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Data Says April Is The Best Month To List Your Home For Sale

by Elite Asset Management Team

 

The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, peaking the interest of buyers and sellers previously on the fence about making a move.

New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.

Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!

Below is a graph indicating the average score for each month of the year.

 

 

It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.

However, there is one caveat worth mentioning. When broken down by metro, realtor.com noticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!


Bottom Line

Contact a local real estate professional who can show you the market conditions in your area to get the most exposure to the buyers ready and willing to make a move!

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

Portable Storage – The Key to Successful Home Staging

by Elite Asset Management Team

 

Do your clients want to sell their houses as fast as they can for as much as they can? Realtors

and home staging experts agree: staging their home should be at the top of your client's

checklist. A big part of this process entails removing excess items and furniture. The inevitable

question becomes, “Where do my clients put their stuff?”

It’s tempting to stuff everything you own into a closet or a spare bedroom, but even a single

unorganized space could turn off buyers. For many years, the common solution to this problem

was renting a storage unit. This was not convenient, and definitely time-consuming. Home

sellers had to rent a truck, load it, unload it, and then subsequently do it all over again

when they moved to a new place.

Fortunately, there’s a better option. With a PODS portable storage & moving solution, a driver

will drop off a storage container at your client's house, and they can load it at their leisure,

without the added pressure of having to get a truck back by the end of the day.

Driving is included

Once they have loaded the container, it will get picked up and driven to a storage facility by

PODS. When they are ready for their container again, it will be dropped off at their

convenience. This means they only have to load and unload once without worrying about

renting a truck or borrowing one.

Built-in flexibility

While they're staging their home, they might want to try different furniture arrangements or add

or remove items. A portable container is convenient because of the flexibility. They can either

easily access their container in a nearby storage center, or their container can be dropped off

at their property if they need to add or retrieve items.

Most realtors recommend keeping the container at a storage facility, so your client's property

will look tidier and more spacious. This also allows potential buyers to envision themselves

more easily in their home.

Storage plus moving

If your client is moving out-of-state or long-distance, PODS can move their container to their

residence. PODS services 46 states and can even move containers to and from Hawaii and

across the Canadian border. This means your clients can store and move with one solution,

which can be very convenient to sellers.

Selling a home and moving is a stressful proposition in any circumstance. Portable storage is a

good solution to help your clients ease the burden. It also allows them to take care of two

hassles at once, storing their items and then moving them to their next home when they’re

ready.

Visit PODS.com/Remax or call (866) 556-9595 and mention Promo Code: RMAX

The Difference Having A Professional On Your Side Makes

by Elite Asset Management Team

 

In today’s fast-paced world, where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, with the addition of more information, comes more confusion.

Shows like Property Brothers, Fixer Upper and the dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.

Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in the way of achieving them. Buying and/or selling a home is definitely not something you want to DIY (Do It Yourself)!

Here are just some of the reasons you need a real estate professional in your corner:

There’s more to real estate than finding a house you like online!

There are over 111 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?

 You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

What is the home you’re buying or selling worth in today’s market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

 

Bottom Line

Today’s real estate market is highly competitive. Having an experienced, top performing professional who’s been there before to guide you through the process is a simple step that will give you a huge advantage. Make this a easy and simple process by reaching out to one of the Top Agents and Certified Residential Specialist Pete Veres at 505-362-2005.

Why You Should Not For Sale By Owner

by Elite Asset Management Team

 

In today’s market, as home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for most sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers 

According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you?

2. Results Come from the Internet 

Where did buyers find the homes they actually purchased?

  • 50% on the Internet
  • 28% from a real estate agent
  • 7% from a yard sign
  • 1% from newspapers

The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Having a strong Internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 7% over the last 20+ years.

5. You Net More Money When Using an Agent

Many homeowners believe that they can save on the real estate commission by selling on their own, but they don’t realize that the main reason buyers look at FSBOs is because they also believe that they can save on the real estate agent’s commission. The seller and buyer can’t both save the commission.

study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is that,

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

Why Houses DO NOT Sell In A Strong Market

by Elite Asset Management Team

 

As we approach the end of the year, many homeowners find themselves asking the question, “If we’re currently in a strong real estate market, why won’t my house sell?”

 

Below are the 5 most common reasons why a listing contract will expire:

1. The Price

Sometimes when the market is hot, homeowners attempt to set their listing price higher. Their hope is that a motivated buyer will be willing to pay any price for a house in their desired neighborhood! Sellers must remember, though, that in today’s market a house must be sold twice; first to the buyer and then to their bank.

 

A buyer can agree to pay the homeowner’s asking price, but after the bank conducts their appraisal, the price might need to be adjusted. The bank will only give the buyer a mortgage for the value of determined in the appraisal.

