Short Sales, Not As Easy As 123...

Short Sale Video
For those willing to go the distance, short sales are sometimes the best option available. This is when experience counts... contact a qualified, experienced Broker to assist you if you find yourself in this situation. (video courtesy of CBS News)

Keller Williams Realty Bucks National Business Trends

Keller Williams Realty Bucks National Business Trends During the Toughest Real Estate Market on Record

RISMEDIA, January 29, 2009-Bailout. Credit crunch. Foreclosure. Despite these words permeating the headlines and airwaves, there are companies out there moving forward - even in real estate. Keller Williams® Realty Inc., the fourth largest real estate company in North America, announced that it outpaced the market in 2008, while remaining free of debt, and gave back more than $30 million in profits to its agents.

“Our strategy is no secret. We faithfully follow the sound financial model of leading with revenue - the same model our market centers follow,” said Mark Willis, CEO of Keller Williams Realty Inc. “As we watch companies throughout the country take on billions of dollars of debt, we are proud to say that our company has not one dollar of financing debt and we remain strong and financially sound. It is our joy to be able to give back to our agents during these times.”

Despite pervasive downward trends in the real estate industry, Keller Williams Realty continues to outperform the industry. For the first 11 months of 2008, existing home sales for the United States fell 17% when compared to the same period the year before. By comparison, Keller Williams Realty is poised to outdo those numbers by 10 percentage points, and in addition, the company experienced a much smaller contraction in its agent base compared to the National Association of REALTORS®, who saw a 10% decline in membership.

“Keller Williams was founded 25 years ago during one of the toughest markets on record - when interest rates were higher than 18 percent. We continue to urge our agents to zero in on lead generation and reducing expenses so they can thrive during this market,” said Mary Tennant, president and COO of Keller Williams Realty Inc. “We admire our agents’ spirit, tenacity, and dedication to their businesses. They just keep powering forward.”

Throughout 2008 Keller Williams Realty launched new products and services specifically to boost its agents’ businesses, including two new books: Your First Home: The Proven Path to Home Ownership for first-time home buyers, and SHIFT: How Top Real Estate Agents Tackle Tough Times. Both books are written by Gary Keller, co-founder and chairman of the board of Keller Williams Realty, who also authored national best sellers The Millionaire Real Estate Agent and The Millionaire Real Estate Investor.

For more information, visit www.kw.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

No. 2, and that ain't bad!

Thursday, January 15, 2009

North Carolina Mountain Homes Top Lucky 7 Forecast

The Lucky 7 Forecast is intended to provide investors with the top seven areas to invest in, nationwide. In June, the top seven picks included the following areas:

1. Austin, Texas
2. Asheville, North Carolina
3. Houston, Texas
4. Albuquerque, New Mexico
5. Salem, Oregon
6. Boise, Idaho
7. Grand Junction, Colorado

According to The Lucky 7 Forecast, the Asheville area and its surrounding mountain region of Western North Carolina has been an exception on the national scene; it has been strongly appreciating for the past few years. The forecast predicts continued strong growth with many well-designed developments planned in this thriving region.

Taken from The Housing Predictor

5 Tips to seeing a house in a slow market

It's no secret that the days of houses selling like Beanie Babies are over. After real estate appreciated at jaw-dropping rates during the first half of the decade, home prices and sales tallies have dropped precipitously in recent months—tilting market dynamics to favor buyers over sellers. That doesn't mean your house won't sell, just that the playing field has changed. So here are five tips to help you get a timely sale at a fair price in today's reshuffled housing market.

The slowdown doesn't mean your home won't sell, but it demands a different approach.

1. Make those repairs. While in years past it may have been enough just to cut the grass and retouch the paint, anyone looking to sell in today's market will have to take care of those more onerous repair projects as well. "The buyer that might have bought a fixer-upper five years ago now has an opportunity to purchase a short sale or a foreclosure," says Ronald Phipps, president of Phipps Realty in Warwick, R.I. "So if you have a property that needs a lot of work, you are competing against real estate-owned [properties] that are compelling rather than interesting." So fix the leaky roof, call the plumber, and rebuild the staircase. "The modest repairs should be done," Phipps says. "Frankly, repairs period should be done."

2. Price to the market. Unfortunate though it may be for sellers, demand for real estate has softened significantly. That means, in many cases, sellers will have to bring down their asking price below what the house might have fetched just a couple of years back. "The best advice that real estate practitioners can give [home sellers] is, 'If you aren't prepared to sell at fair market value, then you probably ought to wait,' " Phipps says. "The properties that are selling are selling at or slightly less than fair market—it is very, very rare to have a premium house."
By setting an asking price above market value, homeowners risk driving potential buyers away. "People think, 'Well, I'll run it up the flag pole at [an above-market] price, and people will come along and make a [lower] offer. That is not really happening in this market," says Elizabeth Blakeslee of Coldwell Banker Residential Brokerage in Washington, D.C. "If people perceive your property is being overpriced, they will just move on to the next." Lowering the price may be difficult, but if you want to sell your home in today's market, grit your teeth and do it. "There is a buyer for every property if the pricing is right," says Lenn Harley, a broker at Homefinders.com.

3. Know your agent's stats: Finding an agent with experience selling homes in your market will help ensure correct pricing. When deciding on a real estate agent, find out how long it usually takes him or her to sell a house. It's best to choose an agent whose properties sell in an average of three or four months, a time frame that indicates the agent understands how to price the market, Harley says. "An agent whose average is six months is too long," Harley says. "Talk to an agent that has experience selling in your market."

4. Be flexible. Ensuring that your house is ready to show at all times will make it easier for prospective buyers to see it. So make your bed each morning and clean up the dishes before heading off to work, just in case someone may want to come by at the last minute. In addition, homeowners should be willing to disappear on Saturday and Sunday afternoons if potential buyers are free to see the property. "Access is very important," says Shari Kruse of Prudential Northwest Realty in Seattle. "Things like limiting the hours of showing or requiring an appointment because you have a pet are reasons for real estate agents to bypass your house when they go to show."

5. Bite your tongue: If a potential buyer comes in with an offer you consider too low, resist the urge to turn up your nose, Blakeslee says. After all, it takes a considerable amount of paperwork to make a formal offer, so even a low bid signals interest. "You need to respond—even though you are indignant and insulted," Blakeslee says. "Do a serious counteroffer. You have nothing to lose by countering, everything to lose by rejecting it out of hand."

Taken from US News & World Report
5 Tips for Selling a House in a Slow Market
By Luke Mullins
Posted April 15, 2008
http://www.usnews.com/articles/business/real-estate/2008/04/15/5-tips-for-selling-a-house-in-a-slow-market.html

Great Article on WNC Real Estate

Open House Schedule

Some great open houses in our area this weekend. If you interested in any of these homes, please give our office a call.

Fall is in the air!

Here in Asheville, NC, we are starting to see the early signs of fall. Temps are falling slightly and everywhere you go people are noticing that Thanksgiving is only 12 weeks away and Christmas is not far behind. Today our team is attending a seminar with Zig Ziglar at the Asheville Civic Center. He is one of 7 speakers today being motivational advice to this area.

Pat and Donna are really enjoying the seminar today and hope that they can bring back knowledge and ideas to help our community.

We are also working on our application for the Asheville Christmas Parade. We are trying to come up with a great creative idea for our float. Many people know Pat and Donna and our team from the Pat & Donna Road Show on 96.5FM and by the bright red Durango's with their names on the back. Don't be surprised to see those Durango's in the parade.

If you have any questions for Pat and Donna, please give our office a call at 828-277-8685.