Archive for the ‘Homeowner Tips’ Category

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Our New Real Estate Website

July 7, 2015

Check out our New Website.  It is full of useful resources for both buyers and sellers in today’s competitive market.  Check out our Community Pages which will not only tell you a little about the place, but we even have the weather.  Remember if you want to buy or sell start at our website:   http://www.tangihomes.net

 

 

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Real Estate Trends Report for Hammond Ponchatoula, Louisiana

June 30, 2015

 

 

 

I have included in today’s blog a link that will bring you to a trends report for the Ponchatoula/Hammond Area.  I tried to make a picture out of it so you would not have to click, but the image just kept coming up very blurred.  So either it’s blurred or you click, sorry I choose click.  Seems Hammond and Ponchatoula Markets have rebounded dramatically.  The Markets are actually thriving at this point.  Sales are getting a little more difficult to bring to fruition, but that is not the fault of the buyer or seller, just the Industry in general is getting a little more difficult.  So if you are in the Market to Sell – Now is the time!!!!  If you are in the market to buy call me so I can get you to properties quickly to eliminate competition.  We look forward to helping you all.  As we always say.  The Martin Team is Where Knowledge and Experience Meet Hardwork!!

http://www.tangiproperties.com

 

 

Real_Estate_Trend_Indicator7427

The Martin Team - Where Knowledge and Experience Meet Hardwork!!

The Martin Team – Where Knowledge and Experience Meet Hardwork!!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

So ask yourself??  What does this trends repot show you.

 

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How Great It Is!!!

June 18, 2015

Finally something that makes since from the Federal Government.  Ok partially makes sense anyway.  They have decided to postpone the implementation of the new Dodd/Frank legislation from August 1, 2015 to October 1, 2015.  This should give the Industry a little more time to prepare, but also should get the Industry out of the busy season before shoving this insane legislation down the throats of hard working mortgage, real estate agents, title companies, buyers and sellers necks.  How insane has this Country become saying they are helping the buyer out, by making them wait longer, costing them more money, and generally making it harder to close their home loan because of fear of the fines this new Branch of the Government, that answers to no one, inflicts.  Let me say I understand how my for fathers were feeling toward the English.  CFPB through TRID is going to make the real estate Industry a maze of paperwork and deception.

I found a Great Article about it all.  Take a Look.

CFPB moves TRID Date to Oct. 1, 2015

The Consumer Financial Protection Bureau announced on Wednesday a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure rule until Oct. 1.

“We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks,” said CFPB Director Richard Cordray.

“We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time,” added Cordray.

The required loan documentation consists of two new forms: the Loan Estimate and the Closing Disclosure to ensure compliance.

It was originally set to go into effect on Aug. 1.

These new forms consolidate the TILA-RESPA forms and are meant to give consumers more time to review the total costs of their mortgage. The Loan Estimate is due to consumers three days after they apply for a loan, and the Closing Disclosure is due to them three days before closing. These two requirements have thrown the mortgage industry into a frenzy as they try to comply by the deadline.

The public will have an opportunity to comment on this proposal and a final decision is expected shortly thereafter.

This announcement comes shortly after huge news earlier this month, when the CFPB announced that it would allow a good-faith enforcement grace period that both the mortgage industry and a bipartisan coalition in Congress had asked for.

The enforcement grace period will be open-ended, David Stevens, chairman and CEO of the Mortgage Bankers Association, said, because Cordray wants to be flexible. At the very least, it should run through the end of 2015, Stevens said.

“We don’t know how disruptive or (not) this implementation will be. If more time is needed, he keeps that flexibility,” Stevens said. “It seems at minimum through the end of the year – and we will all be assessing this roll out.”

Then, on June 10, a large group of industry trade organizations joined Congress in pushing the CFPB to formalize that grace period for the enforcement of the TRID requirements.

Some in Congress, including U.S. Rep. Blaine Luetkemeyer, R-Mo., Chairman of the Housing and Insurance Subcommittee, and U.S. Rep. Randy Neugebauer, R-Texas, Chairman of the Financial Institutions and Consumer Credit Subcommittee, responded to the CFPB’s announcement letter regarding the TRID grace period, saying it was a good first step, but not nearly enough.

This group was then joined by a consortium of industry trade groups that threw its support behind a Congressional effort to formally define the grace period.

In a letter sent to Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, and Rep. Maxine Waters, D-Calif., the ranking member on the House Financial Services Committee, the groups urge the Financial Services Committee to pass H.R. 2213, which would provide a “reasonable hold-harmless period for enforcement” on TRID.

