Mar 232013

Pricing A Home To Sell

7 Deadly Sins of Overpricing

All real estate experts would agree that the best way to increase your odds of a successful sale is to price your home at fair market value.  But, as logical as this advice sounds, many sellers are still tempted to tack a few percentage points onto the price to “leave room to negotiate.” To avoid this temptation, let’s take a look at the seven deadly sins of overpricing:


  1. Appraisal Problems.  Even if you do find a buyer willing to pay an inflated price, the fact is over 90% of buyers use some kind of financing to pay for their home purchase. lf your home won’t appraise for the purchase price the sale will likely fail.
  2. No Showings.  Today’s sophisticated home buyers are well-educated about the real estate market. lf your home is overpriced, they won’t bother looking at it- let alone make an offer. In fact statistics show that you will receive a higher percentage of your list price if sold within the first 60 days of listing your property.
  3. Branding Problems.  When a new listing hits the market, every agent quickly checks the property out to see if ifs a good fit for their clients. lf your home is branded as “overpriced’, reigniting interest may take drastic measures.
  4. Selling the Competition.  0verpricing helps your competition. How? You make their lower prices seem like bargains. Nothing is worse than watching your neighbors put up a sold sign.
  5. Stagnation.  The longer your home sits on the market the more likely it is to become stigmatized or stale. Have you ever seen a properly that seems to be perpetually for sale and wonder what’s wrong with that house?
  6. Tougher Negotiations.  Buyers who do view your home may negotiate harder because the home has been on the market for a longer period of time and because it is overpriced compared to its competition.
  7. Lost 0pportunities.  You will lose a percentage of buyers who are outside of your price point.  These are buyers who are looking in the price range that the home will eventually sell for but don’t see the home because the price is above their present budget.

Most buyers look at 10 – 15 homes before making a buying decision. Because of this setting a competitive price relative to the competition is an essential component of a successful marketing strategy!

Our professionals have the experience and expertise to provide the proper guidance in pricing a home for sale.

Jan 152013

 How To Stop Paying Rent and Own Your Own Home

“If you’re like most renters, you feel trapped within the walls of a house or

apartment that doesn’t feel like yours .”


 Don’t Pay Another Cent in Rent To Your Landlord . .

It’s a dream we all have – to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle. You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home.


Don’t Feel Trapped Anymore

It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem.  The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:

• save for a downpayment

• stop lining your landlord’s pockets, and

• stop wasting thousands of dollars on rent.


6 Little Known Facts That Can Help You Buy Your First Home


The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows that you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a downpayment on something more permanent. But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:


  • You can buy a home with much less down than you think.  There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered.  Ensure your real estate agent is informed and  knowledgeable in this important area and can offer programs to help you with your options.


  • You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car for example), your lending institution may be able to lend you the downpayment for your home by securing it against this asset.


  •  You may be able to find a seller to help you buy and finance your home.  Some sellers may be willing to hold a second mortgage for you as a “seller take-back”. In this case, the seller becomes your lending institution.  Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.


  • You may be able to create a cash down payment without actually going into debt.  By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a downpayment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.


  • You can buy a home even if you have problems with your credit rating.   If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller takeback mortgage could also help you in this situation.


  • You can, and should, get preapproved for a home loan before you go looking for a home. Preapproval is easy, and can give you complete peace-of-mind when shopping for your home.  Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can

all be done quite easily over-the-phone.  More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit

application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.  Consider dealing only with a professional who specializes in  mortgages.  Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

There are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning.  This conversation costs you nothing.  And, of course, you shouldn’t have to feel obligated to buy a home at the time you review this. But by taking the time to explore your options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.

Aug 042012

Its a great time to Buy a Home!

The real estate market is improving and one major factor is mortgage interest rates.   Conventional rates with 20% down are 3.5% for 30 year terms and 3% for 15.  FHA rates are even better with 30 year rates at 3.25% and 15 year terms 2.75%.

FHA requires just 3.5% down, but you must pay mortgage insurance premiums. The chart below shows monthly principal, interest and mortgage insurance payments on a $200,000 loan principal (excluding insurance and property taxes):

30 Year 15 Year
Conventional 20% Down $898.09 $1,381.16
FHA 3.5% Down $1,078.75 $1,457.24

FHA Mortgage insurance varies based on down payment and loan term.

On loans with greater than 15 year terms, the new amount depends on the down payment.

On or after 4/9/2012 on any loan amount – If the loan to value is <= 95%, the new Annual Premium is 120 basis points (bps). If the loan to value is >95%, the new Annual Premium is 125 basis points (bps).

On loans equal to or less than 15 year terms with Loan to Value above 78%, the new amount depends on the down payment.

On or After 4/9/2012 on any loan amount – If the loan to value is <= 90%, the new Annual Premium is 35 basis points (bps). If the loan to value is >90%, the new Annual Premium is 60 basis points (bps).

Note: SF forward mortgages with amortization terms of 15 years or less, and a loan to value ratio of 78% or less, remain exempt from the Annual MIP (Mortgagee Letter 2011-35).

Increase to Up-Front Mortgage Insurance Premium
The UPMIP will be increased from 1.0% to 1.75% of the base loan amount. This applies regardless of the amortization term or LTV ratio. The increase in UPMIP will be effective for all case numbers dated on or after April 9th 2012.



 Posted by at 12:03 pm
Jun 232012

Welcome to our new website.  We designed it to reflect our mission and vision for the future.

We have always been a small, people-driven Company.  Going forward we are excited to also offer our clients:

  • Guaranteed performance
  • A new 68 point marketing program for your homes
  • Our exciting “Certified Pre-Owned Home Program”
  • Maximum internet exposure for listings
  • Our Communication Guarantee
  • “Easy Exit” listings
  • Our “smart Seller Program” for those striving to sell their home themselves
  • The ability to search for homes through our website
  • Up to the minute foreclosure listings and HUD homes
  • Up to the minute rental listings
  • And lots more to come!

We are also excited to be able to communicate and provide information through our Blog.




 Posted by at 11:43 am