We have sold foreclosed property for over 10 year. Investors and those who plan to occupy the property have been out clients. We can provide solid advice on the entire process.
Call, text or email us any time - (314) 484-7467, Dan@GetTeamHaynes.com.
Jan 10, 2014
Foreclosures - Good or Bad Idea?
Everywhere you look, people are talking about saving money by purchasing a foreclosure. Is this really a good idea or a money pit? We explain some of the risks and rewards.
We have sold foreclosed property for over 10 year. Investors and those who plan to occupy the property have been out clients. We can provide solid advice on the entire process.
Call, text or email us any time - (314) 484-7467, Dan@GetTeamHaynes.com.
We have sold foreclosed property for over 10 year. Investors and those who plan to occupy the property have been out clients. We can provide solid advice on the entire process.
Call, text or email us any time - (314) 484-7467, Dan@GetTeamHaynes.com.
Jan 8, 2014
When is the best time to sell your home?
One of the most common home owner questions is, when is the best time to sell. The answer isn't quite as straightforward as you might think. We give you a few things to think about in this video.
We would be glad to provide guidance on your specific situation. Call, text or email us any time - (314) 484-7467, Dan@GetTeamHaynes.com.
We would be glad to provide guidance on your specific situation. Call, text or email us any time - (314) 484-7467, Dan@GetTeamHaynes.com.
Jun 21, 2012
10 Home Improvement Myths
Recently, I found an article on Trulia that, on the surface, seemed like a straightforward fluff piece. When I read the article, I found there is some value in the authors comments. While I don't agree with everything as written, it's still very informative.
The one point that I think may have been lost in the article is value versus sale-ability. I cannot count the number of times a homeowner has said to me "We added ______, so that increased the value of our home by $$$." While this statement is sometimes true, more often it is incorrect.
How could that be? You have invested money into your home, so that should surely add to the value. 2 + 2 = 4, right? Not always. The two forces at work are the perceived standard and saleability. Understanding those two forces is critical BEFORE you invest money in your home.
Perceived Standard
When you drive into a neighborhood to view a home, you automatically have expectations of what you will or will not see. In a middle class neighborhood, you don't expect to find the same features as an upper class or lower class neighborhood. You automatically know from personal experiences that there are differences and you at least have an idea of what those differences may be.
If your home is lacking features or the quality of features that potential buyers expect in your area, then spending money to meet that level of expectation does not add value to your home. You are simply meeting the perceived standard of the area. Unfortunately, if you do not make those improvements, the value of your home is likely less than the average because of the deficiency.
Saleability
Another force in home selling that works in tandem with price and features is saleability. Quite simply this is the desire created by your home for potential buyers. If you add features or make changes, you invariably affect the saleability of your home. Whether or not that affect is positive or negative is the question.
One example that frequently comes up is a pool. Should you add a pool or not? What will happen when you sell the home? In the case of a pool, saleability is affected both negatively and positively.
By adding the pool, you have immediately removed a large portion of potential buyers who dislike or are inexperienced with pools. Unless the pool can be removed and the impact of the removal repaired, those buyers will walk away.
The flip side of the coin is for buyers who want a pool or who have wished for a pool, you have increased their desire in your home. They money they would have spent to install a pool is no longer relevant.
Conclusion
While a pool is an extreme example, the same theory holds true for every other potential change you can make to your home. Be selective and smart about making changes and you can come out ahead rather than disappointed.
Your best course of action is to consult with us before spending the money. We can guide you to make the best decisions before they can potentially harm you. Regardless of if you are selling your home now or ten years from now, why wouldn't you call us to make certain that you are realizing the most return for your investment?
Now on to the article from Trulia!
Warmest regards,
Dan
The one point that I think may have been lost in the article is value versus sale-ability. I cannot count the number of times a homeowner has said to me "We added ______, so that increased the value of our home by $$$." While this statement is sometimes true, more often it is incorrect.
How could that be? You have invested money into your home, so that should surely add to the value. 2 + 2 = 4, right? Not always. The two forces at work are the perceived standard and saleability. Understanding those two forces is critical BEFORE you invest money in your home.
