February, 2008
“Imagine the wonderful discovery of stargazing in bed through a clear glass ceiling.” That’s the lead marketing line on a website for Starscapes F/X. Starscapes is apparently a glow-in-the-dark mural, that can be painted on the ceiling in your bedroom, or in hotels, and motels.
OK. Interesting product I guess, if you are into that sort of thing. I am sure they do a great job, and I hope their business prospers. But, here is the interesting thing, this website was emailed to me by someone who suggested that it be promoted to my sellers. The concept was for sellers to use this as an incentive to buyers, as a reason to buy their house!
Remember the tagline above “Imagine the wonderful discovery…” Imagine me, as the Realtor who suggest a seller do this, at two in the morning helping my clients paint over this mural, so they CAN get their home sold. Or, better yet, the phone call I get on the night of closing, when the new buyer calls me and says what the *%$# is on my ceiling? (That is tongue in cheek, because this is certainly something you would want to disclose to any potential buyer, BEFORE they bought the property.)
But seriously, let’s get real. Marketing your home is like marketing anything else. For the most part, you are trying to appeal to the largest number of people, who are already predisposed to buy within your home’s parameters… location, price, size. So, you do not want to do anything that severely limits the number of people who might otherwise be interested in the home.
Folks, something like this would do exactly that… severely limit the number of people who would be interested in the home. So, if you are selling, do not do this. Remember my question, “What Can Britney Spears Teach You About Selling Your Home?” If not, check it out.
Stage your home well, price it well, hire a great Realtor, and you will get your home sold. You don’t need the eccentric Britney Spears approach.
Share on Facebook
Category : Blog
Over the next couple of days, I am going to be uploading some documents and information pertaining to a market update for the most recent quarter year. Some of the information will pertain to the national real estate market. But, rest assured, there will be plenty of meat regarding local market conditions as well, because real estate is largely a local consideration.
So, tune in for the next few days to get this data, or better yet, go ahead and Subscribe in a Reader to this blog, so you don’t miss any important information. This data is being sourced through MRIS.
We are starting with the Quarterly Economic Monitor
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So You Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
There has been a SUBSTANTIAL increase in the number of homes in Fredericksburg that are being sold “as is.” Additionally, as any good blogger will do, I monitor what things people are searching for in the search engines, when they land on my blog. Lately, people searching to understand the “as is” situation are outnumbering any other search criteria, by a 2 to 1 margin.
So, I wanted to revisit the “as is” situation for just a bit. Primarily, I wanted to address why we are seeing so many homes in Fredericksburg being sold with this stipulation. It all comes back to the common theme in national and local real estate right now… foreclosures.
Virtually every foreclosed property will be sold as is. Banks are almost always unwilling to invest any money that will expedite the sale of the property, or improve the condition of the property for the purchaser. (They do however, continue to invest (read: throw away) money to hold the property, while they take FOREVER to close a transaction on a foreclosed property. Go figure.)
So, because the number of foreclosures has skyrocketed, so has the number of homes in Fredericksburg, and the surrounding counties, that are being sold as is.
For a very good explanation of the “as is” situation and how it may apply to you, see my previous post titled “What does “As Is” Mean to Buyers?”
Feel free to shoot me an email if you have any further questions or concerns about buying an “as is” property in our area.
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
For three hours today, the world will be in perfect balance. The world’s leading seller of bitter, burned coffee will shut down for three hours. Yes, I am speaking of Starbucks.
The world started off on a great note today, when on Fox and Friends First, Allison noted on national television that the service at Starbucks is terrible. The last time I went to Starbucks, it was with my wife, and we waited for 10 minutes to get our order. Then, I tasted it, poured it out, and went to McDonalds and got a good cup of coffee.
Editor’s note: This is only a subjective opinion by me. I intend no harm to Starbucks, I actually have a lot of respect for their business model.
Category : Blog
One of my favorite real estate bloggers is Teresa Boardman. Teresa is a Realtor with Keller Williams in St. Paul, Minnesota, and an exceptionally good blogger. I started reading and subscribed to Teresa’s blog after visiting St. Paul and Minneapolis last year. I liked the area… in the summer… and was fascinated by the architecture and culture.
Anyway, Teresa does a great job with photography on her blog, and in this particular post, told a great story. A story that applies all around the country, including in our Fredericksburg real estate market. The story? Well, just go see Teresa’s post titled “Banks, the next stage.”
