March Madness! Real Estate Air Ball or Bouncing Back? March 28, 2008
Posted by AndrewK in : Market Reports, Real Estate , add a comment
Last year was a not so good year for real estate and existing home sales in most areas of the country. However, 2008 has yet to reveal its place in history. We all hope that foreclosures and defaults will fall while home sales and prices will rise again (sustainably that is). Well we may just see a better year for real estate sales in the United States. According to Lawrence Yun, the chief economist for the National Association of Realtors:
The National Association of Realtors® said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and caught economists by surprise.We’re not expecting a notable gain in existing-home sales until the second half of this year, but the (February) improvement is another sign that the market is stabilizing.”
This shows the cyclical nature of the real estate market and free market economies in general. They bounce back. Sometimes on their own and sometimes with the assistance of government. In any case our human nature requires us to seek shelter and therefore makes real estate a necessity, much like increased demand for gasoline in the face of rising prices. I am confident that the national real estate market, with the help of government, will stabilize and become even stronger in years to come.
What You Need to Know about Real Estate Agents March 28, 2008
Posted by admin in : Real Estate, Videos , add a commentRemodeling Parties - Tom Sawyer was Right! March 26, 2008
Posted by ScottAlexander in : Real Estate , add a comment
We all remember when we had to read “Tom Sawyer,” and of course we remember how Tom conned others into painting the fence for him. I thought it was a great idea and spent much of my childhood trying to trick my friends into doing things for me. Let’s just say Tom was more gifted at this than I was.
Well, meet the Tom Sawyers of the 21st century. Homeowners everywhere have hit on a new formula for acquiring that “grunt” labor needed to start a home renovation: HAVE A PARTY! Basically, it’s a cocktail party with power tools. After reading about some of the missteps of some of the contractors/party hosts have had to endure ( cut electrical lines, crooked tile, load-bearing walls knocked down, etc.), I’m not certain that it is a great idea. It’s seems to me that a chain saw and 3 martinis are not a good combination.
But, it could work. What I would suggest is hiring a contractor to supervise for the evening/afternoon. Your free labor would require direction and some perhaps some guidance from you as well. Knowing when you push one of your friends away from the tools and over to a permanent place at the “tap” would be an important task.
Give it a try and let me know how it comes out.
Scott Alexander
(325) 450-5099
scott.alexander1@coldwellbanker.com
http://www.scottalexanderhomes.com
Marriage is What Brings Us Together… March 20, 2008
Posted by AndrewK in : Real Estate , add a commentWhat a beautiful day for a wedding! Spring is (almost) here and the weather is getting better. Wedding bells are ringing for many in San Angelo. This a great time to get out of that stuffy apartment and find a nice home for you and your family. Tired of that pesky neighbor upstairs that seems to always wear combat boots and dance to hardcore music? Sick of not having your landlord make repairs when you ask?
Getting married requires many things. Patience, commitment, passion, and foresight. These are also characteristics of someone buying a home for the first time:
Be patient. You may not find the right home right away. Many people look at over 10 homes before finding the one they will eventually buy. Stick with your agent and trust that the home you want is out there, it just might take a little patience.
When it’s time…Commit! When you find that home that speaks to you and says “Buy me!” don’t let it slip away for fear of buyer’s remorse. Trust your instinct. When the time is right to buy your home, you will know it.
Find what sparks your passion. Are you a car lover and can’t live without that 5 car garage? Gardening is your thing? Take into account your hobbies and pastimes when looking for a new home. This is where you will live.
Look into the future. Are there children in your future? A dog or cat? Whatever you have planned for make sure that you can accommodate your future goals and dreams in the home that you choose. Also, imagine yourself with a nice big check when you sell your home after a few years.
Buying a home is a big step. But it is not as challenging as you think. If it is your first time you have many options. For most the biggest issue is getting a loan or financing. Credit issues being the main culprit here. The Federal Housing Administration or FHA has first time home buyer programs to get you into that first house without weighing your college credit card indiscretions too heavily. Also, VA loans for current or former military personnel are a great way to get into a new home with very little money down.
So You Wanna Be a Real Estate Agent? March 16, 2008
Posted by LarryP in : Real Estate Sales Career Information , add a commentIs a Real Estate sales career really for me?
No matter your stage of life, deciding on a career is one of your most important decisions. You need the most objective information about real estate brokerage available as you consider this professional sales career.
From years of research and experience, we recognize the following as answers to key questions asked to begin the process of looking into a Real Estate sales career:
What is the nature of the job?
Contrary to what most would assume, the job is really not to sell real estate, but to offer a service to help buyers and sellers . A real estate agent has to contact large numbers of people, network and market themselves. Constantly seeking new clients is the core of the job. It is a true sales career.
Along with the sales activities, comes counseling with clients, marketing, showing properties, mortgage finance, scheduling, training, meetings, presentations, closings, negotiating, and more.
More to come….
Insurance Protects Your Home From Disasters March 3, 2008
Posted by AndrewK in : Real Estate , add a commentWildfires ravaged over 200 square miles near Robert Lee last month and many homes were damaged. Did these people have insurance? Do you have insurance? How much coverage do you have? I ask these questions because insurance on your home is very important. According to CNN Real Estate:
” Nearly 60% of homes nationwide don’t carry enough insurance coverage to be fully rebuilt.”
This is a startling piece of information and deserves a deeper look. Insurance not only covers fires, but many other disasters that can destroy your house. San Angelo has many insurance agents that you can consult about these and any other questions you have about insurance and coverage. As a Realtor, I always encourage home-owners to carry the maximum insurance your budget can afford.
Having so many different types of insurance (life, health, home, car) can be very expensive. Most insurance companies offer discounts for combining all of your insurance to one bill. Ask your agent about these discounts.
Scared to Make an Offer? You Have Options! March 3, 2008
Posted by AndrewK in : Real Estate , add a commentSearching for a new home with your real estate agent can be fun and exciting. That is, until its time to put the pen to the paper and it all becomes very real. Does the house have termites (a common occurance in San Angelo)? Does it have structural damage? These are all questions that will be answered in what is called the ”option period.”
When your Realtor writes up the offer for your new house, they will include a clause that gives you the unrestricted right to terminate the contract within a set time frame, usually 7 to 14 days. During this 
time, you should get a mechanical home inspection to check the structural integrity of the home AND a pest inspection to check for wood dwelling insects. Often the results of the inspections are very informative. Often, the results of the inspections can become a new negotiation. Should you not come to an agreement over repairs or credits to the sales price, you may exercise your option to terminate the contract.
For this right to terminate, you must pay the seller a nominal fee. It can be any dollar amount but averages $25-$100. This fee can be credited to the sales price if you decide to move forward with the purchase. However, should you exercise your right and terminate the contract, your fee will be forfeited. This option fee is seperate from the earnest money in your offer. That’s another post for another time.
If you have questions about the option period in your offer, or any other questions don’t hesitate to call (325)944-9559 or email at info@realtalksanangelo.com and we will gladly answer any of your questions.
Posted by AndrewK in : Market Reports, Real Estate