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.
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)
Want to get your
California resl estate license? Now might be the right time. For example, the median home price in the nine-county San Francisco Bay area increased 15.2 percent in December compared to a year ago, reaching $380,000, according to MDA DataQuick. And in Southern California, the median home price increased 7.5 percent to $360,000.
Economists say the improvement in coastal California was driven by jobs and the increasing availability of venture capital. California is often considered a bellwether of trends in other areas of the country.
Source: The Wall Street Journal (C. Tuna 02.02.10)
California real estate agents and brokers who perform residential
mortgage loan originator (MLO)activities will now need to obtain an MLO license endorsement. Why?
The Housing and Economic Recovery Act of 2008 has set forth new regulations. And a section of Title V called the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E.) is of particular importance to individuals who perform MLO activities. And in the State of California, this act has set a precedent for how real estate agents and brokers who execute MLO activities will conduct business in the future.
Basically, the SAFE act is about greater accountability. Its main purpose is to increase consumer protection and decrease fraudulent activities.
According to the California Department of Real Estate (DRE), here's what you need to do to obtain your MLO license endorsement:
-Successfully pass the national and California components of the SAFE mortgage test
-Submit an MLO licensee endorsement application (after DRE joins NMLS&R in March 2010)
-Submit fingerprints to the NMLS&R
-Satisfy 20 hours of pre-licensing education
-Submit authorization for the NMLS&R to obtain a credit reportVisit
www.dre.ca.gov/lic_safe.html for complete details concerning California MLO license endoremsent requirements and due dates.
Are you a real estate agent or broker from another state and wondering if you also need to obtain an MLO license endorsement? Visit the NMLS Web site and check the
state licensing requirements page to learn more. Regulations and due dates vary by state. In fact, according to the NMLS, it is individual state law that determines when you must pass the SAFE mortgage test, complete education and/or continuing education courses and a background check.
Attention Realtors - once you complete your required
real estate education and
obtain a real estate license, you will be ready to enter an industry that is heavily influenced by the green movement.
In fact, in addition to demanding eco-friendly materials that will cut home energy costs, consumers also want these environmentally-friendly materials to have major design appeal. And the good news is that consumers are willing to pay more to save on utility costs (NAHB 2007 Consumer Preference Survey).
So, how can your home seller incorporate a few green upgrades to attract the growing numbers of environmentally-conscientious home buyers? Why not focus on one of the home's major assets - the kitchen. Here's a video from REALTOR TV to provide you with tips and inspiration that will help you to better advise your clients.
Media Source: REALTOR TV (BETA)
Texas continues to beat the rest of the U.S. in housing affordability, according to 2009 first-quarter statistics from the Real Estate Center at Texas A&M.
The Center uses a Texas Housing Affordability Index (HAI) to compare the ability of a Texas median-income family to purchase a median-priced existing home in their area vs. consumers in other states. Where higher numbers are better, Texas had a ratio of 1.95 in first quarter 2009 compared with 1.55 nationwide.
"Texas continues to maintain its place as the most affordable high-growth state in the country," says Jim Gaines, Ph.D., research economist.
Source: Real Estate Center at Texas A&M