House Flipping Opportunities are Back!

After the market declined, many investors found it very difficult to find flipping opportunities. Since home values had reduced by over 50% in many markets, investors were forced to rent their properties until the right time to sell returned.

ATTENTION Investors, release the property managers and hire me as your Realtor. Resale property inventory is extremely low and eager homes buyers are jumping at the chance to snatch turn-key homes within the first few days of being listed. Not only can you sell your rental inventory, there is still an opportunity to purchase distressed, fixer uppers at low price points, and remodel to sell at higher price points. Yes, that scenario I just explained is called Flipping.

Flipping is back. Only for a limited time, so take advantage while it lasts.

Hire a Buyer’s Agent Even for New Construction

 

I love receiving referrals from my past clients. I often receive phone calls from potential clients stating, “my friend spoke highly of you, he/she recommended you as a Realtor to help us with our home search.” Elated that my clients continue to think and speak of me when it comes to Real Estate, is not only a compliment, but an indicator that I have exceeded my client’s expectations.

This call was very similar. My past client gave me a ring, which I thought was a “just touching base” phone call. However, as it turned out, one of his co-workers were stressing about getting into a new place by December. He said my Realtor will take care of you. Within the same phone call, my past client asked me to hold on. Not knowing what to expect, I heard another person speaking on the phone. Hello she said. My co-worker spoke highly of you and said I should speak to you about helping me find a home. She said, “I looked at resales but wanted to take advantage of the new construction incentives while they last”. She then explained to me that she has worked with another Realtor that was recommended, but she was not very response and that she has been to a few builders already to look into the option of new construction.

Armed with the information I needed, I asked that she gave me a couple days to do some research and see what I can come up with. I emailed her two options that would be best. An option A and option B. She loved both, but thought option A would be best. We visited the site and she loved the new construction community. After meeting with her, she got a second opinion from family members then contacted me the next day and said that she wanted to sign a contract. I was able to work with the builder to get my client a great down payment to get the process started. After a month of frustration, I was able to turn it around for this hopeful buyer in just two days. This is why it’s best to hire a Buyer’s Agent even when considering new construction homes. They can narrow in on your needs and provide the best options that meet your needs, saving you time and frustration. Contact me today to begin your home search.

Renters say Homeownership a Top Priority

WASHINGTON – July 26, 2013 – Americans overwhelmingly believe homeownership is a good financial decision, and a majority of renters say homeownership is one of their highest priorities for the future, according to the National Association of Realtors® (NAR)’s 2013 National Housing Pulse Survey.

The survey found that renters are thinking more about purchasing a home now than they have in past years, and the number of people who say they prefer renting has declined.
“Due to high housing affordability and today’s interest rates it makes sense for people to consider homeownership over renting,” says NAR President Gary Thomas. “In fact, in many parts of the country it’s cheaper to own a home than to rent one.”

The survey, which measures consumers’ attitudes and concerns about housing opportunities, found eight in 10 Americans believe buying a home is a good financial decision and more than two-thirds (68 percent) said now is a good time to buy a home.
Since the last survey in 2011, more renters are now thinking about purchasing a home, up from 25 percent to 36 percent, while those who say they prefer to rent dropped from 31 percent to 25 percent. Half of renters say that eventually owning a home is one of their highest personal priorities, up from 42 percent to 51 percent.

Attitudes toward the housing market have also improved over the years. Nearly four in 10 Americans (38 percent) identified an increase in activity within their local housing market in the past year, compared to just 22 percent who reported a slowdown in activity. In 2011, some 51 percent reported a slowdown in activity. There was also less concern than in the past about the drop in home values; a majority said housing prices in their area are more expensive than a year ago.

In addition to improved attitudes about the housing market, respondents also showed an improved outlook about the national economy. Just under half (48 percent) said job layoffs and unemployment are a big problem, down from 61 percent in 2011. The concern over foreclosures showed a steep decline from 2011 when 47 percent characterized distressed properties as “very” or a “fairly big problem”; today only 29 percent say it’s a problem.

For many Americans, the perceived obstacles to homeownership have remained unchanged over the years: low wages, student loan debt, and little savings for a down payment and closing costs. Respondents across the board – young and old, college graduates and non-graduates – consider student loan debt to be a large obstacle.

“Buyers with student loan debt may find it difficult to access mortgage credit, as well as save for a down payment,” says Thomas. “Pending mortgage finance regulations requiring higher down payments could also contribute to the already tight lending environment. Realtors are working with regulators to address this issue.”

When asked why homeownership is important, respondents’ top reasons underscored basic American values and freedoms: building equity, a stable and safe environment, and the freedom to choose where to live.

Those reasons have remained virtually unchanged since 2011, though they vary slightly according to demographics. The top scoring reason for African-Americans and Hispanics was that homeownership provides stability and a safe environment; women also placed more emphasis on environmental factors than men. Non-college graduates placed stronger emphasis on public schools, owning a home before retirement, and living in a safe and stable environment.

American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program conduct the 2013 National Housing Pulse Survey. The telephone survey polled 2,000 adults nationwide and has a margin of error of plus or minus 2.2 percentage points.

More info about Housing Pulse Survey can be found on NAR’s website.
© 2013 Florida Realtors®