Infotube.net: Homes for Sale - For Sale By Owner (FSBO) - Real Estate Listings

Unless you were alive when Herbert Hoover was sitting in the oval office, this is probably the worst home selling market you have ever experienced.   

Certainly, things are not horrible everywhere.  Charlotte, NC and Rochester, NY are holding on, but elsewhere, housing sales and prices are still falling, while inventories are growing.    

So, what should you do if life circumstances dictate that you MUST SELL your home in this market?  What actions can you take to beat out your competition??    Yes, the situation is painful.  But, if you have to sell, InfoTube can help.

5 Tips to Help You Sell, When you Have To Sell:

1. Don’t Spend Money.

Your house needs to make a good impression on buyers, but DO NOT spend money on big ticket items or home improvements.   Focus your attention and budget on a new paint job, deep cleaning and a lot of sprucing up.   But, absolutely, make all repairs.  

     2.    Don’t Sit on the Sidelines.

If you have to sell, now is the time.   Don’t make the mistake of hanging on, hoping prices will improve any time soon.   They won’t.   I expect another year to pass before we see any bottom in pricing.  Forget the market timing approach and put your home up for sale today.

     3.    Get Real.

Separate your emotional attachment to your home from your family’s financial best interests.  Selling a home is strictly business and should be treated as such.  

Don’t forget that smart home shoppers read the news.   Buyers expect a bargain, so give them one.  Don’t make the mistake of letting the house languish on the market.  Set a realistic price target for your home from the beginning.  Better yet, crush your competition and price your home 5%-10% below theirs.  Forget about pre-crash appraisals or the sticker price for those custom upgrades, those comparisons won’t fly, so don’t try it.

    4.    Early to Bed.  Early to Rise.  Advertise. Advertise. Advertise… Ray Crock

Whether your home is for sale by owner or by agent, you need to be active in the promotion of your property.   Your home should be advertised in the local classifieds, company newsletters, church bulletins, university or employee bulletin boards, bill boards or anywhere buyers are looking.

While local print advertising is important, don’t forget the power of the internet.   90% of all buyers begin their search for a home on the world wide web.    The internet is also the only means of effectively reaching out of the area shoppers and those from foreign countries.

Whether you are selling by agent or owner, take advantage of websites such as InfoTube.net, which offer a free home listing web page with photo’s.  Infotube.net also uploads its home listings to other websites and search engines, leaving a lot less work for you to do.   Other websites, such as craigslist also offer home listing services and should be utilized in your sales efforts.

Contact Why 6%.  Why 6% will guarantee that your home listing appears on all Realtor owned web sites, even if you are selling your home by owner.   The company also uploads home listing information to the local MLS, Realtor.com, Zillow, Trulia, Cyberhomes and others, in one easy step. 

     5.   Accept the Offer

If you need to sell now, you would be well advised to accept any reasonable offer from a qualified buyer.   It is easy to determine what “reasonable” is.  Ask your agent for comp’s or just review the asking and selling prices for your neighborhood on a website such as Zillow. 

If the first offer is low, but reasonable, you can negotiate, but remember the buyer has more power now.  Don’t blow a sale arguing over a few dollars.  Your home is only worth what someone will pay for it, which might be far less than what you think your home is worth. 

Best advise:  If the buyer makes an offer that is close, don’t counteroffer.  Sign the contract on the spot and congratulate yourself on nailing down one of the few buyers out there these days.  

   Thank you for visiting InfoTube.net.  Have a great weekend and best of luck on the sale of your property.

Average Days on Market

Source: Altos Research & Real IQ

In today’s tight credit market, obtaining approval for financing BEFORE shopping for a home is a crucial step that borrowers must take.   Sellers and buyers are familiar with the phrase Pre-approved” or “Pre-qualified” for a loan.  Many of us assume they mean the same thing.  They don’t.  There is a huge difference between the two terms. 

Pre-Qualification:  Pre-qualification is not a loan commitment, it is a quick indication of whether a borrower should qualify for a loan or not, based solely upon the opinion of a loan officer.  With a pre-qualify situation, the loan officer peeks at the borrowers finances, pay stub and credit report and estimates the approximate amount of a mortgage that the buyer should be able to qualify for. 

