May shows continued strong pace for existing-home sales
June 23, 2010
WASHINGTON – June 22, 2010 – Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors (NAR). Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.
Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. “We are witnessing the ongoing effects of the homebuyer tax credit, which we’ll also see in June real estate closings,” he said. “However, approximately 180,000 homebuyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales. Read more
Florida’s existing home and condo sales rise in May, 2010
June 22, 2010
ORLANDO, FL., June 22, 2010 – Sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.
A total of 16,745 single-family existing homes sold statewide last month compared to 14,172 homes sold in May 2009, according to Florida Realtors. The statewide existing-home median price of $140,400 in May was slightly higher – by $300 – than April’s statewide existing-home median price of $140,100. It marks the third month in a row that the statewide existing-home median price has increased over the previous month’s median.
Across the state, a variety of housing opportunities continues to be available at attractive prices while mortgage interest rates remain historically low, said 2010 Florida Realtors President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville.
“Favorable conditions like this spark buyers’ interest,” Davis said. “However, like the rest of the world, Floridians are deeply concerned about the long-term ramifications of the April 20th explosion of BP’s Deepwater Horizon oil rig, which killed 11 people and triggered the oil spill disaster in the Gulf of Mexico.” Read more
Top 10 Most Expensive Tampa Bay Listings
June 17, 2010
The following 10 listings are the most expensive homes currently on the market in the Tampa Bay area of Florida as of June 17, 2010. They range in price from a high of $17,500,000 to $9,995,000. All are breathtaking.
#1: 706 Guisando De Avila, Tampa, FL 33613 – $17.5 Million
Lake Jovita Golf and Country Club
June 16, 2010
Lake Jovita Golf & Country Club
12900 Lake Jovita Boulevard
Dade City, Florida 33525
(352) 588-2233
What documents are needed in a short sale?
June 13, 2010
What is a short sale?
A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan.
Unfortunately, there is nothing “short” about short sales so be prepared for a lengthy process far more complicated and frustrating than a traditional sale. But in the end a short sale can save your credit from the long-lasting blemish of a foreclosure.
What documentation will I need to provide to my Realtor and lender?
Authorization Letter
An authorization letter giving your lender permission to speak with your Realtor about your loan(s).
2 most recent months of bank statements
You can use your online bank statements. Just print out the last 2 months.
2 most recent months of paycheck stubs
Be sure to use the 2 most recent paychecks or you’ll delay the process.
Last 2 years W-2s
Employers provide this to employees and to the IRS every year.
Last 2 years tax returns
If you missed filing write a note to the lender explaining this fact.
A hardship letter
A letter describing your financial troubles and inability to handle the mortgage payment.
There are many additional forms and documents that your lender may require, but just about every lender requires these above items. It makes sense to start locating these documents immediately when you believe you’re going to be attempting a short sale.
Your Realtor will need to provide an executed sales contract (both buyer and seller have signed), a comparative market analysis justifying the contract price, a signed listing agreement and a HUD-1 settlement statement.
Expect prices in Tampa Bay to drop even more
April 29, 2010
We hear so many different opinions on the subject of home values and the overall real estate industry that it is very difficult to know who or what to trust. I’m here to tell you that nobody really knows and anyone who claims to be an expert on the subject is trying to sell you something.
As someone who lives and breaths real estate I can say with complete confidence that I don’t know what the future holds. All I know for certain is that there are too many homes on the market for the quantity of buyers, and as a result prices are down and will remain down. If you’re looking to sell now or in the immediate future you need to face the music. You’re not going to get what you probably feel you deserve for your home should you decide to sell in 2010.
According to Inman News
National home prices were up slightly in February from a year ago — the first annual increase in more than three years — but are expected to give up those gains and more later this year, according to a report from First American CoreLogic.
First American CoreLogic’s LoanPerformance Home Price Index showed prices up 0.3 percent in February from a year ago, compared to a 0.5 percent year-over-year price decline in January.
The index currently shows a 30.6 percent decline in national home prices from an April, 2006 peak, or 21.7 percent if distressed properties are excluded.
Bending over backwards for buyers
March 23, 2010
It’s 2010 and the real estate market in the United States is still in turmoil. Nobody knows what the real long-term prognosis is for this troubled sector of the nation’s economy. Recent news shows us that home sales have now fallen for four straight months, hitting a record-low in February.
With all this uncertainty it is very important to figure out which factors in the equation you can control to some degree. As a home seller you need to realize just how precious and valuable each and every showing opportunity is. You can’t control the big picture, such as the economy or demand for real estate, but you can control the small picture, such as how well your home shows and how easy it is for buyers’ agents to show your home.
All too often sellers get asked to allow a showing on short notice or during inopportune times. Yes, this is annoying and frustrating. I get this. But there is an old idiom, “beggars can’t be choosers,” that really applies here. That buyer that calls 30 minutes before they want to see your house could very well be the buyer that steps up to the plate and makes an offer. Turning him or her away simply on principle because you’re upset they didn’t give you advanced warning of their arrival could backfire on you. That might have been the only buyer interested in your home.
Sometimes you have to swallow your pride and stifle your frustration. Allow that showing while you’re making dinner or watching a recording of the latest American Idol episode. Keep the goal in mind. You want to sell and you cannot sell without showings.
Lighten up!
March 18, 2010
Quite often when I’m showing houses I come across a home that literally feels like a cave. All of the blinds are closed and no sunlight at all is penetrating. What are these sellers thinking? While keeping the sun out may be good for your power bill it is bad for showings. If buyers feel depressed the moment they enter your dark and gloomy home the last thing they’re thinking about is paying good money to live in such an environment.
