This is a frustrating time for sellers...and real estate agents who have listings that don't sell!  All homes sell eventually..what sellers need to understand is that in this market, they need to put themselves in the mindset of a buyer..and act accordingly!  It's true that there are fewer buyers right now. EVERY potential buyer that tours your home is a possible sale.  What can you do to make your home stand above the five, ten or fifteen other houses those buyers are viewing at the same time?

1.  Be realistic about pricing.  You cannot price a house the same way you could 3 years ago.  What may seem like a fair price in this market may be percieved as being overpriced to a buyer. Who cares what the comps say?  Buyers today expect a bargan basement deal.  It truly hurts to even write that sentence.   Agents with listings in my office complain about two things:  1) not many showings and 2) lowball offers.  No agent wants to write a lowball offer but we all have to do it.   Before you price a house, look at the competition and price yours accordingly.  It's true, you can always 'go down' in price.  Think about this: would you rather have a fast sale close or at your asking price...or have the house sit on the market for several months with the price gradually going down?

2.  Think like a buyer.  Many buyers in this market are very frightened. They are asking themselves, will home prices drop further?  will interest rates drop? what if I loose my job? is this the right neighborhood? is this the right time to buy? Buyers are skittish and unsure.  They are taking a long time to make up their minds.  Your home needs to be so appealing that a buyer can't say no.  Play up your home's strengths and positive features.  Point out the benefits of your neighborhood.  Don't be insulted if you get a lowball offer..at least it's an offer and perhaps you can work something out.  Be prepared to have it sit on the market a little longer than usual. 

3.  If your house isn't updated, compensate for it in the price.  Most buyers today do not want to renovate kitchens and baths--these areas are usually a very expensive redo.  Buyers want a home that is move in ready.  If your house is outdated, compensate for it in price.  If you can spruce it up by spending a little money, do it before it hits the market.  Whatever the condition, make sure it's decluttered and clean.  Buyers need to imagine themselves living in the home.

4.  Be patient during the holiday season.  If your home is listed during the holidays, showings will slow down.  Buyers that don't have to buy are concerned with other matters.  However, there are some buyers that will move at the end of the year--perhaps due to a job transfer or some other circumstance.  One question agents are asked by sellers is , 'should I take my house off the market over the holidays?'.  This is a tough one to answer.  Buyers won't be looking at it unless they know it's for sale.  However, having it on the market often means people trudging through  your house during nasty weather, keeping the sidewalks and driveway clear, making sure presents and other valuable gifts are hidden away.  My advice is that if the seller isn't in a rush to sell, take a break and take it off the market.  Relist after the first of the year.

Thanks for reading my blog.  If you would like a comparative analysis of homes in your area, please email me. mary.hutchison@prukc.com

Do you hear what I hear? 

No, not Christmas bells yet...it's the incessant drum beat of 'the banks aren't loaning money!'

Let's be specific...the banks are still making HOME loans so buyers can purchase real estate.  Really!

Yes, you may need to have a higher credit score than in the past...yes, you may need more of a down payment...yes, the underwriters are looking more carefully at appraisals and pricing...but BUYERS CAN STILL GET LOANS. 

So if you want to buy...and if ever there was a time, THIS is the time...talk to a couple of mortgage bankers and check out your options.

Responsible buyers with steady income and good credit history..can get a home loan!

Short and to the point for this blog.  Email me with your comments, and thanks for reading!

The Palin Wink

Full disclosure up front:  I am not a McCain/Palin supporter.  But if any prominent Democrat woman started winking to the camera, I would be just as disappointed.

I have to believe the Palin wink is encouraged by the Republican handlers behind her, carefully shaping her image to appeal to "Joe Six-pack" and "hockey moms". What serious female politician would allow this to happen?  What is she trying to convey with this wink--and how professional does it look?

Sarah comes off as very likeable,  and obviously relates to millions of voting Americans. As my Dad said, "She's my gal!"  But the wink and the manner of speaking comes across as too folksy and too sexual.  Sarah, you can be yourself but polish it up!  You had to work hard to beat 'the good ole boys' as you call them to get where you are...don't demean yourself or your success by projecting such a "I'm so ordinary, just like you" image...when you are running for a national office.  Voters want politicians  they can look up to, respect, admire, and have confidence in. Everyone has a chance to run for office..but not just 'anyone from Main Street' can be a successful, respected  politician. You are asking voters to believe that you can govern the United States of America...does a wink wink and a shout out convey you are serious about the job?

