Sunday, August 30, 2009
People Are Moving for Happier Reasons!
Survey: People moving for happier reasons ORLANDO, Fla. – Aug. 28, 2009 – People have gone back to moving in hopes it will improve their lives rather than moving to escape foreclosure or other aspects of the economic crisis, according to a survey of recent movers released this month by Relocation.com.In the June survey, nearly 42 percent said they were in the process of buying a home or planning to buy one. Poll participants said their reason for moving was:• To live in a bigger or better home (26 percent).• To live in a better neighborhood or area (24 percent).• To be closer to family or friends (12 percent).• To live in an area with a lower cost of living (9 percent).• To accommodate a change in marital status (6 percent). Moving because of school, job loss, retirement or foreclosure each generated 3 percent or less.Responses to this survey are substantially different from the responses to a similar survey in March, when 41 percent said the recession was, at least partially, driving their move.Source: Relocation.com (08/06/2009)
Wednesday, August 26, 2009
How to Get a Fair Appraisal on Your Home
By Sarah Max, Money Magazine
July 30, 2009: 4:11 AM ET
Buying? Selling? Don't undervalue the home
Here are five things you need to know about getting a fair appraisal.
1. The new rules don't guarantee accuracy
After the bust, lenders came under fire for pressuring appraisers to inflate property values. Now banks are largely required to work with independent appraisers, which should help fix the problems that may have led buyers to overpay.
If you're the owner and want to sell or refinance, however, it's up to you to make sure your home isn't mistakenly valued below your sale price or loan limit. That's because appraisal-management companies tend to hire workers who can get the job done quickly and cheaply, rather than those who know the area best.
"Appraisers say they're under pressure to crank out reports," says Albuquerque mortgage broker Walt Vieira.
2. Detective work may pay off
If you're selling or refinancing, a key factor in your home's valuation is the recent sales prices for houses that are comparable to yours. But your appraiser may not know if there is some unusual circumstance behind those numbers, such as a divorce or a job relocation.
So ask a real estate agent to help you ID recent comparable sales in your area and try to get the scoop on the circumstances from your neighbors. Most appraisers will appreciate extra information, says Michael H. Evans, a fellow of the American Society of Appraisers.
3. Curb appeal can boost your numbers
Appraisers don't give out grades for stellar housekeeping, but the appearance of your home nevertheless has some influence on their final number. "We're only human," says Evans.
So before the appraiser arrives, prepare your home for the evaluation the same way you would for an open house. At a minimum, mow the yard, shine the windows, tidy the closets, and pick up stray clutter from the floors. "The job of the appraiser is to look at the house through a buyer's eyes," says Leslie Sellers, president-elect of the Appraisal Institute.
4. Point out your home's best features
An appraiser who is under time pressure can't be counted on to notice and research every detail of your house and neighborhood. So before he gives your home a once-over, hand him a typed list of its best attributes. Key things to note: any recent upgrades or improvements in the house itself, such as custom woodwork or new windows, perks of your particular property, such as striking mountain views or mature landscaping, and the benefits of living in your neighborhood, such as access to top schools or public transportation.
5. It's okay to fight back after the fact
Request a copy of the final report when it's done; lenders are required to give it to you. Check for errors in key stats, such as square footage, and make sure that the comments portray your property accurately.
If you find a mistake, call the appraiser directly and ask him to recheck his work. If he's not willing to make changes, take your complaint to your state's real estate appraisal board, says Sellers. It's also worth letting your bank or broker know about your gripe, but remember, under the new rules they can't meddle with the appraisal directly.
July 30, 2009: 4:11 AM ET
Buying? Selling? Don't undervalue the home
Here are five things you need to know about getting a fair appraisal.
1. The new rules don't guarantee accuracy
After the bust, lenders came under fire for pressuring appraisers to inflate property values. Now banks are largely required to work with independent appraisers, which should help fix the problems that may have led buyers to overpay.
If you're the owner and want to sell or refinance, however, it's up to you to make sure your home isn't mistakenly valued below your sale price or loan limit. That's because appraisal-management companies tend to hire workers who can get the job done quickly and cheaply, rather than those who know the area best.
"Appraisers say they're under pressure to crank out reports," says Albuquerque mortgage broker Walt Vieira.
2. Detective work may pay off
If you're selling or refinancing, a key factor in your home's valuation is the recent sales prices for houses that are comparable to yours. But your appraiser may not know if there is some unusual circumstance behind those numbers, such as a divorce or a job relocation.
So ask a real estate agent to help you ID recent comparable sales in your area and try to get the scoop on the circumstances from your neighbors. Most appraisers will appreciate extra information, says Michael H. Evans, a fellow of the American Society of Appraisers.
3. Curb appeal can boost your numbers
Appraisers don't give out grades for stellar housekeeping, but the appearance of your home nevertheless has some influence on their final number. "We're only human," says Evans.
So before the appraiser arrives, prepare your home for the evaluation the same way you would for an open house. At a minimum, mow the yard, shine the windows, tidy the closets, and pick up stray clutter from the floors. "The job of the appraiser is to look at the house through a buyer's eyes," says Leslie Sellers, president-elect of the Appraisal Institute.
4. Point out your home's best features
An appraiser who is under time pressure can't be counted on to notice and research every detail of your house and neighborhood. So before he gives your home a once-over, hand him a typed list of its best attributes. Key things to note: any recent upgrades or improvements in the house itself, such as custom woodwork or new windows, perks of your particular property, such as striking mountain views or mature landscaping, and the benefits of living in your neighborhood, such as access to top schools or public transportation.
