Friday, January 26, 2007
Who's buying houses
According to statistics by the National Association of Realtors, 61 percent of all homes are purchased by married couples. So who's buying the rest? The stats show that surprisingly, 22 percent of the homes are being bought by single women. Single men accounted for only 9 percent of home pruchases. Why the high percentage among single women? The New York Times did an analysis of census data that showed that 51 percent of all adult women in America now live without a spouse. That's pretty amazing.
Monday, January 15, 2007
Make yourself scarce
Recently I have had a tough time showing a house because the seller insisted on being present and showing the house himself. We could not agree on a time, and the seller lost out on an opportunity to show his house to a prospective buyer. Sellers should remember this real estate axiom: When buyer's are coming, make yourself scarce. Here's why.
If you, as a seller, insist on being present at all showings, you severely limit the number of people who will see your house. You can't be there all the time, and people are going to want to see your house when you can't be there. So please don't do it.
If you as a seller stay around for a showing, you are going to make the buyer uncomfortable. You want someone looking at your house to buy it, so make it a pleasant experience and make tracks.
If you as a seller stay around for showings, you are going to be drawn in to conversation with prospective buyers, and you will probably say something you shouldn't that might kill the deal. A case in point. Two men from New York who were sick of the crime there were looking at a house along the river. Their agent explained that in this part of Bucks County, people did not lock their doors, so low was the crime rate. When they arrived at the showing, the owner insisted on accompanying the buyer's agent and the men, despite repeated hints that he do something else. The party looked over the house and then went to look at the pool, which was located in the woods behind the house. As the men walked up to admire the pool, the owner told them that the pool once had a heater but that it had been stolen. Because of the owner's unthinking remark, the buyers walked and bought something else.
If you, as a seller, insist on being present at all showings, you severely limit the number of people who will see your house. You can't be there all the time, and people are going to want to see your house when you can't be there. So please don't do it.
If you as a seller stay around for a showing, you are going to make the buyer uncomfortable. You want someone looking at your house to buy it, so make it a pleasant experience and make tracks.
If you as a seller stay around for showings, you are going to be drawn in to conversation with prospective buyers, and you will probably say something you shouldn't that might kill the deal. A case in point. Two men from New York who were sick of the crime there were looking at a house along the river. Their agent explained that in this part of Bucks County, people did not lock their doors, so low was the crime rate. When they arrived at the showing, the owner insisted on accompanying the buyer's agent and the men, despite repeated hints that he do something else. The party looked over the house and then went to look at the pool, which was located in the woods behind the house. As the men walked up to admire the pool, the owner told them that the pool once had a heater but that it had been stolen. Because of the owner's unthinking remark, the buyers walked and bought something else.
Tuesday, January 09, 2007
Saying no to banks
One of the National Association of Realtors' legislative goals is to keep banks from being allowed to buy and sell homes. The new Democratic Congress has introduced a bill, H.R. 111, that would keep real estate brokerage and management clearly defined as commercial endeavors, not financial activities. Since they would not be financial, banks would not be allowed to particiapte in the the buying or selling or real estate.
The big reason for opposition: the NAR wants banks to remain as impartial providers of credit, not as entities that, if allowed, might be able to control all aspects of a real estate transaction, which could mean higher costs for consumers. The bill was introuduced by Rep. Paul Kanjorski of Pennsylvania and Rep. Ken Calvert of California. I'll keep you posted on its progress.
The big reason for opposition: the NAR wants banks to remain as impartial providers of credit, not as entities that, if allowed, might be able to control all aspects of a real estate transaction, which could mean higher costs for consumers. The bill was introuduced by Rep. Paul Kanjorski of Pennsylvania and Rep. Ken Calvert of California. I'll keep you posted on its progress.
Friday, January 05, 2007
A market prediction
The housing market has been big news for the past year and real estate agents have certainly felt the effects of the slowdown. But being in sales, we are naturally optimistic at heart, and there are a few signs that the market in 2007 will be robust, which is a fancy real estate word for good.
Here's why. Mortgage interest rates are low. You can get a 30 year fixed rate mortgage for under 6 percent, which is darn good. Also, I am seeing a lot of houses coming on the market after the holiday, which means people are anxious to get their houses sold. It also appears that sellers are pricing their homes more realistically, which should entice buyers to act before the spring market heats up.
You will read about how the market has improved in the newspaper and see it on TV in a month or so. But you heard it here first.
Here's why. Mortgage interest rates are low. You can get a 30 year fixed rate mortgage for under 6 percent, which is darn good. Also, I am seeing a lot of houses coming on the market after the holiday, which means people are anxious to get their houses sold. It also appears that sellers are pricing their homes more realistically, which should entice buyers to act before the spring market heats up.
You will read about how the market has improved in the newspaper and see it on TV in a month or so. But you heard it here first.
