment in your future. Every month your payment goes towards something you'll eventually own and that will have worth and value. Renting only makes the landlord richer!
6. Appreciation: Average appreciation rates vary widely depending on the condition of the local market and demand, but anywhere from 4 to 6 percent annually is considered average. This means the longer you stay in your home, the more your home will be worth.
7. Home equity: This building of worth over time (see number 6) means that if you need to make improvements to your home, you will be able to tap into its equity to finance repairs and additions.
8. Gardening: Many households are embracing the organic movement, and families have begun again to raise their own food. Even the White House has its own victory garden. Owning your own home (in most cases) means you will have your own land to cultivate.
9. Roots: Young and old alike seek out places where they belong. Owning a property, and taking your first steps towards putting down roots, can mean the difference between a house and a home.
10. Monthly Payments: Once your home is paid off -- you won't have monthly payments anymore. Apart from insurance, property taxes, and repairs, monthly expenses are minimal. In today's market, many buyers are finding, as well, that their monthly house payments are less than what they'd pay in rent!
Tuesday, December 7, 2010
Check out the launch of my new company fan page. Be sure to click like and support the new page! Jakoblich Investment Group LLC (JIG)
http://ping.fm/K1Yih
http://ping.fm/K1Yih
Check out the launch of my new company fan page. Be sure to click like and support the new page!
http://ping.fm/WU8zR
http://ping.fm/WU8zR
Thursday, October 21, 2010
Tuesday, September 7, 2010
Wednesday, September 1, 2010
Tuesday, August 31, 2010
Monday, August 30, 2010
Thursday, August 26, 2010
Tuesday, August 17, 2010
Monday, August 16, 2010
Friday, August 13, 2010
Friday, August 6, 2010
Wednesday, August 4, 2010
New Realities of Successful Online Marketing
The Internet has been the game-changer in real estate.
Be honest: did you ever think—back in 2005, even-- that more than 80% of all homes sales would begin on the Internet?
http://www.brokeragentsocial.com/article/843/new-realities-of-successful-online-marketing
The Internet has been the game-changer in real estate.
Be honest: did you ever think—back in 2005, even-- that more than 80% of all homes sales would begin on the Internet?
http://www.brokeragentsocial.com/article/843/new-realities-of-successful-online-marketing
Monday, August 2, 2010
Friday, July 30, 2010
Thursday, July 29, 2010
Wednesday, July 28, 2010
Wonder if you can afford to purchase a home? You will probably be surprised! Check it out here and call me with any questions!!
http://ping.fm/6WjRb
http://ping.fm/6WjRb
Tuesday, July 27, 2010
Take Advantage of This People!!
Interest rates were announced today and they are amazingly low!! 4.3% on a 30 year fixed! WOW! Please spread the word, as many friends and family as you know who may be in the market for a new home you MUST spread the word about these historically low rates! 7-8% used to be the "low" Well not anymore! On a 200,000 home at 7.5% interest would be a payment of 1,395$!!
With today's low low rates that same home would be 989$!!! A HUGE CHANGE! Don't wait! Spread the word today and have anyone who is interested contact me today!!!
Interest rates were announced today and they are amazingly low!! 4.3% on a 30 year fixed! WOW! Please spread the word, as many friends and family as you know who may be in the market for a new home you MUST spread the word about these historically low rates! 7-8% used to be the "low" Well not anymore! On a 200,000 home at 7.5% interest would be a payment of 1,395$!!
With today's low low rates that same home would be 989$!!! A HUGE CHANGE! Don't wait! Spread the word today and have anyone who is interested contact me today!!!
Monday, July 26, 2010
Friday, July 23, 2010
Thursday, July 22, 2010
Wednesday, July 21, 2010
Mortgage Applications Rise as Rates Stay Low
Applications to purchase homes rose 3.4 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the purchase index rose 15.3 percent compared with the previous week, but was down 35.7 percent compared to the same week a year ago.
This is only the second time in 10 weeks that purchase mortgage applications have increased.
“The strength in purchase applications comes from government loans, likely indicating that prospective buyers are drawn by the lower down payment requirements,†says Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates remained low:
• 30-year fixed-rate mortgages decreased to 4.59 percent from 4.69 percent.
• 15-year fixed-rate mortgages decreased to 4.05 percent from 4.12 percent.
• 1-year ARMs decreased to 7.17 percent from 7.20 percent.
Applications to purchase homes rose 3.4 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the purchase index rose 15.3 percent compared with the previous week, but was down 35.7 percent compared to the same week a year ago.
This is only the second time in 10 weeks that purchase mortgage applications have increased.
“The strength in purchase applications comes from government loans, likely indicating that prospective buyers are drawn by the lower down payment requirements,†says Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates remained low:
• 30-year fixed-rate mortgages decreased to 4.59 percent from 4.69 percent.
• 15-year fixed-rate mortgages decreased to 4.05 percent from 4.12 percent.
• 1-year ARMs decreased to 7.17 percent from 7.20 percent.
Seller Financing Can Have Tax Advantages
Offering to hold either a second mortgage or a primary mortgage in either a residential or a commercial sale can be a good deal for the seller.
The primary advantage is deferral of taxes due. Sellers are normally taxed as the principal is received, spreading the tax bill over several years, explains Richard Schank, a financial planner with PTS Brokerage in Mt. Laurel, N.J.
Other advantages can include:
· Support for a higher-than-average price.
· An interest rate that provides a relatively high return on investment.
The safest arrangement includes obtaining a deed in lieu of foreclosure from the buyer, which allows the seller to take back the property if the note isn’t paid in a timely fashion.
Source: Investor’s Business Daily, Jeff Schnepper (07/15/2010)
Offering to hold either a second mortgage or a primary mortgage in either a residential or a commercial sale can be a good deal for the seller.
The primary advantage is deferral of taxes due. Sellers are normally taxed as the principal is received, spreading the tax bill over several years, explains Richard Schank, a financial planner with PTS Brokerage in Mt. Laurel, N.J.
Other advantages can include:
· Support for a higher-than-average price.
· An interest rate that provides a relatively high return on investment.
The safest arrangement includes obtaining a deed in lieu of foreclosure from the buyer, which allows the seller to take back the property if the note isn’t paid in a timely fashion.
Source: Investor’s Business Daily, Jeff Schnepper (07/15/2010)
Tuesday, July 20, 2010
Waukesha Real Estate 7/20 Press Release Featuring Ty Jakoblich of Shorewest Realtors
http://ping.fm/iNePw
http://ping.fm/iNePw
Real Estate Press Release: Featuring Ty Jakoblich of Shorewest Realtors
Real Estate Press Release:
For Immediate Release: For Further Information Contact:
(7/20/2010) [Ty Jakoblich 262-290-5027]
Finding the Right Home
[Waukesha County, WI).] — With all the choices in today's market, how do you go about finding the right home? It seems the more research you do, the more alternatives you discover.
It's important to visualize your needs and plan ahead. "Know what you want in a home, what's important to you, and what you can live without,” Ty Jakoblich, Brokers Associate of Shorewest Realtors says. "Many of us start out with a champagne taste and a beer pocketbook, so it's important to be realistic,” he adds.
Where and what you buy will affect you for as long as you live in the house. "Get your priorities in order before you start looking or even talk to a real estate broker or sales associate,” Jakoblich says.
For first-time home buyers this is a new experience, so it's especially important to do your homework. If you currently own a home, you know exactly what's lacking. You may need another bedroom or bathroom, or a good school nearby.
First, decide where you want to live. A big part of the answer hinges on where and how you earn a living. If your job requires a lot of reading or is quite stressful, public transportation may offer valuable time to sit quietly. "Regardless, you should practice the commute in rush hour before you make a commitment. A seemingly quiet road can transform into gridlock during peak hours,” Jakoblich cautions.
People with children have other major considerations: school and safety. If you plan to send your children to private schools, you can live where you want assuming you can easily arrange transportation. On the other hand, a lavish public school system may indicate high local real estate taxes. Check them out.
