W e l c o m e!
First time home buyer?
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a quick video on how to
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to consider before jumping
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First time home buyer?
Are you a ‘contrarian’? I know that when it comes to investing my money, I most definitely am. Experience has taught me that if I do the opposite of what everyone else is doing, I usually make a great investment. And while being a first time home buyer in this current economy may be scary to you, consider this: today, there are opportunities to purchase real estate at prices which occur only once-in-a-generation. The combination of low prices and low interest rates makes over 70% of homes on the market today affordable to families earning the median income. This is the highest it has ever been since they started keeping records in 1991. (Click here now for the report from the National Home Builders Association.)
While there are no guarantees that the property you purchase today will be worth more next year, over the long haul you will look back at this time and wish you had the ability and the foresight to buy more! The economy always moves in cycles. And some of the fortunes of today’s millionaires and billionaires are a result of opportunities seized during down times in the economy.
These are the conditions that create opportunities for great fortunes to be made…
I heard personal finance commentator Terry Savage speak at a luncheon recently. In 1974, through a series of circumstances, she happened to share a cab ride with A.N. Pritzker – progenitor of the family empire that would eventually go on to own Hyatt hotels, the Marmon group of manufacturing companies, Trans Union credit reporting bureau and The Royal Carribean cruise lines. In Chicago, the Pritzker name can be found on more charitable institutions and organizations then can almost be counted. And still today, even after being broken up among all the heirs, the Pritzker family is still one of the richest families in America. A.N. was 78 years old at the time that this cab ride took place and Terry seized this once in a life-time opportunity to ask him how he was able to create such a huge fortune – how did it all begin? His response? He bought his first hotel in 1933 – during the deepest, darkest days of The Depression. She asked, “How were you able to do that and not succumb to the fear that was prevalent all around you at that time?” He replied that he was able to recognize the opportunity and knew that someday the economy would eventually come back.
These market conditions will not last forever. When would now be a good time for you to get started building YOUR family’s fortune?
Here is another point to consider:
Let’s say, just for the sake of argument, that the home you purchase today does NOT increase in value over time. Does owning your own home still make sense? Let me answer that by asking you another question: What happens when you buy a car? When you buy a car, do you expect to sell it for more than what you paid for it? And what about buying a new car? The moment you drive it off the lot, it loses 20% – 25% in value. Does that prevent people from wanting to buy a car? Of course not! And is it not true that there is something about owning a new car that makes buying and owning one highly desirable? In fact, owning a brand new car is something that many people actually aspire to!
And so it is with owning your own home. Owning your own home gives you control over your own destiny. You can choose where to live and how you want to live – where and how you want to shelter your family. Being a homeowner invests you in your neighborhood and in your community.
Click here now to watch a quick video for what you need to do to get started to create YOUR family fortune!
Home-seller? The 2 Biggest Mistakes To Avoid:
Homeowners asking me, “Do you think it is possible to get my home sold in this market”, often approach me. I answer them an unequivocal “YES!” Oddly, there seems to be a perception among homeowners today that they are ‘stuck’ with a property they are unable to sell. There are two mistakes that I see homeowners commonly make and it is costing them thousands of dollars!
I) To Get Top Dollar, You Must Have Multiple Offers
Yes – multiple offers are not only possible but probable if - AND ONLY IF – your home is positioned properly on the market. Contrary to what the media will have you believe, there is not sufficient inventory of solid, well-kept homes on the market. Yes, foreclosures are at record highs and they are a glut on the market. But the typical foreclosure is NOT a suitable purchase for your typical homebuyer. These properties are the purview of investors and contractors who have the wherewithal to rehab them.
The other statistic that the media is not fond of sharing with the public is the amount of demand for housing. Economists don’t agree on much – but they all concur that there is a huge pent-up demand. Builders have all but stopped bringing new inventory to market. Meanwhile, the population continues to grow. People need a roof over their heads – they have to live somewhere, after all. And moving in with Mom and Dad only works until the first baby arrives.
I see it time and time again – even in this market: properly priced homes that are in good condition and which show well are sold within hours or days – NOT weeks or months. And quite often for the asking price or above! How is this possible? Because the home was properly positioned in the market and received multiple offers!
II) To Get Top Dollar, You Must Be Able To Properly Gage The Buyer’s Interest
When a buyer goes through a home, they are not likely to disclose their true interest in the home. In fact, if they fall in love with home, they are apt to NOT let on their interest or excitement. They do not want to impair their negotiating position by giving away their true motivation. The home seller is rarely in the best position to know whether or not the buyer is truly interested in their home. It takes an experienced agent who knows how to talk to the buyer to properly ascertain this interest and how to most effectively negotiate the buyer’s offer.
Some sellers will ‘give away the store’ too quickly while others will negotiate too hard to maintain their price and end up losing the buyer altogether. How to properly balance the negotiating strategy is probably the single biggest reason a seller will want to work with an experienced agent.
Click here now for some additional insights to consider before jumping into this market as a seller.