Compared to What?
If you have been following the real estate market from a national perspective, you may be genuinely confused. The good news is that real estate is local. It matters more what is happening in your own neighborhood than what real estate conditions are 200 or 2,000 miles away. For this reason, it is more important than ever to engage the services of an experienced agent, who can crunch the numbers for you. A "comparable market analysis," based on recently closed sales, pending sales, average times on the market, and the volume of properties for sale in a competing price range provides would-be sellers with invaluable information. It costs nothing to ask, and you may be surprised by the answer.
Posted at 10:30AM May 16, 2012 by Davis Real Estate Inc. in General | Comments[0]
Changing Perceptions
Real Estate professionals calculate asking price by performing a market analysis. Without this, clients might hold fast to the belief that their homes are worth more than the market dictates. Consequently, when left to their own devices, sellers are more likely to set too high an asking price. This common mistake may have something to do with the way the brain is hardwired. Researchers have recently uncovered an "endowment effect" in the brain that leads people to be steadfastly averse to losing a possession. As a result, they may want to sell a possession for much more than they themselves would be willing to pay. Fortunately, real estate agents remove this emotion from the home-selling process.
Posted at 09:09AM May 09, 2012 by Davis Real Estate Inc. in General | Comments[0]
Thinking of Buying a Home?
The process of buying a new home, especially if you are a first time buyer, can seem overwhelming. But you can get the information you need to know by attending our Home Buyer Seminar. With representatives from Jersey Shore State Bank and Davis Real Estate, you can learn what how to make home buying less stressful.
The seminar is May 10th at 6:30 pm at the Lock Haven Family Moose Lodge. There will be great prizes and refreshments will be served. Call 570-748-8550 to register today!
Posted at 10:07AM May 03, 2012 by Davis Real Estate Inc. in General | Comments[0]
Home Buyer Seminar - May 10!
If you are thinking of buying a home or refinancing your existing home, this seminar is for you! Davis Real Estate, Inc. and Jersey Shore State Bank are sponsoring this event to help you understand the process of buying your next home. You can learn from the professionals and make buying a home less stressful.
The seminar will be held on May 10 from 6:30-8:30 pm at the Lock Haven Family Moose Lodge, 150 S. Hanna Street, Lock Haven. Refreshments will be served and prizes will be given away, including an Amazon Kindle, a weekend stay at the Wintergreen Resort in Virginia, and a Dutch Haven Gift Certificate.
Call 570-748-8550 to register!
Posted at 10:50AM Apr 25, 2012 by Davis Real Estate Inc. in General | Comments[0]
Acting In Your Best Interests
To be successful, real estate agents must invest considerable time and energy. Thus, sellers will want to engage the services of an agent who will take an active interest in their properties. Agents of this type are quick to see and evaluate newly listed properties that their clients may find appealing. They are well integrated with other brokers, have considerable field knowledge, and make themselves readily available to respond to inquiries with pertinent information and qualifying questions. Real estate agents such as these are likely to have enviable track records that reflect their dedication and thorough enjoyment of their work. The more faith you place in an agent, the better job he or she can do for you.
Posted at 11:26AM Apr 19, 2012 by Davis Real Estate Inc. in General | Comments[0]
A Sensible Approach
An experienced and knowledgeable car dealer once offered the advice that the first thing he did when he found a vehicle in which he was interested was to open the door and smell the interior. If he detected the odor of cigarette smoke, he passed on the car no matter how otherwise desirable it might be. The point is that prospective buyers use their senses to evaluate a property. If it looks good on the outside, smells good on the inside, and is not in a noisy neighborhood, prospective buyers will take a closer look. However, if a house has peeling pain or pet odors, no amount of persuasion is likely to get buyers interested. Sellers must appeal to buyers' sensibilities.
Posted at 10:12AM Apr 12, 2012 by Davis Real Estate Inc. in General | Comments[0]
Green Space
Sellers should not underestimate the value of a well-kept lawn. One of the primary factors that prospective buyers carefully assess is the size and condition of the front lawn. Even more important in the eyes of most buyers is the backyard. Nearly every home tour concludes its visit of the ground floor living space with a look at the backyard. By stepping outside, prospective buyers have a chance to envision their kids on swing sets or themselves relaxing in hammocks and chaises. Every yard should feature a flat section of lawn, where the kids can kick soccer balls, throw a softball around, or play a game of badminton or croquet. A beautiful yard is part of nearly every buyer's vision.
Posted at 08:34AM Apr 04, 2012 by Davis Real Estate Inc. in General | Comments[0]
Coordinated Effort
Real estate agents are witness to numerous unfortunate instances in which homebuyers have locked into an interest rate, but are unable to close their loans because sellers find themselves in the position of still finalizing their own deals. There are also a number of other possibilities that can cause delays, including scheduling conflicts, title and homeowner's insurance problems, and even personal conflicts. The fact is that locked-in loans expire on purchases due to a lack of coordination and communication among the parties involved. In such cases, an experienced real estate agent can anticipate and circumvent potential problems by coordinating the terms of the buyer's and seller's contracts. A detail-oriented real estate professional leaves nothing to chance.
