More often, though, pricing your home too high works against you in some important ways. Here are three of them: 1.) Agents react. Real-estate agents — yours and the buyers’ — may not want to waste time with a home that’s unlikely to sell. 2.) Buyers react. Buyers who like your house but pass on your property because of the price may find something else and close a deal before you drop your asking price to a level they’d accept. 3.) You need that money. Even if you get your full asking price, the time it takes to get it may cause you to miss out on the house you want to buy. You may have to settle for something that’s not as suitable. Even worse, you may end up spending more than you had planned, offsetting the premium you got on your sale.
Setting a proper sale price is both an art and a science. A key step is to shop carefully for an agent who can help you, looking for one who is very familiar with your community and comes with good references. Steer clear of dabblers who sell only a few homes a year. You want a pro who is on top of the market and will value a good reference from you. Finally, keep an eye on the “traffic” – the number of potential buyers who come through your property. A good agent will have a sense of how many buyers are looking. If you are not getting your share, it’s a sign you are reaching on price. If dropping your price is inevitable, it’s better to do it sooner than later. Call Danette O’Neal Realtors.
Click here to read the transcript of President Obama’s speech to a joint session of Congress about jobs and the economy, as provided by the White House. There are four reasons why the bill should pass: 1.) It crosses industries. That encourages all industries to increase their hiring across the board, and reduces the likelihood that one or two industries will be unfairly advantaged. 2.) It efficiently uses revenue. The President’s plan emphasizes benefits to two critically important groups: teachers and wage-earning adults. Our children need to be prepared to compete in a global economy and our infrastructure needs to be repaired anyway, so why not build jobs while we’re rebuilding schools, roads, bridges, and airports? 3.) It targets job growth. Large corporations have recovered faster from the recession than small businesses. The President’s proposal would grant payroll tax cuts to small businesses that hire new workers or raise workers’ wages. It would also allow those same small businesses to continue to write off the investments they make in 2012. With those added revenues, small businesses might well be more likely to succeed, offering continued employment opportunity to their workers. 4.) It crosses party lines.
The demand is up and rents are rising in the rental market. Foreclosures have turned more than 4 million former homeowners into renters, job losses and market uncertainty have many reluctant to become homeowners. The best time to buy is when most others are sitting on the sidelines. You can benefit, here’s what you need to know: 1.) Mortgage rates are at a 40-year low, and homes in many areas are ultra-cheap. 2.) That, in turn, has enabled landlords to charge more. 3.) The typical investor buys local and hangs on to his investment for 10 years. 4.) Whereas leverage is dangerous when buying stocks, it can be a good long-term strategy with real estate. Investors: 1.) Banks now require 20% to 25% down and 6 months’ mortgage, taxes, and insurance payments in reserve; 2.) Brush up on your people skills: Owning means responding to tenant complaints; 3.) Save time by hiring a Realtor to find good opportunities, tenants and manage your investment. Read more…
Congress is unlikely to reach a long-term agreement on the National Flood Insurance Program (NFIP) before the program expires on Sept. 30. The debt-strapped program covers flood damage not typically covered by standard homeowners’ insurance. Experts believe that lawmakers will reach another temporary fix for the program, which have kept the NFIP going since 2008. Meanwhile, the U.S. House already has passed a measure that would enable the program’s premiums to rise up to 20 percent annually and make other changes to the program to improve its solvency. The U.S. Senate, on the other hand, introduced legislation that would ensure premiums rise up to 15 percent per year and completely forgives the program’s debts, which the House bill does not do. The Senate Banking Committee has plans to take up the legislation the week of Sept. 5. About 5.6 million homes and businesses are insured by the NFIP. Reprinted from LARealtors.org. Click here to read the entire article.
President Obamahas not been a very good salesman for his own accomplishments. Most liberals and progressive can’t name more than a handful of the administrations’ achievements. They are much better critics than cheerleaders. Here is a list of the president’s many accomplishments. This is also a reminder about why we need to reverse the power structure in 2011 by electing more Democrats. Share this, and tell your friends this was possible because we had Democratic Majority and why it is important not to be complaisant come election 2012!
The possibility of losing your home to foreclosure can be terrifying. Scam artists are preying on the vulnerability of desperate homeowners. Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help you save your home. Avoiding businesses that: guarantees to stop the foreclosure process, advises you not to contact your lender, lawyer, or credit or housing counselor, collects a fee, encourages you to lease your home so you can buy it back over time, offers to buy your house for cash at a fixed price that is not set by the housing market at the time of sale, offers to fill out paperwork for you or pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand. Contact a credit counselor through the Homeownership Preservation Foundation (HPF), a nonprofit organization that operates a national 24/7 toll-free hotline 1.888.995.HOPE or http://www.995hope.org.
Faulty wiring can spark a fire; mold can make you ill. Steer clear of these and other hazards by spotting hidden flaws before you rent an apartment. Since there’s little oversight of rental units or landlords, it’s up to you, the tenant, to make sure that your next apartment or house is safe, sanitary and secure. Given that the last thing you want to do is discover problems after you’ve lugged your stuff in and signed a one-year commitment, proceed with caution.
What to bring with you: Camera. Snap pictures of any areas that cause concern. Go through these with the landlord before you move in. Flashlight. Use this to see under sinks, in cupboards and behind appliances. Outlet tester. Also called a receptacle tester, this is a $5 to $10 device that instantly determines whether an electrical outlet is grounded and wired correctly. Tall umbrella. How else are you going to reach the test button on the ceiling smoke detectors? Tape measure. Not only can you check whether furniture will fit, but you can get an exact height on the ceiling and compare it to what you’re used to. White tennis shoes. Wear these if you suspect fleas or bedbugs. If they’re present, you’ll spot them jumping on your shoes. Remember to remove your shoes before going inside your own home.