Winning the Real Estate Game in Bowling Green in a Tough Market
category:Real Estate posted:May 15th, 2008It's pretty much accepted fact that a Kentucky home is one of the best investments you can make; but like many things in life, timing is everything.
Recent worrisome talk about subprime mortgages, falling property values, foreclosures and slow real estate markets are keeping more than a few homeowners up at night. The cure for those heebie jeebies is information. There are tons of tools available to help you realistically calculate how much you can afford to borrow (either for a purchase or a refinance), and how much it will impact your budget. You can also search listings to see what homes in your area have sold for.
If you’re selling your home, keep in mind that these seemingly little things are the biggest turn-offs to a prospective buyer:
- Icky smells (cigarettes, pets, food): Invest in a good air filter or freshener, open windows, whatever it takes.
- Dirty kitchens and bathrooms: Really tackle these two areas to get them sparkling.
- Dark rooms: Turn on lights, open curtains,
- Dirty carpet: Consider having it professionally cleaned. Cluttered rooms and closets: Rent a temporary storage unit (or the basement of a good friend) to stash your beer mug collection.
- Barking dogs: send them to a friend or relative's house when your home is being shown.
- A damp basement: Keep a dehumidifier going.
- Poorly maintained front yard: spend some time mowing, trimming overgrown bushes and pulling weeds. Add a pot or two of colorful flowers near the front door for a welcoming feel.
- Weathered or peeling front door: a fresh coat of paint and new hardware is an inexpensive boost that really pays off.
For buyers, dropping prices make purchasing a home tempting right now. But if the "subprime mess" taught us anything, its that many people who felt pressured into buying a home with little or no money down are now feeling the sting of inflating mortgage payments. Take a breath and carefully assess if buying is right for you; in some cases, renting makes more financial sense find great rentals here.
And while selling or buying a place on your own may appear to save you a few bucks in commissions, a good real estate agent can greatly simplify the process, saving you more time and money in the end (not to mention, your sanity).
Remember, the real estate game is best played over the long haul. So trust time to be on your side!
Comments / Corrections:
I stayed very close to home this pass Sunday not wanting to travel very far because of the high cost of fuel.
I did go to one family get together at Kenneth City.
Pertaining to the housing issue, I have noticed that many homes that were just for sale are now being posted also for Rent. With the housing prices still too high it was also noted that a few in the Park have reevaluated their asking prices, which have been reduced thousands of Dollars from their previous asking price. There are many reasons why some of the older homes not sellling. mainly because of the condition of the homes. Old Style windows like jelousie and Miami are costing more to heat in the Winter, and more to cool in the summer. Electric Heat is very expensive and wise persons won't purchase homes that have old style windows and doors. The elements here in Florida escape through these poor structures. Also consideration should be given to Hot Water Heaters, and Appliances that are included in the sale of the homes. The seller would be wise to update the appliances, to newer more electricity friendly appliances, spend a few dollars to make the sale more inviting. I would not spend money on interior carpeting, and paint as most new owners paint and cover their floors with colors that match their decor. Furthermore, pllumbing should be updated in older homes, and Air Citioning at a minimum should be serviced and checked for possible replacement. When all these things are completed the seller has a much better opportunity of selling the home. One final suggestion is that the exterior grounds surrounding the home should be manicured to perfection. First impressions are the ones that last the longest. If the house appears shabby from the outside the home will be for sale for a long, long time. A little money spent in the right direction will improve the sale possibility of the home almost right away especially if the rooms are of the size and numbers the new owner is looking for.
posted:05/27/08Timing is huge. There are about 700 different single family homes for sale in Logan Utah right now, and many of these houses can't sell for what they thought they could get out of their houses a few months ago. A lot of sellers are having to take losses just to get their Logan Real Estate sold. Some of these people are moving because of job changes, if they had known that it would cost them an $10,000 to $20,000 just to sell their house, they might have reconsidered the relocation....
posted:06/09/08It is a Buyers Market right now and Buyers are very particular about what they want. I have found that most buyers want "Move-In Ready" homes. They do not have the time or the know-how to fix up, paint, re-carpet and etc. They also don't know what the cost would be to do these things so that is why the "Move-In Ready" homes and the new construction homes are selling.