 

Sellers must also keep in mind that today’s homebuyers are well-educated. Before they look to buy a house, they have already seen many houses online. They’ve done their research on the neighborhoods they are interested in, including information on the school districts in the area.

 

They will know if your house seems overpriced and will not waste their time considering it. This is why it’s so important to make sure that your home is priced right from day one on the market!

 

2. The Condition of the House

In many areas, builders are taking advantage of the lack of inventory of homes for sale by building new houses. These newly constructed homes create competition for existing homes in the market. For this reason, many homeowners are making renovations and updates to their homes to compete with the new construction in their marketplace.

 

Most agents recommend that homeowners declutter their houses before putting them on the market. Buyers want to be able to imagine themselves living in the home instead of focusing on the current homeowner’s decor.

 

It’s important to take care of the small problems like dripping faucets and torn screens, while also remembering to remove any posters hanging in your teenager’s bedroom. Making sure your home is in perfect condition will make buyers fall in love with it and will ultimately help you get the right price for your house!

 

3. Seller’s Motivation

Why did the seller put their house on the market in the first place? Is the seller’s motivation still the same as it was when they first listed?

 

If homeowners are really motivated to sell, they will make sure their houses are both priced right and in good condition. The seller’s motivation will push them to consider all offers and help them make the right decision for their family’s future.

 

4. Marketing Plan

Having a marketing plan is important! According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. The days of looking for a newspaper ad or yard sign in your preferred neighborhood are over.

 

If you want to sell your home, you need a real estate professional who understands your local market and knows how to promote your home online. Something as simple as using pictures taken by a professional photographer can make a huge impact in advertising your home!

 

5. Lack of Communication with Your Agent

Keeping an open line of communication with your agent is crucial in getting your home sold with the least amount of hassles, in the right amount of time, and for the right price! From the beginning, establish a continuous line of communication with your agent, and make sure you review your agreement often to see if any changes need to be made. For example, adjusting the selling price!

 

Bottom Line

There are houses selling every single day because they are listed at the right price, have the right marketing plan, and are staged for the sale. If for some reason your home didn’t sell and you’re still motivated to get it sold, contact a local real estate professional who can help you figure out the reason your house isn’t selling!

Thinking Of Selling Your Home? Here’s Why You Need A Pro In Your Corner

by Elite Asset Management Team

 

 

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional.

 

Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

 

Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO):

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The termite company if there are challenges
  • The buyer’s lender if the structure of the mortgage requires the sellers’ participation
  • The appraiser if there is a question of value
  • The title company if there are challenges with certificates of occupancy (CO) or other permits
  • The town or municipality if you need to get the CO permits mentioned above
  • The buyer’s buyer in case there are challenges with the house your buyer is selling

 

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Meet with a professional in your local market to see the difference that he or she can make in easing the selling process for you.

 

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

 

Your Home Isn’t Selling? These Reasons Could Be Why.

by Elite Asset Management Team

 

 

Your home has been up for sale for quite some time. You were hopeful for a quick sale, but it didn’t happen. It has been months with no offers on the table. It can be really frustrating, but understanding why it’s not selling is a great place to start to finally getting your home sold.

So, why isn’t your home selling?

  1. Overvalue. You may have overvalued your property. Your home must be priced right at market for it to get offers. Comparing your home to similar homes that have recently sold in your neighborhood is one way to find out your home’s estimated value. A good realtor will be able to get the correct value for you. Try to avoid pricing a bit high saying we can always come down.
  2. Listing lacks presentation. A listing has to have a good description with beautiful photos of the interior and exterior. Highlight important stuff like the unique features of your home. Work with your realtor in creating an excellent presentation.
  3. Always at Showings. You should not be at home when it is shown to people. This could add pressure to the buyers and could ruin the chances of getting your home sold.
  4. Not Negotiating Properly. When selling your home, you have to be open to negotiations. One reason why home sellers don’t negotiate is that they’re too attached to their homes. Negotiate for the right price and get your home sold. Even if a low offer comes in try to make it a win, win. Any offer is a starting point.
  5. A Dirty House. Your house has to be clean. Period! A clean house is inviting and fresh. Have your home professionally cleaned to make sure potential homebuyers see your home at its best. Air fresheners are a plus but don’t over power on the scents.
  6. No Staging. Have you moved already? If you have, you have to consider staging your home. Adding furniture and decorations to your home will make it look good for potential buyers. It gives it warmth and the home will be more appealing to the buyers. It is a proven fact that staged homes sell faster and for a higher price that vacant homes.
  7. Personal Items. You have to make sure your home is free of your family photos and other personal items. The goal is to let the potential buyers see themselves living in the home.
  8. Personalized Improvements. You may have done something to your home that others may not like and this could be preventing the sale. It could be something like the color of your walls, the built in cabinets with weird carvings, and a lot more. You may want to have these adjusted to better suit the potential buyers. Ask you realtor for their assistance or even higher a professional stager.
  9. Clutter. Clutter isn’t good when selling a home as it makes the room look smaller. Potential buyers may shy away at the site of clutter so be sure to minimize or de-clutter completely.
  10. Too many repairs needed. If your home is in need of a lot of repairs, most of the buyers are going to look the other way. The best thing to do is get the small items done, especially those visible to the eye. Also, be prepared for repairs after having all the home inspections completed.
  11. Realtor. Choosing a good realtor is very important. Select a highly qualified agent with good experience, a good track record and good credentials. A good start is selecting a CRS – Certified Residential Specialist.  Also note their presentation skills when you interview. If they can’t present themselves properly, how will they present your home?