Perceived Standard
When you drive into a neighborhood to view a home, you automatically have expectations of what you will or will not see. In a middle class neighborhood, you don't expect to find the same features as an upper class or lower class neighborhood. You automatically know from personal experiences that there are differences and you at least have an idea of what those differences may be.
If your home is lacking features or the quality of features that potential buyers expect in your area, then spending money to meet that level of expectation does not add value to your home. You are simply meeting the perceived standard of the area. Unfortunately, if you do not make those improvements, the value of your home is likely less than the average because of the deficiency.
Saleability
Another force in home selling that works in tandem with price and features is saleability. Quite simply this is the desire created by your home for potential buyers. If you add features or make changes, you invariably affect the saleability of your home. Whether or not that affect is positive or negative is the question.
One example that frequently comes up is a pool. Should you add a pool or not? What will happen when you sell the home? In the case of a pool, saleability is affected both negatively and positively.
By adding the pool, you have immediately removed a large portion of potential buyers who dislike or are inexperienced with pools. Unless the pool can be removed and the impact of the removal repaired, those buyers will walk away.
The flip side of the coin is for buyers who want a pool or who have wished for a pool, you have increased their desire in your home. They money they would have spent to install a pool is no longer relevant.
Conclusion
While a pool is an extreme example, the same theory holds true for every other potential change you can make to your home. Be selective and smart about making changes and you can come out ahead rather than disappointed.
Your best course of action is to consult with us before spending the money. We can guide you to make the best decisions before they can potentially harm you. Regardless of if you are selling your home now or ten years from now, why wouldn't you call us to make certain that you are realizing the most return for your investment?
Now on to the article from Trulia!
Warmest regards,
Dan
Mar 27, 2012
2012 Home Sales Projected the Highest in 5 Years
The National Association of Realtors has issued a news release projecting the home sales for 2012 based on January and February sale contracts. This information seems to support my previous post which covers significant inventory reductions.
The release predicts a national home sales increase of 7 to 10 percent for 2012. This is eclipsed by the projected 19.0% increase for the Midwest. Those are huge numbers, especially for out part of the country.
What does this mean for you as a home seller? It means there is a wave of buyers hitting the market and the wave has already started. While I expect that it will be some time before we see any significant increase in home values, a more competitive buying market will help to stabilize prices. It will also help to reduce the time it takes to sell your home. If you are in the market to sell, we need to talk now in order to have the property properly prepared and on the market for the bulk of this surge.
Read the NAR new release here: http://www.realtor.org/press_room/news_releases/2012/03/phs_feb
Warmest regards,
Dan
(314) 484-7467
The release predicts a national home sales increase of 7 to 10 percent for 2012. This is eclipsed by the projected 19.0% increase for the Midwest. Those are huge numbers, especially for out part of the country.
What does this mean for you as a home seller? It means there is a wave of buyers hitting the market and the wave has already started. While I expect that it will be some time before we see any significant increase in home values, a more competitive buying market will help to stabilize prices. It will also help to reduce the time it takes to sell your home. If you are in the market to sell, we need to talk now in order to have the property properly prepared and on the market for the bulk of this surge.
Read the NAR new release here: http://www.realtor.org/press_room/news_releases/2012/03/phs_feb
Warmest regards,
Dan
(314) 484-7467
Mar 21, 2012
Good News for the Housing Market
I am frequently asked, as you might imagine, how the housing market is doing. Usually, that is followed up with where do I think the market is headed. Today I am going to focus on the second question and look into the future.
Generally, I have been more bearish on the market than the media, the government and the National Association of Realtors. While it may not help my immediate business, it's my job to offer my honest opinion. In fact, recently, I told a client that I thought the St Louis metro market was as much as a year from seeing real improvement in home values as I felt like we were just reaching the bottom of the downward trend. Maybe I was wrong.
When we read or hear stories, they are often based on opinion or spin. The stories I have read lately, the ones I believe anyway, are based on statistics and laid out as honestly and simply as possible. One of those stories lays out basic statistics and illustrates some good news. The stats can be found here at the Department of Numbers website: http://www.deptofnumbers.com/asking-prices/missouri/st-louis/.