Obviously, lifestyle is an important consideration. People who frequently dine out, go dancing and attend the theater probably belong in the city or a close-in suburb. "In other words, make sure you're in close proximity to the things that matter most,” Jakoblich says.
It used to be that homes came in a limited variety, but today, you have many choices. In addition to the traditional single-family home, you can buy a townhouse, condominium or apartment condominium or co-op.
In planned unit developments (PUDs), you can find almost any combination. In condos and other such communities, make sure the rules and regulations, as well as the by-laws, match your lifestyle. This type of housing is great for people who want to own their own space without being responsible for mowing the lawn or repairing the roof; a management company handles that.
On the other hand, you'll pay fees for these services. "In addition to checking the documents and financial soundness of the homeowner's association, you must determine if the monthly fees are worth the services and additional amenities such as a swimming pool or exercise room,” Jakoblich explains.
Affordability can be a factor not only in the type of housing, but whether it's new or an existing home. Old houses often have fine woodwork or interesting nooks and crannies not normally found in new homes. They generally sit on landscaped lots with mature trees and grown bushes.
New homes may cost more, but you can make many more decisions on amenities, colors, carpeting and fixtures. "Make sure you're dealing with a reputable builder, and have an attorney review all documents, Jakoblich says.
Selecting a real estate professional is an important first step in beginning your search. "Ask for personal recommendations to find an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service," Jakoblich says. Make sure you feel confident about his or her knowledge and skills, and understand the business relationship that you have established between you.
Ty Jakoblich is one of more than 50,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 50,000 active real estate professional members of the organization throughout the world.
[Waukesha Time’s Press Release (Ty Jakoblich).]
107
For Immediate Release: For Further Information Contact:
(7/20/2010) [Ty Jakoblich 262-290-5027]
Finding the Right Home
[Waukesha County, WI).] — With all the choices in today's market, how do you go about finding the right home? It seems the more research you do, the more alternatives you discover.
It's important to visualize your needs and plan ahead. "Know what you want in a home, what's important to you, and what you can live without,” Ty Jakoblich, Brokers Associate of Shorewest Realtors says. "Many of us start out with a champagne taste and a beer pocketbook, so it's important to be realistic,” he adds.
Where and what you buy will affect you for as long as you live in the house. "Get your priorities in order before you start looking or even talk to a real estate broker or sales associate,” Jakoblich says.
For first-time home buyers this is a new experience, so it's especially important to do your homework. If you currently own a home, you know exactly what's lacking. You may need another bedroom or bathroom, or a good school nearby.
First, decide where you want to live. A big part of the answer hinges on where and how you earn a living. If your job requires a lot of reading or is quite stressful, public transportation may offer valuable time to sit quietly. "Regardless, you should practice the commute in rush hour before you make a commitment. A seemingly quiet road can transform into gridlock during peak hours,” Jakoblich cautions.
People with children have other major considerations: school and safety. If you plan to send your children to private schools, you can live where you want assuming you can easily arrange transportation. On the other hand, a lavish public school system may indicate high local real estate taxes. Check them out.
Obviously, lifestyle is an important consideration. People who frequently dine out, go dancing and attend the theater probably belong in the city or a close-in suburb. "In other words, make sure you're in close proximity to the things that matter most,” Jakoblich says.
It used to be that homes came in a limited variety, but today, you have many choices. In addition to the traditional single-family home, you can buy a townhouse, condominium or apartment condominium or co-op.
In planned unit developments (PUDs), you can find almost any combination. In condos and other such communities, make sure the rules and regulations, as well as the by-laws, match your lifestyle. This type of housing is great for people who want to own their own space without being responsible for mowing the lawn or repairing the roof; a management company handles that.
On the other hand, you'll pay fees for these services. "In addition to checking the documents and financial soundness of the homeowner's association, you must determine if the monthly fees are worth the services and additional amenities such as a swimming pool or exercise room,” Jakoblich explains.
Affordability can be a factor not only in the type of housing, but whether it's new or an existing home. Old houses often have fine woodwork or interesting nooks and crannies not normally found in new homes. They generally sit on landscaped lots with mature trees and grown bushes.
New homes may cost more, but you can make many more decisions on amenities, colors, carpeting and fixtures. "Make sure you're dealing with a reputable builder, and have an attorney review all documents, Jakoblich says.
Selecting a real estate professional is an important first step in beginning your search. "Ask for personal recommendations to find an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service," Jakoblich says. Make sure you feel confident about his or her knowledge and skills, and understand the business relationship that you have established between you.
Ty Jakoblich is one of more than 50,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 50,000 active real estate professional members of the organization throughout the world.
[Waukesha Time’s Press Release (Ty Jakoblich).]
107
Monday, July 19, 2010
Mortgage Rates Stay Put
Rates on conventional mortgage loans were essentially flat this week, according to Freddie Mac. The average rate for 30-year fixed mortgages didn’t move from last week’s record-low figure of 4.57 percent.
Also, rates on 15-year fixed mortgages reached a new record low this week, falling slightly to 4.06 percent from 4.07 percent last week.
Rates on conventional mortgage loans were essentially flat this week, according to Freddie Mac. The average rate for 30-year fixed mortgages didn’t move from last week’s record-low figure of 4.57 percent.
Also, rates on 15-year fixed mortgages reached a new record low this week, falling slightly to 4.06 percent from 4.07 percent last week.
Friday, July 16, 2010
Thursday, July 15, 2010
Wednesday, July 14, 2010
Tuesday, July 13, 2010
Monday, July 12, 2010
Friday, July 9, 2010
Wednesday, July 7, 2010
Why it is the best time to Buy NOW!
Ty Jakoblich's "Buy Now" release:
For Immediate Release:
For Further Information Contact: Ty Jakoblich 262-716-5149
tjakoblich@shorewest.com
(7/7/10)
[Ty Jakoblich Affiliates]
Now Could Be the Time to Buy a Home
[Waukesha County, WI.]
The old adage “There’s no time like the present” might not first come to mind when looking at today’s national housing market. But according to [Ty Jakoblich, Brokers Associate] of Shorewest Realtors, these homespun words of wisdom are quite appropriate when a closer look is given to individual local markets across the country. Jakoblich points out these favorable factors that can contribute to making this, for many consumers, a most opportune time to buy a home:
• Inventory is up. When the market is hot, new listings can’t replenish the supply of homes fast enough, and that works in the sellers’ favor. In today’s market, the opposite is true, providing more choices for buyers.
• Sellers are motivated. Homes that in a hot market would have been snapped up in days are now lingering unsold for weeks, even months. Factor in bank-owned properties due to the recent and unfortunate spike in foreclosures and buyers find themselves in an advantageous negotiating position they haven’t enjoyed for years.
• Interest rates are down. Recent cuts in the prime rate by the Federal Reserve have sparked drops in interest rates, which at the end of January were below 6 percent for a 30-year fixed-rate mortgage. While banks have tightened lending requirements in the wake of increased loan defaults, homebuyers with few credit problems qualifying to purchase a home they can afford should still have little trouble securing favorable financing terms.
What’s more, a market climate like this especially favors buyers who don’t need to sell an existing property before their purchase, buyers like first-timers and those looking for a second home. This tilts the scale even more towards many buyers.
But regardless of the situation, for every buyer, the key is to work with a real estate professional that knows the local market and specializes in buyer representation – like an agent who has earned the Accredited Buyer’s Representative (ABR®) designation.
[Jakoblich] is one of more than 50,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 50,000 active real estate professional members of the organization throughout the world.
To find an ABR®-designated agent near you, and to receive a free copy of the REBAC-published Homebuyer’s Toolkit, visit http://www.facebook.com/TyJakoblichsRealEstate101.TheKnowHow or call 262-574-2072.
For Immediate Release:
For Further Information Contact: Ty Jakoblich 262-716-5149
tjakoblich@shorewest.com
(7/7/10)
[Ty Jakoblich Affiliates]
Now Could Be the Time to Buy a Home
[Waukesha County, WI.]
