5 Signs that the Real Estate Market is Improving

If there’s anything the real estate market crash of 2007 taught us, it’s the fact that the real estate market would not rise continually. There will be times when the market is up and there will also be times when you can expect the housing economy to take a dip. So, how do you know when the housing market is improving? Here are some signs that you may want to keep an eye on.

There are fewer “For Sale” signs in the neighborhood.

You’ll know that the housing market is in bad shape if there are too many “For Sale” signs in a neighborhood. This only means that people are not buying homes, and that the excess inventory is negatively affecting sale prices. When those signs start disappearing, you’ll know that the housing market is on the rebound.

Closed businesses begin to reopen.

Since the housing market largely reflects the current economy, the reopening of previously closed businesses can be a good indication that the housing market is also about to recover.

The job market improves.

Needless to say, more people will be able to purchase homes when the unemployment rate drops and wages improve.

There is an increased demand for starter homes.

In a bad economy, people would rather rent than buy their first home. However, they will start looking for their starter home once the economy improves. Studies indicate that an attractively priced starter home in a good neighborhood will typically sell within 30 to 60 days in a strong economy.

Move-up homes start selling faster.

Home sellers in a bad economy prefer to rent than buy another home so the housing market stagnates. This does not happen in a more balanced market. In better times, home sellers will buy a move-up (step-up) home that suits their needs better. 

Remember, no one sells a home like a Mom so contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. You can also visit my site at http://www.pamsantoro.bhhsgeorgia.com/ for more tips on selling or buying a home. 

Plus, be sure to Join Us at the Aging Parents Workshop. 

Click on the Flyer below for more info!

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Top 3 Emerging Real Estate Trends for 2016

How would the real estate market look this year? With the Federal Reserve’s anticipated increase in interest rates, experts predict that a lot of changes are going to take place, and that these changes would have a great impact on all types of real estate transactions. Here are some of the changes that may transpire in the real estate industry in 2016.

Real Estate Trends for 2016

Interest rates and housing prices will rise

According to Realtor.com, interest rates are expected to increase to 4.65% on the average while housing prices are predicted to rise by 3% this year. When this happens, people will find more difficulties affording a home. In addition, housing demand and growth will be limited since the unaffordable markets (the number of houses that are unaffordable to the average American wage earner) will increase from 3% to 25%. However, buying a house would be a much better option in markets where the median rent hits record high (e.g. in places such as San Francisco, New York, and Boston).

More millennials will be buying their first homes

According to Trulia.com, more millennials have expressed their interest of buying their first homes within the next two years. While 65% of millennials wanted to own a home in 2011, that number has jumped to 80% by the end of 2015. However, with the impending increase in interest rates, some of these first time home buyers may choose to delay their purchase for another year or so.

More people will relocate to second-tier cities

Second-tier or 18-hour cities such as Austin, Nashville, San Antonio, Atlanta and Raleigh-Durham will finally take center stage. These cities will be gaining immense popularity due to the lower costs of living and the presence of amenities that appeal to different generations.    

No one sells a home like a Mom so contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. You can also visit my site at http://www.pamsantoro.bhhsgeorgia.com/ for more tips on selling or buying a home. 

Plus, be sure to Join Us at the Aging Parents Workshop. Click on the Flyer below for more info!

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Aging Parents Workshop - March 24th, 2016

Our next Aging Parents Workshop

Empower Yourself and Your Parents 

Empower Yourself and

Parents

THURSDAY 03 • 24 • 2016

2:00 PM - 3:30 PM

Atlanta-Fulton Public Library

Milton Branch

855 Mayfield Road

Milton, GA 30009

Telephone: 404.613.4402

This event is hosted by the following:

Seating is limited so please r 

 Pam Santoro

Realtor

Berkshire Hathaway

Home Services of Georgia

A member of the franchise system of BHH Affiliates, LLC

Lisa McGrath

Financial Advisor

Commonwealth of Atlanta LLC

Lisa McGrath is a Registered Representative and Investment Adviser Representative.  Securities and investment advisory services are offered solely by ONESCO, Member FINRA/SIPC, 5909 Peachtree Dunwoody Road, Suite 990, Atlanta, GA 30328. 678-842-3100.

Mary Becker

Moving Specialist

Best Deal Movers

BEST

MOVERS

Erica Ramsey

Insurance Advisor

AAA, The Auto Club Group

Mary Jo Bowser

Home Care Advisor

Griswold Home Care

Seating is limited so please register early.  Guarantee your reservation today by calling 678-842-3100
If you prefer, email lisa@cwbfs.com.    

What Makes a Great Real Estate Agent?

How do you enjoy a stress-free and profitable real estate transaction? Well, all you need is to find the right real estate agent. Sounds simple enough, right? While it may certainly look that way, it’s actually a little more difficult and more complicated than what you think.

So, how do you find one? First, you need to know what makes a great agent.

Qualities of a Good Real Estate Agent

You’ll know you have chosen a winner if your agent possesses the following characteristics:

·         Has the right credentials. Your agent has all the right degrees and certifications, and is licensed by your state’s regulatory board. To make sure that you have someone who is looking out for your best financial interest, choose an agent that belongs to the National Association of Realtors (NAR).  

·         Extensive local knowledge. Aside from being in the business for more than five years, your agent has recent sales experience and success in the area, and understands the nuances of the local housing market. Don’t settle for one who is new in town unless you want to encounter troubles down the road.

