Monday, June 24, 2013

IS IT A GOOD TIME TO SELL YOUR HOME?


First, of course, we could note what others think. The recently-released May 2013 National Housing Survey by Fannie Mae showed that 40% of responders said that now is a good time to sell a home. That is up from only 16% in May of last year. At the same time, 76% of Fannie Mae's responders said that it is a good time to buy a home -- just a little more than the number of those who thought so last year. Redfin has surveyed real estate agents on the same issue. 82% said that now is a good time to sell, compared to 54% last year.













Probably the best reason for thinking that now is a good time to sell is because now is a good time to buy. "Wait a minute!", you say. "How can that be? Isn't it contradictory?" Well, no, it's not. Whether it is a good time to sell or a good time to buy isn't like a zero-sum game where what's good for one is necessarily not good for the other. Good conditions for buying can mean that there are more potential prospects to sell to. Moreover, just because the conditions for buying are good doesn't necessarily imply that prices must be low. Of course, if they are extremely high, then that won't be a good time to buy.

WATCH VIDEO

The low interest rates that have recently been available have done two things for sellers. They have created a larger pool of potential buyers and they also have made it possible for prices to rise without shutting out those buyers. This will not, however, last forever. Even now we see occasional headlines that say things like "interest rates recently roared back up to 4%". (Who ever would have thought that 4% would seem high?) While they currently seem to be in a floating back and forth mode, some day the Fed will reverse course and they will begin to rise.

Another reason to think that now is a good time to sell is because inventory is still low, meaning there's less competition. To be sure, inventory is creeping up in many markets, but it is still historically low (60% of the peak in 2007). Why is inventory so low? There are disparate reasons, but certainly one of them is the belief that prices will continue to rise. Some people want to wait for that to happen. It is not just owners who think prices will rise. According to the same Redfin survey, 44% of agents thought that prices will rise "a lot" in the next twelve months. Only 11% thought that last year.
Whether it is a good time to sell is always, ultimately, an individual question. What would be the reason for selling? Would it entail another purchase?

So, is it a good time to sell? Sure is.















Terry Naber, RE/MAX Properties, Inc, is an experienced real estate professional since 1990 having served hundreds of clients and helping them in the process and dream of home ownership.  Terry KNOWS the market in the Colorado Springs, CO. region.  Give her a call to discuss your plans to sell and list your home, gather information, and find out what Terry can do to get you the best market price with the least time on the market!  Call 719-590-4796. 


Wednesday, June 19, 2013

5 ESSENTIAL TIPS FOR BUYING A HOME

Looking To Buy a New Home? Here Are 5 Essential Tips To make the process a smooth one





Get your finances in order.
Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house.

Find a house you can afford.
As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.








Hire a professional.
While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.
Do your homework.
Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.





Think long term.
Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future.
Terry Naber, RE/MAX Properties, Inc, is an experienced real estate professional since 1990 having served hundreds of clients and helping them in the process and dream of home ownership.  Terry KNOWS the market in the Colorado Springs, CO. region.  Give her a call to discuss your plans to sell and list your home, gather information, and find out what Terry can do to get you the best market price with the least time on the market!  Call 719-590-4796.  


Wednesday, June 12, 2013

Helping The Dream of Home Ownership Happen

During the recession, sellers were holding onto their homes.  With that behind us now, sellers are listing their homes, and enjoying good sale prices. 

Here's Some Buyer "Eye Candy...."

Stunning Kitchen That Creates a Little "Envy?"
















How About a Room "Bursting" With Bunks?  

























What a Way To "Cook" It Up Outdoors!

















Whatever your flavor, Terry Naber at RE/MAX Properties, Inc, Can help you find your next home. 
Give Terry a call at 719-590-4796 or visit online and FIND YOUR HOME HERE. in the Colorado Springs, CO. region!

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BTW...
The Hiring Outlook in Colorado Springs is The Best In Nearly 5 Years.
The outlook for the Colorado Springs job market for the third quarter is the best in nearly five years and among the best in the nation. We are back to a booming economy and thriving real estate market.  Come enjoy the life Colorado Springs has to offer.














Tuesday, June 4, 2013

Home Sale Prices Reaching Higher Ground

Buyers Push Home Sales Prices Higher For Sellers
Home prices continue to surprise, posting a double-digit annual gain in April. Much the same expected for May.