5. It's okay to fight back after the fact
Request a copy of the final report when it's done; lenders are required to give it to you. Check for errors in key stats, such as square footage, and make sure that the comments portray your property accurately.
If you find a mistake, call the appraiser directly and ask him to recheck his work. If he's not willing to make changes, take your complaint to your state's real estate appraisal board, says Sellers. It's also worth letting your bank or broker know about your gripe, but remember, under the new rules they can't meddle with the appraisal directly.
Tuesday, August 25, 2009
Friday, August 21, 2009
Miami /Ft Lauderdale Top City in Market Recovery!
Miami top 10 city leading market recovery MIAMI – Aug. 20, 2009 – Here’s more evidence that housing is turning around. Forbes magazine identified 161 of the country’s largest metro areas where sales activity has increased compared to 2008, and where foreclosure sales as a percentage of total sales, are low.The magazine considers these markets as on the road to recovery:1. Miami-Ft. Lauderdale, Fla.2. Lincoln, Neb.3. Colorado Springs, Colo.4. Salem, Ore.5. San Luis Obispo, Calif.6. Bremerton, Wash.7. Denver, Colo.8. Redding, Calif.9. Santa Barbara, Calif.10. San Jose, Calif.Source: Forbes, Matt Woolsey (08/13/2009)
Thursday, August 20, 2009
Wednesday, August 19, 2009
The Market IS Turning!
By Steve Murray The Market IS Turning LORE Magazine August 2009
I noticed a spate of good news coming out of June and July housing reports. First the REAL Trends Housing Market Report said that June closings were the best in three years when compared to the same month a year ago. Case Shiller noted that prices were steadying after two and half years of declines. The National Association of Realtors indicated that the Pending Index showed steady improvement over the past few months. All good and all pointed in the right way.We subscribe to the point of view that the worst of this downturn is behind us. Sure, foreclosures may well be headed up in the next year or two, short sales will be with us for awhile and the entire process of buying, financing, appraising and closing housing deals will continue to be frustrating. Yet, despite the data, but instead because of the meetings we've had with real estate professionals around the country, we're convinced that the beginning of the next housing bull market (no not like that last one) is within reach. Doesn’t seem to matter what the conditions are, these sales professionals report that they've adapted to this new market and have learned how to do business and make an income even in these times. When the professional on the street starts to turn away from the negative aspects of the industry and talk about the opportunities then we know for sure that good times can’t be that far away.So enough about the data for now. We expect that our July closing numbers will be better than June’s and that August will follow suit. Yes, the volumes will turn back down again in the fall, but that is due to a seasonal change and not a cyclical one. And next spring we'll see higher sales than we did in the spring of 2009. While we don’t foresee a return to the halcyon days of 2003-2005, nor do we see being stuck at 2007-2009 numbers for much longer. Credit markets are clearing, the backlog of distressed properties will clear and homeowners will still have most--if not all--of the benefits they've always enjoyed with homeownership--you know, the gutters and yard, leaky roof and air conditioning that never seems to work when you need it to.All kidding aside, there is no evidence that Americans have fallen out of love with homeownership. Even with a small decline in homeownership rates, over two thirds of households in our country prefer to own their home.
I noticed a spate of good news coming out of June and July housing reports. First the REAL Trends Housing Market Report said that June closings were the best in three years when compared to the same month a year ago. Case Shiller noted that prices were steadying after two and half years of declines. The National Association of Realtors indicated that the Pending Index showed steady improvement over the past few months. All good and all pointed in the right way.We subscribe to the point of view that the worst of this downturn is behind us. Sure, foreclosures may well be headed up in the next year or two, short sales will be with us for awhile and the entire process of buying, financing, appraising and closing housing deals will continue to be frustrating. Yet, despite the data, but instead because of the meetings we've had with real estate professionals around the country, we're convinced that the beginning of the next housing bull market (no not like that last one) is within reach. Doesn’t seem to matter what the conditions are, these sales professionals report that they've adapted to this new market and have learned how to do business and make an income even in these times. When the professional on the street starts to turn away from the negative aspects of the industry and talk about the opportunities then we know for sure that good times can’t be that far away.So enough about the data for now. We expect that our July closing numbers will be better than June’s and that August will follow suit. Yes, the volumes will turn back down again in the fall, but that is due to a seasonal change and not a cyclical one. And next spring we'll see higher sales than we did in the spring of 2009. While we don’t foresee a return to the halcyon days of 2003-2005, nor do we see being stuck at 2007-2009 numbers for much longer. Credit markets are clearing, the backlog of distressed properties will clear and homeowners will still have most--if not all--of the benefits they've always enjoyed with homeownership--you know, the gutters and yard, leaky roof and air conditioning that never seems to work when you need it to.All kidding aside, there is no evidence that Americans have fallen out of love with homeownership. Even with a small decline in homeownership rates, over two thirds of households in our country prefer to own their home.
Wednesday, August 12, 2009
Plantation Beach Club
I don't know if you have ever seen the wonderful ammenities at The Plantation in Ponte Vedra Beach, but if you do, you will be amazed at the value for your membership. From the beautiful Golf and Tennis facilities to the workout and private Beach club, you will surely be living in well deserved luxury! I would be happy to provide you withe a list of available properties Just call 904-652-9003.
Sunday, August 9, 2009
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