Knowing these issues can definitely set you on the right path to getting your home sold. You wouldn’t be reading this if you have a good realtor or if you didn’t need one. Get a good realtor. It really makes a huge difference. If you are local in the Greater Albuquerque Area visit www.TopAbqAgent.com

Thinking of Selling Your House On Your Own? It Could Cost You.

by Elite Asset Management Team

 

The current real estate market favors sellers and some homeowners might be thinking of selling their homes on their own which is also known as a For Sale By Owner (FSBO). They think that by going that route, they’ll be saving money by not having to get the services of a real estate agent.

Collateral Analytics made a study and found out that FSBOs don’t actually save any money and in some cases, it has cost them more by not getting the services of a real estate agent and having it listed with them.

In the study, they analyzed home sales in a variety of markets. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions:

  • “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
  • “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
  • “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

In conclusion:

  1. They achieve lower prices when they go FSBO than similar homes that are sold by realtors who use the MLS,
  2. The data suggests the average price was near 6% lower for FSBO sales of similar properties.

America’s trusted voice on money, Dave Ramsey explains:

“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”

 

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

 

Why Hire a Real Estate Professional? Here are 5 Reasons Why

by Elite Asset Management Team

 

Buying or selling a home is a big decision. It is one of the biggest decisions you’ll be making in your life. It is crucial that you know what you’re doing, but being knowledgeable may not be enough. Getting help from an experienced real estate professional can be the difference between you enjoying your new home or the equity from a sale and losing it all.

With continuous increase in mortgage rates and home prices, buying or selling on your own may not be a wise decision.

Why hire a real estate professional?

State Regulations

In each state, there are varying regulations on the contracts needed for a successful sale. It would mean a lot of paperwork. Your local real estate expert would know these regulations and make sure that everything goes smoothly.

Experience

Buying or selling a home involves a lot of steps. A real estate professional with experience can make sure that all steps are done the right way to get you in your dream home.

Negotiating

There will be a lot of negotiating in the buying or selling of a home. You need someone who can help you get what you want, someone to deal with buyers, sellers, appraisers, inspectors, etc.

What is your property or the property you want really worth?

Knowing this is very important when buying or selling a home. Your home could be worth more than you think. The home you’re buying maybe worth less than the listing price. It could mean losing thousands of dollars if you don’t know what you’re doing.

According to a study by Collateral Analytics

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Up to date

The real estate market is ever changing. You need someone who knows the past, the present and can foresee the future. A good real estate professional knows the market and would tell you what you need to hear and not what you want to hear.

Financial guru Dave Ramsey advises,

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

Thinking of Selling? It’s a Seller’s Market! Now is the Time!

by Elite Asset Management Team

 

The National final market data on the 2017 housing market is in. Greater Albuquerque Market data is soon to arrive, stand by. Now is the time to sell your home! We are back in a SELLERS MARKET!! YES!!!

2017 Housing Market

Highest level in new-home sales in a decade.

Highest level in previously owned homes sold in over a decade.

Applications to build single-family homes were at a quick pace since August 2007.

 

According to Bloomberg:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”

 

Buyer traffic was very strong this winter. It was stronger than buyer traffic in spring of last year according to the National Association of Realtors.

The only issue is that the market is low in inventory. A good and balanced market has six months’ worth of inventory and currently there is only four months’ worth of supply. There is a decrease in supply of 9.7% compared to last year.

With the inventory being low, prices are high. This is the opportune time to sell your home. Don’t wait for the supply to increase and prices to drop.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

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Photo of Elite Asset Management  Real Estate
Elite Asset Management
RE/MAX Elite
8300 Carmel Ave. NE Ste. 201
Albuquerque NM 87122
(505)362-2005
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