Before you put your home on the market there are a few thing that you should consider.
What is the market for your home? Who would be the best agent to help you market your home? What are the positives and negative of my neighborhood that buyers will be looking at?
Understanding the buyer market and who might be a good fit for your home will help ensure that you highlight the most vital features. There are so many different kinds of buyers that might consider your home: single first-time, working couple, family, retirees or empty nesters, and a growing buyer market are women who purchase homes without spouse/partner.
Before putting your home on the market, you should take time to search for the best agent to handle your transaction. The agent can help you better understand which buyers are most likely going to be interested in your home. If there is a concern that needs addressing, an eyesore in the neighborhood or a foreclosure that’s been sitting on the block for several months; don’t be afraid to talk about it. The potential buyers are aware that it’s there (if they do their homework).
Even though you may have lived in your neighborhood for years, taking the time to drive or walk around it is a good idea. But this time do it with the same viewpoint you had when you were originally considering buying your home. It can really be a very different view. If you’re objective, you’ll see both the key selling points of the neighborhood as well as the things that may deter buyers. Seeing it all is beneficial because that’s exactly what potential buyers will see.
Making your home ready for your specific buyer market will help you not waste time marketing it to uninterested buyers. The house needs to be spotless, have great curb appeal, and evoke a warm and welcoming feeling with a few amenities. However, it is important to understand that in this economic era the home must also be basic enough to be affordable.
Milicki & Associates
Real Estate Specialists
110 Evans Mill Drive Suite 103
Dallas, GA 30157
Main: 770-874-2022
Fax: 770-874-2027
Email: info@milicki.com
www.milicki.com
Wednesday, August 26, 2009
Monday, August 24, 2009
Is The Housing Market On The Mend?
The Reports Are In.
Is The Housing Market On The Mend?
By way of several home sales reports and other economic data, (see home price appreciation report below) clear signals are being sent that the recent rout in home sales has diminished for a majority of the country . Sales of previously occupied homes rose for the third month in a row in the month of June, the National Association of Realtors reported. The marketplace has not seen this period of expansion in almost 5 years.
Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month Sales were up in all four regions of the country.
Demonstrating how the housing market is a big part of the economy's "barometer", the Dow Jones Average reached above 9,000 for the first time since early January.
In an informal and unscientific poll, Home Actions surveyed Realtors as to their perception of the turn around. Clearly, they reported, many consumers who were sitting on the fence are now engaged in the house hunting process. Low mortgage rates, combined with affordable home prices and government assistance create a nice environment.
Source: http://link.brightcove.com/services/player/bcpid30740796001?bctid=30821717001
Link NRA report
Is The Housing Market On The Mend?
By way of several home sales reports and other economic data, (see home price appreciation report below) clear signals are being sent that the recent rout in home sales has diminished for a majority of the country . Sales of previously occupied homes rose for the third month in a row in the month of June, the National Association of Realtors reported. The marketplace has not seen this period of expansion in almost 5 years.
Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month Sales were up in all four regions of the country.
Demonstrating how the housing market is a big part of the economy's "barometer", the Dow Jones Average reached above 9,000 for the first time since early January.
In an informal and unscientific poll, Home Actions surveyed Realtors as to their perception of the turn around. Clearly, they reported, many consumers who were sitting on the fence are now engaged in the house hunting process. Low mortgage rates, combined with affordable home prices and government assistance create a nice environment.
Source: http://link.brightcove.com/services/player/bcpid30740796001?bctid=30821717001
Link NRA report
How to Size Up an Investment Property
When you're evaluating a potential property investment, it's important to consider the cash flow and ROI. Here's how.
If you're thinking about buying your first real estate investment, there's good news. There are lots of good deals out there. But even if a deal looks to good to resist, you need to be sure you have a firm understanding of the two significant elements that determine profitability: cash flow and return on investment (ROI). Otherwise, it's very easy to misjudge just how profitable the property will be.
Expenses vs. Revenues
Cash flow is extremely important because it dictates whether the investment will cost you out-of-pocket money or put money back in your pocket on a monthly basis. To determine monthly cash flow, you must consider all expenses related to the property and then subtract this from the revenue being generated.
