HOW TO GET YOUR HOUSE SOLD IN 2012

Seems there are a lot of articles out there in the first few weeks of the year to help sellers best position their property for sale.  The most helpful one I read was from Steve McLinden at bankrate.com.  He offers the following suggestions:

       PRICE IT RIGHT FROM THE BEGINNING - buyers are very aware of the market and have a good sense of values.  We see it over and over, when a house is priced high at the beginning it takes longer to sell and sells for less than it would have had it been priced right in the first place.

     THE HOUSE HAS TO LOOK GOOD - There's no getting around it, all those little chores (and maybe even some big ones) have to be done if the house is going to sell.  Buyers have less disposable income these days and don't want to deal with the unknown of projects left to be completed. And, there are likely to be other houses out there whose owner has done that work that will offer stiff competition to your house.

     MAKE SURE YOUR AGENT IS TECHNO-SAVVY - Nearly all buyers and sellers are using the internet in some capacity as part of their real estate search.  You should be searching for a highly rated website, postings on Facebook and Twitter and agents using smartphones for everything from email to videos.

     BE FLEXIBLE - there are all kinds of items in a negotiation that have value and as a seller you should work with your Realtor to carefully evaluate the true value of each of those items and their impact on the final value of the selling price.  Things to consider are:  how to handle a cash offer, negotiation of association dues and fees and even considering seller financing (which could be beneficial to both buyer and seller!)  Think about the extras you can "throw in" that might have value to a buyer.  Most importantly, don't dismiss an offer because it is low.  In most cases, we are seeing agreements being made even when the initial amounts are very far apart. Hang in there and work it through.

The bottom line is that homes are selling.  It's not always the easiest process but they are selling.  In short those houses are the ones that are well priced, in great condition, being handled by agents who are willing to work hard in every realm and those owned by sellers who are willing to listen and negotiate.

WHY IT'S GOOD TO WORK WITH A REAL ESTATE AGENT

All over the Berkshires these days it's not uncommon to hear people ask, "Why do I need a real estate agent?  I can find everything I need on the internet."  And the truth is you really can find lots of information about available Berkshire listings on multiple sites across the internet but there are a lot of things you won't find.

First, you won't find the valued advice and support of a real estate agent who has likely worked in the area for a good number of years - a real estate agent who knows the personality of each community, who knows the sales records, who knows the people you need to know in order to get the best possible home for your needs.  Your real estate agent has access to all the listings in the Berkshires (even the ones that sellers ask us not to advertize) and can make sure you've seen absolutely everything that might be out there.

In addition, negotiating agreements is a complicated bit of work and it becomes much harder to do without an intermediary who can act as a buffer and can provide hard data to support your bid.  Having a real estate agent on your team increases the odds that you will get a really good property at a really fair price.

Want to know more about what a good Berkshire real estate agent can do for you? (And, believe me, there's a lot.)   Give our office a call at 413-232-4253.

We look forward to hearing from you.

NEW REAL ESTATE TOOL

Those of you who follow our print advertising may have noticed we've been using a funny looking "bar code" in our ads.  It's called a QR Code and it's a really great tool for getting quick access to our website on your smart phone.

In order to use it you have to download a QR reader app (just search QR reader in your app store.)  Then, when you see the square bar code in our ads or in our office window or anywhere else you just scan it and the app will take you directly to our website.  Some QR readers will store the URL so you can just click on the link for direct access to the Stone House website in the future.

I see these QR Codes being used in lots of magazines and publications by a wide range of advertisers so if you download the app I'm sure it won't go unused.

Great Start to the New Year

I am happy to report that already in 2011 our Berkshire Realtor colleagues have successfully negotiated 2 purchase and sales agreements for homes listed at over $1,000,000.  What a great way to start a new year!!!

Hopefully, buyers are recognizing the opportunity that exists in this market to buy a home at a very fair price and take advantage of the really excellent mortgage rates that are still out there (see earlier post below.)

Happy New Year from everyone at Stone House Properties, LLC

COMPELLING AFFORDABILITY

   I guess it's the human condition - buyers always want to wait until "the market hits bottom" before taking that big step of making an offer.  To a person, every real estate expert I've ever heard says the problem with that thinking is that you never know you've hit bottom until the prices are already going up. 

   Right now, though, we are seeing an amazing opportunity for buyers whether it's the bottom or not.  With home prices at their lowest in years and interest rates at historic lows the affordability factor is remarkable.

     NAR economists predict that the interest rate will be close to 6% in 2012.  You don't have to be a mathematician to see how quickly a rising interest rate would make a significant difference in the monthly carrying cost.

   At the current interest rate of 4.375 a mortgage of $400,000 will result in a monthly payment of $1,852.  By the time the interest rate moves to the 5.9% predicted that same loan will cost $2,372.  Wouldn't you rather be saving that $500/month or even spending it on a little more house?  At today's rate $2,372 will pay for a $500,000 mortgage (with a little left over!)


How about that - you can buy $500,000 worth of mortgage today for the same monthly payment as a $400,000 mortgage in 2 years.

Think about it.

 

Positive Sales Statistics from the Berkshire Board of Realtors

In a report issued today, the Berkshire County Board of Realtors states that year over year data (year to date 2010 compared to the same time period in 2009) shows improvement in all areas measured and in all parts of the Berkshires.  In South Berkshire the notable numbers are:
    
Number of properties sold has increased by 18% from 226 to 268


Total value of properties sold has increased by a very impressive 28% from $83 million to $107 million with the average sale price up 8% from $369,583 to $399,476. 


These increasing signs of stability and growth in our market are encouraging and reinforce what we are seeing on a day to day basis in our own office.

Possible Rail Service to the Berkshires from NYC

The Berkshire Eagle reports that the Housatonic Railroad Company is considering the creation of passenger service from New York City through northwest Connecticut to the Berkshires.  Possible stops would include the existing stations in Pittsfield, Lenox, Stockbridge, Great Barrington and a new station near Sheffield.  All in it's early stage of planning with lots of unknowns at this point but it's interesting to think about.  Read the full article from the Berkshire Eagle:

http://www.berkshireeagle.com/ci_16358701?IADID=Search-www.berkshireeagle.com-www.berkshireeagle.com

Any thoughts?  Would this be a service you'd find valuable?