The old adage “There’s no time like the present” might not first come to mind when looking at today’s national housing market. But according to [Ty Jakoblich, Brokers Associate] of Shorewest Realtors, these homespun words of wisdom are quite appropriate when a closer look is given to individual local markets across the country. Jakoblich points out these favorable factors that can contribute to making this, for many consumers, a most opportune time to buy a home:
• Inventory is up. When the market is hot, new listings can’t replenish the supply of homes fast enough, and that works in the sellers’ favor. In today’s market, the opposite is true, providing more choices for buyers.
• Sellers are motivated. Homes that in a hot market would have been snapped up in days are now lingering unsold for weeks, even months. Factor in bank-owned properties due to the recent and unfortunate spike in foreclosures and buyers find themselves in an advantageous negotiating position they haven’t enjoyed for years.
• Interest rates are down. Recent cuts in the prime rate by the Federal Reserve have sparked drops in interest rates, which at the end of January were below 6 percent for a 30-year fixed-rate mortgage. While banks have tightened lending requirements in the wake of increased loan defaults, homebuyers with few credit problems qualifying to purchase a home they can afford should still have little trouble securing favorable financing terms.
What’s more, a market climate like this especially favors buyers who don’t need to sell an existing property before their purchase, buyers like first-timers and those looking for a second home. This tilts the scale even more towards many buyers.
But regardless of the situation, for every buyer, the key is to work with a real estate professional that knows the local market and specializes in buyer representation – like an agent who has earned the Accredited Buyer’s Representative (ABR®) designation.
[Jakoblich] is one of more than 50,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 50,000 active real estate professional members of the organization throughout the world.
To find an ABR®-designated agent near you, and to receive a free copy of the REBAC-published Homebuyer’s Toolkit, visit http://www.facebook.com/TyJakoblichsRealEstate101.TheKnowHow or call 262-574-2072.
Tuesday, July 6, 2010
Monday, July 5, 2010
6 Reasons to Reduce Your Home Price
While you’d like to get the best price for your home, consider our six reasons to reduce your home price.
If you don't receive any offers for a few weeks, check out other comparable houses on the market and what they're going for. Image: Liz Foreman
Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.
These six signs may be telling you it’s time to lower your price.
1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.
2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.
3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.
4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.
5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.
6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.
While you’d like to get the best price for your home, consider our six reasons to reduce your home price.
If you don't receive any offers for a few weeks, check out other comparable houses on the market and what they're going for. Image: Liz Foreman
Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.
These six signs may be telling you it’s time to lower your price.
1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.
2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.
3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.
4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.
5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.
6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.
Friday, July 2, 2010
WASHINGTON --
A weak June jobs report offered the latest evidence that the economic recovery is slowing.
Employers cut 125,000 jobs last month, the most since October, the Labor Department said Friday. The loss was driven by the end of 225,000 temporary census jobs. Businesses added a net total of 83,000 workers, the sixth straight month of private-sector job gains but not enough to speed up the recovery.
Unemployment dropped to 9.5 percent - the lowest level since July 2009 - from 9.7 percent. But the reason for the decline was more than 650,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed.
The latest figures suggest businesses are still slow to hire amid a weak economic recovery. Many economists were hoping to see more private-sector job growth, which would fuel the economy by boosting consumers' ability to spend.
"It could have been worse, but it wasn't good," said Nigel Gault, chief U.S. economist at IHS Global Insight, an economic forecasting firm. "It's adding to the evidence that growth has slowed."
People left the work force "because they think there's nothing out there," he added.
In a separate report, factory orders fell by 1.4 percent in May, the Commerce Department said. It was the first decline after nine months of gains and the biggest drop since March 2009.
The reports follow a slew of data and developments this week that point to slower growth in the months ahead.
In May, home sales plunged and construction spending dropped after a popular homebuyers' tax credit expired on April 30. Consumer confidence has fallen sharply. The European debt crisis has sent U.S. financial markets downward, lowering household wealth. And more than a million jobless Americans have been cut off from unemployment benefits after Congress adjourned for a weeklong Independence Day recess without extending federal aid.
President Barack Obama said the economy is moving in the right direction, but not quickly enough. He seized on the latest data to push for more government stimulus - including the extension of jobless benefits - to aid the recovery.
"We're not headed there fast enough for a lot of Americans," Obama said. "We're not headed there fast enough for me, either."
The unemployment rate and payroll figures can sometimes move in different directions because they are calculated from different surveys. The jobless rate is derived from a survey of households, while the payroll calculation is drawn from a separate survey of businesses.
The nation still has 7.9 million fewer private payroll jobs than it did when the recession began. The private sector has added an average of 98,000 jobs per month since the beginning of the year. At that rate, it would take nearly seven years to regain the jobs lost during the recession.
It takes about 100,000 new jobs a month to keep up with population growth. The economy needs to create jobs at least twice that pace to quickly bring down the jobless rate.
All told, 14.6 million people were looking for work in June. Counting those who have given up their job searches and those who are working part time but would prefer full-time work, the underemployment rate edged down to 16.5 percent from 16.6 percent in May.
Manufacturers, which have been a key source of job growth in the recovery, are hiring fewer people. Factories added 9,000 jobs in June, down from 32,000 in May and the lowest gain this year.
The leisure and hospitality industries, temporary staffing agencies, and education and health services providers also added jobs. Retailers, construction firms and financial service providers cut payrolls.
Private employers added only 33,000 jobs in May, the department said, below an earlier estimate of 41,000. April private-sector payrolls were revised up to show a total gain of 241,000 jobs, higher than the earlier estimate of 218,000.
The Census Bureau added more than 400,000 workers in May to assist with the 2010 employment count, but most of those jobs lasted only six to eight weeks. Economists expect that census layoffs will impact the payroll data for several more months, but not by nearly as much.
The average work week shortened to 34.1 hours from 34.2, the government said, a disappointing drop after three months of gains. Hourly wages also fell by two pennies to $22.53. The declines mean workers earned less money in the last month.
In addition, the drop in hours is a bad sign because employers are likely to cut hours for their current workers before reducing payrolls.
The employment report comes after Congress adjourned Thursday for the weeklong Independence Day recess without extending jobless aid. That has already left 1.3 million people without benefits. Senate Republicans blocked the extension, citing concerns over the federal deficit. That total number of Americans cut off from benefits could grow to 3.3 million by the end of this month if the impasse isn't resolved when Congress returns
A weak June jobs report offered the latest evidence that the economic recovery is slowing.
Employers cut 125,000 jobs last month, the most since October, the Labor Department said Friday. The loss was driven by the end of 225,000 temporary census jobs. Businesses added a net total of 83,000 workers, the sixth straight month of private-sector job gains but not enough to speed up the recovery.
Unemployment dropped to 9.5 percent - the lowest level since July 2009 - from 9.7 percent. But the reason for the decline was more than 650,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed.
The latest figures suggest businesses are still slow to hire amid a weak economic recovery. Many economists were hoping to see more private-sector job growth, which would fuel the economy by boosting consumers' ability to spend.
"It could have been worse, but it wasn't good," said Nigel Gault, chief U.S. economist at IHS Global Insight, an economic forecasting firm. "It's adding to the evidence that growth has slowed."
People left the work force "because they think there's nothing out there," he added.
In a separate report, factory orders fell by 1.4 percent in May, the Commerce Department said. It was the first decline after nine months of gains and the biggest drop since March 2009.
The reports follow a slew of data and developments this week that point to slower growth in the months ahead.
In May, home sales plunged and construction spending dropped after a popular homebuyers' tax credit expired on April 30. Consumer confidence has fallen sharply. The European debt crisis has sent U.S. financial markets downward, lowering household wealth. And more than a million jobless Americans have been cut off from unemployment benefits after Congress adjourned for a weeklong Independence Day recess without extending federal aid.