Finding the obvious expenses is pretty easy, but you may have to do some digging to uncover the not-so-obvious expenses. These line items are real and can significantly impact your monthly cash flow, so don’t leave anything out. They can include:
If you're thinking about buying your first real estate investment, there's good news. There are lots of good deals out there. But even if a deal looks to good to resist, you need to be sure you have a firm understanding of the two significant elements that determine profitability: cash flow and return on investment (ROI). Otherwise, it's very easy to misjudge just how profitable the property will be.
Expenses vs. Revenues
Cash flow is extremely important because it dictates whether the investment will cost you out-of-pocket money or put money back in your pocket on a monthly basis. To determine monthly cash flow, you must consider all expenses related to the property and then subtract this from the revenue being generated.
Finding the obvious expenses is pretty easy, but you may have to do some digging to uncover the not-so-obvious expenses. These line items are real and can significantly impact your monthly cash flow, so don’t leave anything out. They can include:
Vacancy-rate impact
- Replacement equipment
- Maintenance
- Advertising
- Tenant Repairs
- Payment Deliquencies
After you subtract all expenses from the revenue, you’ll know whether you’ll be making money or paying money. You may ask yourself: Why would I involve myself in an investment that is going to cost me out-of-pocket money? This brings us to the next important variable when evaluating your real estate investment decision: return on investment (ROI).
What Is ROI, Anyway?
First, the technical definition: the rate of return based on an initial investment that generates a cash annuity for a specified time period. Now, in plain English: ROI is basically the money going out (including your initial investment) banked against the cash flow that the property will generate in a given amount of time. This creates a net cash flow stream, and your return percent is calculated off of this figure.
Keep in mind that when compiling these cash flows, you must include all expenses related to the property, and the revenue stream must include all monetary benefits derived from it as well. ROI is heavily determined by the initial investment, because that is most likely the largest cash outlay related to the investment. All other variables held constant within the same scenario dictate that the bigger the down payment, the less return you will have on the investment.
So a new question emerges: If my return is less, why would I put a larger amount down? You must consider the trade-off between the amount of the down payment and the monthly cash flow. The more you put down, the more likely you are to have a positive cash flow — the investment paying you dividends. There is a fine balance between cash flow and ROI. Depending on your current and future financial goals, you can determine the best scenario that suits your needs. In order to attain this balance, you must have the knowledge and skills to determine the best scenario.
Whether your goal is to generate an annuity stream, prepare for retirement or create a college fund, real estate investments can be an excellent place for your money, if you do it right. With interest rates at record lows, profitable inventory and opportunities throughout the nation, it may be time for you to invest in property.
By Chris Lombardi May 2009
Friday, August 21, 2009
Housing To Drive Economic Stability in 2010
The Chicago Federal Reserve surveyed consumers in the Midwest region and concluded that there will be economic growth in 2010, but joblessness will remain a problem.
The Fed forecast predicts that real gross domestic product will grow by 3.2 percent in 2010 after a decline of 1.8 percent this year.
The 2010 recovery is likely to be driven by spending on residential properties, as well as an increase in industrial production, says William Strauss, senior economist at the Chicago Fed.
Housing starts were projected to fall to 530,000 units in 2009 from 900,000 in 2008, and to rebound to 740,000 in 2010.
Source: Reuters News, Krasny (06/08/2009)
The Fed forecast predicts that real gross domestic product will grow by 3.2 percent in 2010 after a decline of 1.8 percent this year.
The 2010 recovery is likely to be driven by spending on residential properties, as well as an increase in industrial production, says William Strauss, senior economist at the Chicago Fed.
Housing starts were projected to fall to 530,000 units in 2009 from 900,000 in 2008, and to rebound to 740,000 in 2010.
