More from the Good News Channel!

Buyers Getting off the Sidelines

The Mortgage Bankers Association of America reports that in its national survey last week, applications for new, conventional loans to buy houses jumped by 11 percent -- and applications for FHA insured mortgages were up by 17 percent. With home prices sharply discounted in many of the former high-flying boom markets, and down slightly in many other areas, smart buyers are recognizing that it's time to make their move.

-- “Real Estate Outlook: Buyers Off the Sidelines,” by Kenneth R. Harney, Realty Times,June 19, 2008.

Lansing Funnel Cloud June 7, 2008

Luckily no major damage or injuries from this scary storm.

Photo taken by a Lansing resident.

Tips for Increasing the Return on Your Home

Whether the market is slow or not, there are a few ways to increase your return in the sale of your home. The first is to "update" your home. Consider replacing old fixtures, old counter tops in Kitchen & baths. Remove out-of-date wallpaper & add a fresh coat of paint. Reface or replace the cabinets. With some updates you will make it stand out among the competition, and believe us, you have lots of competition!

New carpeting in neutral colors will greatly improve the look of your home. The old saying: “The buyers are just going to change the carpet to their own colors,” is not the way you should be thinking. You have to make the home look “updated” in order to get the buyer to even consider buying it!

Remodeling your kitchen or bath is in the big "plus" category. Don’t forget curb appeal. This will get the prospective buyer in the door and many buyers check out the area and exterior before deciding if they should go inside. Give your home that new paint job. Cut, trim & edge the lawn. Add some flowers, clean up the clutter. A little remodeling will not only bring it up to date, but make it stand out in the minds of potential buyers.

Give us a call. We know what is selling and we would be happy to make suggestions to get your home in salable condition!

How to Price Your Home to Sell

As a seller, you must strike a delicate balance between setting a price high enough to reflect the full value of your home and setting a price too high for the market to bear.
The following steps can help you determine a list price that finds that balance.

Here’s how we can help you:
We will perform a Comparative Market Analysis (CMA) to help you accurately determine the selling price of similar homes
We will analyze sales data and calculate market trends.
Make an impartial assessment of how homes for sale in your neighborhood compare to yours in terms of size, location, amenities and condition.
Give you an honest assessment of your home’s saleable condition and what you may need to do to get it sold.

Comparative Market Analysis and Market Research
We can accurately measure the value of your home through a comparative market analysis (CMA). A CMA provides information about recent selling prices of similar properties in your market. They also include information about area homes that failed to sell in recent months along with their corresponding list prices. We can help you obtain and analyze this critical information.

What Can I Do to get my Home Sold?

Q. My home isn’t selling. What can we do to get it Sold!!

A. Well, if we knew the complete solution, we could end the housing slump and turn the U.S economy around. Unfortunately, there are many reasons why homes do not sell quickly.
A year or two ago, homes in any condition were selling as long as they were priced at market value..... Dirty homes, homes that were not updated, along with beautiful & updated homes. There were plenty of buyers for homes in all conditions. We had investors. We had buyers with marginal credit scores. We had everyone wanting to cash in on the housing boom.

That’s not happening now. The homes that are selling are the homes that are clean, sharp & updated. That’s what today’s buyers want. If you have less than that, you will have to price your home less then those who have kept their Home updated. Those who kept their investment up…spent the money to keep it looking great, are the ones rewarded in this kind of market. Reality hasn’t set in on those who did not update & think their home is worth much more than it is. It doesn’t matter what you think your home is worth. It’s what the market says it is worth.

If you are thinking of selling. Give us a call. We’d be happy to come by and tell you what you need to do to get your home sold. Sometimes it doesn’t take much to get top dollar for your home. We are here to help you.

Q. Are there any positive improvements to the local real estate market?
Yes, there are several:

1. Homes sold per Month are increasing. The past 3 months there were 15.3 sales per month. We currently up to 23.0 sales per month.

2. Pending Sales are up. In February there were 23 homes awaiting closing. There are currently 43 homes awaiting closing.

3. Buyers are still uncertain of making a real estate investment & fewer buyers qualify for a loan under the stricter lender guidelines. The good news is that the current buyers are
more qualified and the chance for a successful closing are higher than ever!

4. Coldwell Banker properties are being viewed more. We track the number of showings on our office listings. There were less than 100 showings per week back in January. We are now up to almost 180 per week now.

Realtor Humor

The Realtor and the Dog:
I pulled into a crowded parking lot and rolled down the car windows to make sure my golden retriever had fresh air. She was stretched out on the back seat, and I wanted to impress upon her that she must remain there. I walked to the curb backward, pointing my finger at the car and saying emphatically, "Now you stay. Do you hear me?... Stay!.. Stay!" The driver of a nearby car gave me a strange look and said. "Why don't you just put it in park?" ??