Posted at 10:26AM Mar 29, 2012 by Davis Real Estate Inc. in General | Comments[0]
Entertaining Offers
It is sometimes better to entertain a slightly lower offer from a prospective buyer with mortgage pre-approval than a higher offer from someone with less clearly defined financial backing. That is to say, an offer to purchase a home should not necessarily be considered to be a good one merely on the basis of price alone. A valuable service that experienced real estate agents provide to sellers is their ability to determine the validity of an offer by assessing the prospective buyer's likelihood of qualifying for financing. This can spell the difference between passing on a shaky offer up front and risking seeing the deal fall through later. This guidance is especially important in today's atmosphere of tightened credit.
Posted at 09:28AM Mar 21, 2012 by Davis Real Estate Inc. in General | Comments[0]
Owning Property Together
These days, it is common for two unrelated individuals to purchase property together. The question then arises as to how joint ownership can be legally established. The answer is that unmarried couples are generally limited to "tenancy with the right of survivorship" and "tenancy in common". With "tenancy with the right of survivorship", the property is owned 50/50 and, upon the death of one, ownership of the property automatically passes to the survivor. While an owner can sell or give away his or her half, the half ownership cannot be bequeathed to someone else. The more flexible "tenancy in common" allows ownership of unequal shares and the ability to sell and walk away with the contributed percentage.
Posted at 11:27AM Mar 13, 2012 by Davis Real Estate Inc. in General | Comments[0]
Getting Off on the Right Foot
Setting the right price for a home going on the market has never been a more critical part of a successful home-selling strategy. In close consultation with their agents, sellers should base their asking prices on the average price of what comparable properties recently sold for in their neighborhoods and surrounding areas. Sellers who insist on setting their asking prices on the basis of an arbitrary profit objective are likely to be disappointed. Instead of coming up with an objective market-based figure, they calculate their asking prices on the basis of emotion and expectation. Those who follow the unreasonable strategy of wanting to "clear" a certain dollar amount may well be setting their prices too high. An overpriced listing will likely languish on the market unnnecessarily duing the first days and weeks, the most critical time of a listing period.
Posted at 09:48AM Mar 06, 2012 by Davis Real Estate Inc. in General | Comments[0]
House Filled with Possibilities
There are certain circumstances, such as a job transfer, that dictate that sellers must vacate their homes while their property is on the market. When this happens, sellers must take steps to ensure that their properties will continue to show advantageously. As well-intentioned as a friend, neighbor or family member may be in pledging to watch the property for the absentee seller, the responsibility is often too demanding for most. To avoid this problem, absentee sellers are encouraged to enlist the help of their real estate agents. One of the first things that absentee sellers are advised to do is to keep their homes furnished because prospective buyers often have difficulty warming to an empty house.
Posted at 11:43AM Feb 29, 2012 by Davis Real Estate Inc. in General | Comments[0]
Looking Lovely
Sellers who are readying their homes for sale should not overlook the landscaping. While new paint no doubt increases the curb appeal of homes in the minds of prospective buyers, mature trees and well-maintained grounds can have an even greater impact. In fact, beautiful plantings can actually add 15 percent to the property value of a home. One need only take a look at a tree-shaded front porch to see the "homey" feeling that the leafy limbs bring to a property. It may be impossible to plan a full-grown tree or shrub where none previously existed, but it is entirely within sellers' ability to make the most of the landscape they already have.
Posted at 11:06AM Feb 15, 2012 by Davis Real Estate Inc. in General | Comments[0]
Your Local Forecast
The real estate market is somewhat similar to the weather. It seldom, if ever, happens that one gigantic weather pattern engulfs the entire nation. While it may be raining on the other side of the country or in several isolated areas, it might be sunny in your neighborhood. Similarly, while national media constantly discuss the national housing downturn, not all areas are affected similarly. The real estate climate on the coasts may be different from that of the nation's interior, and there are differences between metropolitan, suburban and rural areas. In short, all real estate is local. Ask a real estate professional about your local conditions.
Posted at 09:10AM Feb 08, 2012 by Davis Real Estate Inc. in General | Comments[0]
Seeking Approval
Even before banks and other financial institutions became more restrictive in their lending practices, it was a good idea for buyers to get pre-approved for a loan; now, it is imperative. In this respect, an experienced real estate agent may be as helpful in securing financing as in helping to find a desirable property. One thing is for sure - without the money to purchase a home, there will be no sale. With this in mind, buyers will want to get all the necessary paperwork done prior to making an offer on a home. They will also want to check their credit scores and have a clear picture of all the costs associated with owning the home of their dreams.
Posted at 09:10AM Feb 02, 2012 by Davis Real Estate Inc. in General | Comments[0]
