long island real estate news

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.

Home Sellers Fare Better in Getting Their Homes Sold Using a REALTOR®, According to HomeGain Survey

Home Sellers Fare Better in Getting Their Homes Sold Using a REALTOR®, According to HomeGain Survey

Posted By susanne On February 24, 2011 @ 4:51 pm In Consumer News and Advice,Real Estate,Real Estate Information,Real Estate News,Real Estate Trends,Today's Marketplace|

RISMEDIA, February 25, 2011—HomeGain.com, a leading online real estate resource that connects home buyers and sellers with real estate professionals, announced the results of its For Sale By Owner (FSBO) vs. REALTOR® survey. HomeGain surveyed over 1,000 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Eighty-three percent said they used a REALTOR® to sell their home and 17% said they tried to sell their home on their own.

Fifty-nine percent of homeowners that used a REALTOR® to sell their home were successful vs. 39% of FSBO’s, reflecting a 50% higher closing rate for those home sellers using a REALTOR®.

Eighty-one percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.

Eighty-eight percent of homeowners who sold their homes using a REALTOR® said they would use a REALTOR® again.

Seventy-one percent of FSBOs who managed to sell their homes on their own said they would try and sell their home on their own again.

“It is especially striking that homeowners fare significantly better in selling their homes using a REALTOR® than selling on their own,” said Louis Cammarosano, General Manager of HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”

The survey also pointed out that 24% of FSBOs eventually enlisted the aid of a REALTOR® to help sell their homes.

I am Proud to announce I have moved my Team to Remax Universal. I am excited about the move and look forward to helping you with your next purchase or

I am Proud to announce I have moved my Team to Remax Universal. I am excited about the move and look forward to helping you with your next purchase or sale.

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.

Another thing home owners complain about is if their agent did hold an open house, it wasn't advertised. Well, most people looking to buy a house (over 85% actually) start their search online. They're not really looking

for open houses. They're searching agent websites for listed houses. I've done over 100 open houses. Every time someone walks in, I'd ask how they found the house. Never ever did they say they read about it in the paper (if it was advertised). Most agents see it as a waste of money.

Lot's of real estate agents will actually designate another agent in their office to hold it. New real estate agents typically like to hold open houses. Why? Because it's a great way to get some clients. A lot of agents will use the opportunity to find people just starting their search. People who go to open houses typically aren't working with an agent already.

So, if they are serious about wanting to buy something and they walk into the house and it's either out of their price range or not what they're looking for, it's a great opportunity for the agent holding the house open to say, "What exactly is your price range and what are you looking for?" The visitors tell them and the agent says, "Alright. Well, there's this house a few blocks over that sounds perfect for you. How about we meet next weekend and I'll show it to you?"

Actually, the agent will probably have their laptop with them to show the prospective buyers other homes they may be interested in. This isn't to dissuade them from buying your home. But, if the buyers walk into a house not knowing the price and estimating a $200,000 price range and you're asking $250,000, they're not going to buy it. So, the agent will show them homes on their laptop that are $200,000. Many, many agents get their first client and sale by capturing a buyer at an open house and that house is not the one they sold. This is what I did when I first got my license. Sure, I would have loved to sell that home. But, nobody that came in was interested in that particular home.

Can you sell a house at an open house? Sure. It's definitely possible. I'm not saying it isn't. But, take this into consideration before taking your Saturday or Sunday afternoon to get out of the house for your agent to hold it open.

Should You Ask Your Agent to Hold an Open House?

The best open houses are agent open houses where it's exclusive to real estate agents. Only Realtors may attend. Why is this better? Because the agents are the ones with the

qualified buyers who know their client's price range and exactly what they're looking for. Another thing I've seen work is open house parades. This is where the agents that have the listings in a specific neighborhood (it doesn't matter which company) get together and have all the homes open at the same time. They collaborate to get the word out to the other agents in the area and split the cost of advertising. This works well because you're showing people all the homes in a specific neighborhood that are for sale at the same time. So, anyone considering that neighborhood is sure to go. These are the kinds of open houses you should talk to your agent about.

4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.

Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.

Source: McClatchy Tribune, Kate Forgach (02/07/2010)

Treasury to Cut Foreclosure Relief Paperwork

The Treasury Department is announcing a plan Thursday to reduce the burdensome paperwork surrounding the foreclosure relief plan.

Two changes expected to make a big difference are:

1. Lenders will be required to collect two pay stubs at the start of the process.
2. Borrowers will be required to give the Internal Revenue Service permission to provide their most recent tax returns.

Participating mortgage service companies will be required to acknowledge that they have received a borrower’s application within 10 days and approve or deny the application within 30 days. Borrowers will still be required to make three months of trial payments before the modification is made permanent.

Treasury officials are also reportedly devising a plan to give unemployed borrowers a break on payments – probably for six months – but because the details aren’t decided, the announcement won’t be made this week.

Source: Associated Press, Alan Zibel (01/27/2010)

New Home Sales Continue to Decline

New home sales fell 7.6 percent in December, the U.S. Commerce Department reported Wednesday.

This was the second-straight month that new home sales declined.

The Commerce Department also reported that new home sales in 2009 were down 22.9 percent compared with 2008, hitting a record low of 374,000 units.

The Federal Reserve responded on Wednesday by leaving short-term lending rates at near zero and pledged to keep them low.

"This report does not totally ruin the notion that housing is recovering, but it does underscore the fragility of that recovery. It's not good news for broader economic growth," said Dana Saporta, an economist at Stone & McCarthy Research in Princeton, N.J.

Source: Reuters News, Lucia Mutikani (01/27/2010)

Coming Soon: More Foreclosures

More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values.

"We're going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years," says Mark Fleming, chief economist of researcher First American CoreLogic, which has been studying the problem.

Some real estate practitioners say they fear that this onslaught is coming.

"We've been in recovery mode for most of the year. How many foreclosures do they have to dump on the market to affect that? I don't know," says Deborah Farmer, owner of StarLight Realty in Tampa, Fla. "Any house priced under $225,000 will be affected by a large increase in foreclosures in this market."

Source: Associated Press, Alan Zibel (12/17/2009)