Wednesday, July 31, 2013

Appriaser better at values for you the seller?

I had this question on a real estate website yesterday, and I was thinking to myself, does the owner of the property really want the appraiser, who works for the bank or financial institution telling them what the value of their property is, and in what condition as compared to others around the area?

Appraisers get paid by a 3rd party at the behest of the bank, so you end up paying for them at some stop on the merry-go-round. However, appraisers pull in comps from just about anywhere, pulling in raw data, not caring if you renovated your house and have a newer kitchen, newer appliances, newer baths and bedrooms.

Don't get me wrong, I have some very good friends who are appraisers. I appreciate what they do, but they get paid by the bank. I can take them comparables that I think are good for the house, but they don't have to use them, after all, they are licensed as well by the State, and they have a code of ethics to follow as well.

Liz

Tuesday, July 30, 2013

Pending Sales of Previously Owned U.S. Homes Decline 0.4% in June 2013

Fewer Americans signed contracts in June to buy previously owned homes, showing rising mortgage rates are beginning to restrain the housing market.

The index of pending home sales dropped 0.4 percent, less than forecast, to 110.9 in June after climbing a month earlier to the highest level since December 2006, figures from the National Association of Realtors showed today in Washington. The median forecast in a Bloomberg survey of 40 economists called for a 1 percent decline.

Lean inventories of cheaper properties and mortgage rates that have climbed about 1 percentage point since early May are making it harder for some Americans to purchase houses. At the same time, housing will probably benefit from improvement in the labor market and higher home values that encourage more listings.

“A gradual increase in mortgage rates is manageable for the housing market,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. The decline “is a bump in the road. As long as they don’t spike unexpectedly, I don’t see any real threat from current mortgage rates.”

What does this mean Liz? The local Jacksonville market did see a slowdown in sales in June 2013, but so far this year the average sales prices are up almost 15% for each month. It is still a great time to buy or sell a home and rates are still very low. Call me to learn more about what your home is worth.

Liz

Monday, July 29, 2013

Remove the controversial items before allowing your property to be shown

I walked into a house today with a client looking at the competition in our area for his million dollar listing. This property had a monkey lamp that had the monkey holding the pole for the lamp with one hand and a group of bananas with the other hand. Really? I know Target and Pier 1 have simple lamps for less than 100 bucks, but this goes a long way in selling a house, keep it simple.

On another house there were two small dogs that were yapping and following us around the property. I had called, made the appointment with the listing agent and was never told about the dogs. Really? Owners could not put up their dogs before I arrived? When my client and I first saw this home, they were ready to turn around and leave after the first five minutes. The previous owners had painted the baseboards orange and baby blue. Baby blue! Wallpaper from Tony Manero’s house in Saturday Night Fever adorned pretty much every room.

The reality is that if you have vision, you can get past ugly wallpaper and crazy baseboards, but you need a Realtor to assist you and get past this. Your Realtor works for you and is more than just a salesperson, they are your representative in this transaction and this is ALL they do, see houses, see what they can be, and help their clients buy and sell real estate. They know what people want to see in a house, the smells of the house and what is needed to close quick transactions.

If your house is not selling, call me for ideas on why. I just helped 5 clients sell their homes last week.

Liz

Sunday, July 28, 2013

REALTORS® Confidence in current market conditions held steady for June 2013

REALTOR® Confidence in Current Market Conditions Held Steady


REALTORS® generally continued to view current conditions in the single–family home market as “strong” with the Index-Current Conditions holding steady at 71 in June. A level of 50 delineates “moderate” conditions. The Index for townhouses was unchanged at 51. The Index for condominiums approached the 50 level. REALTORS® ascribed the low volume of condominium sales to problems in FHA financing. [Source: June REALTORS® Confidence Index (RCI) Survey]
Although demand remained broadly robust, recent increases in interest rates were reported as deterring some potential buyers from purchases, but also inducing other potential buyers to move forward quickly in anticipation of possible additional interest rates increases. Tight underwriting standards coupled with protracted bank approval processes continued to frustrate home buying activity, especially for first-time homebuyers. Inventory was reported to be low compared to demand although there has been some easing in recent months. REALTORS® also raised concerns about the dampening effect of new regulations such as the increase in mortgage insurance premiums and lifetime payment under certain conditions.
Why is this important Liz?
After a number of years of concerns about the overall conditions of the housing market the data indicate a substantial and ongoing upswing. Looking at the trends it all points to positive trends. No one will forget where we have come from since 2008, but with scores that are more than double what they were, it does seem like we are entering a new era of growth in the housing markets. 