President Barack Obama said the economy is moving in the right direction, but not quickly enough. He seized on the latest data to push for more government stimulus - including the extension of jobless benefits - to aid the recovery.
"We're not headed there fast enough for a lot of Americans," Obama said. "We're not headed there fast enough for me, either."
The unemployment rate and payroll figures can sometimes move in different directions because they are calculated from different surveys. The jobless rate is derived from a survey of households, while the payroll calculation is drawn from a separate survey of businesses.
The nation still has 7.9 million fewer private payroll jobs than it did when the recession began. The private sector has added an average of 98,000 jobs per month since the beginning of the year. At that rate, it would take nearly seven years to regain the jobs lost during the recession.
It takes about 100,000 new jobs a month to keep up with population growth. The economy needs to create jobs at least twice that pace to quickly bring down the jobless rate.
All told, 14.6 million people were looking for work in June. Counting those who have given up their job searches and those who are working part time but would prefer full-time work, the underemployment rate edged down to 16.5 percent from 16.6 percent in May.
Manufacturers, which have been a key source of job growth in the recovery, are hiring fewer people. Factories added 9,000 jobs in June, down from 32,000 in May and the lowest gain this year.
The leisure and hospitality industries, temporary staffing agencies, and education and health services providers also added jobs. Retailers, construction firms and financial service providers cut payrolls.
Private employers added only 33,000 jobs in May, the department said, below an earlier estimate of 41,000. April private-sector payrolls were revised up to show a total gain of 241,000 jobs, higher than the earlier estimate of 218,000.
The Census Bureau added more than 400,000 workers in May to assist with the 2010 employment count, but most of those jobs lasted only six to eight weeks. Economists expect that census layoffs will impact the payroll data for several more months, but not by nearly as much.
The average work week shortened to 34.1 hours from 34.2, the government said, a disappointing drop after three months of gains. Hourly wages also fell by two pennies to $22.53. The declines mean workers earned less money in the last month.
In addition, the drop in hours is a bad sign because employers are likely to cut hours for their current workers before reducing payrolls.
The employment report comes after Congress adjourned Thursday for the weeklong Independence Day recess without extending jobless aid. That has already left 1.3 million people without benefits. Senate Republicans blocked the extension, citing concerns over the federal deficit. That total number of Americans cut off from benefits could grow to 3.3 million by the end of this month if the impasse isn't resolved when Congress returns
Thursday, July 1, 2010
Help us support the Freedom for Hunger cause! Bill Oliver of Dream Catcher Home Inspections will donate 25$ on every inspection done by a Shorewest Realtor!! What a guy!
Contact Bill for ALL your home inspection needs at:
262-650-9786 office
414-339-1876 vm
Website: http://ping.fm/Q2uxQ
Contact Bill for ALL your home inspection needs at:
262-650-9786 office
414-339-1876 vm
Website: http://ping.fm/Q2uxQ
More Updates Following the Tax Credit. (Flood Insurance Extension)
Flood Insurance Extension- The Senate has passed HR 5569 which extends the National Flood Insurance Program until September 30, 2010. The bill is retroactive from June 1, 2010 to the date the President also signs this bill.
We had been at a point where getting flood insurance on properties was next to impossible.
USDA- There is still no decision on the USDA extension. They are concerned about the 100% financing. More to come on this after the July 4th recess.
We had been at a point where getting flood insurance on properties was next to impossible.
USDA- There is still no decision on the USDA extension. They are concerned about the 100% financing. More to come on this after the July 4th recess.
Tax Credit Extension Passes!!
After a close brush with the deadline, Congress has passed an extension
of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance
and Improvement Act (H.R. 5623). The extension applies only to
transactions that have ratified contracts in place as of April 30, 2010
that have not yet closed. The legislation is designed to create a
seamless extension the new closing deadline for eligible transactions is
now September 30, 2010. There will be no gap between June 30 and the
date the President signs the bill into law.
NAR worked closely with Congressional leaders on both sides of the aisle
to enact this important legislation. Extending the Tax Credit Closing
deadline will help provide additional stability to real estate markets
across the nation.
The GMAR sent out a notice earlier that the credit had failed to pass. The bill that failed to pass (HR 4213) was an unemployment bill with the tax credit as an amendment. H.R. 5623 was a standalone bill. We apologize for any confusion.
of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance
and Improvement Act (H.R. 5623). The extension applies only to
transactions that have ratified contracts in place as of April 30, 2010
that have not yet closed. The legislation is designed to create a
seamless extension the new closing deadline for eligible transactions is
now September 30, 2010. There will be no gap between June 30 and the
date the President signs the bill into law.
NAR worked closely with Congressional leaders on both sides of the aisle
to enact this important legislation. Extending the Tax Credit Closing
deadline will help provide additional stability to real estate markets
across the nation.
The GMAR sent out a notice earlier that the credit had failed to pass. The bill that failed to pass (HR 4213) was an unemployment bill with the tax credit as an amendment. H.R. 5623 was a standalone bill. We apologize for any confusion.
Wednesday, June 30, 2010
Communicating with Difficult Clients
Difficult Clients -- You know who they are.
When your Difficult Client’s number appears on your cell phone or their email address pops up in your inbox, your stomach clenches in anticipation of an unpleasant exchange to come. Your Difficult Clients are always angry, upset, or complaining, and nothing you do or say seems to please them. You’re at your wit’s end, and you can’t remember why you agreed to work with them in the first place!
It’s time to shift into Difficult Clients Mode. Instead of casual conversation, use the points below to script your arguments before delivering them. Complete a first draft, let it sit a few hours or overnight, and then fine-tune the wording carefully.
First, remove the first person singular pronouns (I, me, my, mine). Wherever possible, substitute your statements with the first person plural (we, us, our, ours). Using “we” reinforces the fact that you are all on the same team. So instead of, “I’ll get an answer to your request,” say “We’ll see how the buyers respond to our request.”
Another way to remove first person pronouns is to change to passive voice. So instead of “I presented your proposal but the Sellers said no,” say “Our proposal was rejected by the Sellers.”
Absolutely, you should use the first person singular when you make a promise, such as “I’ll have that information for you by five o’clock”; or when you accept personal responsibility and need to say, “I’m sorry.” In most other cases, however, you are better off leaving “I” out of your communication.
Without first person pronouns, you are less vulnerable to attack. Just using a rhetorical device like “I think,” or “I believe,” or “I’m afraid that,” can inspire a challenge from Difficult Clients. They might say, “On what authority do you think, believe, or fear?” In other words, “Who do you think you are?” Difficult Clients look for opportunities to challenge your competence and authority; it’s prudent to reduce those opportunities when you can.
Second, offer facts rather than opinions. Ugly truth sounds more palatable when it comes from an objective source, rather than inf the form of your personal thoughts or observations. Instead of, “I’m afraid sellers aren’t getting what they used to,” say, “In this market, homes can’t command the price they would have gotten three years ago.” Cite an authority if you can, and statistics are always good. You might say, “According to our MLS data, prices in this area have fallen 12.5% since the peak in 2006.”
Third, be as succinct as possible. Do not elaborate or explain. Avoid extraneous information, especially personal information. So instead of, “I can’t meet you tomorrow because it’s my wife’s birthday,” say, “Unfortunately, tomorrow won’t be possible. Let’s find a time later in the week.”
Fourth, don’t respond to “rabbit trails.” When an extraneous topic is introduced, say “I understand how you feel,” and then turn the conversation immediately back to the issue at hand. So if, during negotiations, your Difficult Client Seller wants to remind you (again) how much they paid to convert the basement, say “I understand how you feel. However, this is the first offer we’ve received and we need to decide how to respond.”
Fifth, focus on the benefits to them of compliance and the disadvantages to them of noncompliance. Difficult Clients have no interest in anyone else’s point of view. If you try to explain that their demands are unreasonable or unfair to the other party, you’ll find yourself accused of being “on their side.” Say “I know it’s less than you hoped for, but accepting this offer will mean that you can move forward with your plans. If you turn it down, we may wait a long time before we get another one.” Don’t mention all your hard work or the updates the buyer will have to pay for. Difficult Clients have only one perspective -- their own.