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
You don’t qualify to call yourself a redneck if you have never visited the Elvis Museum in Pigeon Forge, Tennessee!
You see this is what is called synergy in action. Every redneck on the planet visits Pigeon Forge, Tennessee, at least once in their lifetime, and many make it an annual pilgrimage. Additionally, every redneck is a confirmed Elvis fan, and many still believe he is alive and sipping Margaritas in some tropical climate. So, what could be better than taking a vacation to visit the Elvis Musuem in Pigeon Forge? (Check out RoadsideAmerica.com to see more about the museum.)
So, upon some self examination, I wonder… am I a redneck? Let’s see… I have been to Pigeon Forge. I do go often, almost annually. Have I ever visited the Elvis Museum? What’s your guess?
Share on Facebook
Category : Blog
Recently I posted some articles indicating that buying opportunities are fading fast for some potential home buyers… particularly those with average, or below average credit. For more details, see “Below Average Credit? The Opportunities To Buy A Home are Fading,” and “Mortgage Insurers Tighten – Homes In Fredericksburg Will Be Harder To Buy.”
More news has surfaced to back up my predictions. This, from an Inman News article about new loan fees and restrictions:
After June 1, Freddie Mac will no longer purchase:* Mortgages with loan-to-value (LTV) ratios greater than 97 percent, with the exception of FHA/VA mortgages, and Home Possible mortgages in which borrowers have credit scores of 700 or better.
* “Alt 97″ mortgages with “Affordable Seconds.” Affordable Seconds are no longer an acceptable source of borrower funds, the bulletin said.
* Streamlined purchase for homeowners mortgages.
First-time home buyers applying for a loan through Freddie Mac’s “Home Possible” program will be required to take homeowner education classes, and all Home Possible mortgages with an LTV or total loan-to-value (TLTV) ratio greater than 97 percent must have an indicator score of 700 or better.
Private mortgage insurer PMI Group Inc. has announced that as of March 1, it will also stop insuring “above 97″ loans in which borrowers make down payments of less than 3 percent (see Inman News story), and competitor MGIC Investment Corp. is discontinuing coverage of loans with down payments of less than 5 percent in 30 markets where prices are falling (see story).
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
I had the pleasure this afternoon of playing in a pickup basketball game with some 30 somethings, and, ahem, at least one 40 something year old guy. My daughter also played, which was possibly a mistake, because she took some of us to school!!
But, it was a great time, good fellowship and exercise, and a chance to play a game I love. Hopefully it looked a little better than this.
[youtube=http://www.youtube.com/watch?v=v_-tPLibzl4&rel=1]
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
The information and advice below comes from the Trump Blog. Both points below have some questionable aspects when applied to Fredericksburg real estate.
First, as a counter point to # 1 below. I have seen fabulous deals happen at local real estate auctions, and they have happened recently. I say, take it on a case-by-case basis.
Counter point to # 2. When it comes to foreclosures, banks don’t do anything quickly. Yes, we are beginning to see good price drops. But it bears repeating… banks don’t do anything quickly.
From the Trump Blog:
Auctions are not the best place to snag bargains today. Aggressive, experienced buyers frequent them, making competition fierce for any properties that represent good value. Another problem? Some properties are so over-mortgaged that banks are trying to sell them for more money than they are really worth.Those factors, however, can make it a good time to look for properties that have not been bought at auction – and which have been put back on the market by the banks that hold them. Because banks are eager to move those properties quickly, you can see deep price drops.
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog
Not a thing. But things are tough enough that people are willing to try anything to sell their home… including taking advice from a misguided pop star, or creating outlandish attention to your home. Many sellers, and unfortunately their agents, are resorting to offering crazy and useless incentives to buyers. Offering eccentric incentives that don’t work is what I refer to as the Britney Spears approach to marketing.
The market is going to get better for sellers, but in the meantime, the best thing you can do is get your home in tip-top shape and get a firm grip on what your home is worth… based in reality, then price it to sell.
How about you? What are you willing to try to get your home sold in this market?
Real Estate Tools:
Search ALL Area Homes For Sale on the MLS
What Is Your Home Worth?
Like the Articles You Found Here? Subcribe to this Blog So YOu Don’t Miss New Articles:
Subscribe in a Reader
Receive Email Alerts to New Articles on this Blog
Category : Blog