Saturday, July 27, 2013

Kitchen Renovation

Great article in the Florida Times Union in Jacksonville talking about renovating your kitchen.  You can go to bit.ly/14VWv0e to see the official data from the Jacksonville region on costs of renovating your house. Who would not want a new kitchen? After all kitchens and bathrooms are where you get the most value for a new solution!

First question to ask is, "How long do I plan to stay in the house?" I would recommend that if you renovate the kitchen you need to stay in it 3-5 years, to create something that is mainstream and something people can live with when you go to sell the house. Try not to do something too exotic that will drive a potential buyer away. Having a pink kitchen is perfect for you, if you plan to stay in it forever, but there are fewer buyers who really want a pink kitchen.

Need to know this when you spend 10,000 or 20,000 because you are going to see a return of between 60-70% return on your money. It is simple math from a sale standpoint. When I renovate a home, I normally make sure I follow the standards of knowing that I spend an appropriate amount to the cost of the home. Whole area, plumbing, electrical, cabinets, appliances all should not cost more than 10-15% of the total sale price of the house. So a 700,000 house, you could get a 70,000 kitchen solution, conversely a 70,000 house should be around 7,000 to 10,000 in expense.

Be realistic in the kitchen too, if you only have $10,000 to spend and you want to gut the kitchen, put in new appliances, granite counter tops, tile back splash, canned lighting, get realistic. Appliance packages of a fridge, range, dishwasher and microwave will run from $2,500 and up. Right there, that is a large amount of the budget.

In the end, know what your budget is, spend what you can in the budget, but remember you can always change the appliances next year or add to the other side when you have more resources. Yes, it would be better to have it all done, but the reality is that you need a plan and work within that plan. Have fun with it!

Liz

Friday, July 26, 2013

Realtor Brand, what does yours say about you?

When people seek out a real estate agent today, it’s not because they can’t get information on their own, says Patricia Martin, author ofRenGen: The Rise of the Cultural Consumer—and What It Means to Your Business. It’s because they’re looking for a connection they can trust, she says.

You’re trying to convey a message about you. That means identifying a niche or expertise that differentiates you—and the more passionate you are about it, the better.
Why are you selling houses, as opposed to driving a bus or teaching third-graders? You need to be able to identify and articulate why you’re passionate about your work. If you can’t, maybe you shouldn't be selling real estate.”
To bring focus to your passion, think about your skills, says Bruce Tait, founding partner of Tait Subler, a branding consultancy in Minneapolis. Do you have an eye that lets you see the bones of a house and its potential? Can you size people up well and know what they want or need? Identify that thing you do better than just about anyone else. That way, you’ll be able to  speak with conviction about why buyers and sellers should work with you. “Talk to others you have done business with, and ask them what they think your strengths are,” Tait suggests. “If you hear something that rings true to you, you’re probably close.”
Market trends also play a role. For example, “solo living is huge and getting bigger every year,” says Martin. (According to the 2010 Census, 27 percent of U.S. adults live alone.)  “That’s important for someone selling real estate to understand. Ask, ‘What does that mean to me? Is there something there I can offer?’”