Home prices, including distressed sales, increased 12.1% year-over-year, representing the biggest annual increase since February 2006 and the 14th consecutive monthly increase,CoreLogic said Tuesday.
Additionally, home prices, including distressed sales, increased by 3.2% from March to April.
"Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20% or more," said Dr. Mark Fleming, chief economist for CoreLogic 
Excluding distressed sales, home prices increased 11.9% on a yearly basis. While home prices, excluding distressed sales, also increased on a monthly basis to 3% in April compared to March.
Of the top 100 Core Based Statistical Areas, measured by population, 94 posted year-over-year increases in April, unchanged from March.


"The pace of the housing market recovery quickened in April as home prices rose across the U.S.," said Anand Nallathambi, president and CEO of CoreLogic.
He added "For the second consecutive month, all 50 states registered year-over-year home price gains excluding sales of distressed homes. We expect this trend to continue, bolstered by tight supplies and pent up buyer demand."
If you are interested in selling your Colorado Springs, CO. home, call Terry Naber @ RE/MAX Properties, Inc at 719-590-4796.  Find out what your home is worth and the best approach to maximize your sale price with minimum days on the market.  Let Terry's 23+ years experience, knowledge of the Colorado Springs Real Estate market, and marketing systems help you achieve your goals.
Visit our website at www.TerrySellsColoradoSprings.com 
Send Your Requests For More Information HERE







Monday, May 27, 2013

Home Staging Tips For Sellers Pays Off In Spades!

Home Staging Tips 

The first steps of staging a home, including cleaning, painting,
and de-cluttering. Let's look at the next important steps, including de-personalization,
placement of furniture and accessories to maximize light and space, and setting the mood with scent and sound.













De-personalize.

Don’t take it personally when your stager or real estate agent tells you to pack away everything personal. All those photos, trinkets and treasures you’ve so artfully displayed throughout your home may be meaningful and even stylish, but to potential buyers, they are a reminder that the home has been lived in. Your mission, should you choose to accept it, is to take yourself out of the picture and help the next homeowners imagine themselves living there.

De-personalizing is the hardest part of staging for most people because it means getting rid of things they hold dear. Actually, it doesn’t mean getting rid of them — if you don’t want to sell or donate them, you can simply box them up and rent a storage unit. (We used PODS — they’ll deliver a storage box to you, you fill it up, then they transport it to a climate controlled warehouse and deliver to your new location whenever you say so.)
Pack up and store anything that suggests your family lives there. Paperbacks, knickknacks, extra food in the pantry — go through each room one at a time and take away anything that you wouldn’t find in a model home.


In the kitchen, pack up all unused appliances and gadgets, and put appliances you need (even the toaster) in a cabinet. Some stagers say no more than one appliance is allowed on the counter, and only if it sparkles. Take all magnets off the fridge. Remove all other items off the counter except for a vase of flowers and/or a bowl of fruit.

Ditto for the bathroom — open counter space gives the home a cleaner and more spacious feel. Put cosmetics, hair products, toothpaste and toothbrushes in a drawer after you use them each day.
Pictures personalize your home more than anything else, so, as hard as it is, put those precious memories into storage while your house in on the market.

In my old house, picture frames themselves were a large part of my decorating style, so I packed away all of the smaller ones and kept out only a few large frames with bold lines and textures. Then, following the advice of a model-home designer, I replaced family, graduation, and wedding pictures with perfectly lighted, glossy magazine slicks that were neutral and cosmopolitan enough to become model-perfect decor. (My family still jokes about how much we grew to like those newly acquired relatives.)

Don’t forget to depersonalize the front of your home; remove name plaques or other items that personalize the home.
Group and place items to maximize light and space.

Everything you do should be geared toward creating the illusion of light and space. Think bright and airy, and look for opportunities to create vignettes so people envision themselves enjoying the space.
Move couches and chairs away from walls and into small, intimate groupings. If you have large furniture, consider getting rid of at least one piece of it (an overstuffed chair or love seat), and then group remaining items closer together (possibly at a diagonal). Some stagers recommend removing about a third of the furniture in a home to open up space; others suggest that once everything in a room looks perfect, remove one more item.

Remove wall clutter too, if you have it. The size of wall art should play well with the size of the room; too busy, too high, too large or too small can all spoil the look.
Don’t neglect living areas outdoors; buyers will see them as additional space, and it’s one more chance to imagine what it would be like living there. Put up a bright new umbrella and new cushions on your patio furniture to invite buyers outside.
We even set our patio table with colorful place mats and fun plastic place settings, so our buyers could envision themselves kicking back with their friends.

