When the thermometer dips to freezing, the snowbirds head South. Being a true native Floridian, when the temperature was expected to dip to freezing, I took the cue from my Northern friends and headed South -- to South America. To summertime, to long hot days, to sunsets at 8 p.m.
Meeting select Americans who serve our country at this southern tip of the world, I found their perspective of the United States insightful. Whether Democrat or Republican, the support of the new president, Barack Obama, is incredible. Views from outside the U.S. resonate the uplifting nature of a new beginning, a fresh start for the United States of America.
Positive in the economy, positive in housing, positive in the American dream. A woman in Montevideo, Uruguay, asked me, "You are an American?" When I nodded and smiled, she continued, " 'We' have a new president of the world. When the United States elects a president, he becomes the president of the world." How powerful, I thought, "president of the world."
Although we in Brevard County have not suffered as severely as the rest of our nation, as the temperatures dip to give us a taste of the cold, we have felt but a taste of the tough economy.
Soon the sun will warm us, the beaches and rivers will come alive with activity, sending a positive flurry to our housing market -- the basis of our economy. Interest rates are fluctuating at times lower than 5 percent.
We look forward, with hope, to the new president and an upswing in our economy. The world is watching.
Sunday, January 25, 2009
Sunday, January 18, 2009
Staging home can boost sale!
The hottest market in real estate is under $100,000, followed by the under $200,000 price range for homes, townhouses and condominiums. So where do you go if you are a seller in another price range?
Investors and homebuyers who have time to wait are looking for properties that can be purchased for 15 percent to 20 percent under market value, and they are not looking for "fixer uppers." In fact, the typical buyer in the price range of $400,000 to $900,000 is looking for a property that shows like a model home. And they want all of the furniture, too. This is all negotiated in many sales in today's market.
Stage your home for selling. Here are some tips:
Investors and homebuyers who have time to wait are looking for properties that can be purchased for 15 percent to 20 percent under market value, and they are not looking for "fixer uppers." In fact, the typical buyer in the price range of $400,000 to $900,000 is looking for a property that shows like a model home. And they want all of the furniture, too. This is all negotiated in many sales in today's market.
Stage your home for selling. Here are some tips:
- Exterior appeal from the curb, up the driveway and to the front door should be impeccable.
- Flower beds should be mulched and weeded, plants trimmed and spruced up to lead buyers to the entrance.
- Your front door should sparkle and shine with new, neutral paint, as should the exterior and interior of the property.
- The first thing visitors should see as they enter is a light, airy and bright view of your home. This should capture the heart of the buyer, especially if he or she is from the North where the snow is still falling.
- The carpet should be clean and possibly, just vacuumed. Be prepared to vacuum when you hear a potential buyer is coming for a look.
- The smell of the home should be as fresh as the outdoors, not camouflaged by scented candles or plug- ins.
- Showcase floor space by removing small area rugs. Consider storing some furniture and accessories to keep the look clean.
- Kitchen counters shouldn't be bare, but consider hiding some small appliances, cookbooks, notepaper, pencil boxes and more to create a clean look -- one item per section of counter is a good rule of thumb. Likewise, get rid of dirty dishes and shine up faucets and sinks.
- Bathrooms should be impeccable with shiny showers and tubs and closed toilet lids.
- Owners and pets should exit the property before each showing.
- Back porches and barbecue areas should offer seating and be surrounded by tropical plants offering visitors the image of outdoor entertaining to the fullest. After all, this is the Florida lifestyle.
- Beds should be made, and bedrooms staged like a model home with lamps and nightstands that coordinate in colors that are soothing.
- Utility rooms can show some signs of use but one should be able to view the storage areas and the versatility of the room. The same is true of the garage and closet areas. Just make sure that all are not too cluttered to detract from the use of the room.
Now that your home is staged, it may be necessary for you to camp in the nearest hotel because it is difficult to live this way. Competition is fierce, but buyers are out there in force.
Sunday, January 11, 2009
Brevard numbers show an upswing
Statistically speaking, real estate activity closed out 2008 on an up note.
The change in sold residential listings from November to December of 2008 indicates an increase in volume of 29 percent. From December of 2007 compared to December of 2008, residential sales volume increased by 13 percent.
These are the statistics from the Multiple Listing Service reports in Brevard County.
On all types of properties, the sales volume increased from November to December of 2008 by more than 18 percent.
The increase from December 2007 compared to December 2008 was more than a 6 percent increase in volume of sales.
The overall market comparing each and every month in 2007 to 2008 indicates that sales volume showed a decrease of less than 3 percent. The significant increase in activity came at the end of 2008 indicating positive signs for real estate in Brevard County in 2009.
Bottom line: Consider this an upswing in the market.
Where are the best buys? The average sale price in Brevard County for 2008 is in the $152,000 price range. This price range shows the most activity because there exists an oversupply, and one can purchase in the price range for approximately the same monthly payment as one can rent.
Let's look at the numbers.
A mortgage payment on a $150,000 home would compare favorably to a $1,000 a month lease.
Many buyer assistance programs are available to those who can qualify for the payments.
Please contact a local lender for a list of "down payment assistant programs" available to you.
Payments on 80 percent of the purchase price at 5.25 percent on a 30-year fixed rate mortgage are $663 per month. Adding in an estimated $210 per month for taxes and $150 per month for insurance, one can have a "tax benefit" and enjoy all the rights and privileges of "home ownership" for $1,023 per month. Please note that there are many, many properties available for under $100,000.