There are two very good indicators of the health of the real estate market, inventory and prices. Where are they currently and how are they trending. Finally, we are seeing improvement in inventories and a more moderate improvement in sale prices. This indicates to me that the bottom of the curve may be fast approaching, maybe as much as 12 months ahead of where I expected.
If you check out the link to the Department of Numbers link above, you will see that single family and condo listing inventories are at a 4 year low. In fact, the year over year inventories are 10.9% lower as of March 19, 2012. Remember, lower inventories means buyers have fewer options and they are more willing to pay asking price or even a premium for what they want. This is especially true as the spring season hits it's stride and the buyer pool increases. We will begin to see properties snatched up more quickly than in recent history. As a seller, are you in a position to take advantage of this trend?
Let's move to sale prices. If you again refer to the Department of Numbers link, you will see that sale prices are still dropping on a year over year basis. You might wonder how I can see that as a good sign. The sign I like is not the current but the trend. The price drops are slowing and have been slowing for some months. Now that we recognize this early, it allows you to be in the drivers seat when making your next home purchase. Are you in a position to buy now before prices even out in order to find the best deal?
The four focus items you should take away from my comments are:
- Interest rates are at all time lows and possibly poised to go higher,
especially if inflation kicks in.
- Inventories are at a 4 year low.
- Sale price drops are slowing.
- Financing is loosening for buyers.
If you are considering buying, let's talk about whether it makes sense for you to jump in now or risk being behind the curve as prices start to rise.
If you are considering selling, let's talk about how to position your home to sell quickly, especially if you have been on the sidelines afraid that buyers were going to beat you up on price. Is now the balance between a decent sale price and leveraging a low buying price on your next home?
Call me and let's talk!
Warmest regards,
Dan
Generally, I have been more bearish on the market than the media, the government and the National Association of Realtors. While it may not help my immediate business, it's my job to offer my honest opinion. In fact, recently, I told a client that I thought the St Louis metro market was as much as a year from seeing real improvement in home values as I felt like we were just reaching the bottom of the downward trend. Maybe I was wrong.
When we read or hear stories, they are often based on opinion or spin. The stories I have read lately, the ones I believe anyway, are based on statistics and laid out as honestly and simply as possible. One of those stories lays out basic statistics and illustrates some good news. The stats can be found here at the Department of Numbers website: http://www.deptofnumbers.com/asking-prices/missouri/st-louis/.
There are two very good indicators of the health of the real estate market, inventory and prices. Where are they currently and how are they trending. Finally, we are seeing improvement in inventories and a more moderate improvement in sale prices. This indicates to me that the bottom of the curve may be fast approaching, maybe as much as 12 months ahead of where I expected.
If you check out the link to the Department of Numbers link above, you will see that single family and condo listing inventories are at a 4 year low. In fact, the year over year inventories are 10.9% lower as of March 19, 2012. Remember, lower inventories means buyers have fewer options and they are more willing to pay asking price or even a premium for what they want. This is especially true as the spring season hits it's stride and the buyer pool increases. We will begin to see properties snatched up more quickly than in recent history. As a seller, are you in a position to take advantage of this trend?
Let's move to sale prices. If you again refer to the Department of Numbers link, you will see that sale prices are still dropping on a year over year basis. You might wonder how I can see that as a good sign. The sign I like is not the current but the trend. The price drops are slowing and have been slowing for some months. Now that we recognize this early, it allows you to be in the drivers seat when making your next home purchase. Are you in a position to buy now before prices even out in order to find the best deal?
The four focus items you should take away from my comments are:
- Interest rates are at all time lows and possibly poised to go higher,
especially if inflation kicks in.
- Inventories are at a 4 year low.
- Sale price drops are slowing.
- Financing is loosening for buyers.
If you are considering buying, let's talk about whether it makes sense for you to jump in now or risk being behind the curve as prices start to rise.
If you are considering selling, let's talk about how to position your home to sell quickly, especially if you have been on the sidelines afraid that buyers were going to beat you up on price. Is now the balance between a decent sale price and leveraging a low buying price on your next home?
Call me and let's talk!
