|
|
-
During the heated market of the last several years homes sold very quickly. Today in May 2008, my area has at least a 10-11 month inventory of homes. Almost every day for the last 7 months about 3 times more homes have been listed for sale than closed (sold). Today was no different. Far more homes came on the market than closed or went pending.
It makes me wonder - WHY are so many people trying to sell their homes at the same time? Don't they know the news? Don't they know anything about or have even rudimentary knowledge about SUPPLY and DEMAND.
However, the daily statistic that I believe holds the key to why this market is slow is the Back on the Market list. On most days the number of homes that were returned to the market from the Pending or Under Contract category outnumbered the ones closed (sold). Why are so many deals falling through? Could it be because FINANCING has become so hard to get?
YES. The banks that were over exposed to the subprime risk or perceive they have too much risk, have stopped making loans. Their offices are open. Their loan agents are at their desks. Their processors and underwriters are on duty. BUT, somehow, no matter how much documentation, paperwork, proofs, tax returns, W-2's, 1099's, statements, verifications of deposit, etc. are provided, there is always one more thing they need. Of course the contract expires before the loan is approved.
By not lending very much money, even to excellent credit risks, the banks are building up reserves to balance out projected losses and writeoffs. But, how can they earn income without lending? A bank's income comes from the difference between money in and money out. They borrow from depositors at a low rate of interest and lend to borrowers at a higher rate of interest. When they need some extra they borrow from the Federal Reserve (which creates money out of thin air by accounting entries, but that's another whole story). By not lending they will grow reserves at the expense of income.
There are plenty of buyers in the market. There are plenty of underpriced and fairly priced homes. There just aren't enough serious lenders at the moment. Homes will start selling again as soon as financing is readily available for buyers who have down payment money and good to excellent credit.
This a a good time for "Private Lenders" to enter the single-family home financing market.
|
-
|
When you are a seller in a slow market, you should use every tool at your disposal to influence buyers to look at and purchase your home. Buyers can be stimulated by money that is handled outside the asking price.
For example, the price of your home might be acceptable to a buyer, but he or she doesn't have enough money on hand for the down payment required by a lender. You can assist with the down payment in the form of cash at closing.
Another way you can help someone buy your home is to reduce their monthly mortgage payment. By paying points on the buyer's loan you lower their interest rate which reduces the payment amount. Each point on a loan equals 1% of the borrowed amount and can make enough of a difference to get a buyer qualified.
Many buyers have fear of unexpected expenses that occur soon after moving in. To lower their fear you can buy them a Home Owners Warranty (HOW) that provides 12 or 13 months of coverage for appliances, plumbing, air conditioning and heating, and electrical fixtures.
A buyer might be influenced by your offer to pay for 12 months of yard maintenance, pool service, or Homeowner Association (HOA) or Condo Association dues. You can also pay for all or part of the current or next years property taxes or insurance costs.
A purchaser who is short on cash could be stimulated to pay full or almost full price for your home if you paid all or part of their closing costs. They include closing agent (attorney or title company) fees, deed recording fees, mortgage title insurance, and other fees connected to the financing and closing of the purchase. Closing costs can vary widely, but are usually between 2% and 7% of the amount financed or the entire sale price. In FHA and VA mortgages the seller has to pay certain costs anyway.
If you are moving into a smaller home or relocating a long distance away and don't want to take all of your furniture, appliances, or fixtures you can offer them to a buyer. Sometimes that is precisely what it takes to make a sale.
In conclusion, it isn't only the asking price that makes a buyer choose a particular home. You can make your home more competitive and attractive with one or more buyer incentives.
|
-
Are the media freezing you into inactivity with their negative housing market stories? Contrary to media articles, it is a great time to buy.
Today's housing market has numerous choices in all price ranges. Inventory is high and Interest rates are low: about 6.25 percent -6.33 percent for 30-year fixed rate and 5.90 percent – 5.99 percent for 15 year fixed rate loans.