The loan officer will usually issue a “pre-qualification” letter or certificate which indicates the borrowers finances have been reviewed and that it appears they could qualify for a mortgage loan.   It is not a guarantee that the borrower will actually be able to get a loan.

• It is easy to determine if you have received a “pre-qualification” letter.  If you have not signed an application and/or you have just given information over the phone…your approval is nothing more than an estimate or opinion made by a loan officer.
• If you have not paid non-refundable fee’s along with the signed application, you have not received a loan commitment by the lender.
• Pre-Qualifications should not be taken seriously by borrower or seller.   Pretty much anyone can get the favorable opinion of a loan officer these days, as they are paid only on commission.

Pre-Approval:  In the case of pre-approval, the borrower actually applies for a loan.  Pre-approval is a written commitment by the lender, not a loan officer, which states the specific amount of money the applicant is qualified to borrow.  Pre-approval involves a loan underwriter and takes some time to complete.  The file contains a detailed credit report, income and down payment verification, along with a confirmation that the borrower has the ability to pay closing costs.   

• If you have met your lender in person, completed an application and paid fee’s, you have started the process to become pre-approved for a loan.
• A letter of pre-approval states a maximum amount of money the borrower can obtain financing for.
• The property address will be added to the loan application and the appraisal will be ordered, once the borrower locates a property.
• The borrowers’ bank and employer will be contacted and the information submitted on the loan application will be verified.

 In Conclusion:

Unfortunately for seller and buyer, the terms pre-qualified and pre-approved are not interchangeable.  The difference between the two terms causes a great deal of confusion and problems.  

Please keep in mind that neither is a guarantee that a mortgage will be issued.  The home must qualify, too.  But, a borrower that is pre-approved for a loan, is the only type of buyer a seller should take seriously.  

An interesting 2 minute video from CNN News offering a unique approach to selling your home FAST.  In 5 days, as a matter of fact.

Purchasing a home is a huge financial undertaking that requires organization and complex calculations before you begin your home search.  

We found a new website by HGTV named Frontdoor.com, designed to make home buying an easier task.    Frontdoor.com provides a user-friendly free toolkit for homebuyers and sellers that is packed with handy tools.  Check out the rent vs buy calculator, home selection tips, financial calculators, home tour check lists, how to advice and much more. 

If you are in the market for a home, take a minute to visit the HGTV Frontdoor website this weekend.  In our opinion, it eliminates a lot of the confusion about the daunting task of home buying and frees up your time for more house hunting. 

Be forewarned, that the evening news, websites, radio shows, TV programs and foreclosure bus tours that tout foreclosures can be purchased for a bargain, or worse, that they will make the purchaser wealthy in coming years are little more than “paid for” hype.    Don’t buy it.

In my 25 years of real estate experience, I have discovered that for the most part, foreclosures are no bargain.  They are laden with serious problems and lengthy delays, making them “deals” for only those pro’s with patience and a strong stomach.

Foreclosed homes are not wonderful, like the media would have you believe.   The large asset departments that handle foreclosures (REO’s) are managed by employee’s with hundreds of files and no incentive to help the sale close.  They don’t care if the property sells or not, they earn their paycheck, holidays and vacations, in either case.   The truth is that only one of every three offers made to a lender will actually end in closing and Buyers should expect to wait weeks to learn if their offer was accepted. 

In addition to the hassles of dealing with the “could care less” personnel at the lending institutions, getting these homes inspected is also a challenge.  In many cases, entry before the sale is not even possible.  No effort has been made to clean the homes or remove the abandoned trash.   The utilities have long been disconnected.  And, all lenders have a “as is” clause in the sales contract, which states that the lender is not responsible for the condition or repair of these homes, even if they are obvious and necessary.

Another problem with buying foreclosures is that the  owner who lost the home long stopped caring about the property, and in some cases, even retaliated in anger. 

