Are you allowing fear to stop you from Buying your WNY Home?

 Why are so many buyers afraid to pull the trigger?

In my opinion, without the tax credit the motivation is not as strong. However, in my WNY area there is still a strong interest in home purchase. In some cases Buyers are afraid the market has not reached bottom.  They are concerned about our economic recovery with good reasons.  Again National press only depresses local markets as a whole.  But here in WNY/Buffalo NY Area our market never changed as far as the Boom.

Speaking for the WNY area I will go on record in say whoever says that we can’t sell homes today in this market should get out of the business because this is the best time to buy since the 1940s.

Now! Can I speak for other cities No I can’t.

The HARD reality is that buying a house now may NOT be everyone's cuppa tea. Don't worry, the market can handle it – The real estate market has boxer's shoulders. :) For as long I’ve been in the business real estate has always prevailed.

 Here's the deal... I just decided to take on the challenge what many might consider an unsurmountable challenge, of disagreeing with all the gloom and doom of what’s supposed to be going on in the real estate world. Because I’ve been on the ground floor with this market seeing it and listening to all the sad stories on the news seems foreign to me but I understand why buyers are in fear because Majority of people who could Buy a home just simply feel they will Build that equity Faster and at a Lower cost with less RISK if they wait....Buyers has been listening to the media that the sky is falling in real estate The simple truth is that I don't want to be part of the incessant noise going on in the Atmosphere that this isn’t the best time to buy real estate.  Some may say sure you would say that because you’re a Realtor and in some cases with other Realtor that may be true but I can truly say that at least here in WNY this is the best time to buy a home. When you couple this with the last time the best time to buy was in the 1940s hmmm that was 61years ago I can’t argue with that. But what about the low interest rates? Buyers can actually buy the home of their dreams now because of the low rates. I know I sound like a real estate cheerleader but I truly don’t want any buyer to miss out on this grand opportunity to buy their dream home, all I can say is that I told you I’ve done my part.

Please if you are looking to overcome your fears of owning a home in this grate market please feel free to give me Mark Key a call and I’ll be sure to guide you to your WNY dream home.

Mark Key

RealtyUSA.com

716-603-8649

Are you allowing fear to stop you from Buying your WNY Home?

Should I Stage My WNY Home?

Staging your WNY home is a question lots of clients ask and with good reasons. See I have the privilege of working with a WNY home Stager who is my wife who went to school for interior design so I learn a lot from her and she also help with staging clients homes. I believe that whether a house is occupied or vacant.  It’s important to stage so buyers can envision themselves in it.  I’ve been very fortunate to have sellers who understood about cleaning up and cleaning out their house before selling.  They followed my advice to the letter and all houses had offers within 15 to 30 days. So it’s very important to listen to you agents advice. A Home Stager is just another tool for homeowners and Realtor to improve the marketing strategy on their home. Let’s not ignore that your home is one of most important investments you can make, so we have to make it better.

How does not, staging your home hinders you homeowner insurance?

A lot of people don't realize that their home owners insurance won't pay in cases where the home is left empty too long and for good reason. Broken pipes, vandalism, etc. cause untold dollars in damages.  Staging can help you keep your home looking as if it’s still occupied.

Are you hiding something while staging your WNY home?

I’ve heard agents say” what is the stager hiding?” or maybe the homeowner is hiding something will I find the opposite to be true. If there are problems with a vacant home and an on site property manager/stager comes in, those problems are more likely to be flushed out...while the property is on the market, allowing the repairs to be made sooner, rather than later.  For the realtor, the stager or the owner to withhold information of known problems is not ethical. Also, a stager will have much, much less furniture in a house than is normally there in an "unstaged" home.

It used to be that you could be the best price or the best looking in order to get a house sold.  Now you have to be both from day 1."  Because agents and sellers alike have seen the proof in how quickly homes that are priced right and prepared well are still selling.  I firmly believe Staging is so important.

For all WNY Home Sellers if you are contemplating getting your home staged to get it sold feel free to contact me   I have a Home stager who go out to all of my listings, as a part of my service.  Sometimes only simple changes are made.  We stage with the seller's items most often, and reduce clutter.  Give your home the red carpet treatment and upstage the competition.

 Mark Key

RealtyUSA.com

mkey@realtyusa.com

www.everyhomeneedsakey.com

Should I Stage My WNY Home?

Why Nobody Bought Your WNY House -- And What To Do About It?

DID WNY BUYERS EVEN KNOW THAT YOUR HOME WAS ON THE MARKET?

