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Tuesday, 27 December 2011
It's an understandable conundrum: sellers believe their home is worth more than it is, and buyers think that it's worth less. So where is the proverbial "sweet spot" when it comes to the single most important aspect of marketing your home - setting its listing price?
Consider how many homes are for sale in your area. Is that number high? Then your listing price should be lower than the competition if you want to generate the most interest. Obvious, right?
But how many of those rival listings are foreclosed properties or short sale listings? The most critical factor in evaluating this type of competition is the condition in which they are offered. Neglected homes aren't likely to affect you, but if they are in good shape and presented at prices 20% below market, you've got some hard thinking to do.
If buyers aren't making appointments or are not making you offers after the showings, you probably priced too high at the start. Don't hesitate to make an adjustment quickly, however, because properties generate the most interest in the earliest stage of the listing.
Finally, give the reasonable offers you receive strong consideration. You may counter, but these days, buyers won't engage in extended negotiations - they'll just move on to the next property. You can avoid these bitter pills by practicing a little preventative medicine through competitive pricing right from the beginning.
If you know somebody who is having trouble making their house payment, have them call the Kathy Henne Team. Kathy has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed training in foreclosure avoidance and short sales. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Tuesday, 20 December 2011
Even with recent gains in the market, the concept of homeownership is still under attack. Owners feel let down by falling values, critics say the American Dream has become a nightmare, and others say renting is the best option now. There is no doubt that many have suffered at the hands of bad lending practices and economic turmoil associated with the recession.
However... owning a home has always been a huge part of the American Dream, and will continue to be so long after the current economic crisis and wave of defaults has passed. Our homes are a place of security for our families and for establishing traditions with our friends.
No one can argue against the benefits that homeownership provides to our communities and to society in general. Homeowners have a higher level of self-esteem, education, and involvement in civic activities. Why try to tear down these fundamental truths simply because we are in a downward part of the always dynamic cycle of real estate?
The time has come to reaffirm the dream of homeownership, but in a more sober and accountable fashion. We should emphasize responsible ownership for the long term, which helps us and our communities achieve the common goals of financial and social well-being. Today's nay sayers will change their tune when the cycle rises again, and you can count on that. There has never been a better time to be a home buyer! Great inventory and incredible interest rates won't last forever. Today's home buyers are making investments in their and their families' futures. Call your Realtor today so you don't miss out on this opportunity!
If you know somebody who is having trouble making their house payment, have them call the Kathy Henne Team. Kathy has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed training in foreclosure avoidance and short sales. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Tuesday, 13 December 2011
When listing your home, you may need to move before a sale takes place. If you vacate the home, it's very important that you notify your insurance company, because many homeowner policies have a "vacancy clause" that goes into effect once the home is unoccupied, usually for more than 30 to 60 days.
Insurers see different risks in vacant homes, like vandalism, systems failures, or other liabilities, In most cases, you'll simply purchase an endorsement to your existing policy, but different insurers have different options, and if an endorsement is not available, you can get a separate "vacant home" policy.
It may be an additional cost, but it's called "insurance" for a reason, and could save you a lot of money down the road. If you don't notify your insurance agent about vacating your home, they could reject any claims you file for property damage or liability, or even accuse you of insurance fraud.
It may be tempting to just hope that your home will sell within 30 to 60 days after you have to move out, but it's critical to speak with your insurance agent before you move to discuss your options. They can pro-rate and refund part of your premium if you sell before the end of the policy's term. It's a small price to pay to protect your home and your peace of mind.
Tuesday, 06 December 2011
Before you begin what should be the fun process of buying a home, consider a couple finer points to help save you money, both up front and down the road. One issue relates to your credit score and its impact on your financing, and the other relates to the condition of your home and the cost of repairs.
First, know your credit score in advance of house hunting, and take immediate steps to improve it if it's less than stellar. During your loan application is not the time to find any surprises.
Correct any errors on your credit report, pay down some revolving debt, and don't make any other major purchases - like buying a car or truck - until your loan paperwork is complete and you've already closed on your home. This is important because borrowers with lower scores pay higher fees and interest rates, which can total tens of thousands of dollars over the life of the loan.
Once you're in the position of having made an offer to purchase, do not skimp on the inspections. No matter how strapped for cash you think you are, the cost of inspections is a drop in the bucket compared to what unexpected plumbing, electrical, and structural repairs will cost you in the future. Your agent will go over a list of available inspections and advise you about the ones most appropriate for the home you are purchasing. It's also a good idea to make sure you have a home warranty to cover repairs of mechanical systems that are not a problem during the inspections, but come along after you've moved into your home. The home warranty is like a safety net to cover your home during your first year of home ownership.
Friday, 02 December 2011
Recent Piqua real estate sales
The local Multiple Listing Service lists these Piqua area homes as sold with real estate agents.
911 Boal, Piqua, original list price $56,900, list price at sale $34,900, sale price $34,900, 528 days on market
8 Hopewood, Piqua, original list price $209,500, list price at sale $159,900, sale price $151,000, 159 days on market
623 Cottage, Piqua, original list price $59,900, list price at sale $49,900, sale price 47,000, 48 days on market
1406 Severs, Piqua, list price $63,900, sale price $61,900, 111 days on market
1013 New Haven, Piqua, original list price $80,000, list price at sale $74,900, sale price $74,000, 318 days on market
15 Osprey, Piqua, list price $146,500, sale price $139,389, 235 days on market
521 Vine, Piqua, original list price $65,000, list price at sale $37,000, sale price $37,000, 83 days on market
1107 Park, Piqua, list price $24,000, sale price $24,033, 31 days on market
102 Sharon, Piqua, list price $124,900, sale price $124,900, 40 days on market
1133 Broadway, Piqua, original list price $ 43,995, list price at sale $37,900, sale price $35,000, 36 days on market
8560 Moffett, Piqua, original list price $119,900, list price at sale $114,900, sale price $104,405, 140 days on market
929 Caldwell, Piqua, original list price $55,000, list price at sale $47,500, sale price $41,000, 143 days on market
824 Broadway, Piqua, list price $83,900, sale price $79,000, 110 days on market
354 E Main, Piqua, list price $55,000, sale price $35,905, 37 days on market
910 Boal, Piqua, list price $50,000, sale price $49,500, 12 days on market
Keep in mind that the seller may have paid for the buyer's closing costs which reflect in the sales price. For more information on these Piqua homes or any homes in Miami or Shelby counties, please contact Kathy Henne at 937-778-3961 or Kathy@KathyHenneTeam.com
Friday, 02 December 2011
Real Estate for sale in Piqua area
Homes for sale in Piqua, Ohio
1017 Laura, Piqua, 2 bed, 2 bath, $125,000
922 Young, Piqua, 2 bed, 1 bath $77,500
413 Bear Run, Piqua 3 bed, 2 bath, $127,500
2112 Wilshire, Piqua, 3 bed 2 bath, $125,000
6060 Washington, Piqua, 3 bed, 1 bath, $35,000
1820 Britton, Piqua, 4 bed, 2 bath, $125,000
For more information on these homes or any homes in Miami or Shelby counties, please contact Kathy Henne at 937-778-3961 or Kathy@KathyHenneTeam.com
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