• Always assume if something broke or stopped working, the owner didn’t spend money to fix it.
• Some angry people actually retaliate by attempting to destroy the house. They smash holes in walls and ceilings, plug the drains and turn on the water to flood the home, rip through the sheet rock to steal copper and wiring to sell as scrap.
• They steal the appliances, light fixtures, kitchen cabinets and HVAC units to resell.
• They leave anything and everything behind that they do not want.  In many cases, this even includes helpless animals which are discovered locked inside the abandoned homes.

Buying foreclosures is not for the faint hearted and it is a myth that bank-owned properties are a bargain.  In truth, REO’s are a messy hassle and the cost of repairs often exceeds the value of the home, after the repairs are done.  

I don’t care what commercial you watched or which seminar you attended, if you they haven’t told you this information, they did not prepare you for the reality of the purchasing a home lost to foreclosure.

Thank you for visiting InfoTube Homes for Sale. 

What is Curb Appeal?   It is the first impression of a house as seen from the street.     

How can a do-it-yourselfer on a limited budget improve the curb appeal of their home?    Simply, add some color and life to the landscape. 

Any doubts??  Seeing is believing.   Even a bit of mulch thrown around existing plants helps this home show better.

When selling a home, little compares to the value that colorful plants and fresh mulch can add to the curb appeal.    An attractive landscape not only showcases pride of ownership, but plants are one of the few options that can instantly improve bad architecture or distract from a neighborhood eyesore with little to no expense or effort.

Take a Look at the Before and After pictures below.  You can immediately see the huge difference that colorful plants, mulch and a few dollars can make in the appearance of these homes.   

If you are convinced that improving the appeal of your property is a “must do”, adding color and tiding up your landscape is as easy as a stop by your local nursery.   Unless you know what plants to choose, arm your a picture of your present landscape.  Ask the experts what plants they recommend for your needs, then dig in.

If you want to learn about suitable plants and great idea’s, before visiting a local garden center, check out www.garden.org    Garden.org is a non-profit resource from the National Gardening Association.   The website is easy to use and features fun and helpful tools including: Plant selection screener; free seed swap; pest and weed control solutions; and much more.

A great website resource for detailed and reliable information about tree’s is www.arborday.org .  The website offers tree selection and identification, tips for pruning, fertilizing and placement.  They also give away Free Tree’s.   Become a member and receive 10 free flowering tree’s to use in your landscape, give as gifts or  plant randomly to improve the enviroment and beauty of your community.  The website also has fun and educational programs and give aways for schools and children.

If you are one of thousands of homeowners who have decided to sell your home, then do it now.  With more foreclosures and dropping prices predicted through the foreseeable future, there will not be a better time.

While our present housing market may not seem like the best time to get rid of a house, houses are selling.  If you need to sell, put my proven home-selling experience to work and start packing.

Pricing Game or Crying Game??

• Stop the insane practice of dropping your price a little trickle at a time.   The more times you drop your price, the more desperate you appear.  Buyers naturally assume everyone in town has seen your house and has crossed it off their list.  
• SLASH your price one-time and blow your competition away.   Go look at homes similiar to yours in your neighborhood.  Immediately drop the price of your home 10% less than your neighbors.  Buyers will come.

MLS Listing Power for by Owners:

• Take advantage of the MLS system for less money than a one-time classified ad.  The MLS sells 99% of all broker represented property and it will work for you, too.   The MLS system automatically sends your home listing information to millions of home shoppers each month, making it the most cost effective way to market your property, regardless of your location.  
• Put your home on the MLS today.  Visit www.why6percent.com or speak with a real live person by phoning them at their toll free line 1-800-381-9496, during normal office hours.   Why 6% is one of the MLS listing pioneers and has helped thousands of people sell their homes since 2004.

No Junk.  No Clutter. 

• You wouldn’t sell an old used car in a filthy condition with junk piled all around would you?   Then why would you try to sell a home filled with clutter?  Find a place to pack and store your personal stuff before you show your home to anyone. 

Curb Appeal.   The Munsters or the Brady’s?