Residential homeowners who are looking to downsize in the future should look at buying now and renting out their newly purchased property until such time as their lifestyle indicates the need to downsize and move in to their investment property. Proceed with caution when purchasing property for rental purposes even if just for an interval time period.
One year's payments should be in your savings account along with a reserve for maintenance and repair. This is a protective measure for loss of rent, which could happen, in today's market.
The change in sold residential listings from November to December of 2008 indicates an increase in volume of 29 percent. From December of 2007 compared to December of 2008, residential sales volume increased by 13 percent.
These are the statistics from the Multiple Listing Service reports in Brevard County.
On all types of properties, the sales volume increased from November to December of 2008 by more than 18 percent.
The increase from December 2007 compared to December 2008 was more than a 6 percent increase in volume of sales.
The overall market comparing each and every month in 2007 to 2008 indicates that sales volume showed a decrease of less than 3 percent. The significant increase in activity came at the end of 2008 indicating positive signs for real estate in Brevard County in 2009.
Bottom line: Consider this an upswing in the market.
Where are the best buys? The average sale price in Brevard County for 2008 is in the $152,000 price range. This price range shows the most activity because there exists an oversupply, and one can purchase in the price range for approximately the same monthly payment as one can rent.
Let's look at the numbers.
A mortgage payment on a $150,000 home would compare favorably to a $1,000 a month lease.
Many buyer assistance programs are available to those who can qualify for the payments.
Please contact a local lender for a list of "down payment assistant programs" available to you.
Payments on 80 percent of the purchase price at 5.25 percent on a 30-year fixed rate mortgage are $663 per month. Adding in an estimated $210 per month for taxes and $150 per month for insurance, one can have a "tax benefit" and enjoy all the rights and privileges of "home ownership" for $1,023 per month. Please note that there are many, many properties available for under $100,000.
Residential homeowners who are looking to downsize in the future should look at buying now and renting out their newly purchased property until such time as their lifestyle indicates the need to downsize and move in to their investment property. Proceed with caution when purchasing property for rental purposes even if just for an interval time period.
One year's payments should be in your savings account along with a reserve for maintenance and repair. This is a protective measure for loss of rent, which could happen, in today's market.
Sunday, January 4, 2009
Positive actions key to success.
The book "The Secret" introduces the reader to the great power of "positive actions." This New Year of 2009 is the year for positive actions. We have been beaten down with the negative and it is time to gain strength from the positive. Every positive action receives a positive reaction. A simple smile gets a smile in return. Kind words are responded to with kind words.
Recent reports indicate that "recession survivors" may gain strength as weaker companies die off.
Smart businesses that diversify to withstand the economic challenges will become stronger. Space programs that have been faced with shortfalls in funding exhibit creative ideas to develop alternate programs to enhance their staying power. Slim state budgets offer opportunities for innovative ideas for funding sources. Businesses find their strength in positive attitudes of their employees filtering to exemplary service for survival.
I was speaking with a brilliant family business owner on New Year's Day and her comment was, "our company and this family is not buying into the bad economy concept. We have decided as a company and as a family to speak to the positives." This family has the "secret" and their company will not only survive but will thrive in this economy. Not just by thinking in a positive manner but by doing all of the positive actions to create the positive reactions of their customers to their products and services. And so it will be that the ones who perpetuate the positive will feel less of the effect than the ones that perpetuate the negative.
Brevard County has every reason to be positive. Travelers are snowed in -- literally trapped -- while we enjoy the beautiful calmness of the river, the spectacular sunrises over the ocean and the wildlife in our sanctuaries. How can we possibly experience the negative in this location? Our businesses are not only surviving but gaining in their strength. The word is out and continues to spread.
The great values in homes and condominiums in our sterling location call more buyers to commit to purchase in Brevard County. True, prices continue to drop but the properties continue to sell. The prime properties are moving at a rapid rate. To be more specific, those properties that are bargains in price and tops in location are the fast sellers. More sales each month than the month preceding and we move onward and upward, strengthening in our real estate base. We, Brevard County, are the best kept secret.
Recent reports indicate that "recession survivors" may gain strength as weaker companies die off.
Smart businesses that diversify to withstand the economic challenges will become stronger. Space programs that have been faced with shortfalls in funding exhibit creative ideas to develop alternate programs to enhance their staying power. Slim state budgets offer opportunities for innovative ideas for funding sources. Businesses find their strength in positive attitudes of their employees filtering to exemplary service for survival.
I was speaking with a brilliant family business owner on New Year's Day and her comment was, "our company and this family is not buying into the bad economy concept. We have decided as a company and as a family to speak to the positives." This family has the "secret" and their company will not only survive but will thrive in this economy. Not just by thinking in a positive manner but by doing all of the positive actions to create the positive reactions of their customers to their products and services. And so it will be that the ones who perpetuate the positive will feel less of the effect than the ones that perpetuate the negative.
Brevard County has every reason to be positive. Travelers are snowed in -- literally trapped -- while we enjoy the beautiful calmness of the river, the spectacular sunrises over the ocean and the wildlife in our sanctuaries. How can we possibly experience the negative in this location? Our businesses are not only surviving but gaining in their strength. The word is out and continues to spread.
The great values in homes and condominiums in our sterling location call more buyers to commit to purchase in Brevard County. True, prices continue to drop but the properties continue to sell. The prime properties are moving at a rapid rate. To be more specific, those properties that are bargains in price and tops in location are the fast sellers. More sales each month than the month preceding and we move onward and upward, strengthening in our real estate base. We, Brevard County, are the best kept secret.
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