·         Has the right connections. Your agent has a vast network of contacts (real estate agents, brokers, potential buyers and sellers, appraisers, home inspectors, and mortgage loan officers) within the area they serve. The larger your agent’s network is, the faster you can sell your home for a nice profit.

·         Excellent negotiation skills. A good agent is aggressive and is not afraid to speak up. He or she will do everything to meet the needs of his or her clients.  

·         Engaging personality. Trust your instincts when choosing an agent. Generally, a good real estate agent has a great, can-do personality and impeccable work ethics. He or she is also personable, polite, honest, and organized. 

Keep in mind that hiring the right real estate agent can be the key to a painless and stress-free real estate transaction so choose wisely!

No one sells a home like a Mom so contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you within your search for real estate. You can also visit my site at http://www.pamsantoro.bhhsgeorgia.com/ for more tips on selling or buying a home. 

Plus, join us at the 

Greater North Fulton Chamber of Commerce Business Expo on March 11, 2016. 

Click on the flyer below to view video promotion of this upcoming event!

photo courtesy of stockimages at freedigitalphotos.net

Buying a New Home? Get to Know Your New Neighborhood by Doing an Online Search

When shopping for a new home in an unfamiliar area, potential t can provide you with a general overview of what you need to know about the neighborhood, you should do your own research before making a decision.

However, you don't need to stroll arhome buyers usually want to know what the neighborhood is really like. While your real estate agenound the area and ask every stranger you meet about what it's like to live there. You can learn everything you need without leaving the comforts of your own home. How do you do it? Through the power of the internet! Here are some useful sites that may help you get all the information that you need.

My Local Crime

Would it be safe to live in your chosen neighborhood? Are there certain areas that should be avoided after dark? Since you need to ensure your family's safety and security at all times, consider using this website to know what crimes took place in the area and where those crimes were committed. Just type in the address of the house you are thinking about buying and you will get an index of all the crimes committed in the neighborhood.

Greatschools.org

Moving in to a new neighborhood that offers good quality education would be a definite plus, especially if you have school age children, right? If this is one of your primary concerns, use the Greatschools.org website to find useful information and reviews.

Walk Score and Bike Score

Do you want to know how easy it is to get around on foot or on a bike to the nearest grocery, coffee shop, or park in your chosen neighborhood? If you do, you'll find everything you need to know by visiting these websites.

You can also use other websites such as Transit Score to check the area's accessibility to public transport, Yelp to discover new restaurants and Moviefone to discover nearby theatres, and Gravy to get a list of the local events.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. 

Plus, join us at the Greater North Fulton Chamber of Commerce Business Expo on March 11, 2016.

Click on the flyer at right to view video promotion of this upcoming event!

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Understanding the Role of an Appraiser in the Home Buying Process

The appraiser plays a very important role in the home buying process. Basically, he or she is tasked to determine the current value of a property by carefully examining the exterior and interior condition of the home, evaluating the amenities and taking note of any health and/or safety code violations. In addition, the appraiser also evaluates the current real estate market in the neighborhood to help determine the real value of the property.

Understanding the Hiring and Payment Process

As a rule, the lender or financing organization chooses a qualified appraiser from a list of reputable appraisers they have hired in the past. Since it is in their interest to get a good appraisal, you can be sure that the chosen appraiser will have all the necessary qualifications (state license, membership in a professional organization, and other certifications) required to do their job.

As to the question of who will pay the appraiser, it is customary that whoever takes out the loan will be responsible for paying for the appraisal of the property, unless specified otherwise. In some cases, the seller may pay for the appraisal just to back his asking price.

The appraisal fee is usually affected by the size, value, and location of the property, and may range anywhere from $300 to $600. If the buyer is paying, it will usually be included in the closing costs.

What are the Benefits of a Home Appraisal?

A home appraisal can provide you with an objective, third party opinion of a property’s current market value, and help you make a more informed offer to purchase. With a properly conducted home appraisal, you can be sure that you are not spending more than what you should for your next home. And that alone is worth the small price you have to pay.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. Remember, no one sells a home like a Mom!

Photo courtesy of stockimages at freedigitalphotos.net 

Buying a House? 3 Costly Emotional Mistakes to Avoid

For most home buyers, buying a house can be an overly emotional experience. While this cannot be avoided, it becomes a major problem when buyers allow their feelings to cloud their judgement. Don't fall into the same trap. You can avoid overpaying for your dream home by knowing how to deal with the most common emotional mistakes home buyers usually make.

Common Emotional Mistakes When Buying a Home

Falling in love at first sight

When buying a home, do your best not to fall in love at first sight since this can be your downfall. Some buyers often overlook the flaws or overextend themselves financially just because they get so infatuated with the property the moment they see it. Get a hold of your emotions, practice due diligence and make sure you have the strength to walk away, if needed. Keep in mind that buying a home is one of life’s biggest investments, so treat it accordingly.   

Believing that a short sale is a good deal

Some people think that buying a short sale or a foreclosure can give them more value for their money when in reality, it can be the exact opposite. To reduce your chances of committing this costly mistake, consider working with a professional who has an extensive knowledge of the local market.

Not negotiating realistically

All home buyers are looking for the best deal they can get but keep in mind that there is a world of difference between negotiating and lowballing. If you want to increase your chances of getting your dream home, make a realistic bid. A lowball offer can only annoy the sellers and increase your chances of getting your bid rejected and losing the property.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. Remember, no one sells a home like a Mom!

Photo courtesy of fantasista at freedigitalphotos.net