• In years past, that purple front door and two foot tall weed patch you call a front yard may have not prevented a sale.   That is certainly not the case today.   Buyers are attracted to neat, clean and inviting.   With thousands of homes to choose from, buyers will simply drive by the house that looks like no one cares about it.   Show some pride of ownership and manicure your lawn and shrubery.  Fresh paint and inexpensive bedding plants that add color are also ”can’t go wrong” solutions.

If you hired the wrong Broker, Fire Them. 

• According to Realtor statistics, 90% of all business is done by the top 10% of brokers.  Given that brokers do not discount their listing fee’s based upon experience or success, hire a top producer.   Why pay 6% to an inexperienced or lackluster broker, when the same money will buy a pro??  Remember that brokers are salesmen.  If you have decided to pay thousands of dollars to have a broker handle your sale, hire the one who has proven they know how to work, and fire the one who doesn’t.

Thanks for visiting www.infotube.net.  If you have any questions about your sale or purchase, please contact us.  We have real estate experts standing by to assist you.

Selling a home is generally a nerve racking experience, even in a good market.  In a bad market, the difficulty in selling a home doesn’t stop with longer days on the market.  The negotiation phase is longer, too.  Smart buyers know the tables have turned in their favor and they negotiate for deals like never before.  

Smart sellers recognize the present environment and are anxious to negotiate a mutual agreement with any qualified party.  They are not offended by low offers, even if they seem ridiculous at first glance.   They keep their cool and realize that negotiating is a necessary, first step in the journey to sell their home.

Lowball Offers:

A lowball offer is one that is far below the home’s fair market value.   If your home is fairly priced at $250,000 and you receive an offer of $150,000…you have been low balled.   There is a huge difference between submitting an offer on the low end and lowballing.  

For the most part, low ballers are generally tire kickers, not serious buyers.  Many are graduates of “Get Rich in Real Estate for $1.00″ seminars.  They place often ridiculous offers in hopes of finding a deal, not unlike the Antiques roadshow personality that finds a Monet painting at a garage sale.  

When dealing with the lowball offer, the seller has options, but they should recognize the game and see if real interest exists.

• Sellers can reject the offer, which stops the negotiation in its tracks. 
• Sellers can opt to hardball and scruntinize every term of the offer, but the result is usually no progress, just hard feelings.
• The seller can choose to return a full price counter-offer, or one that is slightly less than full price, in hopes of continuing the negotiation.
• The seller can counter offer with a lower price and request that the buyer provide the comparable sales data used to arrive at the first offer price.  

Note:  Seller’s should always request a letter of pre-qualification, if one was not provided with the first offer.   It is a waste of time and patience to deal with a buyer that wasn’t qualified to buy in the first place.

If you have received a disappointing, lowball offer, try to find out as much as you can about the buyers and why they offered the price they did.  Before you show them the door, hand them a smart counter offer.  Not only will it keep the deal in play, you will learn more about negotiating with the next buyer.  

