4 Reasons to Sell During the Holidays



Welcome back! The holiday season is here and every year we get asked whether it's best to sell during the holidays or wait until spring. You might be surprised to find out that selling during the holidays actually puts you at a huge advantage.
  1. There is less competition - During the winter and holiday months, fewer people put their home on the market, making your home more valuable.
  2. Buyers are more serious - If buyers are taking the time out of their busy holiday celebrations, you know they are ready to buy. So while you may have less showings, the ones you do have will be quality. 
  3. You don't have to move during the holidays - You might be thinking selling now means packing up and moving Christmas day. The truth is banks are slower and the closing process takes longer - about 45-60 days. That means you won't have to move until January!
  4. Homes look better - Who doesn't love holiday decorations and lights and the smell of holiday cooking? Buyers become emotional seeing your home look so perfectly.
These are four great reasons why you should consider selling your home now. If you have any questions, please give us a call at 912.272.3463

Happy Holidays!

Why Hasn't My Home Sold Yet?



Welcome back to our video blog. We at the McIntosh Team really appreciate all the questions you are sending to make this blog successful. Today's question is from a FSBO (For Sale By Owner) and they wanted to know why their home isn't selling. While I don't know the exact details of the home, there are five elements to selling a home.
  1. Price - Price is the most important factor. Make sure your home is priced competitively with others comparable.
  2. Condition - Make sure your home shows well, not only in person but also through marketing.
  3. Marketing - Make sure everyone who is looking for a home, knows yours is for sale. Get on as many websites as possibles.Most buyers today start their search online.
  4. Location - Obviously we can't change location, but we can make up for location through price and condition.
  5. Accessibility - A lot of times it's hard to be as accessible as needed when selling a home. Sometimes buyers don't give much notice, but it's important to let them come.
These are five elements important to selling your home. If you have any questions about your home specifically, please give me a call. Let's figure out what's going on with your property.

Selling with a Contingency



Welcome back to my video blog! Have you ever heard of contingency offers? I get asked about these a lot.

There are different types, but the most popular occurs when a potential buyer wants to purchase a seller’s home, but the buyer must sell their property first; the sale of one home is contingent on the sale of another.

How do you handle this situation as a seller? The good news is you have some options. You can decline their offer or you can accept the offer with the contingency, but you can add a ‘kick out clause’

What’s a ‘kick out clause’? The seller tells the buyer they accept the offer, but they will continue to market their home. If the seller receives another offer they will get the first buyer a deadline to either move forward or withdraw their offer. This way as a seller you have the choice between two solid buyers.

I hope this answers questions you may have about contingencies. If you have any other questions, please give me a call. Thanks so much for watching!

The Importance of First Impressions and Curb Appeal



How important is curb appeal when making a first impression?

Curb appeal is extremely important. Buyers often like to drive by a home so its vital that your lawn is manicured. If you have children, limit the number of toys in the area. Clean up the oil stains on the driveway.

Just as important, if not more, is how your home looks online. Did you know that 95 percent of buyers start their search online? The photographs and virtual tours are the determining factor whether a buyer wants to take the time to see your home in person.

You need good photographs and a proper staging to showcase your home in the best way possible.  Your online profile is like an open house to buyers behind their computer screen. Put your best foot forward.

If you have any questions, please give me a call at 92.272.3463. Thanks for watching!

How to Prepare Your Home for the Market



Welcome back to our video blog! A lot of sellers ask us what they can do to get their home ready for the market.

The most important step in getting your home ready is to make it appealing to the buyers. How do you do that? Imagine your home is a model home. Go ahead and start packing; take down the personal items and remove any clutter. Your buyer should be able to picture their life in the home.

You also want your home to be in good condition. That doesn’t mean just aesthetically, but structurally and mechanically, as well. It’s important to address any repairs before the buyer looks at the home. If you leave it up to the buyer, one of two things could happen: 1) the buyer could disregard your home all together because they don’t think you have the means to fix it or 2) they will automatically reduce their offer because they think the home is worth less than the listed price.

Addressing the problems before can prevent you from losing a bid and losing money.

I hope you found this information helpful. If you have any questions or are thinking about buying, selling, or investing, please give me a call at 912.272.3463

Thanks for watching!

