A new study says home owners won’t see their utility bills drop until they’ve conducted four or more energy upgrades. Here are projects that will give you the greatest bang for your energy buck. Read
Visit houselogic.com for more articles like this.
Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
Filed under Home Run Rants, Home Run Real Estate, Other Topics, Uncategorized
The IRS has spent 8 years coming up with the following changes to the tax codes for rental / investment properties. These new regulations will make it much more difficult to make a profit on rental properties and much more difficult to shelter income taxes. If you are an investor or thinking about becoming an investor you need to click on the link below to learn more.
Before you put your home up for sale, use the right comparable sales to find the perfect price. Read
Visit houselogic.com for more articles like this.
Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.
It also includes press releases with charts and videos, key market indicators and real estate sales and price statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.
Just click on the badge below to view this interactive housing newsletter.
If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report.
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
Have a great day,
Lloyd Reed
Home Run Real Estate
5500 Northland Dr. NE Suite A Grand Rapids
MI 49525
616-217-4166 1004 | 616-889-7662
Email:LloydReed@grar.com
If you've ever wondered why a home has been on the market for "years" and did not sell or why your home did not sell when it was listed more than likely it is due to one of these three reasons. Watch this video to find out the three top reasons why a home does not sell and please leave a comment to let us know your thoughts.
I am often asked by potential Grand Rapids Home Buyers who call on one of my listings or contact me in some other way why they should consider hiring a buyer’s agent and how can a buyer’s agent benefit them. My first inclination it to keep it short and sweet and say “The seller has an agent representing them, don’t you think you should have someone representing you?” But I have found that many buyers still just don’t understand. So here are a few reasons why I believe you should have a buyer’s agent.
First, in most cases the buyer does not have to pay the buyer’s agent out of her own pocket. Most times the buyer’s agent commission is paid by the seller (or their seller’s agent to be more precise). Now let’s be serious, we all know that the seller took into account the commissions before setting the price so you could say that the buyer is paying the commission as part of the purchase price. But, the bottom line is that this money for the commission is not an additional cost to the buyer. So, if the buyer does not have to pay for representation out of her pocket, why wouldn’t she want representation? In fact at Home Run Real Estate we have a Buy For Free Guarantee that states that the buyer will never pay us one red cent for our buyer agency services.
Second, many buyer mistakenly think that if they just work with the listing agent they will get a better deal because the seller I believe most buyers will pay more because that listing agent, because he represents the seller and has a legal obligation to the seller, cannot tell a buyer if the home is overpriced or point out minor problems with the home that could cost the buyer money. He also can’t encourage the buyer to ask the seller to pay for closing costs or ask the seller for a home warranty or anything else.
Third, a buyer’s agent’s legal obligations are to the buyer. The buyer’s agent has a duty to represent the buyer’s best interests. Those best interests could be to tell a buyer that the home is overpriced. To tell the buyer that the home not having a basement could severely affect the buyer’s ability to sell the home in the future. To tell the buyer that there could be a Wal-Mart built next door. To tell the buyer that the roof should be inspected because it looks bad. An on and on and on.
Of course a buyer’s agent does a lot more than the activities outlined above but think about it. Just the things listed above are more than worth the cost of a buyer’s agent which is generally zero cost to the buyer.
ABOUT THE AUTHOR:
Lloyd Reed has been a licensed Real Estate Agent in the Grand Rapids and West Michigan areas for 10+ years and loves to work with home buyers. He is the broker and owner of Home Run Real Estate and the primary broker for both the Inner City Christian Federation and Habitat For Humanity Of Kent County. Lloyd, along with his team of top real estate consultants specializes in helping first time home buyers, HUD home buyers, motivated home sellers and real estate investors accomplish their real estate goals. His team consistently ranks in the top 10% of all real estate agents nationwide in both real estate sales and real estate transactions. For more information on Lloyd Reed and Home Run Real Estate’s All Star Services you can visit www.HomeRun-GR.com or call 616-217-4166. Home Run Real Estate is located at 5500 Northland Dr. NE Suite A, Grand Rapids, Mi 49525.
Newer Belding Home For Sale. 4-5 Bedrooms, Built in 2007, Pole Barn, Attached 2 Stall Garage, Over 2300 Square feet of Living Space. For more information of for a private viewing call Lloyd Reed at 616-889-7662 or 616-217-4166 x 1004.
Almost every time that I speak with a seller and tell him that he is not hiring me to sell his home he looks as me with a dumbfounded look. I then explain that I cannot sign the purchase agreement on his behalf, I cannot make him accept a particular price, I cannot decide if he should agree to include the range, refrigerator, etc. Generally his next questions it “Well then what am I hiring you for?” and this is a very good question and one you should be asking yourself if you are considering hiring a real estate agent to help you sell your home.
I believe a real estate listing agents job really boils down to three parts…marketing the home to the public, giving the seller the best possible information so that he can make the most well-informed decision, and managing the transaction through to close once there is an accepted offer. So lets dig into these three parts a little bit.