The last point is crucially important: Decline to participate in drama, verbal or written. Stay calm. Keep your face impassive and your mouth closed. Of course, this is easier said than done when you’re being attacked, but tantrums are hard to sustain when no one is fighting back. Don’t respond to accusations in writing; an email exchange will tend to escalate. Instead, pick up the phone and ask them to explain how they feel and why. Difficult Clients are coming from emotion, not from logic; that’s what makes them Difficult. If you can figure out why they’re upset, you may be able to soothe their fear or anger.
Communicating in Difficult Clients Mode will feel awkward at first, but with time and practice, it gets easier. Nothing will make your Difficult Clients into Reasonable People, but learning to communicate effectively with them will go a long way to reducing conflict and moving their transaction toward a happy conclusion.
When your Difficult Client’s number appears on your cell phone or their email address pops up in your inbox, your stomach clenches in anticipation of an unpleasant exchange to come. Your Difficult Clients are always angry, upset, or complaining, and nothing you do or say seems to please them. You’re at your wit’s end, and you can’t remember why you agreed to work with them in the first place!
It’s time to shift into Difficult Clients Mode. Instead of casual conversation, use the points below to script your arguments before delivering them. Complete a first draft, let it sit a few hours or overnight, and then fine-tune the wording carefully.
First, remove the first person singular pronouns (I, me, my, mine). Wherever possible, substitute your statements with the first person plural (we, us, our, ours). Using “we” reinforces the fact that you are all on the same team. So instead of, “I’ll get an answer to your request,” say “We’ll see how the buyers respond to our request.”
Another way to remove first person pronouns is to change to passive voice. So instead of “I presented your proposal but the Sellers said no,” say “Our proposal was rejected by the Sellers.”
Absolutely, you should use the first person singular when you make a promise, such as “I’ll have that information for you by five o’clock”; or when you accept personal responsibility and need to say, “I’m sorry.” In most other cases, however, you are better off leaving “I” out of your communication.
Without first person pronouns, you are less vulnerable to attack. Just using a rhetorical device like “I think,” or “I believe,” or “I’m afraid that,” can inspire a challenge from Difficult Clients. They might say, “On what authority do you think, believe, or fear?” In other words, “Who do you think you are?” Difficult Clients look for opportunities to challenge your competence and authority; it’s prudent to reduce those opportunities when you can.
Second, offer facts rather than opinions. Ugly truth sounds more palatable when it comes from an objective source, rather than inf the form of your personal thoughts or observations. Instead of, “I’m afraid sellers aren’t getting what they used to,” say, “In this market, homes can’t command the price they would have gotten three years ago.” Cite an authority if you can, and statistics are always good. You might say, “According to our MLS data, prices in this area have fallen 12.5% since the peak in 2006.”
Third, be as succinct as possible. Do not elaborate or explain. Avoid extraneous information, especially personal information. So instead of, “I can’t meet you tomorrow because it’s my wife’s birthday,” say, “Unfortunately, tomorrow won’t be possible. Let’s find a time later in the week.”
Fourth, don’t respond to “rabbit trails.” When an extraneous topic is introduced, say “I understand how you feel,” and then turn the conversation immediately back to the issue at hand. So if, during negotiations, your Difficult Client Seller wants to remind you (again) how much they paid to convert the basement, say “I understand how you feel. However, this is the first offer we’ve received and we need to decide how to respond.”
Fifth, focus on the benefits to them of compliance and the disadvantages to them of noncompliance. Difficult Clients have no interest in anyone else’s point of view. If you try to explain that their demands are unreasonable or unfair to the other party, you’ll find yourself accused of being “on their side.” Say “I know it’s less than you hoped for, but accepting this offer will mean that you can move forward with your plans. If you turn it down, we may wait a long time before we get another one.” Don’t mention all your hard work or the updates the buyer will have to pay for. Difficult Clients have only one perspective -- their own.
The last point is crucially important: Decline to participate in drama, verbal or written. Stay calm. Keep your face impassive and your mouth closed. Of course, this is easier said than done when you’re being attacked, but tantrums are hard to sustain when no one is fighting back. Don’t respond to accusations in writing; an email exchange will tend to escalate. Instead, pick up the phone and ask them to explain how they feel and why. Difficult Clients are coming from emotion, not from logic; that’s what makes them Difficult. If you can figure out why they’re upset, you may be able to soothe their fear or anger.
Communicating in Difficult Clients Mode will feel awkward at first, but with time and practice, it gets easier. Nothing will make your Difficult Clients into Reasonable People, but learning to communicate effectively with them will go a long way to reducing conflict and moving their transaction toward a happy conclusion.
Tuesday, June 29, 2010
Wisconsin Unemployment Rate Drops To Year Low (40,000 Jobs Added In May, Report Shows)
MADISON, Wis. -- Wisconsin's unemployment rate dropped to 8.2 percent in May, its lowest level in more than a year.
The state Department of Workforce Development released the seasonally adjusted number on Thursday. Democratic Gov. Jim Doyle said the lower rate reflects the hard work being done to recover from the recession.
The monthly report shows that Wisconsin added more than 40,000 jobs in May.
Unemployment was 8.5 percent in April. The May rate is the state's lowest since March 2009.
The national seasonally adjusted unemployment rate for May was 9.7 percent.
The state Department of Workforce Development released the seasonally adjusted number on Thursday. Democratic Gov. Jim Doyle said the lower rate reflects the hard work being done to recover from the recession.
The monthly report shows that Wisconsin added more than 40,000 jobs in May.
Unemployment was 8.5 percent in April. The May rate is the state's lowest since March 2009.
The national seasonally adjusted unemployment rate for May was 9.7 percent.
Pricing to sell in today's market
Putting yourself in the right mindset to sell is essential. It's the most difficult aspect of selling for most sellers. Your home is worth what a buyer is willing to pay, which may not be what you think it is worth.
Detaching yourself emotionally from your home is difficult. Clearing out years of clutter, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.
Putting your home on the market at a price that reflects what you want and not what the market will bear can cost you time and money as it sits on the market unsold.
The home-sale market is a localized phenomenon. The only way to get a clear picture of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much.
The most recent sales -- those that closed within the last three months -- will be the most informative. Be sure to take a hard look at the list prices of homes that are new on the market.
If the list prices are lower than they were two or three months ago, this indicates that prices are declining. This needs to be taken into account when you select a list price.
HOUSE HUNTING TIP: Pay close attention to your competition. Don't fall into the trap of pricing your home higher than your neighbor's home because yours is better. If your neighbor's price is too high for the market, neither of your homes will sell.
Ask your listing agent to call the listing agents of properties similar to yours to find out what kind of showing activity they are receiving. Have they had offers? If so, why weren't they accepted? Was the price too low? If so, you should set your sights lower.
Some listing agents recommend that you list considerably under market value in order to stimulate multiple offers. In some cases, this can be an effective strategy.
For example, in the low-end foreclosure market, this was common practice at the end of last year. Some listings priced way below market value received more than a dozen offers.
However, it can be risky to price significantly lower than market value on a more expensive property for which the demand is lower. You could end up with more than one offer, but you could also receive under-market price offers.
Your home needs to be perceived as a good value to a buyer to sell in this market. However, you could shortchange yourself by discounting the price too much.
Your home is most marketable when it is new on the market. Buyers wait anxiously for the new crop of listings. Listings that don't sell relatively quickly often languish on the market.
Price reductions often follow as the sellers try to find market value. A listing that has been on the market for months is likely to receive a low offer -- if a buyer makes any offer.
A listing that receives a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it's best to lower the price to market value as soon as possible while the listing is still fresh in agents' and buyers' minds, even if this is within two to four weeks of the listing date.
THE CLOSING: Listings in neighborhoods where sales activity is slim require a longer marketing period. Even so, pricing right for the market is imperative.
