Saturday, March 19, 2011
Many Buyers and Sellers are confused
Last night I was showing a home in the North Shore of Long Island as I was having a conversation with the buyer I have been working with and the conversation made me realize how Buyers and Sellers are confused with what is happening in the market. The reason I say this is because this particular buyer had made an offer on a property in February which was about 3% under the asking price.
That week the seller rejected the offer and wanted the full asking price and she got it. Two offers came in. One of them was for asking price and the other was slightly below but with 50% down. The house Im talking about is a beautiful Victorian home five bedrooms and three bathrooms in floral Park. According to Realty Connect USA in the floral park ZIP code 11001 the average sales price in February 2010 was $446,000 with a total of 140 homes sold. In February 2011 the average sales price was $500,250 the number of homes sold was 8 and the average days on the market with 59 which shows a 12.1% gain in price.
Is the first week of March 2011 in Nassau County 225 homes have sold but in March of 2010 a total of 558 homes sold in Nassau County. This reminds me of a home I sold in Port Washington last year the ZIP code was 11050 and in that particular market at prices have dropped 23.5% and the number of homes sold dropped 11.8% received last year. in 2010 accorded to really connect USA the average sales price was $989,647 and now the average sales price in February 2011 was $757,500
After having a conversation with my past client, he was saying how much of a tax advantage of home is and I told him about an article I had read which said that that most people think today's tax incentive for homeownership is primarily benefit wealthy individuals and that it's simply not true said Mr. Phillips from the daily news on March 15, 2011. In conclusion the Long Island market is active and there are plenty of buyers out there that are ready to make a purchase but many sellers have pulled their home of the market waiting until April or May.
Source: Brian Jeacoma, Brian jeacoma, Inc. (3/15/11)
How Effective Are Open Houses?
The biggest complaint home owner's have who are selling or who have sold their house is that their agent didn't hold enough open houses, or any at all. This will lead them to believe their Realtor was not doing the job they hired them to do. When it comes to open houses, you're probably not going to find a lot of busy, successful real estate agents holding them. In fact, most agents will hold an open house just so their client doesn't complain. Here's why.
Less than 1% (much less than 1%) of homes will sell during an open house. This is because the people that actually go to them are just beginning their search and aren't ready to buy yet .For most buyers, going to an open house is one of the first things they do. In fact, it's probably the first house they've seen. You'd also be surprised at how many neighbors go to the open house who aren't even interested in buying, nor do they have a friend or family member who is. They're generally just nosy and taking advantage of the fact that the owner isn't there to see the inside. I actually had a neighbor come to an open house who had the same exact floor plan and wanted to see how the owner's placed their furniture to get ideas.
Most of the visitors aren't even pre approved for a mortgage yet. So, even if they are interested, there's no telling whether or not they'll be approved. Another drawback is most people that enter open houses go in because they drove by and saw the open house sign. When they enter the house, they don't know the price and there's a good chance it will be out of their price range. There are also people who enter open houses to steal things. I can go on pointing out the reasons why people that visit an open house have no intention to buy. But, the point is you want qualified buyers coming into your house who have a peaked interest.
Less than 1% (much less than 1%) of homes will sell during an open house. This is because the people that actually go to them are just beginning their search and aren't ready to buy yet .For most buyers, going to an open house is one of the first things they do. In fact, it's probably the first house they've seen. You'd also be surprised at how many neighbors go to the open house who aren't even interested in buying, nor do they have a friend or family member who is. They're generally just nosy and taking advantage of the fact that the owner isn't there to see the inside. I actually had a neighbor come to an open house who had the same exact floor plan and wanted to see how the owner's placed their furniture to get ideas.
Most of the visitors aren't even pre approved for a mortgage yet. So, even if they are interested, there's no telling whether or not they'll be approved. Another drawback is most people that enter open houses go in because they drove by and saw the open house sign. When they enter the house, they don't know the price and there's a good chance it will be out of their price range. There are also people who enter open houses to steal things. I can go on pointing out the reasons why people that visit an open house have no intention to buy. But, the point is you want qualified buyers coming into your house who have a peaked interest.
