Selling on your own? Get ready to negotiate!

Now that the market has shown signs of recovery, some sellers may be tempted to try and sell their home on their own (FSBO) without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation. In most cases, the seller is not. The seller must realize their ability to negotiate will determine whether they can get the best deal for themselves and their family. Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house.
• The termite company if there are challenges
• The buyer’s lender if the structure of the mortgage requires the sellers’ participation
• The appraiser if there is a question of value
• The title company if there are challenges with certificates of occupancy (CO) or other permits
• The town or municipality if you need to get the COs permits mentioned above
• The buyer’s buyer in case there are challenges on the house your buyer is selling
• Your bank in the case of a short sale

Bottom Line

The percentage of sellers who have hired a real estate agent to sell their home has increased steadily over the last 20 years. Meet with me today to see the difference I can make in easing the process.

Building Family Wealth Over the Next 5 Years - Real Estate

As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate.

For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road?

Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them to project how residential prices will appreciate over the next five years. According to their latest survey, here is how much value that $250,000 house will gain in the coming years.

Over a five year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.

Bottom Line

If you are looking to better your family’s long-term financial situation, buying your dream home might be a great option.

The Difference your Interest Rate Makes

Some Highlights:

• Interest rates have come a long way in the last 30 years.
• The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford.
• Experts predict that rates will increase by 3/4 a percent over the next 12 months.
• Secure a low rate now to get the most house for your money.

How to Get the Most Money from the Sale of Your House

Every homeowner wants to make sure they maximize the financial reward when selling their home. But, how do you guarantee that you receive maximum value for your house? Here are two keys to insuring you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house. (see chart)

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price but instead will have multiple buyers fighting with each other over the house.

In a recent article on realtor.com, they gave this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This too may seem counterintuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. Yet, studies have shown that typically homes sell for more money when handled by a real estate professional.

Recent research posted by the Economists’ Outlook Blog revealed:

“The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.”

Bottom Line

Price it at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house.

Metro Baton Rouge home sales jump in September

http://theadvocate.com/news/13896036-123/metro-baton-rouge-home-sales

The number of houses sold in metro Baton Rouge rose 15.4 percent in September from a year ago, thanks to a big boost in activity in East Baton Rouge Parish.

There were 883 homes sold in September in the nine-parish area, according to figures released Thursday by the Greater Baton Rouge Association of Realtors’ Multiple Listing Service. That compares with 765 MLS sales in September 2014. This was the fourth month in a row sales have gone up year-to-year.

East Baton Rouge Parish, which makes up the largest share of MLS sales, had the biggest gain in closings. There were 473 homes sold in the parish during September, a 24.1 percent increase over the 381 MLS sales in September 2014.

Wynona Squires, broker/owner of Re/Max First in Baton Rouge, said indications that the Federal Reserve may raise interest rates in the near future “has put some urgency” on first-time homebuyers in the market.

“We’ve been very busy through the summer,” said Squires, a member of the Greater Baton Rouge Association of Realtors’ board of directors. “A lot of my agents have numbers that are larger than what they were last year.”

According to MLS figures provided by Squires, much of the increased sales activity was in the starter-home market. There were 99 homes sold in East Baton Rouge Parish in September in the $150,000 to $199,999 range. That was a 48 percent increase over the 67 sales in September 2014 in the same price bracket. More expensive homes were also moving, with the number of home sales in the $300,000 to $349,999 range increasing by 68 percent to 32. The number of sales in the $600,000 to $699,999 range went from two in September 2014 to seven a year later.

Livingston Parish had an 18.3 percent increase in sales during September, jumping from 153 MLS sales in 2014 to 181 sales.

Ascension Parish, which has been hampered by a lack of inventory, had a 6.5 percent increase in MLS sales. There were 163 sales in September, compared with 153 a year earlier.

The median home sales price in the area rose by 6.1 percent in September to $188,000 from $177,250 — meaning half the houses sold for more and half for less than that price.

The number of pending sales in metro Baton Rouge, a sign of future activity, decreased by 3.3 percent from 800 to 774.

The number of homes for sale dropped by 11.2 percent from 4,183 in September 2014 to 3,713. New listings were up by 15.8 percent to 1,077 in September, compared with 930 a year earlier.

Although the local housing market has performed well this year, with rising prices and increased sales activity, a lack of housing inventory has put a damper on the market.

The supply in months was 4.6, based on the current rate of sales, compared with 5.5 months in September 2014. Six months is considered an ample supply.

The number of days a house stayed on the market dropped from 83 to 67 in metro Baton Rouge.

Through the first nine months of 2015, there were 7,537 home sales in the metro area, compared with 6,915 through September 2014, a 9 percent increase.

Gorgeous New Listing! Custom Built Home in Green Trails. Built 2013.

CALL OR TEXT CHRISTIE FARRIS AT 225-315-9003 FOR MORE DETAILS OR TO SCHEDULE A SHOWING. Gorgeous 2 year old custom built home features an open floor plan, high ceilings, beautiful hand scraped wood flooring, gas fireplace, and beautiful cypress cabinetry throughout. Tons of windows create lots of natural light through out. Spacious and open gourmet kitchen with a huge island, 3 cm granite countertops, stainless steel appliances, gas stove, the convenient pot-fill, large ceramic tile flooring, and sitting/breakfast area. Large master suite. Master bathroom features his and her separate vanities, large whirlpool tub, tall custom shower, huge amount of closet space, and ceramic tile flooring. Every bathroom in the home has granite countertops. The fourth bedroom located on the other side of the home could be used as a mother in law suite. Down the hallway is a computer nook perfect for office or school work. Two car garage with extra storage space. The covered back porch is equipped with a top of the line outdoor kitchen perfect for entertaining. Tree lined back yard bordered by a tall wood privacy fence. Don't miss out on this great new listing. Home built 2013. 

http://www.zillow.com/homedetails/15739-Parkside-Ct-Baton-Rouge-LA-70817/119321468_zpid/

What you Need to Know About the Mortgage Process