"Can you show us houses?"

This is one of the most exciting times of your life,  and one of the most expensive.  The questions are, where do you start, how do you get started,  how fast can you get into your new home, and should you start packing now? At this point, I usually get the call..."Skip can you show us houses this afternoon?"  No question--I can show you houses. The problem is, YOU may not be ready for me to show you houses. "WHAT!  I just told you we are going to buy a house...what else do you need?  Let's go kick some doors down!"

Hold up there, killer, we may need to do one or two things first. As we get started, we need to know what your comfort level is with price. "Man, Skip, I just don't know. I think we would like to be around $100,000. What would the monthly payment be on that?" At this point we need to bring in the expert on mortgages so we can get you pre-approved for a loan.  As we move forward, this pre-approval will be critical in presenting offers to the sellers.  If you want a seller to take you seriously, you must attach the approval letter with your offer. This letter also guarantees we are looking at houses in the right price range.  If you think you about it, starting with a pre-approval keeps you from wasting your time looking at homes that are too high or too low.  Let's just say we started out looking at homes in the $220,000 range and found one you were absolutely in love with--after which you go for the pre-approval only to find you are only approved for $175,000. Ouch!  Take it from me, if you start in the higher price range and find you must come down, it will be difficult to reset your thinking to look at homes in the lower price range.

 Grace and Peace...

Skip Geiser

(850) 221-6442

http://www.skipgeiser.com/

SkipGeiser@live.com

The Geiser Team with Main Street Properties

We haven't had any showings after a month on the market...what should we do?



Skip, I have had my house on the market for a month and I have had no showings...What should I do?
 Well, a good rule of thumb to go by is two weeks with no showings or ten showings and no offer should throw up a red flag.
 But Skip we priced it right where it should be according to the CMA (current market analysis) that our agent brought over."
 Yes, I agree but the information from that report is now over a month old. Get an updated CMA to see if a price adjustment is necessary.
 Skip you don't understand...you haven't seen our house.  It is the best home in our neighborhood and yet other homes around us have sold.
Everything is going to boil down to price,  if your home needs work you can compensate by adjusting your price, if your home is in a declining area you can compensate with price.  Keep in mind your agent has the responsibility of marketing not pricing; that is your job.  You see, you control the price by taking the information you have been given and pricing your home to sell in the time frame that you want it to sell in. As an agent, by putting dollars into a marketing program it drives more buyers to view your home. I have no desire to just list your home, because you don't get excited when it is listed; you get excited when it is SOLD!

  Grace and Peace...

Skip Geiser

(850) 221-6442

http://www.skipgeiser.com/
SkipGeiser@live.com

The Geiser Team with Main Street Properties



Florida Panhandle Pre-foreclosure Filings 1st Quarter 2012

1st Quarter 2012 Florida Panhandle residential pre-foreclosure filings have more than doubled last year, as you can see from the graph above and the table below. Every county, except Escambia, had greater than 100% increase compared to last year. However, Escambia had the highest total number of filings this year at 433, followed by Bay at 428. This dramatic increase was anticipated as the government has recently struck a deal with the 5 largest private lenders to resolve some of the legal issues from previous fraudulent foreclosure filings. Hopefully, the lenders will be more willing and better equipped to do short sales and loan modifications than in the past. If there is a flood of actual foreclosures on the market, it will dramatically increase inventory and put a significant downward pressure on prices.

Information from Metro Market Trends

Skip Geiser

(850) 221-6442

www.SkipGeiser.com

SkipGeiser@live.com

The Geiser Team with Main Street Properties

Extra...Extra...Added on to the commission!

Extra! Extra! Read all about it! I think we have all heard that saying, but I think it may have gotten twisted around a bit in the home buying and selling arena.

If you have ever bought or sold a home, you know that the agents and their brokerages all get paid out of the commission paid by the seller at the time of closing.  So that is usually two realty companies and two agents splitting that money.  Here in recent years, due to the tightening of the market, I have been seeing some brokerages adding "fees" to the sellers in addition to the commission they are collecting.  This is usually under the guise of an "administration fee" that is charged on every transaction above and beyond the commission they already get.  The real question I have is...why?  (though I think I know the real answer)  Well, they will tell you that because of the all the extra work, time, and liability it takes to do their job, they need this extra "fee".

I find it odd that other companies in the same area get by without charging this extra "fee" and still manage to keep up with the work load.  I also find it odd that some of these same companies also want to charge the buyers this "fee"...even when the buyers are being represented by their own agent.  Is it "wrong" (legally) to tack on this fee? No!  I am all for a company making a profit, so they can stay in business.

