Realestatelicense.com has created this blog to keep you informed on recent real estate news, views, and topics. Real estate is a very dynamic field. Everyday there's something new and exciting happening in the world of real estate. Use this blog to stay on top of current real estate events, news, and views and support your real estate license and career. As a licensed real estate professional, you need to know this information.
1. Organize and Clean Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
2. Have a Pre-Sale Home Inspection Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.
3. Get replacement Estimates Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Spruce Up the Curb Appeal Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
5. Find your Warranties Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
Source: Realtor.org
Ready to make some home improvements? With warmer weather on the way, now is the time to consider your summer projects. Before you hire a contractor, read these helpful tips for hiring a licensed contractor. Maximize your experience by:
- Hiring only licensed contractors
- Asking friends or relatives for recommendations
- Contacting the Contractors State License Board at www.cslb.com.gov or at 800-321-2752 to verify the contractor's license
- Making sure that the contractor has worker's compensation insurance and general liability insurance - this will cover any accidents that occur on the job
- Getting three references and reviewing past work
- Getting at least three bids
- Getting a written contract - don't sign anything until you completely understand the terms
- Ensuring that the contractor gets all of the necessary building permits
- Paying 10 percent down or $1,000 whichever is less
- Not letting the payments get ahead of the work
- Not paying cash
- Not making the final payment until you are satisfied with the job
(Source: WannaNetwork.com)
Ready to
obtain your real estate license, but need some positive incentives? Read on.
According to a recent report from NAR, pending home sales rose in February, potentially signaling a second surge of home sales in response to the home buyer tax credit.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Learn more now - check out this interview with Lawrence Yun, NAR chief economist, who believes that, "The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring."
Source: www.realtor.org
According to the National Association of Realtors 2009 Profile of Home Buyers and Sellers, first time home buyers made up 47% of the market during that year. And with luring incentives like the federal tax credit, low mortgage rates and affordable housing, this statisitc may not comes as a great shock.
So, who are these first time home buyers, what do they want and what makes them tick? If you have your
real estate license, or even if you're simply thinking about it, you need to know the answers to these questions. Check out research from NARs 2009 Profile of Home Buyers and Sellers:
Most are married. 49% are a married couple. Next, single females comprise a quarter of first-time buyers. Single males account for 12%.
They're Young. 53% are between the ages of 24 to 34. 12% are younger than 24.
They're Diverse. 22% are part of a minority group. 6% speak a language other than English and 12% were not born in the United States.
They Like Suburbia. 22% purchased in an urban area, while 52% percent preferred the suburbs. The remainder gravitated towards a small town.
They Take their Time. First time home buyers take approximately 12 weeks to find their home. Repeat buyers took approximately 10 weeks.
Foreclosures Interest Them. 11% of first time home buyers bought a foreclosed home, while 56% considered it. Only 9% of repeat buyers bought a foreclosed home, while 41% considered it.
They're Most Likely to Use a Referral. 53% found their agent through a referral, compared with 36% of repeat buyers, many of whom sought the services of their previous agent.
According to housing economists, 2010 will be an even bigger year for first time home buyers. Get your real estate license online or
renew your real estate license online - you don't want to miss the opportunity to market your services to this group.
Source: realtor.org; 2009 Profile of Home Buyers and Sellers
You might think that in today's real estate market, it's a good idea to wait and sell your house when the industry gains strength. However, there are some really compelling reasons to take action and sell your house now in today's current market. Why? Read on…
1. You might sell low, but you can buy low too - Your property value may be down but you are going to buy low too, making everything equal. Plus, if you get a good bargain, which is abundantly available in today's market, you'll make gains in the years ahead – a plus for your financial portfolio!
2. There is down payment help to be had nationwide - Today, you do need to have some money to put down on a house – gone are the days of zero-down financing. But there is assistance available for low-income and first-time buyers to help them get into a house. Do your research - there is help readily available across the country. Programs will vary based on where you live - check online or consult a real estate professional.
