Month: June 2010

In my reading today of the Kiplinger Report my thoughts went to so many of our clients that have been effected by the most current recession and the disappointment in the current recession pricing of the housing industry. Kipplinger reports, “the sad fact is, it will take a decade to regain the pre-recession high sales of homes” “Even a return to the pre-bubble levels will take years”. This is often a hard pill to swallow but none the less a reality check for all who want to sell their homes today. When all efforts are exahusted such as staging, fresh painting inside and out, landscaping etc it more often then not comes back to pricing. The market is often unable to sustain the clients desired price. My job is to tell the client the truth and that truth is that they will need to reduce the price immediately in order to attmept to bring about a sale. Unfortunatley the market conditions have changed drastically and none of us could have predicted this. The market will only bare certain prices and I do not have any control over that factor. With the cooperation of the client in reducing the price or properly pricing from the onset we can get a well qualified buyer to purchase the home but until the price matches the market condtions we will all be simply spinning our wheels. Frustration on our part is when inexperienced or over zealous fellow realtors go in with Over inflated pricing we can not compete with that listing strategy. Our policy at HomeStead is to tell the potential client the TRUTH because the first two weeks of any new listing is the most important time to have the home priced accurately. When you or someone you know over inflates the true market value you will lose out to a REAL qualified buyer to the homes around you that are priced properly. Our Job at HomeStead is to NOT tell the client what they want to hear but tell them the truth right up front. Don’t always be fooled by high pricing stategies these will work to get you to list but it will not get your home sold in a timely manner for the highest and best TRUE market value.

     It has been a while since I have had something to blog about… but finally some progress on our rental property.

     The whole permit process took longer than expected, and the addition of new storm drains on the street really added to the problem.  It was difficult for workmen to get to the property, deliveries were at a standstill, and to deliver the dumpster for the demolition work was an engineering feat in itself.

     All that aside, the demotlition work is all but finished, and the framing of the kitchen is complete.  Unfortunately, when we went to have new windows added to the porch, the whole structure was sitting on just a few cinderblocks.  We decided that we needed to correct that situation and not just try to make it cosmetically pretty. 

     That being said, it is important for Buyers to remember that even though a property looks great, they should still spend the extra money to have a home inspection prior to buying.  Also, if the home has been recently renovated, make sure you ask your agent to get the permits.  If the Seller has done everything above-board, they will have no problem producing the necessary paperwork.

     Hopefully, things are in full swing now and we’ll be in full swing by 4th of July.