Archive for June, 2011

What Today’s Buyer is Looking For

Today’s real estate buyer is a shopper and has in mind exactly what they are looking for in a home, therefore your duty as a seller is to make sure your home is precisely the home of their dreams. Buyers today are interested in simplifying their lives and want a home that reflects this as well. They are looking for clean, stream lined homes, with the basic necessities, nothing that screams that the seller went overboard. They want a home that is an excellent investment and a good value. A good value to a buyer means that they will be firm negotiators and will try to get more bang for their buck. Buyers are known to ask for the moon, and appreciate incentives in which sellers offer such as paying closing costs, crediting a buyer at closing for certain repairs and even a paint allowance. They are not interested in fixer uppers, as most buyers in today’s market just don’t have the money to shell out in making major repairs or tackling huge remodeling projects; they want a house to be move in ready and in superior condition.

Buyers can also be pretty picky. They don’t want to see a home that is cluttered with an explosion of furniture and personal belongings. Homes that are seething with excess stuff make it impossible for a buyer to envision themselves and their belongings within the home. Decluttering, depersonalizing, and detaching yourself from your home makes them see it as the potential of it being their home. Buyers also know the importance of nature and are environmentally conscious, and want to see additional living spaces outside such as patios and decks, outdoor kitchens and living rooms. In addition to this, today’s buyer is a ‘green’ buyer and wants appliances such as washers, dryers, refrigerators, dishwashers, HVAC units and windows that are energy efficient. These buyers are economical, savvy and quite practical.

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Posted by: Tim Ryan on June 30th, 2011 under Buying or Selling a Home

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HomeGain Releases 2nd Quarter 2011 Florida Home Values Survey Results

Forty-three percent of Florida real estate professionals and homeowners think home prices will decline over the next six months; 54% of Florida agents and brokers strongly disapprove of Obama’s performance as President.

HomeGain, one of the first companies to provide free instant home valuations online, released the results of our second quarter 2011 nationwide home values survey of over of over 750 HomeGain current and former members and more than 2600 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this real estate blog we published the 2nd quarter 2011 national results as well as the complete 2nd quarter 2011 regional results, including commentary from real estate agents and brokers.

Earlier we  released the California home values survey and Texas home values survey data. Today we are releasing the Texas home values survey data. In the coming days we will be releasing home values survey data from  Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Set forth below is the second quarter 2011 real estate professional and home owner Florida home prices survey data along with the first quarter 2011 real estate professional survey data and the second quarter 2011 national home prices survey data: (click on each question to see complete results):

florida-crocodile-sign

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?

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Posted by: Louis Cammarosano on June 28th, 2011 under Home Prices, Home Values, Home Values Surveys, HomeGain Market Data, Polls

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Real Estate Radio With Louis Cammarosano 6/13/11

On Monday June 6, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (24:01)

Louis and Ryan discuss HomeGain members’ recent success in using HomeGain’s Agent Evaluator, noting one agent has made $2 million using HomeGain and over 1000 agents have made over $50,000 using HomeGain. Louis explains how the HomeGain Agent Evaluator program can benefit home buyers and sellers. Louis notes that 70% of consumers select the first agent they meet and that is a mistake. HomeGain’s can help home buyers and sellers compare realtor so that they pick the right one for their real estate needs. Ryan and Louis discuss the poor employment numbers that were released last week. Louis and Ryan discuss the likelihood of QE3. Louis notes that the Fed’s policy is a predicable- they follow Keynesian economics which involves printing money and notes that fixing a debt problem with more debt is not a viable solution. Ryan asks what will it take for private money to get back into the market at the current low rates. Louis notes that there is perhaps risk in US Treasuries especially given the low rates of return. Louis notes that taking out a low interest loan now may be a great deal given the anticipated increase in interest rates. Ryan noted that the Fed’s recent read on the economy was that there would be a decelerating recovery and that consumer spending was mixed as a result of rising commodities and gas and noted widespread weakness in housing. Ryan notes that home building industry can drive the US economy.Louis notes that the Fed anticipates that the economy will pick up in the second quarter. Louis postulates that when it doesn’t the Fed will claim they need to do something like QE3 due to unexpected weakness in the economy. Louis notes that the new home industry creates a lot of economic activity and contrasts the economic activity engendered by the existing home market. Ryan and Louis discuss whether the lack of new home building will create a housing shortage in the future.