The Open House: Still An Effective Marketing Tool?
An open house can certainly help you find a buyer for your house, but there are other important factors that you should also think about. Most real estate agents do not use an open house as a main tool in their marketing program. In fact, open houses are generally thought of as simply a waste of time today. Many agents think of them more as a means of finding future clients for themselves than of finding a current buyer for a house.
But there are agents and homeowners who view open houses as an effective marketing tool that does help with sales. On average, studies have shown that an open house can take between sixty-five to seventy-five hours before a deal is closed. While an open house does take a lot of time and effort to do properly, many people still believe in the concept for valid reasons.
Not every real estate agent is going to be eager to help you sell your house, and they won’t consider the work a priority. Of course, real estate agents have numerous other home listings to deal with, and in some situations won’t bother to show your house to an interested client, thinking that it just won’t be a good fit. Added to that, buyers frequently change their minds and often neglect to inform the real estate agents of their decisions. Some people prefer to buy a home without the assistance of a real estate agent, and these people often like to go to open houses. It also should be noted that some potential buyers opt against checking out a house when they don’t see the particular details they’re seeking included in the home listing. You can avoid this problem when you have an open house. Generally speaking, an open house is an easy opportunity to get a good look at the property, inside and out.
But many homeowners wonder if the expense of staging a house is worth the time, money and effort. Sellers may also have the suspicion that their agents are only using the open house not as a way to get potential buyers, but as a method to secure other clients. Homeowners are also anxious that their personal property will be safe with so many people going through their home. They worry about items being stolen or that their home could be vandalized during an open house. Some homeowners are not comfortable with anyone being in their house at all. They may only feel comfortable opening their home to serious buyers, and keeping potential thieves and nosy neighbors at bay. Sometimes choosing not to have an open house can be the best option for both the agent and the seller, depending on individual circumstances.
The most important thing to consider when deciding whether or not to have an open house is the market. If houses are selling fast, then holding an open house will probably not be necessary. The Internet can also be an very useful tool when selling your home. If you can post good quality pictures online, then having an open house would be redundant.
Want to find out more about foreclosed homes in mesa az, then visit our site on how to choose the best luxury homes in mesa for your needs.
An open house can certainly help you find a buyer for your house, but there are other important factors that you should also think about. Most real estate agents do not use an open house as a main tool in their marketing program. In fact, open houses are generally thought of as simply a waste of time today. Many agents think of them more as a means of finding future clients for themselves than of finding a current buyer for a house.
But there are agents and homeowners who view open houses as an effective marketing tool that does help with sales. On average, studies have shown that an open house can take between sixty-five to seventy-five hours before a deal is closed. While an open house does take a lot of time and effort to do properly, many people still believe in the concept for valid reasons.
Not every real estate agent is going to be eager to help you sell your house, and they won’t consider the work a priority. Of course, real estate agents have numerous other home listings to deal with, and in some situations won’t bother to show your house to an interested client, thinking that it just won’t be a good fit. Added to that, buyers frequently change their minds and often neglect to inform the real estate agents of their decisions. Some people prefer to buy a home without the assistance of a real estate agent, and these people often like to go to open houses. It also should be noted that some potential buyers opt against checking out a house when they don’t see the particular details they’re seeking included in the home listing. You can avoid this problem when you have an open house. Generally speaking, an open house is an easy opportunity to get a good look at the property, inside and out.
But many homeowners wonder if the expense of staging a house is worth the time, money and effort. Sellers may also have the suspicion that their agents are only using the open house not as a way to get potential buyers, but as a method to secure other clients. Homeowners are also anxious that their personal property will be safe with so many people going through their home. They worry about items being stolen or that their home could be vandalized during an open house. Some homeowners are not comfortable with anyone being in their house at all. They may only feel comfortable opening their home to serious buyers, and keeping potential thieves and nosy neighbors at bay. Sometimes choosing not to have an open house can be the best option for both the agent and the seller, depending on individual circumstances.