Own Your Image

You don’t have to be a shameless self-promotor to make sure your branding is visible online wherever you are. Start with a Google search, says Ernie Graham, senior director of product management at Move Inc., which operates realtor.com®.  “Your prospects are Googling you,” he says. “Do it yourself and find out what they’re seeing about you.” Graham’s research shows 75 percent of click-throughs come from the top five or six Google returns. So what’s showing up  in your top five? An empty profile picture? Nonexistent or outdated company information? Fill out online profiles on those top sites where your name pops up. A blank profile means prospects are “bouncing”—moving on to somewhere, and someone, else.
Rather than ignore third-party listing aggregators, use them to get your information out to prospects and clients. “Make sure all roads lead to you,” Graham says.
“If that site ranks No. 2 when you Google yourself, don’t close your eyes and pretend it’s not there.” And be sure to claim and populate your profile on realtor.com®, a site with more than 50 million monthly visits, to avoid losing out on untold free client referrals.

Be Consistent and Real

It’s best to use the same branding message across all platforms, from social media sites to your paperwork. Inconsistencies diminish the brand’s power. They make people step back and reconsider. Remember, says Martin, everything communicates your brand. “What you are wearing, what you are driving, every piece of paper, every photograph, every place you do or do not have a presence,” she says.
Use a professional photo for your social media, advertising, and marketing. Make sure it’s a current photo, not one that’s years out of date. Clients notice, and they are less apt to trust someone who’s not honest about their appearance, Graham says.
Having a personal Web site strengthens your credibility. If you don’t have one, realtor.com® and other providers offer free personal sites. “Link to it from every social media site and online profile,” Graham says. And be sure your site is mobile-enabled; a growing percentage of search traffic comes from mobile devices.
“Real estate has incredible opportunities for those who set parameters about how they do business and what they will and won’t do,” Martin says. “That’s called making a brand promise.” The key is not to promise what you can’t deliver: There’s no forgiveness for a broken brand promise, she says.

Why is this important Liz? This is the largest purchase of a lifetime for most. You want to be able to TRUST the person who is representing you on the purchase of the home. Look for someone who is well respected, has a number of recommendations from others, we know 90% of people who buy start looking for the house on the internet before they purchase, so they are also researching you, the Realtor. 

Thursday, July 25, 2013

My time is worth something....

As a Realtor, my time is worth something. I received a call yesterday from a sweet older lady who wanted to know more about the history of the house I have listed. She was very nice and asked about the history of the area, the history of the home, and proceeded to tell me her life history.

Now in sales 101, it is important for us to listen more than we speak, however after 30 minutes, this woman was cutting into my time, which is worth a great deal to my customers and prospects. Calling to discuss the type of paint used on the outside of the homes was a bit too much out of my comfort zone.

So remember as you work with people, while it is important to listen, sometimes you need to watch the clock and make sure your time is being used to its best abilities. It is OK to stop a person once they get off target and it will help you to become a better listener as you will be able to steer conversations back to the intended target that may get off track. There is nothing wrong with taking control of the conversation.

Liz

Tuesday, July 23, 2013

Sales is not showing up and winging it.

So you have been a professional salesperson for many years, you think you know everything there is to know about everything and in your hurried mad dash to go see a prospect, you left out the door and forgot your sales data about the area your prospect is located. So you think you don't need to prepare.

Wrong. Most people who are buying or selling a house are looking at this transaction as the MOST IMPORTANT one of their lifetime. Sure they will be buying and selling new houses along the way, but still, this house is extra important to them, right here, right now.

Simply showing up without numbers, without data is the wrong message to send, no matter the cost or amount of the property or the relationship. The difference between a Realtor and an real estate agent may be a code of ethics, but I believe it is much more, it is professionalism. We as Realtors have much more to prove, especially if you have alphabet letters behind your name.

So do the homework, get prepared, make sure you have researched and thought of any issue that may come up, especially if this is a million dollar plus property. Preparation is the key to sales. I will leave you with a Vince Lombardi, the famous football coach, quote: "Success is when Opportunity and Preparation come together." Prepare to succeed!

Liz

Monday, July 22, 2013

Mentoring

I help the newer Realtors in our Avondale office, in fact I help the established Realtors as they help me. While a mentor is someone, to me, who helps a less experienced person to gain experience, I see myself in uncommon surroundings. Do you see yourself as helping newbies as well as experienced people?