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Posted by: Louis Cammarosano on June 26th, 2011 under Louis Cammarosano on Real Estate Radio

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HomeGain Releases 2nd Quarter 2011 Texas Home Values Survey Results

Three quarters of Texas real estate professionals and homeowners expect home prices to rise or stay the same in the coming six months

HomeGain, one of the first companies to provide free instant home valuations online, released the results of our second quarter 2011 nationwide home values survey of over of over 750 HomeGain current and former members and more than 2600 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this real estate blog we published the 2nd quarter 2011 national results as well as the complete 2nd quarter 2011 regional results, including commentary from real estate agents and brokers.

Yesterday we  released the California home values survey data. Today we are releasing the Texas home values survey data. In the coming days we will be releasing home values survey data from  Florida, Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Set forth below is the second quarter 2011 real estate professional and home owner Texas home prices survey data along with the first quarter 2011 real estate professional survey data and the second quarter 2011 national home prices survey data: (click on each question to see complete results):

texas-state1

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?

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Posted by: Louis Cammarosano on June 26th, 2011 under Home Prices, Home Values, Home Values Surveys, HomeGain Market Data

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Real Estate Radio With Louis Cammarosano – 6/6/11

On Monday June 6, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (24:03)

Ryan and Louis discuss the prior week’s economic events. Mortgage rates hit record lows last week. Louis and Ryan discuss the value of taking out a mortgage now  to protect against future interest rate hikes and inflation. Ryan and Louis discuss 4.2% decline in home prices in the first quarter as indicated by the Case Schiller index. Ryan notes that the Case Schiller index leaves out condo, coops and new construction and therefore may give a false reading on the direction of home prices. Louis notes that the Case Schiller index does not give an accurate snap shot of current market conditions as it dates back to the prior quarter. Louis references the second quarter 2011 HomeGain national home values survey and provides the preliminary results with 57% of real estate professionals thinking that home values would decline in the coming six months and 42% of homeowners expect home to decline in the coming six months. Louis mentions that he believes home prices will remain down until the inventory of short sales and foreclosures are cleared from the market. Ryan postulates that home prices are down due to incessant media focus on shadow inventory and distressed sales that cast a negative light on the housing market. Louis agrees that consumer sentiment does play a role in home prices and that the media can influence consumer sentiment. Louis notes that the underlying fundamentals are what really drives the market, not the media, claiming the market speaks louder than the media. Ryan notes that four out of five of the richest counties in the United States are in the Washington D.C. area. Louis notes that there is a confluence of positive facts that keep the housing market strong in the D.C. metro area- government spending, government contractors, government workers with good job security. Ryan noted that the ADP survey showed only 38,000 private sector jobs were created vs. expectations of 170,000. Ryan and Louis discuss 15 year mortgages and discusses the factors that go into setting mortgage rates based on the borrower’s profile and the type of home being purchased. Ryan and Louis note the job report that showed only 54,000 new jobs and that the unemployment rate rose from 9.0 to 9.1 % and that there were  35,000 government jobs lost, mostly in local in state governments. Louis notes that the states will have to continue to cut employees and that the Federal government will eventually have to do the same. Ryan notes a recent interview with Greenspan where he notes all that is wrong with the current economy and where it is headed. Louis remarks that the guy who lit the fire is complaining about the blaze and how Greenspan refuses to take any blame for current economic conditions. Louis predicts that at the upcoming Fed meeting there will be no change in monetary policy and that their policy will be designed to keep interest rates low.

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Posted by: Louis Cammarosano on June 26th, 2011 under HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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HomeGain Releases 2nd Quarter 2011 California Home Values Survey Results

Fifty percent of California real estate professionals expect home prices to decrease or stay the same in the coming six months;just 18% expect home values to rise.

HomeGain,one of the first companies to provide free instant home valuations online, released the results of our second quarter 2011 nationwide home values survey of over of over 750 HomeGain current and former members and more than 2600 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this real california-state-flower-poppyestate blog we published the 2nd quarter 2011 national results as well as the complete 2nd quarter 2011 regional results, including commentary from real estate agents and brokers.

Today we are releasing the California home values survey data. In the coming days we will be releasing home values survey data from Texas, Florida, Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Set forth below is the second quarter 2011 real estate professional and home owner California home prices survey data along with the first quarter 2011 real estate professional survey data and the second quarter 2011 national home prices survey data: (click on each question to see complete results):

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?

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Posted by: Louis Cammarosano on June 25th, 2011 under Home Prices, Home Values, Home Values Surveys, HomeGain, Polls

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