I believe my first job is to market the home to as many people as possible in the shortest amount of time to generate the most number of views online, inquiries by phone, calls to the real estate hotline, etc. which will hopefully lead to a good amount of buyers who want to view the home which will hopefully lead to offers to purchase. I know this simplifies everything a lot but I do believe this is one of the most important reasons a seller should hire a real estate agent. If you think about it, my job is to market the home in every way possible to show a seller that is he doesn’t have an acceptable offer on his home, there are really only two reasons why. Either the home is in poor condition or more than likely, the home is priced too high.
My second job is to make sure the seller has all of the necessary information to make the most well-informed decision for his family. Not only does this include showing comparable sales in the area and the current competition but it also includes educating the seller on different loan types, interpreting a particular buyer’s preapproval letter, interpreting any clauses added to a purchase agreement by a buyer, providing an estimated seller expense sheet, and interpreting any title issues, local zoning issues and more.
My third job is to manage the transaction through to close once there is an accepted offer. Contrary to popular belief, we don’t just get a signed contract, hand it off to the lender and wait for a closing. Some of the things we do include ordering title work and making sure that title work is done properly, setting up inspection times and dates, helping lenders get the necessary paperwork from a buyer, ordering sidewalk inspection in the city of Grand Rapids, setting up appraisals, setting up well and septic inspections, dealing with any issues that might arise with the buyers financing and inspections, setting up closing dates, helping buyers arrange home owners insurances and moving services and the list goes on.
So, in summary, I can’t sell your house but I can generate interest in your home from potential buyers, I can give you good information to help you feel good about your decisions and I can help make the entire process a whole lot easier. After all isn’t all you really want is a listing agent who can help you get the most money, in the shortest time possible with the fewest hassles?
About The Author:
Lloyd Reed has been a licensed Real Estate Agent in the Grand Rapids and West Michigan areas for 10+ years and loves to work with HUD home buyers. He is the broker and owner of Home Run Real Estate and the primary broker for both the Inner City Christian Federation and Habitat For Humanity Of Kent County. Lloyd, along with his team of top real estate consultants specializes in helping first time home buyers, HUD home buyers, motivated home sellers and real estate investors accomplish their real estate goals. His team consistently ranks in the top 10% of all real estate agents nationwide in both real estate sales and real estate transactions. For more information on Lloyd Reed and Home Run Real Estate’s All Star Services you can visit www.HomeRun-GR.com or call 616-217-4166. Home Run Real Estate is located at 5500 Northland Dr. NE Suite A, Grand Rapids, Mi 49525.
Every day I turn on the television and hear one so-called real estate economist expert say home prices are going to go up for this reason or that reason and another saying they are going to go down for this reason and that reason. these guys are literally on the same channel most likely on the same program and have the same data. This just proves a point: No one knows what home prices are going to do in the near term. So what could cause home prices to go down and what could cause home prices to go up? Let’s see.
If home prices go down it could be caused by several factors. There could be more job loss. Interest rates could increase causing homebuyers to have to pay the same amount of money for a lower priced home. Banks could yet again increase minimum credit scores required or minimum down payments required to get a home loan meaning many people who could get a home today may not be able to in the future. More and more homeowners could choose to walk away from their homes and allow them to go into foreclosure causing neighborhood values to drop even more. More and more people could just choose to be renters rather than becoming homebuyers meaning there are less buyers competing for the homes that are for sale. Now let’s look at what could cause home values to increase.
On the flip side home price increases could also occur for many reasons. A current company could announce that it is adding several hundred or thousand new jobs. A company could come in to an area an announce it is going to open a new factory, service center or ??? again resulting in adding several hundred or thousand new jobs. Interest rates could go down meaning the person that is approved for $100,000 today may be able to be approved for $120,000 when rates drop. Banks could decrease the minimum credit scores or downpayments required to get a mortgage. The government could announce another home buyer tax credit that could jolt many would be home buyers off the fence. And I am sure there are many more reasons why home values could drop and rise.
So the answer to the question posed int he title of this article, what are home prices really going to do in the next 5 years, is no one really knows and only time will tell. If I could answer that question I certainly would not need to sell real estate for a living. And, if anyone out there tells you they know what is going to happen, run because it is impossible to know.
My two cents are worth, well, 2 cents. I believe that home values cannot increase much until we generate more jobs. Lets’s face it, if you don’t have a job, you can’t get approved for a mortgage. If you don’t have a job, even if you do have a significant amount of money stashed away, you probably do not want to gamble it on a home at this time. Jobs, jobs, jobs. That is what everyone needs to be concentrating on, not consumer confidence, not interest rates, not government subsidies. So there you have it, my 2 cents. Thanks for visiting.
Lloyd Reed
Broker / Owner
Home Run Real Estate
616-217-4166