Empty homes are usually hard to sell because most people have a hard time understanding how a space is used or its actual size without furniture for scale. If you’ve moved all of your furniture out, your home sale may depend on having your home professionally staged with furniture and decor brought in. One goal of staging is to help buyers visualize the potential use for a room, which is why most stagers will ask you to move that pool table from your formal dining room.

Arrange furniture so as not to block the natural path through a room. For example, people should see the foot of the bed from the doorway, rather than seeing the side of the bed and having to walk around it. Speaking of the bedroom, stage for romance. Remove the television; most women don’t consider a TV in the bedroom romantic, yet studies show 80% of the time it is women who make the final decision to buy a home. Add pillows and go for luxurious beddings. If you have a mirror or dresser topper, consider removing it to open up the space.

Keep scale and balance in mind when decorating. When accessorizing, repeat shapes and lines of other items in a room. A few large, bold accessories are better than small ones, which tend to look like clutter. Take a tip from photography and graphic design: You can’t go wrong with triangular arrangements and groups of threes.

Lighting. A good rule of thumb is to let in as much natural light as you can, then add main lights and ambient lighting in every room. Sconces can add additional ambient lighting and draw attention to walls and ceilings, making rooms appear larger. Open all window coverings, have them cleaned, and remove them completely if they are heavy or block too much light. Turn on all lights before a showing, even during the day.
Engage the rest of the senses.

Sound. Set the mood for your home with soft music playing in the main living areas. You don’t want to offend anyone if they don’t share your love of country music, but classical guitar is generally neutral and relaxing enough that it lends to, not detracts from, the ambience.

Smell. Scent is an often overlooked part of staging. The ideal scent in a home is freshly baked bread or cookies, but who wants to throw a batch in the oven every time there is a showing? A lightly scented candle (not overpowering) that smells like freshly baked sugar cookies is a good alternative. (My personal favorite: Gold Canyon’s Sugar Cookie candle. You can Google "Shop Gold Canyon" to order online.) To further freshen your staged home, run a lemon through the disposal, put out fresh flowers on the kitchen table, and place a bowl of fresh fruit on the counter. Pineapple and lemons both smell amazing.

Touch.  Adding or highlighting texture throughout your house can be a great way to create an interesting space where people feel comfortable and want to linger. Thick, luxurious towels in the bathroom evoke a spa feeling, and a rich, touchable comforter with extra pillows can make a bedroom feel like a posh hotel.

Hire out or do it yourself?
Should I hire a professional stager or do it myself? That depends. If you can emotionally distance yourself from your home enough to see it objectively, as a commodity, and are committed to doing everything it takes to make it stand out, and you have an eye for style but more importantly a marketing mind, you might fare well. Many real estate agents will insist that you at least consult a professional staging company, then decide whether to hire them or take on the job yourself.

Benefits to using a professional stager include their knowledge of the market and what level of staging buyers expect to see in your price range; they have vendors on hand to do any suggested repairs or updates (painters, handymen, etc.); and they have access to furniture, potted plants, and other art pieces on hand to immediately fill in spaces where you need it.


Keep in mind that paying to have your home professionally staged will usually pay off in spades. Homes that are well staged usually command 6 to 20 percent higher prices than their unstaged counterparts and sell more quickly. Less time on the market means fewer loan payments for you. Plus, if you can sell quickly and avoid one or more price reductions, professional staging could be a worthwhile investment.

If you are considering listing your home, now is a great time. Click Here to get a FREE Report on the Valuation of your home. Give Terry Naber, RE/MAX Properties, Inc. a call at 719-590-4796.  



Thursday, May 23, 2013

How Boomer (Ages 40's-60's) Home Sellers Can Effectively Sell Their Homes To The Millenials ( 30's-40's ) - Newest Largest Group of Buyers


The housing market is snapping back – prices of single-family homes rose 9.3% over the past 12 months, according to the S&P Case-Shiller index.

 Homeowners who are in their 40s, 50s and 60s face both short-term and long-term challenges if they want to hook Millennial buyers in their 20s and 30s (who are also known as members of Generation Y and echo boomers).




Millennials and Gen Xers [roughly age 36 to 49] expect to walk into homes that are straight out of HGTV and look like they’re falling out of a magazine page, with modern colors and furniture styles.  Homes that don’t look like that may sell, but their owners could get a bit hurt on price.