I think this is called Karma, giving back to eventually receive. You never know when the good you put out in helping people will come back to you. I think this is more than just hope, it is good clean energy that is helping someone take the nugget or nuggets of information and build something from a solid foundation. People remember those who pull them aside and help.

Being genuine in your quest to help others is a key trait. Most people can spot liars and thieves, as they are always self-centered and about themselves. In the end, it comes down to people seeing through others. In the long run people with good hearts and honest people, they really do thrive, as the cheaters, dream stealers, thieves, they end up alone, cold and never to be heard from again.

Children who grow up without a mentor can still learn with a mentor at a stage later in life. We human beings are always learning. So when I see someone new to the Real Estate Profession, I embrace them for starting a new life and I welcome them into the profession. I would much rather see professionals who know and understand what this job takes to do it right, than to have inexperienced people who become the 20% that people remember for a bad experience, when 80% are a credit to their profession.

If you are thinking of getting into Real Estate, please let me know, I would be happy to sponsor you and mentor you.

Liz

Sunday, July 21, 2013

Great color in a tree of bush?

My husband loves crape myrtles. They are not my favorite bush or tree, but secretly, I love their color. We have three at our house, two in the front yard and one in the back. There was a great article in the Florida Times Union July 20, 2013 edition, page D-7, if interested. Gardening: Crape myrtles thrive as trees, shrubs or foundation plants | jacksonville.com

The history is rather interesting, the plant was originally brought over from China to Great Britain, but dubbed a failure when it failed to bloom in the crazy seasons of England. It only started thriving when in 1786, it was brought over to Charleston, SC by plant explorer Andre Michaux. The main reason is that these plants need heat to flourish. They thrive on it to push out all their flowers. Tough to get lots of heat in Great Britain, but they can get the great flowers sent to them from the United States.

Powdery mildew does grow on them, but there are variations that have been bred to be resistant to the issue. I know we can spray them, but there are so many insects that will feed on the aphids that it may make sense to allow the tree/bush/shrub to exist on its own as it would in the wild. And, do we really need more pesticides in our lives?

Some of these can grow into large trees, 20-30 feet tall. This is important to know because the JEA likes to cut down our Oaks, Magnolias, and other trees that get in the way of power lines. What better than to plant Crape Myrtles which should not need the JEA "cut" as it is known. A nice addition with the Crape Myrtle is the bark and as it grows in the summer, the bark is shed, showing off a wide range of colors. Leaves change to yellow, and the tree begins to change for the next season. If you decide to commit Crape Murder, and cut the tree back down to a bush, while looking unsightly, it is still healthy for the tree to promote new growth.

Enjoy the Crape Myrtle as a reject from her majesty's kingdom, one that we are blessed to have in the South.

Liz

Saturday, July 20, 2013

Ever heard of staging your home for sale?

Staging is a great way to help sell a house. What is staging? Staging is when you hire a professional who is trained to make your home appeal to a high number of buyers, sell faster, and even bring a higher sales price. Using either your furniture or some from the person doing the staging's inventory, your home will be transformed into a warm and inviting place.

Staging works when the prospect opens the door and enters the space, but is no substitute for a great Realtor who can market your home at a compelling price. No amount of staging will help you, if the home is overpriced because no one will step foot in something they cannot afford.

I have some stagers I work with, if you are interested. I also stumbled upon a website, www.stagethesale.com. Remember staged homes sell faster than those that sit empty.

Liz

Friday, July 19, 2013

Need to start using video for Real Estate Presentations

The day and age of ametuer videographers has arrived. No, I am not talking about celebrity videos, ick....I am talking about creating a video to help sell your house. With the advent of the smartphone, if you are not taking videos with any of the apps available to you, there is a hole in your sales strategy.

I know of Vine, an app owned by Twitter, that allows you to take a 6 second video. What can be captured in 6 seconds, A LOT! If you need more time for your video, Instagram, owned by Facebook, allows up to 15 seconds of video. Still if you need more time, want some cool background music, you can go with Videolicious who will allow you to edit, add licensed music, and create great videos.