• Real Buyers don’t Play Games:   Real buyers often make an offer on the low end of the homes price range and see how the seller reacts.  Generally, sellers list at the high end of the price range, creating a gap.  The win-win for this situation to fire back a serious counter-offer that closes part of the gap, with sales data to back up your position.   Do not counter back with your bottom line price.  Buyers in this market will need to negotiate back and forth to feel they won a good deal.
• Is the Low Ball Offer a Reality Check??:   An low offer is not a low ball offer, if it accurately reflects current market values.   Many sellers do themselves a huge injustice by overpricing a property and leaving too much room for negotating price.  If your house has been for sale for months, or other homes like yours are selling, the “low ball” offer you receive may be one you seriously should consider.  Again, know your market like the back of your hand and price your home in line with your competition.
• Old Comp’s and Sales Data are Worthless:   If your home has been on the market for some time, you may need to revisit the current market value.   In a weak, declining market, prices keep declining.  If your house has been on the market for a long time, review all recent sales prices, before you reject any offers that appear low at first glance.
• Keep Your Cool:  Selling a home is an emotional experience for most of us.   Remember that as long as an offer is based on actual sales data, it isn’t insulting.  If you have an interested, qualified buyer, remain calm, patient, well informed and willing to pursue a deal.   Remember that the first offer is a fact finding mission and is not intended to insult.   The cooler head will prevail and close the deal.
• Take the Focus off of the Price:   Provide a list of ammenities included with your property.  Does your price include new appliances, granite counters, security or sprinkler systems that the buyer may not be accounting for in their offer?   Are you willing to help with the closing costs or work with them on the move in date?   Have you made improvements that save on energy bills?  If so, provide copies of your utility bills with your counter offer.  Have you remodeled or upgraded your home?  If so, provide warranties, contractor contact information, etc.
• Throw in a Freebie:   Many first time buyers don’t own lawn maintainence equipment, washer/dryers or kitchen appliances.   If you won’t be needing yours or don’t want to move them, throw them into the deal.   This often works real well with items like outdoor patio furniture, gas grills, storage buildings, hot tubs, etc. that are too expensive and too much hassel to move anyway.
• Play to Cash Strapped Buyers:   Often, buyers are tapped out by down payments, moving expenses and closing costs.  Smart sellers can possibly net more money by leaving the sales price higher and offering to pay some of the out of pocket expenses for the buyer.   Consider a counter-offer for the cash poor buyer that includes paying their closing costs or costs of repairs to the property.
• Low Ball Offer or Wake Up Call:   Many buyers heavily discount from the list price if the property is dated or in need of repair.   They often slash the offer price because they are uncertain how much money it will cost to update or repair the problem area’s.  Smart sellers can offer to take care of the fixes and repairs, so the issue of “how much will it cost” is off the table.      
• They’re Back:   Treat all real buyers with respect, regardless of how offended you may feel.  Many buyers will return to a home, even if the first deal didn’t work, if they like the owner and feel they are willing to work it out.   Be nice even if the deal falls apart, they may be back after some more house hunting.

In conclusion, whether the sellers reaction to a low offer is despair, anger or rage…it pays to remember there is more than one way to negotiate.  Consider all offers as serious and work from there. 

Qualified buyers should not be taken for granted in a weak, declining market.  Do yourself a favor.  Even if you can’t make the deal work out, calmly, stay in the game.  Use the experience to learn as much as you can before the next offer is presented.

As always thank you for visiting www.infotube.net.  Please send your questions to info@infotube.net and we will try to help.

Qualified home buyers are a scarce commodity in the housing market today.  And, much like fine wine, antiques, oil or gold, their rarity makes them much more valuable and clearly places them in the drivers seat when they begin to negotiate terms for a home purchase. 

Shrewd buyers have the power to cut a deal like never before, if they negotiate with finesse.  Finding a seller who will accept a low ball offer takes strategy, knowledge and time, but the payoff can mean thousands of dollars in your pocket now and later.

Tips for Presenting a Low Ball Offer:

1. Present a Clean Contract:  Dot your I’s and cross your T’s.   Present a complete, tidy offer and make sure everything is signed and initialed in the proper place.   Don’t ask for things that are not customary.  Shorten inspection deadlines.  Reduce or waive contingencies. 
2. Back up that Squeaky, Clean Contract with Facts:   Appear strong, qualified and ready to close.  Provide a pre-approval letter for the financing, when you submit your offer.   Provide the comparable sales data to back up your offer, so the seller can see why the offer is lower than the asking price.
3. Learn what motivates the Seller:  Price is not the only factor when buying or selling.  Knowing the motivation behind the sale can save you money.   For example, a seller who has school age children may accept a lower price, if they could lease the property back until the school year was over.   
4. Don’t add insult to injury:  If you are presenting a low ball offer, chances are the price will be insulting enough.   Most sellers are emotional about their home.  Don’t do further damage by criticizing the seller’s tastes with comments like “we will certainly have to get rid of that wallpaper” or by pointing out small problems like “the caulk in the shower is discolored”. 
5. Play on insecurity, but cut the negative comments:    Try to avoid negative comments about the house or condition unless someone asks you.   Great questions which raise doubt without raising tempers are “how many offers have you received?” “how long has your home been on the market?”  “how many houses are for sale in your neighborhood?”.   These type of questions create urgency without offending the other party.
6. Consider hiring a buyers agent:   Buyers often call the listing agent for property information, falsely thinking they will get a better deal.   Nothing could be further from the truth.   The listing agent, by law, must do everything possible to get the best offer for the seller paying the commission.  A buyers agent has only a duty of fairness to the seller, but their fiduciary obligation is to the buyer.   Additionally, Redfin and other buyer broker agencies kick back up to 2%, so you earn money while they do the dirty work for you.
7. Plan on Making Multiple Offers:  If wheeling and dealing for a great price is the goal, expect to make offers on at least 10 properties.   The odds of finding a desperate seller who will entertain your low ball offer increases with the number of sellers you present offers to.
8. Time is of the Essence:  Include a time deadline of 24 hours on any offer you present.   In addition to alerting the seller that you are prepared to walk away, a time deadline creates a sense of urgency and compels a response to your offer.   It also limits the time sellers can shop for a better offer before they respond to you.
9. Take the Focus off Price Only.  Sweeten the  Pot.  When I present low ball offers, I always ask the buyer to give up something else to entice the seller.   Consider offering a larger than normal security deposit.   Waive inspections or repair clauses. Pay your own closing costs.  Move up or delay the closing date.    Accept imperfections and shortcomings in the property condition.
10. Expect a Counter Offer:  Rejection is a normal part of negotiating.  Don’t make an offer that you think a seller will accept and don’t be upset if the seller turns you down, flat.   All sellers feel their home is worth more than the one next door.  When presented with a counter offer, always respond back, if you want to buy the home.   As a general rule, I always hope to make the seller say “no way” at least twice before I feel the deal may be falling apart.  
11. Let The Seller Sit:  Be prepared to walk away, if negotiations are at a stalemate.   Most sellers will negotiate further after more time on the market with no sale.   Keep your original files on any home you have made an offer on, but always update your data before going back to the seller again.  If the market has fallen further or is expected to fall further, you may find that your offer now looks a lot better than the “one in the bush”.

Thank you for visiting www.infotube.net and happy home hunting!!

Home Buyers are in the enviable drivers seat when shopping for a home.  Big savings can result from lowball offers, if they are presented and negotiated smartly.

The Best Case Scenario for Lowball Offers

1. The property has been on the market for at least 120 days.
2. The sales price has been reduced 3 or more times.
3. At least a month has passed since the last price cut.
4. Sellers have a compeling reason to move such as death, illness, divorce or job loss.
5. Homes advertised as “all offers considered”, “willing to negotiate” or “must move.”
6. Neighborhoods with an inventory glut and heavy competition.
7. Sellers who have owned the property for over 5 years. 
8. Homes that are back on the market, after being under contract.

Tommorow we will look at presenting and negotiating a lowball offer.  

Thanks for visiting www.infotube.net

In an effort to soften the sharp housing downturn, the Senate recently passed a $150 Billion Bill to provide relief for homeowners, in theory, for homebuilders, for certain.

The “foreclosure relief” bill, which now moves to the House for approval, sounds helpful, but falls shamefully short on solutions or assistance for homeowners losing their houses.   In fact, the only set aside for those facing foreclosure is a $100 million in counseling assistance, which possibly makes sense to prevent over-borrowing, but accompishes nothing after the fact.

Relief for Homebuyer’s received a mention in the bill, but the real help offered was for the benefit of bankers, developers and builders.   

The bankers and builders receive a $25 Billion Dollar Tax Rebate and plans to steer buyers to their foreclosed properties, with the lure of a $7000 future tax credit.   The bill provided a $0.00 tax credit, if homebuyer’s purchase a home owned by anyone else.

Translation:  Homeowners, who are paying their mortgages on time, will suffer an immediate $7000 loss in home value, as they attempt to compete against lenders, builders and developers when selling their property.

In Conclusion:   The $150 BILLION Dollar Relief bill harms taxpayers and homeowners, and does little for families in financial trouble.  The only “help” offered is for the politicians, banks and the powerful, cash laden, National Association of Home Builders, who threatened to stop handing over millions of dollars in campaign donations, unless they were cut in on the taxpayer give away.   The result.  When the votes were counted… the money counted more.  The Senate sealed the deal by a 84 to 12 margin.

