Unfortunately, sometimes the housing market is not quite so generous to sellers.  Nevertheless, when the housing market takes a dive, it doesn’t mean that the selling price of your home should do the same.  Even when the housing market in your area is not very favorable, it is still possible to get your asking price.

In order to get a top-dollar price, you may need to pay a little more attention to your home’s appearance. Think of your time as an investment which will pay off when the home sells.  Likewise, any updates or renovations that you opt to perform will raise your home’s value.

Your realtor will be able to give you useful advice about how you can increase your chances of a successful and profitable sale. The following information, collected through years of real estate experience, may be helpful to you:

Consider “Curb Appeal”
Today’s buyers are looking for their dream home, and they often begin their search on real estate websites where they can view potential homes from the comfort of their living room.  Remember that the first thing they will look at is the photo.

Therefore, you need to take an actual photograph of your home.  Look at the photo and note any visible flaws.  If your grass is too tall, you should mow the lawn or consider hiring a landscaping company to get the lawn in tip-top shape.  If your flower beds are filled with weeds, now would be a great time to pull those weeds and lay down some mulch.  Trim any unruly shrubs and clean off your front porch.  These are some of buyer’s major pet peeves. If you address these things before listing your home for sale and taking that final photo, you stand a much better chance of attracting potential buyers.

Appeal Must Go Beyond the Curb
A potential buyer who walks into a home wants to feel comfortable.  Above and beyond any other features that the home offers, it must be comfortable.  Therefore, once you have cleaned up the outside of your home, take a look at what buyers will see when they walk through the front door and do everything you can to make it as warm, inviting, and comfortable as possible.

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When realtors show potential buyers foreclosed properties, they should make every effort to convey the difficulties that a new home owner may experience once the sale is complete.  If you are considering the purchase of a foreclosure property that may be too large of a commitment for your lifestyle, a good realtor will be honest and share his or her concerns with you.  This is because good realtors want their clients to be happy with their purchase, and therefore try to ensure that each client is making the best decision for his or her particular circumstances.

Logistically, the process of searching for a foreclosed home is very similar to that for any other home.  Specific listing services provide information to potential buyers, and realtors receive additional information that they can shared with potential buyers.

Potential buyers usually want more information about foreclosed homes than what is available. Understand that when you seek information about a home being sold through a foreclosure sale service, your realtor will probably need additional time to find the answers you need.

A foreclosure is almost always a home that was purchased by a buyer with a federally insured mortgage.  The buyer then defaulted on the loan and the home went into foreclosure.  Because the borrower’s mortgage was federally insured, the insuring agency was required to satisfy the remaining balance of the loan, in essence buying the home from the lender.

Obviously, the government does not want or need this surplus property.  Therefore, the government usually sells the property to a company which specializes in the sale of foreclosed properties.  These agencies are located across the country and list thousands of homes for sale.

Some of the higher-quality homes in affluent areas are sold immediately, perhaps even before they are officially listed for sale.  This leaves average home buyers with opportunities to save a significant amount of money if and when they find a home that works well for their current situation.

Many foreclosed homes have been vacant for a long time before the listing agency places them on the market for sale.  The risk of problems arising from that vacancy may leave buyers disillusioned when they finally have a chance to visit the homes they are considering.

Also, in some foreclosure situation, the previous borrower may not have maintained the home adequately and there may be missing or damaged items throughout the home.  Sometimes foreclosure homes are referred to as buyer beware, because these homes are almost always sold as-is.

Here are the three most questions that REALTORS® are asked about foreclosed properties:

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]]> http://montanaexpert.wordpress.com/2009/05/29/finding-bargains-in-foreclosed-properties/feed/ 0 Arnie Kleinsasser- Your Montana Real Estate Expert http://montanaexpert.wordpress.com/2009/01/21/bozeman-makes-top-25-in-housing/ http://montanaexpert.wordpress.com/2009/01/21/bozeman-makes-top-25-in-housing/#comments Wed, 21 Jan 2009 02:30:00 +0000 Arnie Kleinsasser- Your Montana Real Estate Expert http://bozemanrealtor.wordpress.com/?p=25 ]]> Two states with reputations for being some of the coldest places in the country dominate the Housing Predictor Top 25 housing markets for 2009. Montana placed all of its five forecast markets on the list, and neighboring North Dakota had 4 markets make the top 25 forecast to have the highest appreciation in home values during the year.