The Government Shutdown Effects On the Real Estate Market



From: http://www.forbes.com/sites/morganbrennan/2013/10/01/heres-how-the-government-shutdown-will-affect-housing/

By:  Morgan Brennan, Forbes Staff

The government shutdown is here. Whether it’s not being able to get a new Social Security card or visit a national park, Americans will immediately feel the effects. But there’s one bright spot of the economy that stands to be affected as well: housing.

One of the biggest questions regarding the shutdown and how it will affect housing has revolved around the mortgage market, specifically prospective buyers’ access to new home loans. After all, more than 90% of all loan activity is underwritten, insured, or owned by the government and its affiliated entities.

Initially at least, the mortgage market is likely to be only minimally impacted. New loans will continue to push through most government agency pipelines. What will change is how long the process takes, as many agencies expect to experience delays.

Mortgages purchased and securitized by Fannie Mae and Freddie Mac will be unaffected because their operations are paid for by fees charged to lenders. And the Department of Veterans Affairs will continue to guarantee mortgages for Americans that have served in the military since these loans are funded by user fees as well.

But if the government shutdown of 1995-1996 is any indicator, the process will take longer than usual. “Loan Guaranty certificates of eligibility and certificates of reasonable value were delayed,” the VA warned in its September 25th contingency plan.

Where there has been mounting concern is the Federal Housing Administration, which currently endorses about 15% of the entire single-family mortgage market. Several media outlets recently reported that the FHA would be unable to endorse any single-family loans and that no staff would be available underwrite and approve new loans.

That prospect would be somewhat worrisome – if it were actually true. The FHA’s Office of Single Family Housing will indeed remain open for business, albeit with a smaller staff. “FHA will be able to endorse single family loans during the shutdown. A limited number of FHA staff will be available to underwrite and approve new loans,” the report now states. In other words, other lenders’ loans will continue to be insured and some in-house lending will continue to take place at a reduced rate.

The reason for that mix-up: the initial draft of the U.S. Department of Housing and Urban Development’s contingency plan mistakenly stated that single-family loan operations would cease. The report was amended over the weekend.

The FHA’s single-family loan operations are funded through multi-year appropriations, meaning their budget is not tied to the government’s standoff over funding for the new fiscal year that starts in October. On the other hand, what will be more affected is the agency’s Multifamily Housing Office, which is funded through yearly appropriations.

“Because we are able to endorse loans, we don’t expect the impact on the housing market to be significant, as long as the shutdown is brief,” continues the HUD report. “If the shutdown lasts and our commitment authority runs out, we do expect that potential homeowners will be impacted, as well as home sellers and the entire housing market.”

One government lender that will indeed suspend its home loan activity, however, is the Department of Agriculture. The USDA says that no new housing loans or guarantees will be issued through its Rural Development programs in a shutdown. The department also warns that such a scenario could cause “a setback in construction start-up,” and if the shutdown lasts for an extended period, “a substantial reduction in housing available in rural areas relative to population.”

“The government doesn’t generally approve loans, they basically just insure them,” says Don Frommeyer, president of the National Association of Mortgage Brokers and a vice president at Amtrust Mortgage Funding. “For the most part you aren’t going to see much of a hit in the mortgage market unless it goes for a long period of time.”

If it does stretch on, he adds, the worry will be what mortgage rates do in a market shrouded in fiscal uncertainty and how that will affect the home buying, especially in light of recent rate spikes.

Home lending aside, many economists and real estate experts are keeping a close watch on how Americans will react to this shutdown. “Administratively everything should keep moving along, but it’s more about the confidence of consumers and whether they perceive that the government shutdown could lead to a recession,” says Lawrence Yun, chief economist at the National Association of Realtors.

Moody’s Analytics chief economist Mark Zandi recently told the Senate Budget Committee that a partial shutdown could shave as much as 1.4 percentage points off of fourth quarter economic growth if it drags on for several weeks.

Americans’ confidence in their ability to buy and sell homes hit a record high in May, according to a Fannie Mae survey. Since then, as mortgage rates jumped more than a percentage point, that confidence level has plateaued.  If prospective homebuyers fear that the country’s economic recovery will stall, or worse slip back into recession, they will pull back on purchases, worries Yun.