Brena Swanson Author

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3 strategies to move an overpriced listing

July 5, 2011

Give sellers a wake-up call

BY BERNICE ROSS, TUESDAY, JULY 5, 2011.

Inman News™

You have worked as hard as you can to get this property sold. Your marketing efforts have generated 50 showings but no offers. What can you do?

Recently, one of our private coaching clients posed this question to her coach. She had done everything within her power to place the property under contract. However, the sellers weren’t willing to lower the price any further. They had a great reason. If they dropped the price any further, they would have to bring money that they didn’t have to the closing table.

The challenge for the agent was that the sellers were blaming the failure to sell the property on her and they were angry. How would you have handled this situation?

One of the most powerful ways to address this situation is to do an update on your market statistics. For example, if there are currently 60 properties listed in their area and price range and 10 of them sell each month, this means that in order to sell their property, the sellers must be in the top 17 percent of the properties on the market each month in terms of the price, condition and the location. With this many showings and no offers, they’re continuing to fall in the bottom 83 percent that are still listed each month rather than in the 17 percent that sell.

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The next step is to explain the seller’s choices. Here’s what to say:

“Mr. and Mrs. Seller, as you can see from the current market statistics, only 17 percent of all the listings will sell this month, while 83 percent will continue to be listed next month. Furthermore, most of the properties that are selling are in like-new condition. Given these circumstances, you have the following options:

“First, you can adjust your price.

“Second, you can update the paint and the fixtures to make the house more appealing.

“Third, if you absolutely must get this price, you can take the property off the market and wait for the market to improve.

“It’s your house and it is your decision. What would you like to do?”

Furthermore, it’s often useful to either take the sellers out to look at the competition or to pull together a slide show of the interiors of the properties that went under contract or that are currently on the market. Sometimes the reason a property is not selling is that buyers can afford to be choosy. The agent who sold our last house told me that the only things that are selling where she is working right now are in like-new condition. Everything else, unless it’s way below market value, is languishing on the market.

A third way is to do a price-per-square-foot comparison. Remember to choose comparable sales where the lot size and the improvement size are within 10 percent of the seller’s property. Failure to do this will yield inaccurate results.

The next step is to make three pricing lines: one for sold listings, one for current listings, and one for expired listings. In most cases, what you will observe is that the sellers’ current price falls in the price range where most of the listings are expiring. Here’s what to say:

“Mr. and Mrs. Seller, as you can see from these three pricing lines, the properties that have gone under contract in the last 90 days have all been priced between $135 to $145 per square foot. The properties that failed to sell and currently are showing on the multiple listing service as expired listings were all priced at $153 to $160 per square foot. Your property is currently priced at $154 per square foot.

“Consequently, you have an important decision to make. You can leave your property at $154 per square foot and it will probably still be on the market, or you can reduce your price to $145 per square foot and increase the odds that it will sell. It’s your choice; what would you like to do?”

Now if the sellers are being unrealistic and you’re no longer willing to work on an overpriced listing, here’s a different approach:

“Mr. and Mrs. Seller, you have an important decision to make. You can continue to keep your property on the market at the price where it is currently listed or you can lower the price to the point where the property will sell. Clearly, since we have had 50 showings and no offers, the property is not priced where buyers today are willing to purchase it.

“It’s your choice; what would you like to do? Continue with your current price? Or reduce the price, end the two-hour commute each day, and get on with your life?”

If the sellers say they want to keep the same price, the next choice is really yours. Are you going to choose to continue to work on an overpriced listing or are you going to walk away? In many cases, your willingness to walk away can be a huge wake-up call. Here’s what to say:

“Thanks so much for the opportunity to market your home. Given the current market conditions, I would be doing you a disservice to continue to represent you on the sale of your property when the market data says that you won’t sell in this market unless you drop your price. I have cleared this with my broker and we are releasing you from the listing. I wish you the best in getting the price you want.”

If you have an overpriced listing that is not selling and the sellers aren’t willing to be realistic, walking away is probably the smartest thing that you can do. If the sellers realize you’re serious and reduce their price, it’s a win for you both. If they are unwilling to reduce their price, you have just eliminated a huge energy and money drain from your business.

Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author of the National Association of Realtors’ No. 1 best-seller, “Real Estate Dough: Your Recipe for Real Estate Success.” Hear Bernice’s five-minute daily real estate show, just named “new and notable” by iTunes, atwww.RealEstateCoachRadio.com. You can contact her atBernice@RealEstateCoach.com or @BRoss on Twitter.


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2011 seen as ‘turning point’ for home prices

July 5, 2011

MacroMarkets panelists expect little growth through 2015

BY INMAN NEWS, TUESDAY, JULY 5, 2011.