Image counts for a lot in every business.  Gloria Squitiro, Mayor Funkhouser's wife, should brush up on her image as well.  Gloria is apparently a very warm and loving person.  But when anyone is working in the Mayor's office representing Kansas City, a professional image and demeanor is a must. Dressing professionally is the first step, Gloria, then tone down the 'you  have to take me as I am' attitude.  It's not  all about you--it's about your  husband, and you should have enough respect for him and the importance of his office to stay home and out of City Hall...precisely because of the non-professional image you project.

Finally...relating these thoughts to the real estate business.  Realtors, show some respect for yourselves and your customers and  dress well!  And I don't mean spending lots of money for suits, ties and silk dresses. There are so many options for attractive clothes that look nice and feel comfortable yet project a professional image.  Not only are you representing yourself, but you are representing your clients, so make the extra effort to pull yourself together with a neat, coordinated look.  I have seen agents in jeans and tee shirts, untucked, with tennis shoes and ball caps...at open houses, showing clients and representing new home projects.  Your clients can be as casual as they want--agents should  make an effort to dress, at least, 'business casual'.  You will look better, feel more confident and it may pay off in more sales.

Don't Be Afraid!

Do you get the feeling that everyone is so skittish these days?  It's hard to stay positive as the stock market soars and crashes like the mood of a two year old...did you hear Joe Smith got laid off?... is that the right price, $1.50 for a dozen eggs?..and on and on.  A lack of confidence  in the economy and national leadership is ruining the mood.  When people feel uncertain, they put off making bigger decisions...decisions that may have already been made will now be questioned.  Specifically, should I sell my house now?  Should I buy my first house?  What if I can't get the price  I want for my house? What if I can't get a loan?  What if no one makes an offer?  Etc etc etc...I've heard it all.

There is no doubt that times are tough.  But what is it that YOU want to do?  What is driving YOU and how can YOU change the situation?  You have no control over the Wallstreet bailout or the cost of eggs, you DO have control of your housing situation.  Being paralyzed with fear over 'what if'' gets you nowhere.  If that is the course you choose--than stop complaining and live with your decision to do nothing. 

But if  you want to explore your options and take a positive step towards buying or selling, consider these points:

1.  Start your research.  Whether you want to buy or sell now or  next year, check out what is going on in your neighborhood and/or the area you want to buy in.  Go to open houses, look on line, pay attention to what homes are selling...or sitting.  Talk to friends and neighbors who have gone through a real estate transaction this year and ask them:  are you glad you did it?  what was the worst part of the deal? are you happy in your new home?  what would  you have done differently?

2.  Talk to an agent...and I mean, just talk.  Make no promises about your plans to buy or sell.  Just ask for information.  Ask the agent to be honest with you about current market conditions and have s/he bring you some stats.  Get hooked up to one of the realtor websites that lets you monitor the neighborhood you are in or want to be--the site will show you new listings, days on market, back up and pending status.  Many agents will try to get you to list or buy now--but in the beginning, just talk.  Get a feel and then go with your gut if you think now is the time.

3.  Don't pay too much attention to how slow the market is for sellers.  Yes, it is generally taking longer for houses to sell but know this:  I showed a house this week that had two offers in less than 48 hours.  There are buyers out there who are ready to buy now.  There are always buyers--just not enough to balance the large inventory.  There are sales every month, people are still moving. All real estate is local--what's happening in your area isn't the same as Detroit or Miami.

4.  If you decide to sell , remember it really doesn't cost you anything to list your home.  Sure, you should spend some money making improvements in decor, curb appeal, cleaning and maintenance.  It can be an inconvenience having others come through your home.  But what have you got to lose?  You want to sell it...and it won't sell unless buyers know it's an option. You'll get good feedback on pricing, appeal of the home, positives and negatives.  So give it a try before the holidays set in.  You may get two offers in less than 48 hours!

5.  If you decide to buy..talk to a couple of mortgage lenders, ask LOTS of questions, and get pre-approved. Remember, you will probably get pre approved for more than you are comfortable spending each month on a payment.  DON'T get sucked into that trap.  Look at your other expenses, particularly the cost of utilities and what you spend on gas and food--then decide on a payment you are comfortable with.  You may be surprised--you can get more house for your money in this market that you thought.

Everyone feels fear, about so many things that are beyond their control.  Don't let it get in the way of making a thoughtful, responsible, reasonable  decision regarding buying or selling a home based on your needs..  Some days I'm afraid I'll won't get a paycheck for several months...but am I quitting?  NO.  I just work harder!  And I stay positive.  Because the one thing you can always control.....is your attitude!

I appreciate your comments..thanks for reading my blog!  If you would like specific information on home sales in your area, email me.