Detaching yourself emotionally from your home is difficult. Clearing out years of clutter, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.
Putting your home on the market at a price that reflects what you want and not what the market will bear can cost you time and money as it sits on the market unsold.
The home-sale market is a localized phenomenon. The only way to get a clear picture of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much.
The most recent sales -- those that closed within the last three months -- will be the most informative. Be sure to take a hard look at the list prices of homes that are new on the market.
If the list prices are lower than they were two or three months ago, this indicates that prices are declining. This needs to be taken into account when you select a list price.
HOUSE HUNTING TIP: Pay close attention to your competition. Don't fall into the trap of pricing your home higher than your neighbor's home because yours is better. If your neighbor's price is too high for the market, neither of your homes will sell.
Ask your listing agent to call the listing agents of properties similar to yours to find out what kind of showing activity they are receiving. Have they had offers? If so, why weren't they accepted? Was the price too low? If so, you should set your sights lower.
Some listing agents recommend that you list considerably under market value in order to stimulate multiple offers. In some cases, this can be an effective strategy.
For example, in the low-end foreclosure market, this was common practice at the end of last year. Some listings priced way below market value received more than a dozen offers.
However, it can be risky to price significantly lower than market value on a more expensive property for which the demand is lower. You could end up with more than one offer, but you could also receive under-market price offers.
Your home needs to be perceived as a good value to a buyer to sell in this market. However, you could shortchange yourself by discounting the price too much.
Your home is most marketable when it is new on the market. Buyers wait anxiously for the new crop of listings. Listings that don't sell relatively quickly often languish on the market.
Price reductions often follow as the sellers try to find market value. A listing that has been on the market for months is likely to receive a low offer -- if a buyer makes any offer.
A listing that receives a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it's best to lower the price to market value as soon as possible while the listing is still fresh in agents' and buyers' minds, even if this is within two to four weeks of the listing date.
THE CLOSING: Listings in neighborhoods where sales activity is slim require a longer marketing period. Even so, pricing right for the market is imperative.
Monday, June 28, 2010
1.7 million iPhones sold in 3 days
Apple breaks another launch record with the iPhone 4
Photo: Apple Inc.
Despite long lines, product stockouts and reports of reception issues, Apple (AAPL) engineered another huge launch last weekend. This just in from Apple PR:
Apple® today announced that it has sold over 1.7 million of its iPhone® 4 through Saturday, June 26, just three days after its launch on June 24. The new iPhone 4 features FaceTime®, which makes video calling as easy as one tap, and Apple's new Retina display, the highest resolution display ever built into a phone, resulting in stunning text, images and video.
"This is the most successful product launch in Apple's history," said Steve Jobs, Apple's CEO. "Even so, we apologize to those customers who were turned away because we did not have enough supply."
By comparison, it took Apple three days to sell 1 million units each of the iPhone 3GS in 2009 and the iPhone 3G in 2008, and 72 days to sell 1 million units of the original iPhone in 2007.
Commenting on the news in a note to clients, Piper Jaffray's Gene Munster saw several "catalysts" ahead for Apple's fourth fiscal quarter, which began on Sunday:
•An estimated 200,000 iPhones pre-ordered after Apple pushed the delivery date past the end of the third quarter
•The launch of the white iPhone 4 in July
•The launch in 83 additional countries by the end of September
The iPhone 4, Munster writes, is "off to a very strong start."
Photo: Apple Inc.
Despite long lines, product stockouts and reports of reception issues, Apple (AAPL) engineered another huge launch last weekend. This just in from Apple PR:
Apple® today announced that it has sold over 1.7 million of its iPhone® 4 through Saturday, June 26, just three days after its launch on June 24. The new iPhone 4 features FaceTime®, which makes video calling as easy as one tap, and Apple's new Retina display, the highest resolution display ever built into a phone, resulting in stunning text, images and video.
"This is the most successful product launch in Apple's history," said Steve Jobs, Apple's CEO. "Even so, we apologize to those customers who were turned away because we did not have enough supply."
By comparison, it took Apple three days to sell 1 million units each of the iPhone 3GS in 2009 and the iPhone 3G in 2008, and 72 days to sell 1 million units of the original iPhone in 2007.
Commenting on the news in a note to clients, Piper Jaffray's Gene Munster saw several "catalysts" ahead for Apple's fourth fiscal quarter, which began on Sunday:
•An estimated 200,000 iPhones pre-ordered after Apple pushed the delivery date past the end of the third quarter
•The launch of the white iPhone 4 in July
•The launch in 83 additional countries by the end of September
The iPhone 4, Munster writes, is "off to a very strong start."
Saturday, June 26, 2010
Is May's Home Sales Decline an Alarming Signal of What's to Come?
Earlier Tuesday, the National Association of Realtors (NAR) reported the annual rate of existing home sales decreased 2.2% in May, and industry reaction to the results and what the future may hold is decidedly mixed.
May is the first month in more than a year the homebuyer tax credit isn't an incentive to lure prospective homeowners into the market, but shoppers that signed a sales contract by April 30 have until June 30 to close the deal and still get the refundable credit — $8,000 for first-time buyers, $6,500 for existing homeowners.
The May decline follows upwardly revised monthly increases in April (8%) and March (7%) for closed transactions of existing houses, condos and co-ops. In addition, the NAR previously reported that pending home sales increased 6% month-over-month in April, the latest in a string of increases for that index, including rises in March (7.1%) and February (8.3%).
NAR's pending sales index is a forward-looking indicator of future closings based on signed contracts. Deals generally close one to two months after contracts are signed. That data suggested existing sales would jump from the revised estimate of 5.79m in April to 6.2m in May — an increase of 7% — Paul Dales, US economist for Toronto-based Capital Economics, wrote Tuesday.
The latest existing sales report "is hard to square" with the pending home sales index, Dales said, "so either signings are being canceled or it is taking longer than usual for a deal to be closed."
Existing home sales took an even deeper dive last December, the first month after the $8,000 first-time homebuyer tax credit was originally set to expire on November 30. That month — historically a slow month for home sales — existing sales dropped 16.7% month-over-month.
After a rush of first-time homebuyers caused existing home sales to shoot up from September through November, NAR called last year's cliff-diving sales volume an “expected” crash in sales volume. That double-digit decline came even though President Obama had already signed legislation into law that expanded eligibility and extended the credit to its most recent deadline.
"The market is going through a period of swings driven by the tax credit,” NAR chief economist Lawrence Yun said in December. “We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit.”
On the news of May's existing-home sales decline, the NAR blamed at least some of it on a slow down in the closing process. The association is among those in the industry supporting a Senate amendment that would extend the deadline to close to September 30, giving buyers an extra three months to get deals finalized.
“Approximately 180,000 home buyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales," Yun wrote in commentary Tuesday. “In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program. Florida and Louisiana, also impacted by the oil spill, have the highest percentage of homes that require flood insurance.”
But not all deals close, and many home shoppers with sales contracts in place may never close because of financing difficulties, according to Sylvia Alayon, vice president of operations at the Consumer Mortgage Audit Center (CMAC), a Fort Lauderdale, Fla.-based due diligence and consulting firm that specializes in mortgage forensic research and analysis.
"Lending standards are very, very tight," she said. "We're going to see a huge fallout from individuals that signed contracts, and a good majority of them are not going to be able to obtain financing."
Mark Rogers, a senior economist at Lafayette, Calif.-based Econoday projected earlier this month that many pending sales may not have closed by the tax credit deadline and will never close, adding home sales are "almost certain to slump in May."
Capital Economics' Dales wrote that if NAR's projections are correct, existing sales are likely to increase sharply in June. But thereafter, existing sales will fall back sharply, and his long-held projection of an impending double dip in housing would then begin.
"The tax credit-induced surge in demand is boosting prices," Dales wrote. "That is not too surprising given that the government effectively gave homebuyers an extra $8,000 to spend.