Open your blinds and let the sun shine flood the room. Buyers want to see bright and happy rooms and this can only be achieved if they can actually see the room. Don’t make them search for light switches in the middle of the day just to see your home.
Staging Your Home to Sell for Top Dollar
January 18, 2010
Staging Bathrooms and Bedrooms
January 17, 2010
Vacant Home Staging – Before and After Examples
December 26, 2009
Home Staging Tips: Master Bedroom Staging
December 25, 2009
Staging a Dining Room Table
December 24, 2009
Lofty Designs – how to decorate your loft!
December 19, 2009
Home Staging Tips: How to stage the home office
December 18, 2009
Top 10 Inexpensive Real Estate Staging Tips
December 17, 2009
The Kitchen – Staging Your Home
December 16, 2009
Simple $5 Fix that can sell your House Fast
December 15, 2009
Staging Your Home Before Selling
December 13, 2009
Barbara Corcoran on Home Staging
December 11, 2009
Only 1 in 8 short sales ever close
December 10, 2009
Fannie Mae recently released statistics showing the difficult nature of a Short Sale transaction and how that relates to Foreclosure statistics.
In 2008, Fannie Mae found that for every one short sale that closed, eight homes went into foreclosure. This speaks to the difficult nature of the Short Sale process and the backward nature of how lenders handle them.
Unique ways to sell your home
December 1, 2009
Home Staging Tip: How to Add Pizzazz to Your Master Bedroom
November 29, 2009
12 Home Selling Tips for Attractive Curb Appeal
November 28, 2009
FREE Home Staging Tips ‘Sun Appreciation’
November 27, 2009
What do my clients think of me?
November 24, 2009
Inquiring minds want to know! Well, I’d like to know.
Today I dropped in the mail a simple 1-page Customer Satisfaction Survey for my past and current real estate clients. I’m looking for honest feedback, whether it be positive or negative, on how I can become an even better Realtor. So when you receive your survey in the mail I do hope you answer the questions openly and honestly. I’d like to learn and grow from this experience so don’t be shy.
Your survey will look similar to:
1. How would you rate your overall satisfaction with me as your Realtor?
___ Very Satisfied ___ Satisfied ___ Dissatisfied ___ Very Dissatisfied
2. Would you consider hiring me again or referring your family and friends to me?
___ Yes ___ No
3. Have you hired another Realtor or referred your family or friends to another Realtor at any time after I was your Realtor? Please be honest! This is very important to me.
___ Yes ___ No
4. Please share constructive criticism about your experience with me as your Realtor. Even if you were happy with me please tell me how I could have done an even better job.
_____________________________________________________________________________________
5. If you were happy with my real estate services would you consider writing a brief testimonial for www.CallChrisToday.com/testimonials/? ___ Check here to publish testimonial anonymously.
_____________________________________________________________________________________
_____________________________________________________________________________________
6. Have you ever visited www.CallChrisToday.com and how often do you visit?
___ Yes, and often ___ Yes, but rarely ___ No, but I will ___ No, and I’m not interested
7. What type of articles would you like to see at www.CallChrisToday.com? Are there any specific real estate subjects or questions you would like addressed on my blog?
____________________________________________________________________________________
8. Would you like to continue receiving my monthly printed newsletter?
___ Yes, I enjoy the articles ___ Yes, but only to keep in contact ___ No, thank you
9. Have you changed your email address or phone number? Let me know of any changes so that we can keep in contact with each other.
Email: ____________________________________________ Phone: ___________________________
Please use the enclosed postage paid envelope to return your survey. Thank you for your time!
Homestaging a Bedroom
November 15, 2009
FREE Home Staging Tips ‘The Big Payoff’
November 5, 2009
Super Stagers Home Staging
November 2, 2009
Charles Rutenberg is rated #1
October 16, 2009
If you’ve been paying attention as you drive around Tampa Bay neighborhoods you’ve undoubtedly noticed an abundance of Charles Rutenberg Realty signs dotting the yards. There are good reasons for why we’re dominating the real estate market, but this blog post isn’t about the why of our success. It’s simply to note that we are successful and significantly more so than every other real estate brokerage in town.
Charles Rutenberg has 3x as many listings as the 2nd place real estate company. With 1997 total listings we have more listings than the next 4 brokerages combined. We control an impressive 19.46% of the market for active listings.
But active listings are only one indicator of success. Even more important than what we have for sale is what we actually have under contract. According to the Kenst Report, the industry ratings guide for the Tampa Bay area, Charles Rutenberg Realty is outperforming all other real estate brokerages. Our share of the market is just under 25% at 24.83%. Our nearest competitor comes in at 10.43%.
And even more important than active listings and listings under contract are listings we’ve actually sold. So let’s take a look at those numbers now. From January of 2009 through the end of September 2009 Charles Rutenberg Realty sold more than 2x as many listings as the 2nd place real estate brokerage. And to show this isn’t some sort of fluke we can look at the same statistics for 2008 and see a similar level of dominance.
Why share these statistics with Tampa Bay area home buyers and sellers? The time will come when just about everyone will need to buy or sell real estate. And at this point a decision needs to be made. Will you hire the best or one of the rest? Yes, that rhymed. I couldn’t help it. I feel like a cheerleader right now, but trust me, you don’t want to see me in a cheerleader uniform.