Warmest regards,
Dan
Feb 24, 2012
Donations for Your School or Charity
Today, we are very pleased to announce our new program called Donation Drive. We have worked very hard to design this program to have the greatest financial impact with the least amount of work for the school or charity.
Most schools and charitable organizations struggle to have enough funds to support their various programs. Often, parents and volunteers must sit at tables, knock on doors or hold bake sales to help out. Our program allows us to help families connected with these Schools and Charities, while providing additional funds for their activities with very little effort by parents, organizers and volunteers.
Here are the three simple steps to make it work:
Talk Up The Program
On average, 1 of every 5 people is buying or selling a home or knows someone who is. Anyone that you know can mean a donation to your school or charity. When you think about how many people you know, that adds up. All you need to do is introduce us so that we may interview for the job of representing them.
We Help Them
If someone you introduce us decides to work with us, we will enroll them in the Donation Drive program. Our clients say great things about us, so rest assured they are in capable hands.
They Close and We Donate
Once the sale or purchase of their home closes, we make a donation to your selected school or charity for $150 or $200, depending on the agreement with your school or charity.
Simple, right?
The quicker you enroll your organization, the quicker you will have donations made to your school or charity. Call or email us today and we can help explain the program and get the ball rolling.
Cornerstone Academy
We are very excited to announce that Cornerstone Academy on South St Louis County is now participating in the Donation Drive program. If you or someone you know is connected to Cornerstone, contact us and we can answer all of your questions!
Most schools and charitable organizations struggle to have enough funds to support their various programs. Often, parents and volunteers must sit at tables, knock on doors or hold bake sales to help out. Our program allows us to help families connected with these Schools and Charities, while providing additional funds for their activities with very little effort by parents, organizers and volunteers.
Here are the three simple steps to make it work:
Talk Up The Program
On average, 1 of every 5 people is buying or selling a home or knows someone who is. Anyone that you know can mean a donation to your school or charity. When you think about how many people you know, that adds up. All you need to do is introduce us so that we may interview for the job of representing them.
We Help Them
If someone you introduce us decides to work with us, we will enroll them in the Donation Drive program. Our clients say great things about us, so rest assured they are in capable hands.
They Close and We Donate
Once the sale or purchase of their home closes, we make a donation to your selected school or charity for $150 or $200, depending on the agreement with your school or charity.
Simple, right?
The quicker you enroll your organization, the quicker you will have donations made to your school or charity. Call or email us today and we can help explain the program and get the ball rolling.
Cornerstone Academy We are very excited to announce that Cornerstone Academy on South St Louis County is now participating in the Donation Drive program. If you or someone you know is connected to Cornerstone, contact us and we can answer all of your questions!
Feb 21, 2012
Credit Crisis Easing
I just read an article about the easing of lending standards for borrowers. (http://www.dsnews.com/articles/housing-crisis-to-end-in-2012-as-banks-loosen-credit-standards-2012-01-24) I am going to stay cautiously optimistic. While I see positive signs, there are some signs that still worry me. I believe this spring will tell us quite a bit about how strong our economic recovery is and if the housing market is really on the upswing.
The flip side is that there have been lots of buyers in the market during this downturn. Maybe not as many as we would like, but savvy sellers have been able to capitalize on their strengths and engage these buyers. Even if sellers took a hit due to lower prices, they have been able to leverage those low prices when buying. Often, it has been a wash. For those on sound footing with their loan to value ratio, they have been able to move up into homes they once couldn't afford.
The lesson is, don't take the negative news at face value. You situation is unique to you and has it's own challenges and opportunities. Let's talk about how to leverage those.
Warmest regards,
Dan
The flip side is that there have been lots of buyers in the market during this downturn. Maybe not as many as we would like, but savvy sellers have been able to capitalize on their strengths and engage these buyers. Even if sellers took a hit due to lower prices, they have been able to leverage those low prices when buying. Often, it has been a wash. For those on sound footing with their loan to value ratio, they have been able to move up into homes they once couldn't afford.
The lesson is, don't take the negative news at face value. You situation is unique to you and has it's own challenges and opportunities. Let's talk about how to leverage those.
Warmest regards,
Dan
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