Real Estate Forum

Are you interested in a real estate forum?  In a forum you will be able to get your questions answered directly by a professional real estate broker without obligations. 

Please click title of this blog and leave comments.  The forum is to be launched in the next couple of weeks based on response.

Taylor-Brown Real Estate United Communities

On March 28, 2009, Taylor-Brown Real Estate’s broker/owner, Serena Brown was a guest on SVTV on www.mogulus.com/sussexvideosandtelevision.    The interview did not go without some technical difficulties, but find out how Serena handled those difficulties. Check out the interview below.

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Mortgage Crisis Is Not Over

We are only half through this crisis according to Scott Pelley’s report.

Option arm and interest only loans have not hit the market yet.

Interestingly enough, the second mortgage crisis would not have existed without these so called “ninja loans”, the option arm and the interest loan.

Watch CBS Videos Online

It is time to refinance if you qualify. Visit www.amerisave.com/snbrown for the latest rates. Your credit score to qualify for a loan will have to at least be 700 and you may have to pay up to 20% down.

Be Part of History Today at 2:00 pm

Taylor-Brown Real Estate Goes International – Be Part of History

Get My New Ebook for $5.00 for a Limited Time

Get my new ebook, “Should I Short Sale My Home” for $5.00 that right get my ebook for half it list price by click the link below. How am I am able to do this I am giving you a $5.00 rebate for pick up my book today.

It Is Time To Make A Stand

Is your NIPSCO bill and the potential rate increase getting you down? Is the property tax increase making you want to move to another state?
“Revolt at the State House”

There is something you can do.  For the NIPSCO bill, you could voice your opinion to the regulatory commission.  For property taxes, you can join the

Join the citizens of Indiana in a Revolt at the State House on March 25, 2009 at 11:30 am. 

Never before does a citizen need to make a stand and voice his or her opinion. 

Why is this important?

Well, the legislators willingness to incorporate a two percent circuit breaker should be all the evidence needed to say that even the legislators knew the property tax reassessment and trending was unfair.  However, if you still need more evidence, let’s examine.

The homestead exemption went from 35,000 to 45,000 after a few citizens or should I say a whole organization like Greater Northwest Indiana Association of Realtors and citizens of Lake, Porter, Marion, and other counties complained at the state house.

Still need more evidence.  Some cities and counties received demands to cut the fat out of their government i.e. get rid of Hummer (Gary) due to high tax rate.  2007 Gary’s tax rate was 9.62.  2008 Gary’s tax rate is 7.62.  2008 East Chicago’s tax rate is 9.62.

I am willing to bet that the high tax rate coupled with NIPSCO’s proposed electrical rate increase in some way contributed to the surge in unemployment rate in Northwest Indiana.

If accountability is important to you then stand with citizens of Indiana on March 25, and let legislators know “yes we can” have a lean government and still get all the services that every citizen pays his or her hard earned money for.

To Sell or Not To Sell

Real estate is in the media a lot lately.  It has been in the media as a negative item for much too long.  The reason is that unlike stock or bonds real estate will never go to zero.  Yet, it will appreciate and depreciate, but most importantly it will always have value.  Even though in the present market the value has depreciated by as much as twenty seven percent in some markets, a lender, a homeowner, can still get value from the sale or refinance of the home.   It is, however, very important to be abreast of how much the value has depreciated to determine if right now is the best time to sell or refinance your home. 

 

If you are considering becoming an investor this is the best time to be an investor due to the depreciated value.  There are great deals in this market.

 

However, as a seller, it is not the best time to sell.  The value that most sellers paid for their homes a few years ago is no longer possible in the market.  Therefore, if you do not have to sell do not sell.  If you must sell price the home at a list price that is median of the comparative market value.  What does that mean, you ask?  Let’s examine. 

 

It is important to get a realistic view of values.  When the seller is viewing the comparative market analysis provided by the Realtor.  It is important to make sure it an analysis of sales from the last six months of similar properties to your home.

 

In addition, it is equally important to know how many properties that are actively listed that are similar to your home. 

 

To get a realistic view of the value of your home, we will examine the absorption rate.  The absorption rate will evaluate pricing categories ranges for properties that are similar to your home.  Let’s say you and your Realtor want to list your home between 175-200k and 225-250k.

 

Next, we pull up all properties regardless of features that are active, pending, and sold between these price ranges.   We will also pull up the total number of closed properties within the zip code of the subject or potential listed property as well as, all the actively listed properties in that zip code.

 

The information that is gather through this evaluation you will be able to get a view of where the competition is for properties that are in the same price range as your home.    The goal of this absorption rate analysis is to track where the money is.   Remember, most buyer search and purchase homes by specific price point not by features along. 

 

Now, back to our example, let’s say that over the last six months a total of 18 homes sold.  Then, you would divide “18” by 6 (for last 6 months).  This will give you the average number of homes that sold over the last 6 months.  The answer in this case is 3 homes.

 

We also want to know the average number of active listings.  For this example, the number of active listing is 24.  Then, you would divide 24 by 3 (# of solds on average for last 6 months).  The answer is 8.  8 is the total months of inventory for the price point. 

The latter information should indicate that this is a buyer’s market.  In a buyer’s market, the buyer must be aware that being in a buyer’s market doesn’t make the buyer’s job any easier.  It just gives the buyer more flexibility.  Remember in a buyer’s market, there may be several buyers for one property or only one buyer for a property.

If there are no other buyers for a property by virtue of the length of time the property has been on the market then a low offer may come in to the seller.  Sorry sellers.  However, sellers that do not mean that you have to give your properties away, but it may mean that you may have to settle for less than you anticipated selling your home. 

 

Another thing that makes a buyer’s market advantageous to the buyer and not to the seller is that there are a lot of homes to choice from that may meet the buyer’s criteria. 

 

It is important to evaluate the pricing of your homes in several different ways to help get your home sold as quickly as possible.  Your home can sell even in this market, but it has to be priced right.