Some new home builders are offering great incentives. In fact, I know a leading builder who can put qualified buyers in a brand new home in Gainesville for a zero down payment. This builder will also pay all the closing costs!
With mortgage rates close to all time lows and you needing little cash to buy, it is the perfect time to buy your Brand New Dream Home in Gainesville!
Contact Me Now for more information about this exciting offer. 352-373-3783.
|
-
Do you want to SELL your home (or land or other type of property) OR do you just want to LIST? If you don't really have to sell now, perhaps you shouldn't be in this type of market.
Buyers are reluctant to commit themselves because they think prices will go lower. Financing has tightened and standards are higher disqualifying marginal buyers. There is a glut of homes for sale. The market is flooded with homes in many areas. Foreclosures are increasing which drives prices down because sellers and lenders HAVE TO SELL quickly.
Overpriced listings have to compete with much lower asking prices on similar properties. How can you attract potential buyers if there are numerous comparable homes for sale with considerably lower asking prices? You won't even get offers. Very few buyers will even look at yours and if they look they will go back to the other one with the much lower price and LOWBALL that one. You won't even get the opportunity to get the lowball offer and an opportunity to negotiate. Yes, that's what's happening now. You need a low asking price to get a lowball offer.
So, if you just want to list, your home will just take up space in the MLS and on the internet. If you want to SELL, put a fair asking price on your home, give some incentives to buyers, and be prepared to go even lower when negotiating an offer. Be aggressively motivated, be realistic, and your home WILL SELL.
Contact me for a Free Consultation. 352-373-3783.
|
-
Building-Land-Business
• 6,236 sq. ft., 2 bath commercial "Beautiful Building." -  MLS® #279054 $2,750,000 - Entire Business-Property Butler Plaza, Gainesville - Open your own restaurant-lounge in highly desirable location - Restaurant Row near Univ. of Florida. Open now and Operating Profitably for 11 years. Set up for Japanese but can be changed to any format. Seats 150 in 3 big dining rooms, tables and booths, large kitchen, great for catering and private parties. Furniture, equipment, liquor license included. There is much space for additional seating and expanding the building.
Building - Land - Business. VALUABLE LOCATION.
Property information
|
-
Near Approved New Airport Entrance.
• 930,400 sq. ft. commercial "Zoned MP (Multi-Purpose)" - MLS® #269951 $525,000 - Great Location. Airport Area, Gainesville - Great location for industrial land.
21.36 acres of multi-purpose or light industrial land near approved new entrance to Gainesville Regional Airport. Mostly level. Front has wetland, back is high and dry. 763' frontage on 4 lane divided SR 24 (Waldo Road). Across the road from the airport. Location for Hotel, Motel, Warehouse, Factory, Office, Commercial Project. Property information
|
-
Retail Strip Center Location.
• lot / land "Only Commercial Land in Neighborhood." - EXPIRED $495,000 - Commercial Land Airport Area, Gainesville - 4.23 acres of Commercial Zoned Land just east of Gainesville Regional Airport. Across the street from the Florida Dept. of Transportation Office and Materials Research Center. Florida Division of Forestry Regional Office will be under construction across the street soon. Many research and office workers within walking distance.
475 site mobile home park with approx. 700 residents is behind this land.
There are no other commercial parcels in the area.
Consists of two adjacent parcels, same zoning, both in City of Gainesville limits. Property information
|
-
-
|
We Speak English and Chinese.
|
-
Near Approved New Airport Entrance. • 930,400 sq. ft. commercial "Zoned MP (Multi-Purpose)" - MLS® #269951 $525,000 - Great Location. Airport Area, Gainesville - Great location for industrial land.
21.36 acres of multi-purpose or light industrial land near approved new entrance to Gainesville Regional Airport. Mostly level. Front has wetland, back is high and dry. 763' frontage on 4 lane divided SR 24 (Waldo Road). Across the road from the airport. Location for Hotel, Motel, Warehouse, Factory, Office, Commercial Project. Property information
|
-
Building & Land For Sale.