What an interesting question since your WNY home was on the market for such a long time.   Buyers should know that your home exists. Not all buyers drive down your street, (JUST A SIGN, WON’T CUT IT). You need high impact marketing that gets your home notice and then sold. If you were one of the unfortunate Western New York home sellers who had a home on the market for at least 6 months or more and it didn't sell there could be one or several factors involved. If your listing has expired on the market and you are still interested in selling it, start making plans today to make a commitment to do what it takes to get it sold. 

Your first step should be to hire a competent agent who gives you honest information and advice on price, condition and market time, not an agent who asks you what price you want or need and says "sign here."

More importantly you need an agent who can get buyers excited about your home and get them through that front door and show them why your home is the home for them in their family.

Now with all that being said it is very important for you to be on board to make this process happen. Are you ready to sell your home? Are you ready to get buyers excited and do you believe that your home has what it takes to sell? Well all these are important questions and only you can answer them.  When you decide to hire a new Realtor at the listing appointment you should ask your potential agent for a marketing plan for your property.  What do they see as vital to the marketing of your home given your area, price and demographic.  Ask how much money is spent marketing your home and where is the money spent?  Do they make it easy for buyers to get information on your home?

The next time you put your home on the market for sale consider these points and ask yourself did I make the right choices?   What can I do this time to have a successful outcome?

Say goodbye to any real estate agents using old, traditional methods to sell your home because they don't work in today's market!
To be competitive in today's marketplace, agents who use new and innovative, non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar.

Buyers are Out There...And They Will Come!

Before You Put Your Home Back on the Market remember:

1.     Effective communication is vital between you and your Western New York Realtor.

2.    Price your home according to market conditions, competition and the condition of your house.

3.    Be sure your house is in showcase, buyer ready-condition.

4.   Have an innovative marketing plan firmly set in place.

If you're ready to put your home back on the market, successfully this time, be sure to request your Home Evaluation CMA.  Or do you still have questions and need more information?   If so, contact me today and you will receive a prompt response from Mark Key a full-time professional WNY Realtor.  There is absolutely no obligation and no pressure. Just some interesting information you can use. You can reach me day or night at 716-603-8649

Why Nobody Bought Your WNY House -- And What To Do About It?

Recent Real Estate Questions received

Question: Tom Shultz

  Hi Mark,what is title insurance and what's the purpose in having it?

Answer: By Mark Key

The birth of title insurance
    It began in 1868. In Philadelphia, a land sale showed the necessity of having more protection than the examination of public records would provide. Before the sale, a title search disclosed an old judgment against the land. But the buyer's attorney advised that it was not a valid lien, and the sale was completed.
    Shortly afterward, however, the lien was allowed by the court, and the property was sold at a sheriff's sale. As a result of the loss, real estate attorneys decided to do something to protect innocent investors. They created title insurance, and before long it was used all over the U.S.

Thanks for the challenging question Tom I had to do my research. If you have a challenging question for me please feel free to ask at the bottom of the page and start a discussion or ask like Tom did in the QandA BOX at the top of the page and I'LL only post the question if you give me permission.

Mark Key
RealtyUSA.com
716-603-8649
mkey@realtyusa.com

Recent Real Estate Questions received

What is the best month to sell My WNY Home?

Recent question asked by one of my clients were!

I have always heard that houses sell in spring and summer since school is out....but is the market overly saturated at that time?  Is there a better time for a seller to sell?

Answer:

houses typically sell or hit the market in spring and summer because of foliage blooming and whatnot, filling in of plants and trees can add such beauty to a house that a lot of people want to wait until then.  I think in this market that one need to price aggressively ahead of the market in either direction it is heading in order to get the most for your house and move it quicker.  So if the local market is down 6%, price it 8% lower and you will most likely get a multiple bid situation.  Houses are selling that are priced correctly....the most important thing that anyone or any Realtor can take from this post is price ahead of the market.  If the market is still dropping, price it slightly lower than the best comps and it will sell quickly and closer to asking price.
Those times of year the inventory skyrockets.....why not get on the market a little earlier so you are not competing with so much more inventory because everyone wants to list March 1st.....

 Real estate transactions happen all year. Even during the Thanksgiving - Christmas time period. People move for a variety of reasons - job transfer, marriage, divorce, birth of a child (outgrowing current home), etc.
when buyers can time their moves they do often try to do so around the school calendar so that they do not have their children change schools in the middle of the school year. This is why many sellers wait until spring or summer to list their home. True this can create a greater supply (and more competition for a seller).
When you contact agents to come by and provide you with a market analysis - ask them to give you stats for sales in your area by month over the past few years. This may help you identify a trend. Also ask about average days on market for homes listed in March vs. those listed in Sept. This may also help you pinpoint a listing time that you are comfortable with!