You may be asking, "This sounds great Liz, but what do I do with my videos after I create them?" Well, you go to YouTube, create an account there and start adding your videos. You can then link to them on Facebook, Linkedin, Twitter and any of the sites that you use for sales, Zillow, Trulia, Movoto, Yelp, anywhere that you get impressions.

Video is another bullet in your gun. You need video to help you get through to people who watch TV shows on their smartphones or who watch more video than they look at static pictures. Video is the new way of selling. Get out there, take some videos, and start getting better with your sales program in Real Estate.

Liz

Thursday, July 18, 2013

Small world story

I had a heckuva a day yesterday, it started with two listing appointments. The first was with a nice man, who had contacted our relocation team and he was looking to move to a new house. So I arrived, and we began to chat and get to know one another, as part of the trust factor.

So after some speaking, I learned he was a teacher at my husband's high school. The man asked me to say my last name again and also asked what my husband did while at the school, sports, specialties, etc. I said he played football, to which the man said, "Oh, football, I did not have many football players in my classes". So I asked my husband about him. He said, he had him for a class in 8th grade, then he had a few eccentricities in his office as well, like a stuffed beaver (Mr. Willowby) and a Felix the Cat clock on the wall. All interesting items.

My second listing was with a person who runs a train locomotive yard, he started with the company as an electrician out of high school. He quickly learned the trade and was promoted to the point now where he is in charge of all the big train engines in the yard. In fact, when he was receiving texts, his sound was that of a train horn, the same as my husbands.

You never know who you will meet in the world, so you always want to be open to the next experience. It was nice to share these stories with my husband, but it was nicer to connect with nice people to discuss their backgrounds and then yes, a little bit of real estate, the reason I was there. Get people to trust in you as a person, you never seem to be selling anything.

Liz

Wednesday, July 17, 2013

Referrals are a Realtor's lifeblood

When someone does something nice for another person, and then tells someone about the nice service or item that was provided, that is what we call a referral. A referral in the business of Real Estate is when you have a nice experience with a vendor and you share that with others then the others contact the vendor to ask about the service or item.

Referrals are the lifeblood of a Realtors existence. If al Realtor were to only try and exist based on floor calls or relocations, they would not be in business very long. So when someone is willing to say a nice thing about the way a Realtor handled themselves or how the Realtor handled the process, it means a lot. Often times when you ask, "Do you know someone who wants to buy or sell Real Estate", if that person has had a good experience, they will provide a referral.

It matters not if the referral is qualified or perhaps not as good as another. What Realtors do with the people whom they friend, is work to get these people to become their "bird dogs" and look for people who have a need for a house. Bird dogs need to be thanked constantly, whether they have a referral or not, and often a call and a courteous "Thank you" is all that is needed.

It is really very easy to ask for referrals, but the key is to ask. Trust is created before the referral and can be lost so quickly if the Realtor falls out of touch with friends and clients. Be on the lookout for people who you can help and the saying is that you will receive back 10x what you give out. People helping people.

Liz

Tuesday, July 16, 2013

If you only knew what the realtor does for her commission....

Most people look at a Realtor as if they are looking at a ghost when told what the standard commission rate is for buying or selling a home. Not a Realtors are the same. You can have just the Realtor, but what about the 274 other agents in the company looking to sell your property or willing to assist you in the buying experience. You get that with me at Prudential Network Realty.

Let's say there is an issue with the title. Many banks will not loan on a clouded title so that is where our attorneys at Pru work for you, to help clean the title, make sure the closing is quick, painless and done as requested. The people of Pru make the process special.

If and when you take the dream job out of town, there is a relocation group as well. Why not continue to work with the people who helped you with your house? You know them and more importantly, you trust them. Shouldn't working with people you trust be a key part of the largest transaction you will ever make in your lifetime?

So next time your Realtor comes to you and recommends a course of action, understand that while there are other agents, a Realtor is representing YOU as the buyer or the seller. They have your best interest in mind, and because of your trust, they are there to help you through the entire process, with help from a world class team, if necessary.