Source: Reuters News, Krasny (06/08/2009)
Friday, July 17, 2009
We Care About You and Your Family: Recent Recalls
Kolcraft Recalls 1 Million Play Yards Due to Fall Hazard
Aqua-Leisure Industries Recalls 4 million Inflatable Baby Floats Due to Drowning Hazard
Applica Consumer Products Inc. Recalls Black & Decker® Spacemaker™ Coffeemakers Due to Burn Hazard
Laceration Hazard Prompts Recall by Starbucks of Coffee Grinders
Outdoor Play Sets Sold Exclusively at Toys "R" Us Recalled by Step2® Due to Fall Hazard; Swings Can Break
Samsung Recalls to Upgrade Certain Cell Phones; Could Fail to Reach Emergency 911 in a No-Service Area
Bunn-O-Matic Recalls Single Cup Tea/Coffeemakers Due to Burn Hazard
HP Recalls Notebook Computer Batteries Due to Fire Hazard
Folding Toy Beach Chairs Recalled by Build-A-Bear Workshop Due to Laceration Hazard
Composite Decks Recalled by Louisiana-Pacific; Decks Can Deteriorate and Break, Posing Fall Hazard
Aqua-Leisure Industries Recalls 4 million Inflatable Baby Floats Due to Drowning Hazard
Applica Consumer Products Inc. Recalls Black & Decker® Spacemaker™ Coffeemakers Due to Burn Hazard
Laceration Hazard Prompts Recall by Starbucks of Coffee Grinders
Outdoor Play Sets Sold Exclusively at Toys "R" Us Recalled by Step2® Due to Fall Hazard; Swings Can Break
Samsung Recalls to Upgrade Certain Cell Phones; Could Fail to Reach Emergency 911 in a No-Service Area
Bunn-O-Matic Recalls Single Cup Tea/Coffeemakers Due to Burn Hazard
HP Recalls Notebook Computer Batteries Due to Fire Hazard
Folding Toy Beach Chairs Recalled by Build-A-Bear Workshop Due to Laceration Hazard
Composite Decks Recalled by Louisiana-Pacific; Decks Can Deteriorate and Break, Posing Fall Hazard
Thursday, July 16, 2009
PETITION: Stop the Home Valuation Code of Conduct
"Petition to stop the Home Valuation Code of Conduct.
In the past few weeks, we’ve talked about the new appraisal rules and how they’re impacting our business. Now, here’s a video explaining the situation more in-depth along with a petition to ask the House to enact an 18 month moratorium on the HVCC (in the form of House Bill 3044)
http://www.hvccpetition.com/Video.aspx"
In the past few weeks, we’ve talked about the new appraisal rules and how they’re impacting our business. Now, here’s a video explaining the situation more in-depth along with a petition to ask the House to enact an 18 month moratorium on the HVCC (in the form of House Bill 3044)
http://www.hvccpetition.com/Video.aspx"
Monday, July 13, 2009
Do You Have Above Average Credit?
"Do you Have Above-Average Credit?
Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.
1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?a) 70%b) 30%c) 50%
2. What is the top contributing factor to what makes a good credit score?a) Length of credit historyb) Amounts you owec) Payment history
3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?a) 18 yearsb) 6 yearsc) 3 years
4. After paying off a high-interest credit card, you should:a) Continue using it occasionallyb) Close the accountc) Use the full amount of available credit every month
5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?True or False
6. Rewards points on credit cards are a good deal when:a) I get cash backb) I get free airline ticketsc) I carry no balance each month
7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:a) 12 monthsb) 8 monthsc) 6 months
8. Credit bureaus that manage your personal credit report data and credit scores are a:a) Government entityb) Non-profit agencyc) Regular business corporation
9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?True or False
10. Credit scores are used by lenders mainly to: a) Tell how I compare to other consumersb) Tell if I make my payments on timec) Predict the likeliness that I will repay my loan on time
Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c
If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.
The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.
Market Issues by Jeff Mandel and Marlin Brandt
Read more: http://rismedia.com/2009-07-11/do-you-have-above-average-credit/#ixzz0L9hxN2JV&C "
Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-8742027
www.milicki.com info@milicki.com
Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.
1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?a) 70%b) 30%c) 50%
2. What is the top contributing factor to what makes a good credit score?a) Length of credit historyb) Amounts you owec) Payment history
3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?a) 18 yearsb) 6 yearsc) 3 years
4. After paying off a high-interest credit card, you should:a) Continue using it occasionallyb) Close the accountc) Use the full amount of available credit every month
5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?True or False
6. Rewards points on credit cards are a good deal when:a) I get cash backb) I get free airline ticketsc) I carry no balance each month
7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:a) 12 monthsb) 8 monthsc) 6 months
8. Credit bureaus that manage your personal credit report data and credit scores are a:a) Government entityb) Non-profit agencyc) Regular business corporation
9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?True or False
10. Credit scores are used by lenders mainly to: a) Tell how I compare to other consumersb) Tell if I make my payments on timec) Predict the likeliness that I will repay my loan on time
Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c
If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.
The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.
Market Issues by Jeff Mandel and Marlin Brandt
Read more: http://rismedia.com/2009-07-11/do-you-have-above-average-credit/#ixzz0L9hxN2JV&C "
Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-8742027
www.milicki.com info@milicki.com
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