3. Take advantage of government-based programs - There is still time to take advantage of the $8,000 first-time home buyer tax credit and the $6,500 move-up credit if you act fast. If you miss these benefits, there are still energy tax credits available that can put money in your pocket for making home improvements.
4. Real estate professionals are ready for business - There are dedicated real estate professionals, who have are established in the field, that are eager for real business. Consult you local agents, brokers, contractors and lenders - they will be willing to really work for you and get you into the house of your dreams.
Source: McClatchy Tribune, Kate Forgach (02/07/2010)
You
obtain your real estate license and take on your first listing. You're excited. However, there's a problem. From a showcase cabinet full of dusty dolls that are straight out of a horror movie to heavy drapery that defies sunlight and the faded, 1970's couch that's way past its peak - the living room is a designer's nightmare.
Don't worry. By mastering a few, simple staging techniques, you can turn that eyesore into a comfortable setting that's more inviting than scary. Check out this video from Realtor TV and see how staginhg can transform a space for the better.
Source: Realtor.org
Once you
obtain your real estate license, you may disciver that a little creativity can go a long way. And when it comes to getting a house sold, open houses and marketing flyers are just the beginning. Check out these out-of-the box ideas from www.realtor.com and see how agents from coast to coast are successfully selling homes using some uncommon tactics.
1. Organize a Raffle. Partner with a charity to raffle the house. That's what Tom and Dianne Walters did when they needed to quickly sell their 4,500-square-foot, six-bedroom home in Edgewater, MD. The couple partnered with the Annapolis, MD., charity We Care and Friends, which administered the raffle and received 10 percent of the ticket sales. We Care sold 23,000 tickets through the site www.fiftydollarhouse.com. Although the Walterses needed to sell 31,500 to break even on the property, all parties involved felt it was a win-win.
2. Have a Sleepover. Take inspiration from the HGTV show "Sleep On It" and give buyers a chance to try out a house. Apparently, some sellers are doing just that, allowing one-or-two-night stays to give serious buyers a feel for the house and the neighborhood. As a special touch, owners can leave a gift certificate to a local restaurant or a free gym pass for prospective buyers to enjoy.
3. 'Invite' a Celebrity. Real estate practitioners are pros at editing garbage cans and lawn clutter out of photos, but have you ever thought about adding whimsical images to your interior shots? In her Ink blog, media maven Barbara Corcoran of New York suggested this example: a photo of Marilyn Monroe in the listing's living room. Tip: Expect to pay for celebrity photos, and remember that copyright laws apply to photography as well as text.
4. Appeal to Their Good Taste. Some practitioners are serving high-end lunches at their high-end listings. One salesperson in Florida parked a latte cart outside her listing and sold the house nine days later for $23,000 more than the asking price. Have multiple listings on a block? Team up with colleagues to host an open house block party.
5. Go for More Exposure. That huge billboard that you drive by every morning could be yours for less than you think. Typical suburban billboards rent for as little as $400 a month and cost about $100 to produce. Another tactic: Use a car magnet that advertises your Web site. For a few dollars, you can advertise your listings all over town.
Source: www.realtor.org
Want to
obtain your real estate license? Now might be the right time. In an interview with the San Diego Union-Tribune, Michael Lea, director of the Corky McMillin Center for Real Estate at San Diego State University, says he is encouraging students to study real estate because we are at the bottom of a cycle. By the time these students have graduated, he believes the industry will have recovered.
"I don't think we'll ever again see the 2005-2007 heyday in real estate. That was an anomaly, and actually, I hope we don't go back to that. But within real estate, there are a lot of opportunities, such as property management and lending," he says.
Lea sees apartments as a particularly bright spot.
"I think as more people realize that homeownership is not quite what it was cracked up to be, we're not going to have marginal people buying homes any more," he says. "That's ultimately going to mean more people going back to the rental sector. We're growing as a population, and people have to live somewhere, so I think the rental market is in relatively good shape and will strengthen as we go forward."
Source: San Diego Union-Tribune, Roger Showley/www.realtor.org (02.08.10)