The Housing Predictor Top 25 Markets are selected from the more than 250 local housing markets forecast, and are projected to have the highest probability of hitting their forecast appreciation. Seventeen markets are forecast to experience some level of appreciation in 2009, making the top 25 markets. Eight other markets round out the Top 25 forecast to experience lower deflation than the majority of the country.

Bloomington, Illinois grabbed the #1 position forecast to appreciate 3.6% in average home values in 2009. Bloomington is the home to Illinois State University and the home offices of State Farm Insurance. Homes are taking longer to sell these days in Bloomington, but the market should remain as one of the nation’s exceptions with appreciation in 2009.

Montana cities that made the list are Billings ranked #3, Bozeman ranked #9, Great Falls ranked #13, Livingston ranked #14 and Missoula #16.

Click here to see if your city is on the list.

As a whole, college graduates make more money and display a higher rate of homeownership than those without a college degree.  And generally this group desires to settle in areas with a variety of cultural amenities and a growing economy.  College graduates seem very comfortable with relocating to new areas.  In fact, 45% of college graduates settle in new states within 5 years of graduation compared to 19% of those with a high school education.  Even with the current state of the national economy, the areas that have seen stability and even growth are predominantly those where there is an above average population of college graduates. 

So, what is an area to do to retain and attract this vibrant, talented populace?  By and large the regions that can offer high job growth, lower unemployment, higher pay, lower housing costs, and better amenities are going to be the winners on drawing in these people who will in turn boost the economy by stimulating consumer purchasing and becoming first time homebuyers. 

According to the Bureau of Labor Statistics, as of the end of July 2008, Montana ranked 9^th nationally for the lowest unemployment with a rate of 4.0%.  The rates ranged from 3.0% in South Dakota to 8.5% in Michigan with a national average of 5.7%.  Further breakdown shows Gallatin County weighing in at 2.5% and neighboring Park County at 3.1%. 

Bringing in start-up businesses and appealing to the entrepreneurial spirit of talented graduates is another way to make a community more attractive.  One example of our local community realizing this fact is the existence of Prospera Business Network (formerly the Gallatin Development Corporation) since 1985.  Pulling from their website, the private, non-profit, member-supported economic development organization is dedicated to encouraging and supporting business expansion, retention and relocation by providing access to business consulting, financing, professional development and economic research. Efforts like this make our area a viable choice for professional career development and for those looking to relocate in order to start their own businesses.  Local government decisions effecting public infrastructure and the like can also enhance our area as a “place to be”. 

A final factor that we as a community can’t control but is definitely in our favor is that an area with an abundance of recreational opportunities is often enough of a draw to enterprising individuals.  Although “you can’t eat the scenery” is commonly heard around here, often it is enough to keep innovative people in the area long enough for their ideas and careers to take hold and keep them here.  In effect, continuing the cycle of Bozeman becoming a destination location.

HATCH is a year round non-profit organization, designed to develop and foster the growth of creative minds in various industries through mentorship, exposure, and networking. Since it’s inception in 2004, Hatch has successfully developed an environment, from HATCHfest to HATCHlabs that strikes the enthusiasm and stimulation of young artist’s creativity throughout the world, by connecting new filmmakers, musicians, photographers, designers, architects, writers and fine artists with award-winning veterans in the entertainment industry. The inspiration of one affects the lives of millions.

HATCHfest 2008 runs October 1-4. Learn more at www.hatchfest.org

PRINCETON, NJ, September 24, 2008 – NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate service providers worldwide, announced today it enhanced its coverage in Montana with the signing of Landmark Commercial.  The firm will now be known as NAI Landmark.

  

• Worked at The Yellowstone Club in the Construction Division of Development.
• Got into Real Estate in 2006. Has been with ERA since Feb. of 08.

Education

• Graduate of Sky Line High in Great Falls
• Numerous courses in Real Estate and Development
• Fine Homes & Estates Specialist

COMMUNITY SERVICE & PROFESSIONAL INVOLVEMENT:

• Love Inc.
• United Way
• Toys For Tots
• Big Brothers and Sisters

Personal

• Avid Golfer
• Shooting and Hunting
• Photography
• Hiking Fishing