Here is how the experts recommend making your home more fetching

Millennials want to use living rooms as rooms where people actually live.
That means using the rooms for the full range of life’s activities, including entertaining friends and watching TV.  They want their home to allow for easy entertaining. In a PulteGroup survey, 76% of Millennials said “TV, movie and sports watching” was extremely or very important to them in a new home. (Presumably, it would be important in an older home, too.)

Neutral walls “There’s been a popular belief over the years that painting your walls a neutral, off-white is the best thing to do for home buyers, but our research tells us differently. We find that certain bold colors work very well.

Carpeted floors -  Younger buyers want hardwood floors.

Homes located far from public transit and poor for “walkability” A new study by the American Public Transportation Association and the National Association of Realtors found that home values performed 42% better between 2006 and 2011, on average, when the properties were located near public transportation.

Walkability is the buzzword that describes how easy it is to walk to stores, schools, work or public transportation. In a Zillow blog post, walkability is one of the “10 things that make a home a good home.”

Poor cell and wireless service. If it’s not easy to get a cell or wireless connection, that would be a definite turn-off for this generation. Consider installing a cell booster device.

How to Make Your Home More Alluring to Millennials
You can’t move your house, of course, so if it’s located far from mass transit, scores low for walkability and is far from cell towers, you’ll just have to live with that and hope to find a buyer who’ll accept the drawback.

If your home has any of the other flaws cited, here’s what to do:

Visit nearby homes for sale to see how yours compares. That’ll let you know whether you need to launch a minor renovation to make your house look like the competition.

You might also learn that although your house looks a little dated, so do your neighbors’ homes.  If the other houses for sale have old kitchens like yours, you may be OK.

Hire a home stager. Terry Naber knows good ones. This pro will swoop in and make your house look more presentable to would-be buyers.

The expert who stages your home might put some of your dining and living room furniture into storage, so prospects could imagine their own tables and chairs there. Or the stager could replace what you have with contemporary, rented tables and chairs from the company’s warehouse.

Most younger buyers don’t have a keen sense of imagination when they walk into a home. If they go into a house with a lot of outdated stuff, it can be difficult for them to see through the clutter and picture what they’ll do with those rooms.

Buyers feel more connected to a house when it’s staged.
Again, Terry Naber can recommend a good stager.

Persuade buyers that your dining room could be something else entirely. Chris suggests putting tent cards in your dining room that say “Dining Room or Office.”  Alternatively, you or your real estate agent could draw up floor plans for the dining room and other spaces that show potential furniture arrangements that differ from your layout and suggest other possible uses.

If your house doesn’t have a home office, real estate pros say, it’s important to indicate where prospects could set one up.

Let us help you list, prep for sale, market, and sell your home for the best value in the Colorado Springs region.  Let us know what information you want by CLICKING HERE
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You Can Reach Terry Naber at RE/MAX Properties, Inc 
by Calling  719-590-4796 and visit www.TerrySellsColoradoSprings.com









































Sunday, May 19, 2013

Colorado Springs Housing Market Makes More Strides In April

The local housing recovery picked up steam last month, as the pace of homebuilding jumped to a nearly seven-year high and the number of properties falling into foreclosure continued to slow.


Single-family homebuilding permits, which serve as a yardstick to measure construction activity, totaled 302 in April in Colorado Springs and El Paso County, according to a report Wednesday by the Pikes Peak Regional Building Department. That's a 58.1 percent increase over the same month last year.

April's total also was the highest number of permits issued by Regional Building in any month since an identical number of permits were issued in June 2006, records show.

For the first four months of this year, single-family permits totaled 927, a two-thirds increase over the same period in 2012.

Historically low mortgage rates, an improving economy and better job numbers all have been credited with propelling a turnaround in homebuilding.

Nationwide, 30-year, fixed-rate mortgages averaged 3.40 percent last week, their lowest point since January, according to mortgage giant Freddie Mac. Meanwhile, the local unemployment rate of 8.3 percent in March was at a four-year low.

Homebuilding is a closely watched sector of the local economy because it employs thousands, including builders, subcontractors, suppliers and the like.

Also, local governments such as Colorado Springs and El Paso County collect sales taxes on the purchase of building materials, which pump millions of dollars into their annual budgets to help fund public safety, parks and other services.

Meanwhile, local foreclosure filings totaled 173 in April, a 41 percent year-over-year drop, a report from the El Paso County Public Trustee's Office showed. Year to date, foreclosure filings totaled 722 through April, down 62.4 percent from the same period last year.

The same low mortgage rates are helping property owners avoid foreclosure by making it easier for them to sell or refinance their homes, housing industry members have said.