Liz

Monday, July 15, 2013

Can a fence make all the difference in appearance?

Yes it can, I have a client who has a white picket fence. It is a nice picket fence, but it is an obstacle for people to view the appearance of the house. Other houses along the road do not have it, and while it may be nice for the dog or the animals, the fence is an obstacle for a prospective buyer.

Now a fence in the backyard to hide the neighbors and create privacy, those are great and they work. Who doesn't want to hide from their neighbor's dog who wants to bark at anything that moves? Or the neighbor with a little bit too much stuff? Nope a backyard fence is a sales tool.

So I asked the client to ask a handyman to take down the fence and store it in the back. Perhaps the new owner will want the fence for him or her self. Not a bad fence, but it just limits people's imagination. When selling a house, you need to be open to the ideas of your Realtor. This idea came from my Broker, and it will help get more traffic and lead to a quicker sale.

Liz

Sunday, July 14, 2013

Right house, need better circumstances

So you find the right house, the right location, the right everything, to you, and then you need to sell your other house as a contingency to buying the new house? It might make you sad to hear the realtor of your "new home" tell you that they would like to entertain other offers. That hits you like a brick in the stomach.

Contingency Sales are a possibility This article shows some of the possibilities of concluding the transaction between the 2 willing parties. It is a tough morsel to swallow when you find the perfect house, you have waited years during the recession and are ready to go, but you have a concrete block around your leg, your old home.

The best way to sell these days is with a professional, a Realtor. After all, anyone can get access with the MLS, but only a Realtor has the power of networking in offices with hundreds of like minded sales people, knows resources outside in the community and who maintain a buyers list with other agents. I know an agent who was in this situation and had 3 people looking at their house and it was not on the market yet.

Remember, if you think working with a professional is expensive, try an amateur.

Saturday, July 13, 2013

How is the weather so far this summer?

Indian Summer, rainy summer, or just hot summer? We know what to expect in Jacksonville in the summer, heat and humidity, but so far this summer, it has not been the mid 90s, which has been nice. Even this week, mid July, we are expecting 89 on July 13. Global warming, or an aberration?

Whatever it is, summer is nice and better when we are not outside and see sweat dripping from our faces. We certainly enjoy the time we have together for outdoor cooking and events such as the Jacksonville Suns, the Riverside Arts Market or just throwing the frisbee to friends in Memorial Park. We know we can do all these things during the winter months, but it is rewarding and nice to be able to do so during the summer months.

There are always events at the beach and it is the best place to go and cool off. Nothing beats a seabreeze at 4 pm, a lounge chair and some iTunes to end the day as the tide comes back up to you. We are thankful to live in Jacksonville and thankful, so far, for the good weather. But when the heat does come back, I will be back to wish us a quick exodus to fall.

Take care,
Liz

Saturday, July 6, 2013

Why 32205 is the perfect place to live

I have lived and worked in Jacksonville since 1998 and in all my time that I lived at the beach, or over the ditch, I can tell you that I have never really enjoyed living so much as living in Avondale and exploring the area around me in 32205. The shoppes of Avondale, Riverside and Ortega are special to me and are full of fun places and experiences that you cannot find at a mall, nor should you.

Having been the Home Tour Captain for RAP's tour of homes, I can tell you that I enjoyed meeting new people, seeing new houses and it has inspired me to do the same in my own house. With the addition of Sally and Stella, our two Standard Poodles, we encountered a need to redo our backyard. So in keeping with a traditional theme, the backyard is under way and changes are coming with pictures soon.

My husband, Jack, and I drive around in a golf cart, it does not go very fast, so you can probably pass us, just please no water balloons. We love driving the dogs around with us and walking through the neighborhood. No walls, no screwy regulations, just normal people who do extraordinary things. Please visit my site at Liz Bobeck Prudential Network Realty to learn more about our local market, what your home is worth and review some helpful information about me and my values.

More to come on my blog, thank you for reading so far.

Liz Bobeck