By: Dennis Norman
Terry Peterson, Brokerage Manager, M.O.R.E.
We’ll pick up where we left off in part one of this series with our E-View TM with Terry Peterson, the brokerage manager of Missouri Online Real Estate (M.O.R.E.) about selling a home in this market:
Q-How should a seller select an agent? What should they look for in an agent and what should a seller avoid?
>A- Years of experience is not as important as it once was. Certainly, the seller needs an agent with market knowledge, but the fact is today’s market is new territory for all REALTORS(R). I believe a seller in today’s market needs to be certain their REALTOR(R) has a firm grasp of marketing a property to today’s buyer, which according to research by the National Association of REALTORS(R), is looking to the Internet for their next home. Read more…
By: Dennis Norman
Terry Peterson, Brokerage Manager, M.O.R.E.
If you are a homeowner looking to sell your home today I don’t think I need to tell you it could be a challenge. In an effort to address some of the questions you may have about selling your home now as well as provide some useful tips and information I did an E-View TM with Terry Peterson, the brokerage manager of Missouri Online Real Estate (M.O.R.E.), an innovative brokerage in St. Louis, Missouri that utilizes the technology and the Internet extensively in its brokerage.
Q-Terry, once a homeowner has decided to sell their home, the first thing they are usually faced with is whether to try going it alone and doing it themselves (FSBO) or listing it with a real estate agent. Considering the profession you are in I’m going to assume your recommendation would be that sellers should list with an agent; why? Read more…
By: Dennis Norman
This morning the U.S. Department of Commerce released a report showing the sale of New Homes in January was down 10.2% from December and down over 48% from a year ago.
Prices on new homes continue to drop as well. The median price for January was $201,100, down 2.6% from Decembers Read more…
By: Dennis Norman
This morning the U.S. Department of Commerce released a report showing the sale of New Homes in January was down 10.2% from December and down over 48% from a year ago.
There is some good news in this report…consistent with the last few months, the number of new homes available for sale Read more…
By: Dennis Norman
Yesterday Standard & Poor’s released its S&P/Case-Shiller report for 2008 which shows record price declines for the year.
The S&P/Case-Shiller report shows that nationally home prices dropped 18.2% in the 4th quarter of 2008 versus the 4th quarter of 2007 which represents the largest drop in the 21 year history of the report.
The report gos on to state that “as of December 2008, average home prices Read more…
By: Dennis Norman
Last week the U.S. Census Bureau released new home data for January. Once again, permits and housing starts were down.
Building permits for January were at a seasonally adjusted rate of 521,000, 4.8% below December and over 50% below a year ago. Housing starts were at a seasonally adjusted rate of 466,000, 16.8% below December and 56.2% below a year ago. Read more…
By: Dennis Norman
It appears that later today the US House of Representatives and the US Senate will both give approval to an Economic Stimulus Package that, in my opinion, has the housing market coming up short. It is also expected that President Obama will sign the bill into law no later than Monday.
As would be expected, there was a lot of negotiating and “horse-trading” by elected officials to arrive at a compromise. The bill summary, which took 19 pages to print, does have many good things in it that will benefit taxpayers, small business and the economy, but not enough to really help the housing market in my opinion.
For complete details please see my post at RealEstateConsumerNews.Com.
By: Dennis Norman
It appears that later today the US House of Representatives and the US Senate will both give approval to an Economic Stimulus Package that, in my opinion, has the housing market coming up short. It is also expected that President Obama will sign the bill into law no later than Monday.
I know many investors out there were hoping for a stimulus package that would provide some serious incentives to buyers to try to “jump-start” this tortous market we are in. Unfortunately I don’t think the economic stimulus package that is expected to be approved today is not going to do this. Read more…
By: Dennis Norman
It appears that later today the US House of Representatives and the US Senate will both give approval to an Economic Stimulus Package that, in my opinion, has the housing market coming up short. It is also expected that President Obama will sign the bill into law no later than Monday.
The housing market will see some benefit from what is expected to pass…just not as much benefit and it needs to make a difference. Here is what is expected to be in the stimulus package for the housing market: Read more…
By: Dennis Norman
Beginning March 1, 2009, new rules will go in effect by Fannie Mae changing the limitation on the number of mortgages an investor may have and still be eligible for Fannie Mae financing from four to up to ten.
In these very challenging times and, with banks clamping down, this is welcome news for investors! In connection with this change there are also changes being made to the qualifications and guidelines for multiple Read more…