"Nonetheless, once home sales fall back to fairly depressed levels, house prices will start declining too," he added. "By the end of next year, we think they will be at least 5% lower."
Yun projected that pending home sales will decline in May and June, a cool down from the surge leading up to the tax credit's contract deadline. But, Yun added, job growth and a manageable level of foreclosures are keys to sales and price performance during the second half of the year.
Others, like John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting (JBREC) are less optimistic.
"This is very bad news," Burns said in reaction to May's numbers. "Sales are going to fall off a cliff in July."
CMAC's Alayon agrees, and said the tax credit pulled too much demand forward, and now sales have nowhere to go but down.
"Unfortunately, we're not going to see the sharp increase in home purchases and we have been accustomed to in the summer. That spike already happened as a result of the incentive the Administration offered," she said.
Alayon said the benefit of a third round of homebuyer tax credits would be minimal, and instead advocates greater incentives to lenders to reduce existing borrower payments through mortgage modifications.
The result, she said, would be a reduction in foreclosures that would stabilize housing prices and lure buyers back into the market.
"Once you can stabilize housing, then you can generate interest with first-time homebuyers and get individuals that can afford to buy second homes or investment properties because now it makes sense to invest in the market," she said.
May is the first month in more than a year the homebuyer tax credit isn't an incentive to lure prospective homeowners into the market, but shoppers that signed a sales contract by April 30 have until June 30 to close the deal and still get the refundable credit — $8,000 for first-time buyers, $6,500 for existing homeowners.
The May decline follows upwardly revised monthly increases in April (8%) and March (7%) for closed transactions of existing houses, condos and co-ops. In addition, the NAR previously reported that pending home sales increased 6% month-over-month in April, the latest in a string of increases for that index, including rises in March (7.1%) and February (8.3%).
NAR's pending sales index is a forward-looking indicator of future closings based on signed contracts. Deals generally close one to two months after contracts are signed. That data suggested existing sales would jump from the revised estimate of 5.79m in April to 6.2m in May — an increase of 7% — Paul Dales, US economist for Toronto-based Capital Economics, wrote Tuesday.
The latest existing sales report "is hard to square" with the pending home sales index, Dales said, "so either signings are being canceled or it is taking longer than usual for a deal to be closed."
Existing home sales took an even deeper dive last December, the first month after the $8,000 first-time homebuyer tax credit was originally set to expire on November 30. That month — historically a slow month for home sales — existing sales dropped 16.7% month-over-month.
After a rush of first-time homebuyers caused existing home sales to shoot up from September through November, NAR called last year's cliff-diving sales volume an “expected” crash in sales volume. That double-digit decline came even though President Obama had already signed legislation into law that expanded eligibility and extended the credit to its most recent deadline.
"The market is going through a period of swings driven by the tax credit,” NAR chief economist Lawrence Yun said in December. “We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit.”
On the news of May's existing-home sales decline, the NAR blamed at least some of it on a slow down in the closing process. The association is among those in the industry supporting a Senate amendment that would extend the deadline to close to September 30, giving buyers an extra three months to get deals finalized.
“Approximately 180,000 home buyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales," Yun wrote in commentary Tuesday. “In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program. Florida and Louisiana, also impacted by the oil spill, have the highest percentage of homes that require flood insurance.”
But not all deals close, and many home shoppers with sales contracts in place may never close because of financing difficulties, according to Sylvia Alayon, vice president of operations at the Consumer Mortgage Audit Center (CMAC), a Fort Lauderdale, Fla.-based due diligence and consulting firm that specializes in mortgage forensic research and analysis.
"Lending standards are very, very tight," she said. "We're going to see a huge fallout from individuals that signed contracts, and a good majority of them are not going to be able to obtain financing."
Mark Rogers, a senior economist at Lafayette, Calif.-based Econoday projected earlier this month that many pending sales may not have closed by the tax credit deadline and will never close, adding home sales are "almost certain to slump in May."
Capital Economics' Dales wrote that if NAR's projections are correct, existing sales are likely to increase sharply in June. But thereafter, existing sales will fall back sharply, and his long-held projection of an impending double dip in housing would then begin.
"The tax credit-induced surge in demand is boosting prices," Dales wrote. "That is not too surprising given that the government effectively gave homebuyers an extra $8,000 to spend.
"Nonetheless, once home sales fall back to fairly depressed levels, house prices will start declining too," he added. "By the end of next year, we think they will be at least 5% lower."
Yun projected that pending home sales will decline in May and June, a cool down from the surge leading up to the tax credit's contract deadline. But, Yun added, job growth and a manageable level of foreclosures are keys to sales and price performance during the second half of the year.
Others, like John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting (JBREC) are less optimistic.
"This is very bad news," Burns said in reaction to May's numbers. "Sales are going to fall off a cliff in July."
CMAC's Alayon agrees, and said the tax credit pulled too much demand forward, and now sales have nowhere to go but down.
"Unfortunately, we're not going to see the sharp increase in home purchases and we have been accustomed to in the summer. That spike already happened as a result of the incentive the Administration offered," she said.
Alayon said the benefit of a third round of homebuyer tax credits would be minimal, and instead advocates greater incentives to lenders to reduce existing borrower payments through mortgage modifications.
The result, she said, would be a reduction in foreclosures that would stabilize housing prices and lure buyers back into the market.
"Once you can stabilize housing, then you can generate interest with first-time homebuyers and get individuals that can afford to buy second homes or investment properties because now it makes sense to invest in the market," she said.
Friday, June 25, 2010
Tax credit NOT extended
Senate Dems fail to advance tax extenders bill for the third time
Senate Democrats just failed for a third time to advance legislation to extend unemployment benefits through November.
In a 57-41 vote, the Senate failed to end debate on the legislation.
The failure to move the tax extenders package, which also would have renewed scores of individual and business tax breaks, illustrates the extent to which fears about the deficit are now dominating the legislative process five months before a midterm election where Democratic control of Congress will be on the line.
The legislation cost about $100 billion and would have added about $33 billion to the deficit by extending unemployment benefits for six months. The cost of the added unemployment insurance was not offset with other tax hikes or spending cuts.
Republicans voted against the motion in unison, arguing it would add to the country’s ballooning deficit.
“We just can’t keep kicking the can down the street and say ‘Oh, we’ll take care it later on. It’ll be offset later,’” Sen. George Voinovich, a centrist Republican from Ohio, told The Hill.
“That’s all we’ve been doing these last couple of years, and I’m fed up with it.”
Voinovich, who is retiring at the end of this Congress, had voted for similar extensions in the past and hails from a state with one of the nation’s highest unemployment rates. That he could not stomach the cost to the budget of extending unemployment benefits again shows how budget concerns have overtaken worries about the economy.
Senate Majority Leader Harry Reid (D-Nev.) scaled back the package the Senate rejected on Thursday. The original tax extenders package cost $140 billion and added $80 billion to the deficit.
Democrats on both sides of Capitol Hill ripped Republicans for much of Thursday, accusing them of refusing to help needy families and criticizing them for budget hypocrisy.
Some Democratic senators expressed puzzlement that their conservative counterparts voted for $1.3 trillion in tax cuts during the Bush administration and escalated spending on wars in Iraq and Afghanistan. None of that spending was offset with out spending cuts, they noted.
“Now, they’re going to make their last stand on deficits by trying to take money away from the unemployed, in terms of extending benefits,” Sen. Bryon Dorgan (D-N.D.). “That’s sort of a bizarre priority as far as I’m concerned.”
Speaker Nancy Pelosi (D-Calif.) criticized Republicans for seeming to have “a tin ear when it comes to the appeals of the American people for job creation.”
But it’s not just Senate Republicans who are worried about increased spending in the face of the nation’s projected $1.5 trillion budget deficit.
Pelosi has been frustrated by opposition from House Democrats, who forced her to scale back a package of unemployment insurance extensions, aid to states and extended COBRA health insurance benefits. Vulnerable members of her caucus did not want to vote to add to the deficit without an assurance that the Senate would follow suit.