Inman News™

More than half of economists, real estate experts and investment strategists polled by MacroMarkets LLC in Junesaid they now expect national home prices to hit a bottom sometime in 2011 and remain stable through 2015.

MacroMarkets polls more than 100 housing experts with a wide range of views, including FusionIQ CEO Barry Ritholtz, Moody’s Analytics economists Mark Zandi and Celia Chen, National Association of Realtors Chief Economist Lawrence Yun, Freddie Mac Chief Economist Frank Nothaft, and Rosen Consulting Group’s Kenneth Rosen.

Panelists are asked to project the path of the Standard & Poor’s/Case-Shiller U.S. National Home Price Index over the coming five years. Robert Shiller is MacroMarkets’ chief economist and co-founder.

“A significant majority of our panelists believe that the bottom for home prices arrived in the first quarter or will arrive sometime before year-end. Despite persistent macroeconomic uncertainty and unprecedented housing market dysfunction, almost two-thirds of the panelists see the U.S. residential real estate market as at an historic turning point,” Shiller said in a statement.

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The 69 panelists forecasting a 2011 bottom predict less than 2 percent average annual growth in prices through December 2015, he said.

“A 2 percent a year home-price increase will not inspire a lot of consumer confidence. Given prevailing inflation expectations, this forecast implies virtually no change in real home values going forward,” Shiller added.

The most optimistic quartile of panelists projected, on average, a 15.3 percent price increase from year-end 2010 through 2015, while the most pessimistic quartile of panelists projected, on average, a 6 percent price drop.

“This spread is huge, representing almost $4 trillion in housing market value,” Terry Loebs, MacroMarkets managing director, said in a statement.

“This is a gut-wrenching time for market stakeholders and policymakers, because each of these scenarios is plausible.”

On average, panelists predicted a 3.52 percent drop in fourth-quarter 2011 compared to fourth-quarter 2010, followed by small increases every year through fourth-quarter 2015 when prices are expected to rise 3.47 percent on an annual basis.

Speakers at last month’s Pacific Coast Builders Conference (PCBC) predicted ahousing recovery would remain elusive until 2013 or beyond.

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Copyright 2011 Inman News

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.

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Is the Market Turning Around!!

February 12, 2011

We have noticed a tremendous up tick in the amount of calls we have been receiving on our listing inventory.  It seems that a lot of home buyers are now understanding that interest rates are rising and if they would like to get in on the historically low rates they will have to act now.  We have recently, in the last week, put two of our homes under contract that have sat for a while.  We look forward to helping as many home buyers or sellers as we can.  Remember affordability has never been better.  This will be a time when we look back and say wow and if you don’t act now you will be saying I wish I would have.  Take a few minutes to familiarize yourselves with the market by searching our website at:  www.tangiproperties.com.  For home buyers or sellers take a look at our Market Snapshot at either:  www.tangihomevalues.com or www.sttammanyhomevalues.com

I look forward to hearing from you!!!

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Save Money and the Environment by Conserving Electricity

July 21, 2010

You can save money and the environment by conserving electricity.  Here are four easy ways to start conserving electricity and saving yourself money today:

  1. Save money and the environment by conserving electricity.Don’t just turn off; unplug.  Just because an appliance or device is turned off, doesn’t mean it isn’t using electricity.  Devices that are plugged into an electrical outlet are responsible for approximately 5-10% of your monthly electrical usage.  When you are not using your hair dryer, toaster, cell phone charger, etc., turn them off and then unplug them until you use them again.
  2. Replace incandescent bulbs with CFLs.  Compact Fluorescent Lights (CFLs) lasts 10 times as long as regular incandescent light bulbs, use about 75% less electricity, can save $30 over the lifetime of the bulb and ends up paying for itself within six months.
  3. Energy Star.  While the Energy Star appliances may be a little pricier up front, over time, they actually save you money thanks to their efficient use of electricity.  An Energy Star appliance uses 10-50% less electricity than standard appliances and they help reduce air pollutants and emissions.  Also, many utility companies as well as government agencies offer rebates when you purchase a new Energy Star appliance to replace an old, outdated appliance.  Check with the salesperson and your local utility company for more info.
  4. Daytime use.  If your house is empty during the day, you should set your thermostat higher (like 85 F).  Set your programmable thermostat to go off approximately 30 minutes before you typically get home so that the house will be cooled off before you get there.  If you are home during the day, you may want to open all the windows as soon as possible to help cool off the interior of your house naturally.

By following these simple rules, you can save money and the environment by conserving electricity.  Do your part for the environment and your pocketbook. 

Yvonne Martin, The Martin Team, Let My Family Bring Your Family Home to Hammond Real Estate