House Hasn’t Sold Yet? Take Another Look at the Price

Wednesday November 4th, 2015Monday November 2nd, 2015 simplify For Sellers, Pricing

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand remains strong going into the winter. Many real estate professionals are reporting that multiple offers are occurring regularly and listings are actually selling above listing price. What about your house?

If your house hasn’t sold, it is probably the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. (See Chart)

Bottom Line

The housing market is hot. If you are not seeing results you want, sit down with your agent and revisit the pricing conversation.

Contact Jodi Toebe RE/MAX Realty Center to Price your home right the first time!

Reasons You Should Sell Now!

Reasons You Should Sell Now!

Monday July 27th, 2015Thursday July 30th, 2015 simplify Featured, For Sellers

As the temperature continues to rise, buyers are coming out ready to purchase their dream home. Here are five reasons that you should list your house for sale now.

1. Strong Buyer Demand

Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are significantly more prospective purchasers currently looking at homes than at any point in the last two years!
These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

The National Association of Realtors reported last week that housing supply has slipped to a 5.0-month supply. This is still under the 6-month supply that is needed for a normal housing market.
This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices.
There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. Home Prices Are Skyrocketing

Daren Blomquist, President of RealtyTrac, recently shared insights into why “2015 is a Great Year to Sell” by saying:

"So far in 2015, [sellers] are realizing the biggest gains in home price appreciation since 2007. In June, sellers sold for above estimated market value on average for the first time in nearly two years."

One major factor driving prices up is the lack of inventory available for the amount of buyers in the market. Often buyers, who find a home that they would like to make an offer on, are met with the reality that they aren’t the only ones interested.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now.
Prices are projected to appreciate by over 19.4% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate near 4% right now.
Rates are projected to increase by a full percentage point over the next year according to Freddie Mac.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.  Contact Jodi Toebe RE/MAX Realty Center to sell your home for the most amount of money in the quickest time possible!

8 Fun Indoor Activities for Kids

Tue, January 26, 2016

For those days when even the snow angels are shivering, it’s good to have an emergency list of indoor boredom-busting activities for kids other than the TV. See if any of these activities might appeal to your little ones.

1. Hit the “lab”
Try a few experiments. You can build a classic sparkly volcano, with baking soda, vinegar and glitter in a vase, or write secret messages with invisible ink made from lemon juice. Many more ideas are available online.

2. Ready, set, go!
Incorporate furniture, cardboard boxes and jump ropes in obstacle courses kids can run against the clock.

3. Strike out
Hardwood floors are perfect for indoor bowling. Stack plastic cups in a pyramid and try to bowl them over with rolled up socks.

4. Go old school
Have kids create cards or write letters to out-of-town friends and relatives — or even public figures they admire!

5. Go hunting
Create a scavenger hunts for kids. You can find some ideas here.


6. DIY cooking/baking show
Kids love to get creative in the kitchen, especially with foods that can be extensively “decorated” such as pizzas and cupcakes. Add another level of fun by recording the process and splicing together a mini-cooking show for relatives.

7. Color me busy
There are a zillion types of coloring books available for kids. Lately, coloring books have also grown in popularity with stressed-out adults. Sit down with your kids and try to stay in the lines — or not!

8. Get up on the dance floor
Move the furniture and clear space for the kids to boogie down. Music services like Pandora can help you find just the right tunes to get kids moving.

Looking for a home with more room for your kids to play? Let a RE/MAX agent help. Start here: Contact Jodi Toebe Remax Realty Center.

Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner

Tuesday December 15th, 2015Monday December 14th, 2015 simplify For Sellers, FSBO's

In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.
Here are five of those reasons:

1. 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 interest 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

2. Exposure to Prospective Purchasers

Recent studies have shown that 89% of buyers search online for a home. That is in comparison to only 20% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

• 44% on the internet
• 33% from a Real Estate Agent
• 9% from a yard sign
• 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

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 8% over the last 20+ years.
The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells for $210,000 while the typical house sold by an agent sells for $249,000. This doesn’t mean that an agent can get $39,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, let's get together and discuss the many benefits of using a local real estate expert!

If you are looking to sell your home in Southeastern, WI call Jodi Toebe RE/MAX Realty Center for a FREE CMA /Market analysis of your home and to discuss what puts us above all others!  Call 262-352-0484

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What You Really Need To Qualify For A Mortgage

 

 

What You Really Need To Qualify For A Mortgage

Tuesday December 8th, 2015Tuesday December 8th, 2015 simplify Down Payments, For Buyers

A recent survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 5% or less.
Below are the results of a Digital Risk survey done on Millennials who recently purchased a home.

2. FICO Scores

The Ipsos survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.
Below are the numbers from the latest Ellie Mae report.

Bottom Line

If you are a prospective purchaser who is ‘ready’ and ‘willing’ to buy but not sure if you are also ‘able,’ let's get together and discuss your options. To Discuss your options Contact Jodi Toebe Total Mortgage Services NMLS#251066

January National Housing Report: What the Numbers Mean for You

Sun, January 31, 2016

After two consecutive months with falling home sales, December roared back with 6.1% more sales than one year ago. On a month-over-month basis, December sales were much higher with an increase of 22.5% over November. In all of 2015, nine months saw home sales higher than the same month one year ago.

What it means for buyers:
The market could be heating back up. Winter months may be a good time to buy before the traditionally more competitive summer months. An experienced agent can help you decide the best next move for your personal situation.

What it means for sellers:
The average home was on the market in December for almost a week less than a year ago. This could be good news if you’re looking to move fast, but may cause a little uncertainty if you need to linger in your current home. An agent can help you work out an agreement with buyers with a timeline that works for everyone.

Find out more about the housing market in December with the infographic below:

Looking to buy or sell? Work with an agent to breakdown what these numbers mean for your market. You can find an experienced Re/max Agent by contacting Jodi Toebe!