• 2,898 sq. ft., 3 bath single story "Converted Triplex" - MLS® #268644 $199,000 - Commercial Income. Cedar Ridge, Gainesville - Triplex converted to a Children's Daycare Center - School. Property has had a Special Use Permit for school zoning since 1997. Building and Land for sale only. Daycare Business leases premises from seller for $1,300 per month and has been operating for 4 years. Tenant will sign a long term lease. Located in the center of a residential rental community with many apartment buldings. Property information
|
-
Seller Finance: 70K down-8%-10yr balloon
• lot / land "HIGH & DRY Acreage." - MLS® #276551 $290,000 - Very Best Deal in Area. Keystone Heights, Clay County - PRICE REDUCED. Seller Finance: 70K down, 8%, 10 yr. balloon. Perfect for Ranchette or Farm or 4 homesites (site built or mobile OK). Horses OK. Lake Region has over 100 lakes of all sizes and is a commuter and retirement area.
Commute to Gainesville and the University of Florida (23 miles). Convenient to Jacksonville (40 miles), Palatka and the St.Johns River (20 miles), and Ocala (40 miles).
Shopping and schools in Keystone Heights (6 miles).
West side of parcel borders unpaved Scenic Trail. High and Dry. Level with small trees. Access road has soft sand.
Best per acre price in area. Reduced from $320,000 to $290,000.
Property information
|
-
I will send Buyer and Seller Referrals for all kinds of real estate to qualified licensed Agents and Brokers located ANYWHERE in Florida (Statewide), the United States (National), and Worldwide (International).
I will receive (accept) Buyer and Seller Referrals for all kinds of real estate from qualified licensed Agents and Brokers located ANYWHERE who have a serious, motivated, qualified Buyer or have a serious, motivated Seller interested in the Gainesville, Florida - North Central Florida area. My local service area includes a radius of about 40 miles around Gainesville in the counties of Alachua, Bradford, Clay, Columbia, Dixie, Gilchrist, Levy, Marion, Putnam, and Union.
Referral Fee Schedule:
1. 25% - 30% of my side of the commission for Buyers and Sellers of Residential Property (Home, House, Condominium, Condo, Townhome, Townhouse, Mansion, Estate, Small Farm and Ranch, or Mobile Home).
2. 20% - 30% of my side of the commission for Buyers and Sellers of Commercial Property (Building and/or Land), Land (Lot or Acreage), Business, Franchise, large Farm, or large Ranch.
3. 10% - 20% of my side of the commission for Leasees (Renters) and Leasors (Landlords) of Residential or Commercial Property.
The actual percentage is negotiable and depends on the type of property and sale price. Referral fee shall be paid at closing.
Contact Me to exchange referral information. All referrals must be in writing, include customer contact information, agent and broker contact information and license number, and be signed and dated by all agents and brokers involved. I have an all inclusive referral form I can send interested persons.
Mark Cohen
Broker
Eyemark Realty, Inc.
Gainesville, Florida, USA
352-373-3783 Office Phone and Fax
352-222-5609 Cell
eyemark@bellsouth.net
mark@eyemarkrealty.com
|
|
-
On May 21, 2007 the closing for the Weatherly home took place. The buyer moved in immediately. Hire me to sell your home. The last 2 homes I sold, I represented both the sellers and buyers as a Transaction Broker. The sellers hired me to market their homes and I was able to find buyers through my websites and a yard sign. Both high tech (websites) and low tech (yard signs) are excellent ways to advertise home listings.
|
-
Appraised $259,000, Will sell for less
• 1,825 sq. ft., 3 bath, 4 bdrm single story "Efficient Floor Plan." - MLS® #266462 $255,000 - Below New Appraisal. Weatherly, Gainesville - Will sell below new appraisal of $259,000. Convenient to Santa Fe Community College, Oaks Mall, and University of Florida. Walk to "A" Rated Elementary and Middle Schools. Excellent condition. Beautiful home. Great Location. Many extra features and nice floor plan. Property information
|
|
|
|