Another thing is, that some builders have gotten greedy and are trying to cut corners by not installing ceiling fans and etc. and the buyers are smart and can see this so they are turned off by builders who try to cut corners.
Tip of the Day: Homeowners need to keep their homes updated so they can enjoy them more and when they are ready to put them on the market they will sell faster!
posted:06/17/08The Headline most appropriate for the New Buffalo Michigan real estate market is, "The Best Buyer's Market in a Decade". Prices in many areas have fallen to pre-bubble levels. All one needs to do is look at the daily sales stats available at sites such as TheDailyListings.com to understand that there are many buyers taking advantage of this opportunity. This is true of both the low end properties priced less than $200,000 or Lake Michigan Lakefront Property.
posted:07/01/08The inventory of homes for sale in Tampa Florida has been drastically decreased in the last few months, but still have a little while to go before the market stabilizes. Tampa home sales are up more than 66% since the beginning of the year as of June! Today, the Tampa real estate market was just named by MSN real estate as one of the top US cities to buy in this market. If you would like FREE access to the local Tampa MLS, go to www.FlaPropertyFinder.com
posted:07/08/08Boulevard's prices have dropped a lot, mostly because of the fuel prices. We are still the 'last lil frontier' in San Diego county and don't let anyone tell you otherwise.
posted:07/16/08I am a REALTOR in the Lakes Region of New Hampshire. According to a publication that has come out by the NHAR, New Hampshire is in much better shape then most other places.
From May of last year to May of this year New Hampshires growth is at 1.6% above any other state in the region.
The unemployment status in New Hampshire is at 4% which is the lowest in the region and below the National rate of 5.5 %.
According to the Federal Reserve Bank in Philadelphis index ( reported by the Boston Bank) of economic activity for each New England State and Nation. At nearly 200 the index for NH is the regions highest and also 24% above the National index.
According to this report, if any state is going to recover in a timely fashion and reverse the decline in home sales, it's going to be New Hampshire.
New Hampshire is still continuing to grow despite the economy.
New Hampshire's growthe
posted:07/21/08Real Estate activity has picked up in the New Orleans Metro area which includes the westbank. Our state is considered in the top 6 for Real Estate activity. The locals feel a decline becuase of the false increase of values that the market experience after hurricane Katrina. For more information about the Real Estate market and valueable tips for homeowners, visit www.barbaradufrene.com
posted:08/07/08Douglasville GA Real Estate activity has been picking up lately but if you are thinking of selling your home you might want to wait until some of the REO and other Douglasville Foreclosures sell off.
posted:08/07/08Jefferson, Georgia Real Estate News from Kelli Crocker of RE/MAX Towne Square:
As of August 11, 2008 according to the Georgia MLS Market Statistics data, there are 543 single family homes presently on the market in Jefferson. While this is more than a year supply of homes, properties are selling!
In the past 12 months, 404 homes sold, and within the past 6 months 212 homes sold. The average time on the market was 142 days, and the average ratio of list price to sales price was 95%. So, although home sellers and builders have adjusted their asking prices downward this past year, the average sale price is still 95% of the asking price. The average list price fell from $213k a year ago to $199k now, and the average sold price was $209k a year ago and $190,800 now.
Now is definitely the time to buy a home in Jefferson or the surrounding areas! As everyone must know by now, we have record low interest rates, lower house prices and a great selection to choose from! There are still many loan programs available for buyers with a 600 credit score or higher, sometimes even a 580 score is acceptable. The most prudent buyers are buying homes this year because the housing market will be on the mend soon with the new Housing Bill recently passed. Now is the time to buy to get the best deals!
In order to sell a home in this market, a seller must eliminate the problems with their homes. Buyer's are looking for reasons "not to buy" a home. If they must remove wallpaper, change the carpet, paint, fix doors, etc., they will simply move on to the next home that is updated, clean and clutter-free with fresh and manicured landscaping that is ready to move in! Buyers are looking for competitive prices! There are just too many choices of homes, so your home must stand out as the best value. Finally, your real estate agent must be marketing your home in a comprehensive manner utilizing the latest internet marketing channels and tools.
While the market is challenged here in Jefferson, Georgia, it is not as bad as people might think! This market is moving and active! Buyers are buying their dream homes for less and sellers are selling to move on with their plans! Buy now! Ask a REALTOR!
posted:08/11/08