The one thing we in WNY have to worry about is the snow we get through out winter months. We Western New Yorkers don’t have the privilege to see what the lawns may look like around that time of year.

To conclude the most accurate answer is that it depends on where you live.  There are many considerations that factor into when the best time is to put YOUR home on the market.

Neighborhood, price range and; the time-frame you have that you need to be out of a house are just a few of the important criteria you need to consider for when is the best time to put your home on the market.

If you would like help in determining what the best time is for you, feel free to get a true assessment of your home get a FREE Home Value.  I'll be happy to help you assess your situation with no obligation or charge.

Mark Key
Realty Edge INC
716-603-8649
mkeyrealtor@gmail.com

What is the best month to sell My WNY Home?

Combining all the key ingredients together to get your WNY Home sold!

Your home will sell at the highest profit in the quickest amount of time when all the ingredients are combined perfectly. If only one ingredient is left out the formula or is out of proportion to the others … your home will take longer to sell and will quite possibly cost you money. Here are the 5 key ingredients to getting your home sold.

LOCATION

The pricing of your home must reflect its location.  The better the location, the higher the acceptable price.  School districts, high or low traffic, and highway accessibility, all need to be considered in determining the value of your home’s location.  We cannot control the location

CONDITION

The pricing of your home must accurately reflect its condition.  The general upkeep and presentation of your home is critical to obtaining the highest value for your home.  Nature of the roof, plumbing, carpets, and paint all relate to condition.  Basic rule: If we can smell it…we can’t sell it!

MARKET

Recession, inflation, interest rates, mortgage availability, competition, and the public’s perception of the general economy all make up the market.  It may be a buyer’s market or a seller’s market.  The pricing of your home must reflect the current nature of the market because we cannot influence the market.  We can, however, take advantage of the market.

TERMS

The more financing terms and options you accept, the more potential buyers there will be for your property.  The pricing of your home must reflect the terms available.  The easier the terms, the more valuable your property becomes.  (And this is where my team of professional Affiliates really shine-by offering a broad, full-spectrum of mortgage products and options to both you and all potential buyers!)

PRICE is the #1

most important factor

in the sale of your home.

The consequences of making the wrong decision are painful. If you price your home too low, you will literally give away thousands of dollars that could have been in your pocket.

Price it too high, and your home will sit unsold for months, developing the reputation of a problem property (everyone will think that there is something wrong with it).

Failure to understand market conditions and properly price your home can cost you thousands of dollars and cause your home not to sell… fouling up all of your plans.

Setting the proper asking price for your home is the single biggest factor that will determine the success or failure of your home sale.

 If you are looking for A WNY Realtor who is willing to help you get your home sold for top dollar in the least amount of time feel free to contact me at your convenience I am ready to help.

Mark Key

Realty Edge INC

716-603-8649

mkey@realtyusa.com

Combining all the key ingredients together to get your WNY Home sold!

I have No hardship Can I still do A WNY Short Sale?

Good question! It seem as though every time you look around I’m writing a post about this particular subject well its true Because every time I turn around more questions on this topic arise so here we go again.

From my experience You MUST demonstrate a true hardship in order to obtain a Short Sale Approval from the bank.  You also have be delinquent when you apply for your short sale. For that would show that you are having a hard time making payments. If you are paying your mortgage on time the bank will not see any problems and with that being said where is your hardship?

If you the seller had fallen on hard times you must submit a letter of hardship that explains why you cannot pay the difference due upon sale, including why you has or will stop making the monthly payments. Here’s how to determine if your short sale will be approved.

Hardships being approved by the banks are:
1. Loss of job
2. Divorce
3. Job relocation 50 miles or more
4. Significantly reduced wages (must be documented).

UNACCEPTABLE Reasons

Quitting a job
Leaving a job to stay at home and care for children
Voluntary reduction in hours worked, reducing pay
Seasonal layoff from a job
Quitting a job to go back to school

 Remember that it never hurts to try! In some cases it may be possible, depending on.

Who your lenders are (some are easier to work with than others), (2) what you say to satisfy the hardship requirement, (3) what your financial documents show as far as ability to pay the mortgage.

Technically, being upside down or undervalued is NOT accepted as a hardship by lenders. And regardless of what you say in the hardship letter, they will review your tax returns, bank statements, pay stubs, and credit report. If they determine that you can afford the mortgage, then the short sale will be declined.

For more FAQs on Short Sales, check out my link.How Do You Compete With the Foreclosures in Your WNY Neighborhood!

Contact Mark Key for any further questions on this matter I will be happy to assist you 716-603-8649

I have No hardship Can I still do A WNY Short Sale?