Posts Tagged ‘ marc rasmussen ’

Sarasota, Florida Foreclosure Statistics

I get a lot of homebuyer inquiries from my website and one common theme from all of them is their desire to ‘find a great deal.’ Regardless of price range, virtually every potential buyer that I communicate with mentions either ‘foreclosure’, ‘short sale’, or ‘deal’.

I am sure most of you know what a foreclosure is but sometimes I run into people who don’t know what short sale means. Essentially, a short sale occurs when the proceeds of a real estate sale are insufficient to cover the liens or financial obligations owed on the property.

For example, if a home is worth $500,000 and the homeowner has a $600,000 mortgage on the property and the owner cannot make up the difference then a short sale is required. For a sale to take place the mortgage holder would have to agree to take less than what is owed to them due to an economic or financial hardship on the part of the borrower.

This process can take months to accomplish. If you are looking to purchase a property in short sale make sure you have plenty of time and patience. If you need to move into a home quickly it might be best to exclude short sales from your list.

Below are some Sarasota foreclosures and short sale statistics: Continue reading this post

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Posted by: Marc Rasmussen on March 25th, 2009 under Guest Bloggers, Regional

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15 Things I Observe About Today’s Real Estate Market

1. Big Discount – Home buyers want a big discount from list price. If the market value of a home is $400,000 and you price it at $375,000 to sell it quickly, buyers still want a large discount from list price.

2. Sellers Pain – If the home seller does not appear to be in pain many buyers won’t feel like they are getting a good enough deal. Even, if they are getting a heck of a price for the home.

3. Foreclosures – Buyers tend to think that all foreclosures are a sweet deal. That is not always the case. 

4. Short Sales – Many banks still stink at getting a short sale approved quickly. A friend of mine recently had a short sale close and said the bank had 17 different people touch the file. No wonder the banks are in trouble.

5. Bad News – Sellers are quick to ignore the bad real estate news but very quick to latch on to the good news.

6. Good News – Buyers are quick to ignore the good real estate news but very quick to latch on to the bad news.

7. Time to spare – Many home buyers feel like they have all of the time in the world. Continue reading this post

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Posted by: Marc Rasmussen on February 24th, 2009 under Buying or Selling a Home, Guest Bloggers, Market Trends

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Want the market to bottom? Don’t take overpriced listings.

If you go back to your high school or college economics class you may remember that the price of anything is determined by supply and demand. The law of demand states that when a market demands a high quantity of a good or service, the price of the good or service will be high. When the market demands a low quantity the prices will be low.

This model holds true in the real estate market as well. So to set a bottom in the market we need more demand or lower supplies. Realtors do their best to increase demand but one thing that we can do for sure is to get rid of our overpriced listings.

Get rid of your overpriced listings.

We won’t see the real estate market bottom out until the number of properties currently for sale is reduced. The biggest thing that we can do as Realtors is to not renew our overpriced listings and don’t take any more.

One of the biggest challenges when working with a buyer is not only finding them a property they like but finding one that they like with a realistic seller. After all of the horrible news about the real estate market and the recession there are still so many overpriced properties out there.

I haven’t done any formal analysis but I would bet that in any particular neighborhood you will find 25% to 50% of the homes for sale have no chance of selling because of their asking price. If we could get rid of a good portion of these overpriced listings we will be that much closer to finding a bottom.

Why do Realtors take overpriced listings? Continue reading this post

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Posted by: Marc Rasmussen on February 4th, 2009 under Buying or Selling a Home, Guest Bloggers

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It’s All About the Leads

I’ve been selling real estate for over eight years now and have had the privilege of observing both successful and unsuccessful Realtors. I have worked in the same office with and have been involved in transactions with some of the top producers in my area.

One thing I have observed about their business is that their lead generation is mostly systematic. Not all of them receive their leads the same way but the big producers have built up a consistent lead generation system where most of their clients contact them. Of course, there are successful Realtors who are out door knocking and cold calling but the largest producers seem to be chased and not chasing.

Where to Get Leads?

There are many ways to “skin a cat”. Realtors can farm geographic areas, build a web presence, advertise in print, use direct mail, purchase leads, or network with their sphere of influence. All of the avenues can lead to success. You just have to decide which of them work best for you. Non computer savvy Realtors barely know how to turn on a computer so they might not be suited to focus on the web. A new agent with few contacts may find it difficult to live off of their sphere of influence. There are very successful agents out there in virtually every market using one or all of these avenues to garner leads. If you do just one of these extremely well you will generate plenty of leads.

Goal: Be Chased, Don’t Be Chasing

If you have been in the business long enough you have probably cold called or door knocked. Some love it while the majority of the agents I speak with generally do not. Your ultimate goal as a Realtor is Continue reading this post

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Posted by: Marc Rasmussen on November 26th, 2008 under Best Practices, Guest Bloggers, Leads

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A Toast to Our New Guest Blogger

Please raise your glasses and welcome our new blog contributor, Marc Rasmussen.

Marc is a Realtor with Michael Saunders and Company in Sarasota, Florida, with a focus in luxury real estate property investments.

Over the last decade, he has developed an impressive web presence in the Sarasota markeplace through unique marketing strategies via direct mail, advertising, blogging and other Internet verticals. He attracts home buyers, sellers and investors from around the world to his Florida real estate website, www.luxurysarasotarealestate.com.

Marc is active with the Real Estate Web Masters (REW) community, ActiveRain and the Sarasota Association of Realtors.

Stay tuned for Marc’s first blog post here on the HomeGain Blog later this week!

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Posted by: Jessica Gopalakrishnan on November 25th, 2008 under Guest Bloggers

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