“Home sales is always the first housing variable that changes so one would see sales declining and that would naturally lead to more inventory on the market and eventually put pressure on prices,” he says. But that would be a worst-case scenario based on a long-term shutdown.

Jed Kolko, chief economist at Trulia TRLA +6.43%, notes that if the shutdown lasts longer than a few days, the first places to feel the impact will be local economies with large concentrations of federal government workers. Metro areas like Washington, D.C. and Bethesda, Md., where 19% and 13% respectively of total local wages go to federal employees, would be the feel the negative effects of unpaid furloughs and with them, tightened consumer spending and weakening local economic growth. Though not all will be equally affected, other metro areas like Virginia Beach, Va., Honolulu, Hawaii, and Dayton, Ohio are areas that Kolko is keeping an eye on: “Whether there is a big effect depends on how long the shutdown lasts, how long people think the shutdown lasts, and whether people get back-pay. All those things matter for the impact.”

Still others are worrying even more about the next fiscal standoff, in  mid-October, surrounding the debt ceiling debate and its accompanying threat of debt default by the U.S.  ”With the threat of an impending partial government shutdown and yet another battle over the nation’s debt ceiling, in particular, we are really messing with fire right now—even if it doesn’t seem to bother some legislators,” says Stan Humphries, chief economist at Zillow.

“But the effects of a government default associated with the impending debt-ceiling deadline would be more pronounced because of its greater impact on domestic and international markets. This will rattle consumers and investors alike, slow down the overall economic recovery and further slow the housing recovery, which is already undergoing a moderation in the pace of home value gains due to rising mortgage rates,” he warns.

How to Choose the Best Realtor



Welcome back to my video blog!

How do you choose the best real estate agent when buying or selling a home?

It’s very important to interview at least 3-4 different agents. You want to find an agent that has a personality you will mesh well with. You also want an agent with experience.

Some new agents have a lot to offer, but depending on your needs, choosing a realtor with years in the field can help make the process a lot easier for you.

Ask your family and friends who they would recommend. This way you have knowledge of their service and work ethic.

We have a 16-question survey we can send to you to help find the best realtor. Just call or send us an email!

The Effect of Rising Interest Rates



How Are Rising Interest Rates Affecting You? 

Hey, everyone! There has been a lot of talk about interest rates lately and how they affect our market. In the past 30-45 days, interest rates have crept up.  This has created a sense of urgency for many buyers; they want to get the most house for their money.

Today, I wanted to tell you more about how increasing rates affect your monthly mortgage payment. If you borrow $200,000 from the bank at a 4 percent interest rate, your monthly payment for a 30 year fixed rate loan is $954.

If rates rise to 5 percent, that same loan will cost you $1,073 a month. And if interest rates increase to 6 percent, your payment will be $1,199. That’s a $245 difference per month.

The good news is it is still a great time to buy; buying is cheaper than renting.

Buy that new home now before rates increase and you lose buying power. Give me a call at (912) 272-3463.

Selling Your Home in a Changing Market

 

Thinking of selling your home? Check out our Free Home Value Report!

Hi everyone! Today I wanted to speak with you about a topic that’s come up a lot during listing appointments. Clients want to know how to sell their home in a changing market.

What I am finding is often sellers want to price their home at top value and see what happens. If the activity isn’t there, then they will just drop down the price. It’s important for sellers to know that buyers are very informed these days. They have access to countless resources especially on the Internet. Statistics show the 9 out 10 buyers actually start their search on the Internet.

Even though we are in a shifting market, buyers still want to get a good price. One thing to remember is each neighborhood will have an average price per square foot and if a home comes on that is listed higher than that, that new listed home is less desirable.

We find that the greatest chance of activity happens within 3-7 weeks. After a few months on the market, often buyers will think sellers are more motivated to sell, so they offer less. Statistics show when you price a home properly in the first place you will sell quicker and closer to your asking price. Remember, the largest determining factor on whether a home will is its price.

I hope I’ve given you some things to think about when you are getting ready to sell your home. If you want a free market analysis, get a hold of us! We would love to help you make your next real estate move!