The most important thing to consider when deciding whether or not to have an open house is the market. If houses are selling fast, then holding an open house will probably not be necessary. The Internet can also be an very useful tool when selling your home. If you can post good quality pictures online, then having an open house would be redundant.
Want to find out more about foreclosed homes in mesa az, then visit our site on how to choose the best luxury homes in mesa for your needs.
Friday, March 18, 2011
Thursday, March 17, 2011
Wednesday, March 16, 2011
Tuesday, March 15, 2011
Monday, March 14, 2011
What’s ‘In’ and ‘Out’ in the Kitchen: 10 Trends to Watch
By Melissa Dittmann Tracey, REALTOR® Magazine
Kitchens are going dark, LED lighting is gaining steam, and trash is getting more attention–all are trends in kitchen designs this year, according to the National Kitchen & Bath Association, which surveyed 100 designers at the end of 2010 to reveal the hottest kitchen trends. (Last week, we highlighted NKBA’s 4 Bathroom Trends to Watch.)
The following is a list of what’s cooking in kitchen trends for 2011, based on NKBA survey results of which kitchen designs are increasing in demand and which are losing favor.
Maple kitchen; Photo credit: Courtesy of KraftMaid Cabinetry
1. Cabinetry
Gaining steam: Maple cabinetry
Losing steam: Cherry cabinetry (Cherry dominated kitchens in early 2010 but was overtaken by maple cabinetry this year)
Kitchen cabinets in Sonoma Maple, Midnight with Bristol Maple, Pebble; Photo credit: Wellborn Cabinet Inc.
2. Kitchen finishes
Gaining steam: Dark natural finishes; light natural and colored painted finishes also remained fairly common, inching up slightly in use.
Losing steam: Medium natural, glazed, and white painted finishes are on the decline and the use of distressed finishes has dropped significantly in the last year.
Photo credit: Miro Dvorscak
3. Color
Gaining steam: Grays, beiges, and bones
Losing steam: Brown tones, whites, and off-whites
O’Neil Cabinets shaker style; Photo credit: Courtesy of O’Neil Cabinets
4. Design styles
Gaining steam: Shaker style, which is characterized by its simplicity, un-ornamented yet functional, finely crafted style. (Shaker overtook contemporary style this year as the No. 2 most popular kitchen design style). Traditional style remains the most popular kitchen design, although it has dropped slightly in popularity compared to last year.
Losing steam: Contemporary style
Kitchen from Huntwood Cabinets features an island with built-in wine cubbies; Photo credit: Alan Bisson
5. Cabinetry upgrades
Gaining steam: Unchilled wine storage (yet undercounter wine refrigerators are losing favor)
Losing steam: Tall pantries, lazy Susans, appliance garages, and pull-out racks are declining slightly in popularity.
DuPont Corian solid surface in Sorrel; Photo Credit: TC Studios
6. Countertops
Gaining steam: Solid surfaces, a low-maintenance countertop surface, has grown in popularity, but granite and quartz continue to hold dominance. Other countertops surfaces increasing in niche use include butcher block and marble.
Losing steam: Laminate
Liebherr’s 2060 series
7. Refrigerators
Gaining steam:French door and side-by-side refrigerators
Losing steam: Freezer-top refrigerators and freezer-bottom models
Thermador’s Masterpiece Series 36-inch Silver-Mirrored Induction Cooktop; Photo credit: Thermador
8. Cooktops
Gaining steam: Induction cooktops are closing the gap on gas and electric models; double wall ovens are increasing in use.
Losing steam: Gas cooktops are still popular but their use is falling slightly in favor of induction and electric cooktops. Single wall ovens and warming drawers are also on the decline.
Photo credit: Kichler Lighting
9. Lighting
Gaining steam: LED energy-efficient lighting options
Losing steam: Incandescent lighting and CFLs (compact fluorescent lights)
Photo credit: Rev-A-Shelf, LLC
10. Trash
Gaining steam: More designers are taking into account trash considerations in kitchen designs, with trash or recycling pull-outs, garbage disposals, and trash compactors on the rise.
Losing steam: Not considering where the trash goes in the kitchen
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