Taylor-Brown Real Estate Talks

Thank you for revisiting you can still subscribe to my RSS feed. As Always Thank You for visiting!

One quality that you should be looking for in your listing broker is honesty, so if a broker does not give you a realistic view of the value of your home do not hire them.  The broker should provide a detail comparative market analysis.  The analysis should be of the last 30 days of homes with similar features.  Here is why.

Today’s market is very volatile, so if you do not need to sell don’t.  You may find that surprising statement coming from a real estate broker, but there are several factors that makes this statement the best advice for any seller.

In previous years, a seller could list his or her home for as much as the seller wanted as long as the buyer was willing to pay the price, it sold.  The seller also could list the home at a number higher than the Realtor recommended that the seller list the home at, and it would sell.   The seller would term this pricing strategy as “wiggle” room. The reason this stragedy was successful was because it was a seller’s market back in 2003 to 2005.

Those tactics started showing the first signs of soften in 2006 when homes that were listed started remaining on the market for 3 to 6 months before selling.  Prior to 2006, it was not uncommon to have a bidding war on homes.  Several changes in the market happened in 2006 that influenced the market today and turn the market from a seller’s market in 2006 to a buyer’s market in 2009:

• increased in foreclosed homes
• changes in appraisal methods
• increase in minimum credit score to purchase a home

At the end of 2008, there were an upheaval of foreclosures and sharp economic downturn; thereby, prompt mortgage companies to tighten their belt and not allow financing.  Those changes affect buyers being able to qualify for a loan due to the credit score requirement to increase to 620.

The belts were so tight that the government had to step in.  I would like to find out if you think the changes to the mortgage industry that the government mandated helped or hurt buyer? seller?

• Good vs Bad in the Real Estate Market Real estate has had several changes in the last couple of years.  Are those changes for the better or worse? In most cases, those changes have been for the better.  Despite the tighten of mortgage qualification for getting a loan, a homeowner can rest assure that they can afford the......
• Types of Real Estate Market            The same holds true for an investor as for a first time home buyer to be successful in homeownership, the investor is to understand the market he or she is buying in, understanding his or her mortgage, and knowing what he or she can and cannot handle. Let’s examine......
• How to Sell Your Home in Any Market Yesterday, you got a peak at the content of my new ebook "How to Sell Your Home". If you are interested in selling your home....then this is going to be the most exciting message you ever read. Here's why: There is an amazing new ebook called "How to Make Your......
• At Last...Someone Has Unlocked the Secrets of Short Selling Your Home What's Your Best Chance To Sell Your Home in Today's Market?  The Answer Below May Surprise You. A short sale can be difficult if you go it alone.  Learning an effective and efficient way to accomplish that goal of short selling your home is a much needed skill, wouldn't you agree?  ......
• Interview with Attorney Siegel on "The New Rules for Mortgages" Dale Robyn Siegel is a licensed attorney in New York and owner of Circle Mortgage Group, a boutique mortgage broker in Westchester, New York. She is an adjunct professor at Baruch College as well as NYU Schack Institute of Real Estate. She is currently on a mission to re-educate......

• Introduction to Mortgages pt 4 of 5 This is part four in a five part series on what you need to know about mortgages before you buy...
• Sarasota Realtor Shows Buyers AND Sellers How To AVOID Banks When Buying & Selling! Sarasota homes for sale do NOT need to sit on the market while sellers constantly drop their price BELOW market...
• Midweek Roundup: Davy Crockett Edition "We have the right as individuals to give away as much of our own money as we please in charity;...
• Where is the Housing Market Headed from Here? The Wall Street Journal recently did an opinion poll of homeowners about where they thought their home values would be...
• How to sell your home fast in a buyer's market As everyone should know by now, the housing market has tanked. The down market is discussed on the news, in...