But I am also all for the free market and the power of knowledge.  An informed buyer or seller is a dangerous thing to companies that overprice their product or services.  You may be asking, What can I do to protect myself from this kind of thing?  First, hire an agent who is honest and has a good reputation.  Second, ask questions that help you understand the transaction and ALL the costs associated with that transaction. Third,  listen to your agent's advice: they are in the real estate market every day, and they know what is a normal fee-- and one that is a bit out of the ordinary. 

Grace and Peace...

Skip Geiser

(850) 221-6442

www.SkipGeiser.com

SkipGeiser@live.com

The Geiser Team with Main Street Properties

First time home buyer want vs need....

 The first-time home buyer's wants vs. needs list is a tricky, or maybe I should say sticky, topic. After years of working with first-time home buyers, I have found that most seem to want to find their "forever home",  you know, the one they will be raising their 2.5 children in, and then retire in, and so on.  Is this really realistic in today's society?  I mean, statistics show the average family moves every three to five years. Yes, I know there is someone reading this right now that is saying, "well, we have lived in our home for the past 20 years."The question is, is that the norm? And the answer is no!  "So, what is the big deal Skip? I mean, what do you care if the first-time buyer buys a house that they can 'grow into'?"  Well, let's just say our first-time buyers buy that big home the can "grow into"--is it going to be more or less expensive to heat and cool? Or let's talk taxes--are they going to be more or less? We could go on, but you get the point. If they buy a home that is going to fit them for the next few years, they most likely will have a lower initial purchase price and a newer home (with less maintenance) that will fit their budget.  With the current market the way it is, they will also be taking advantage of historically low interest rates, coupled with competitive home prices.  These two factors put together should, in a few years, equal a nice profit for them to apply to their next home.

Grace and Peace.....

 

Skip Geiser

(850) 221-6442

www.SkipGeiser.com

SkipGeiser@live.com

The Geiser Team with Main Street Properties

Skip, What I Don't Know Can't Hurt Me...Right?

Have you ever asked a question you already knew the answer to? As we ramp up into the new year I am once again reminded how bad surprises can be in the home buying and selling process. It seems to sound the same each time I list a home and ask the owners about the condition of the home: "Our home does not have anything wrong with it...that I know of."  You see, it is not what you know that will turn around and bite you; it is the things that you don't know about that will get you every time.  Knowledge is key here, and how do we get that knowledge? A home inspection!  Yes, I know, the buyers will usually do their own inspection a bit after they write a contract, but do we really want to wait until that point to find out that something really needs to be fixed?  Let's say you have your house listed and you decide to wait on the inspection. Lo and behold, you get a contract and the buyer's home inspection comes back with about $2000 dollars worth of things that need to be fixed...Ouch...deal falls through.  Could this be avoided? YES!  Listen, I know the home selling process can be expensive, so why would you throw out a tool that you could use in your favor in the selling process?  If a buyer is considering two homes, and one of the two homes has a home inspection that the sellers have gone through and done all the necessary repairs according to the report, and the other home does not, which do you think the sellers will favor?  Keep in mind, too, an inspection usually costs less than making a few extra mortgage payments because your contract falls through. Happy selling....

Grace and Peace...

Skip Geiser

(850) 221-6442

www.SkipGeiser.com

SkipGeiser@live.com

The Geiser Team with Main Street Properties

     

Should I sell in '12?

SOLD

Cutting through the fat in 2012!  Ok, you're on the fence...should I sell in 2012, or wait it out because of doubt?  If you have to sell, then there is no better time than today, but let's just say you are thinking you could wait 'til the later part of the year, or maybe next year, to sell...so what should you do?   We need to look at your goals for selling.  "Wait," you may say, "what do my personal goals have to do with selling our home"?   If your goal, let's just say, is to move your family to a new home by June because of a job change or promotion, then your goals will drive your getting that home sold faster than if you are retired and just want to be closer to the grandkids.  So you need to take your temperature in relation to your motivation to sell.  We need to note here...usually your motivation to sell will help to determine how fast you sell, because your motivation will force you to be more serious about your price. 


Now let's just take a brief look at timing.  The natural "hot" season in our market is from late March to mid October. When you are ready to sell your home, you must have your home "IN" the market when the maximum number of buyers are in the market. This will allow you see the highest price in the shortest time, because you will have more buyers out looking at the peak or hot months.  Please keep in mind you and I have a common goal...get this home sold for the highest price in the shortest period of time.  

So, should you sell in 2012...
The Good: The market is poised to trend up in 2012, and with historically low interest rates, I predict this to be a strong year.      
The Bad: The Stock Market is still struggling abroad and here in the states, and gas prices are looking like they are on the rise, which affects consumer confidence...in turn keeping some buyers off the market this year.  

Grace and Peace...

Skip Geiser

(850) 221-6442

http://www.skipgeiser.com/

SkipGeiser@live.com

The Geiser Team with Main Street Properties