Question:  Have we had enough, already???   Don’t you think if the US Congress really wanted to help the housing market, they would simply offer a $7000 tax credit to anyone who buys a home that they intend to live in (ie: no investors), no strings attached???    Instead, homeowners and buyers are penalized in favor of the banks and builders who likely created this mess in the first place.

Action:  I urge everyone who cares about their home to immediately write their State Representive in protest, before this bill is passed.    We don’t have millions of dollars for lobbiest or bribes to get their attention, but we do have numbers and the power of the pen on our side.

    If the seasons have changed and your home is still on the market, do yourself a big favor and update your photographs.  There is nothing that turns off buyers and screams “Stale Listing” like the picture of a snowy lawn in the height of spring.

The spring selling season is the kick off for home shoppers who are sick and tired of winter glum.   Play to your audience and replace those dismal, gray, outdoor photo’s with ones of bright flowers, blooming tree’s and green grass.   And, if your area hasn’t welcomed spring yet, fudge a little and use ones you took in prior years.

Please don’t forget check your interior shots, too.    Replace any of those that are dated or make your home look cold and uninviting.   Buyers don’t find those photo’s of Christmas decorations, snow on the patio or roaring fires inspiring in mid-April.

Changing your photo’s at www.InfoTube.net is easy and quick.   Stage your shots and upload them to your computer.  Be sure to name and number them so you remember what each photo is and the order of appearance.  (Note:  Watch our 2 Minute How To Upload Photo’s Video) Then, log into your desktop and click Edit Photos.   Replace all the dated pictures and congratulate yourself on going the extra mile.

Remember, our business is helping you sell your home and we want you to look good.   Nothing attracts buyers like a good picture, so do your best and happy spring!!!

     Southern California home prices continued to fall at a record pace in February, and are now at 2004 levels, a real estate information service reported today.

The median price for a Southland home last month was $408,000, down 17.6% from a year ago, according to DataQuick Information Systems. Area home prices have now fallen 19% on average from their peaks last year.

The steep price declines are putting many more homeowners “upside down” — owing more on their homes than their homes are worth. Forecasters say foreclosures will likely continue to rise and prices will fall further.

About one-third of Southern California homes sold in February had been foreclosed since January 2007, according to DataQuick. A year earlier, previously foreclosed homes accounted for 3.5% of sales.

BREAKING SOUTHERN CALIFORNIA HOUSING NEWS

Since September, each month’s sales totals have been the lowest for comparable months since 1988, DataQuick said.

The rapid pace of the decline has led Los Angeles economist Christopher Thornberg, who last year predicted a 20% decline in Southern California home prices, to revise his projection. He now thinks prices will fall 40%.

In the last real estate bust, Southern California home prices dropped 19% between 1991 and 1997, according to DataQuick.

The median down payment on homes purchased last year was 9%, according to the National Assn. of Realtors. With median prices down by more than that percentage in Southern California, it is likely that the typical homeowner who bought last year is now upside down. Last week, the Federal Reserve reported homeowners now own less than half the equity in their houses, the lowest level since 1945.

UCLA Anderson Forecast Director Edward E. Leamer also believes home prices are still declining. He had predicted a 20% to 25% decline from the peak.

Leamer thinks his prediction is still on target, and that other indices show a slightly smaller price decline so far. The Case-Schiller Index, for example, shows Los Angeles and Orange County home prices to be 15% below their peak. That index, Leamer said, shows the market is still correcting itself.
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With falling home prices, rising energy prices and expanding waist lines, a walkable neighborhood is always in demand.   A play on that idea is found at a new website which identifies walkable neighborhoods in any town.   

Check out the “walkability” of your neighborhood by going to www.walkscore.com .  Enter a property address and the website will rate the neighborhood on a scale from 0-100 on how easy it is to walk in the area and destinations within a one-mile radius.   Walkscore.com makes it fun to identify grocery stores, shops, churches, parks, etc. in any neighborhood and also provides info on area demographics, crime, etc.  

If you are buying or selling a home, visit the walkscore.com website and check out your location for walkability, community and accessibility.

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