Senate Democrats on Thursday attempted to increase support for the bill by arguing unemployment has been extended for years without offsets. They also blasted Republicans for using the deficit to gain political points in the run up to November’s election.
“Somewhere along the line, throughout these charades, this job-creating, tax-cutting, loophole-closing bill has become a political football, and that is really too bad,” Reid said in comments on the Senate floor.
“The debate is focused on winning and losing and not on doing what's right, and that's really too bad.”
Senate Democratic leaders also tried to remind Republicans that when they were in charge they, too, extended unemployment benefits without offsets.
“This entire proposal is paid for except for unemployment insurance, which in a bipartisan way has always passed unpaid-for through the decades,” said Sen. Chuck Schumer (D-N.Y.). “But everything is paid for, so [their argument that the bill adds to the deficit] is no longer an excuse for them. And why are they doing this, it's beyond us.”
However, not every Senate Democrat supports the idea that leaders should continue the tradition by deeming continued extensions to unemployment benefits an emergency and not offsetting its cost.
“I don’t buy that distinction,” said Sen. Ben Nelson (D-Neb.). “At some point, it ceases to be an emergency, it’s ongoing … I think the bill should be paid for.”
Senate Democrats just failed for a third time to advance legislation to extend unemployment benefits through November.
In a 57-41 vote, the Senate failed to end debate on the legislation.
The failure to move the tax extenders package, which also would have renewed scores of individual and business tax breaks, illustrates the extent to which fears about the deficit are now dominating the legislative process five months before a midterm election where Democratic control of Congress will be on the line.
The legislation cost about $100 billion and would have added about $33 billion to the deficit by extending unemployment benefits for six months. The cost of the added unemployment insurance was not offset with other tax hikes or spending cuts.
Republicans voted against the motion in unison, arguing it would add to the country’s ballooning deficit.
“We just can’t keep kicking the can down the street and say ‘Oh, we’ll take care it later on. It’ll be offset later,’” Sen. George Voinovich, a centrist Republican from Ohio, told The Hill.
“That’s all we’ve been doing these last couple of years, and I’m fed up with it.”
Voinovich, who is retiring at the end of this Congress, had voted for similar extensions in the past and hails from a state with one of the nation’s highest unemployment rates. That he could not stomach the cost to the budget of extending unemployment benefits again shows how budget concerns have overtaken worries about the economy.
Senate Majority Leader Harry Reid (D-Nev.) scaled back the package the Senate rejected on Thursday. The original tax extenders package cost $140 billion and added $80 billion to the deficit.
Democrats on both sides of Capitol Hill ripped Republicans for much of Thursday, accusing them of refusing to help needy families and criticizing them for budget hypocrisy.
Some Democratic senators expressed puzzlement that their conservative counterparts voted for $1.3 trillion in tax cuts during the Bush administration and escalated spending on wars in Iraq and Afghanistan. None of that spending was offset with out spending cuts, they noted.
“Now, they’re going to make their last stand on deficits by trying to take money away from the unemployed, in terms of extending benefits,” Sen. Bryon Dorgan (D-N.D.). “That’s sort of a bizarre priority as far as I’m concerned.”
Speaker Nancy Pelosi (D-Calif.) criticized Republicans for seeming to have “a tin ear when it comes to the appeals of the American people for job creation.”
But it’s not just Senate Republicans who are worried about increased spending in the face of the nation’s projected $1.5 trillion budget deficit.
Pelosi has been frustrated by opposition from House Democrats, who forced her to scale back a package of unemployment insurance extensions, aid to states and extended COBRA health insurance benefits. Vulnerable members of her caucus did not want to vote to add to the deficit without an assurance that the Senate would follow suit.
Senate Democrats on Thursday attempted to increase support for the bill by arguing unemployment has been extended for years without offsets. They also blasted Republicans for using the deficit to gain political points in the run up to November’s election.
“Somewhere along the line, throughout these charades, this job-creating, tax-cutting, loophole-closing bill has become a political football, and that is really too bad,” Reid said in comments on the Senate floor.
“The debate is focused on winning and losing and not on doing what's right, and that's really too bad.”
Senate Democratic leaders also tried to remind Republicans that when they were in charge they, too, extended unemployment benefits without offsets.
“This entire proposal is paid for except for unemployment insurance, which in a bipartisan way has always passed unpaid-for through the decades,” said Sen. Chuck Schumer (D-N.Y.). “But everything is paid for, so [their argument that the bill adds to the deficit] is no longer an excuse for them. And why are they doing this, it's beyond us.”
However, not every Senate Democrat supports the idea that leaders should continue the tradition by deeming continued extensions to unemployment benefits an emergency and not offsetting its cost.
“I don’t buy that distinction,” said Sen. Ben Nelson (D-Neb.). “At some point, it ceases to be an emergency, it’s ongoing … I think the bill should be paid for.”
Thursday, June 24, 2010
Quote of the Week
"The starting point for all achievement is desire. Keep this constantly in mind"
-Napoleon Hill
-Napoleon Hill
Transformers 3 Set to Film in Milwaukee & Hold Casting Call this Weekend
The Milwaukee Art Museum and the Tower Site will be the backdrops for the next installment of Transformers, announced Visit Milwaukee.
The majority of the shots will be filmed at the Milwaukee Art Museum. Filming will begin the week of July 12 at the art museum. A cast and crew of 150 personnel will be helping create the shots.
A casting call will also be held on Saturday, June 26 from 10 a.m. - 3:30 p.m. at the Milwaukee City Center (509 W. Wisconsin Ave).
Both men and women are asked to dress up in a “trendy-executive” style of clothing. The casted extras will work on July 12 and July 13.
It is estimated that Milwaukee will receive more than $1 million in local spending on salaries, hotels, food, fuel and more.
“Public Enemies” was the most recently shot major Hollywood film in Milwaukee in 2008.
The majority of the shots will be filmed at the Milwaukee Art Museum. Filming will begin the week of July 12 at the art museum. A cast and crew of 150 personnel will be helping create the shots.
A casting call will also be held on Saturday, June 26 from 10 a.m. - 3:30 p.m. at the Milwaukee City Center (509 W. Wisconsin Ave).
Both men and women are asked to dress up in a “trendy-executive” style of clothing. The casted extras will work on July 12 and July 13.
It is estimated that Milwaukee will receive more than $1 million in local spending on salaries, hotels, food, fuel and more.
“Public Enemies” was the most recently shot major Hollywood film in Milwaukee in 2008.
Wednesday, June 23, 2010
New Rates are in!
The new rates for today have been announced and they are showing and amazing 4.5% interest rate on a 30 year fixed! With these rates being lower than they've been in the past few months they sure won't stay here for long! So don't delay and take advantage of this amazing opportunity to own a home and save a TON OF MONEY!! Contact me today to find out how easy it is to get you into a home and stop wasting money on rent! Or even move up to a bigger, and better home with the low prices of homes!
Ty Jakoblich
Shorewest Realtors
Brokers Associate
Cell:262-716-5149
Home Office: 262-431-4023
Ty Jakoblich
Shorewest Realtors
Brokers Associate
Cell:262-716-5149
Home Office: 262-431-4023
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About Me
- Ty Jakoblich- Realtor
- Waukesha, Southeastern WI, United States
- I am a life long resident of the Waukesha and Milwaukee county area. I have a goal set out to help as many families reach their real estate goals and dreams. Seasoned in all aspects of real estate including residential, commercial, multi-family, business opportunites and vacant lots. I am an Accredited Buyers Representative (ABR) A Accredited Staging Proffessional (ASP) A Shorewest Certified Relocation Specialist (SCRS) As well as a Short Sale and Foreclosure Representative (SFR) And as a Broker's Associate I have a higher knowledge and experience than your typical sales associate. Buying and Selling a home can be a very exciting time in many people's lives. I am here to make sure you reach your goals, and make sure the process is simple, quick and smooth, and most importantly FUN!