About Osceola County, FL

In response to your counter offer, BofA will not budge. They rejected your offer of $500. Below are the 2 options they have given.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Real Estate marketing is the cornerstone of our business. If you read the featured post here on Active Rain yesterday INTERESTING INFO ON WHO IS BUYING AND HOW THE MARKET HEALS ITSELF FROM THE BOTTOM UP a recent survey shed some interesting light on how the market is changing and how those changes are affecting sales which are on the rise.

LESS THAN 1%

A Nationwide survey recently revealed that less than 1% of all home buyers who purchased their homes in the past year did NOT learn about the home they purchased from a Home Book or Magazine. If you are spending your advertising dollars in this medium you may want rethink it. You are missing 99% of successful buyers.

In fact 90% of them, used the Internet at some point prior to purchase. They generally started their search online and then contacted an agent. What sites were they visiting? Local MLS sites were the most popular (60%) followed by Realtor.com and Real Estate Company site (46% each) Real Estate Agent Web site were a close 4th at (45%)

MARRIED -VS- SINGLE, WHO ARE BUYING MORE HOMES?

Overwhelmingly 60% of the buyers were married. 21% were single women, outnumbering single men by over 2:1 (single men accounted for 10%)

BUYER RESOURCES: CHANGE FROM POINT OF ORIGIN TO CONCLUSION

Interestingly enough how they begin the process and how a buyer will ultimately end the process by completing the transaction change from the the beginning point to the conclusion.

87% Relied on a Real Estate Agent

WHERE ARE BUYERS BUYING?

54% of all homes purchased were in a Suburb or Subdivision.

Quality of Neighborhood was the number one influencing factor in the decision to purchase among 64% of the buyers surveyed.

26% felt schools were important

COMMUTING COSTS

Only 36% of the buyers felt commuting costs were VERY Important

Compared to 42% who felt they were only somewhat important.

What these numbers suggest is that the quality of the neighborhood still outweighs the convenience of the commute. 78% of the respondents had purchased a single family family home. In the suburbs, giving consideration to the quality of the neighborhood or subdivision, and and smaller more economical sizes of homes than were in demand 2-3 years ago.

Knowing how to market, to whom we are marketing and the best ways of reaching potential buyers will help us to streamline where to investment marketing dollars for successful sales.

EFFICIENCY DID HAVE WEIGHTED INFLUENCE?

On average 1600 square feet was the size of the home most first time home buyers selected, and 2100 square feet for second time or repeat buyers. This is sharp contrast compared to previous years where buyer demand was for large homes.

88% of buyers said heating and cooling costs were important. This couold be one reason they are trimming the square footage of the homes they are buying on a National average.

HOW ARE YOU INVESTING YOUR MARKETING DOLLARS?

The market always heals from the bottom up" according to Paul Bishop, National Association of Realtors Vice President of Research. According to the recently released sales numbers 47% of buyers this past year were first time home buyers. Surpassing the previous high record of first time purchasers set back in 1991

"These buyers are critical to housing and a general economic recovery ...they absorb inventory, free existing owners to make a trade and stimulate related goods and services " said Bishop. He compared this rise to the last recession in 1991, where the same dynamic played out "first time home buyers started the chain reaction that led the nation out of recession" he said. Bishop credits tax incentives,record high affordability, and pent up buyer demand to this spike in recent sales. Economists would also credit the FED with suppressing any immediate rise in interest rates affecting home mortgages while the economy is still so fragile.

BUYER PROFILES ARE ALSO DIFFERENT THAN ONE WOULD EXPECT

The median age of a first time home buyer is 30 indicating that some are younger and some are older. They are planning to live in their homes for at least ten years. The typical cost Nationwide was $156,000 down 7% from last years figure of $165,000. 87% of First time Home Buyers surveyed consider their home to be a good investment." Single Family homes sold a higher rate than other forms of housing. In fact 78% of the home achieved were single family homes

HOW ARE BUYERS PAYING FOR HOMES? 96% Chose a fixed rate mortgage. (55% used FHA compared to 8% Using VA Programs) 61% of First time buyers used their savings as a down payment. 22% received down payment assistance as a gift from family. 6% received loans for down payments from family 6% tapped into a 401 (k) program

WHAT IS OLD IS NEW AGAIN- SAVING MONEY FOR A DOWN PAYMENT ON A HOME

39% of home buyers have cut back on luxury items, 38% cut back on entertainment and 30% cut back spending on clothing according to the study.

And a staggering 80% of first time home buyers are using the Internet.

HOW HAVE RECENT CHANGES IN REAL ESTATE AFFECTED SALES?

13% Experienced a Purchase Agreement that was canceled, terminated or fell through "This raises the question of how many potential buyers were unsuccessful because of problems with appraisals or loan qualifications. The market would be stronger without these problems" Bishop added.

Only 8% of applicants were rejected for loans (a 92% success rate) 12% of applicants said that financing their first home was more difficult than they expected. 8% of all buyers paid cash.

85% of Successful Home Sellers used a Real Estate Professional. Sellers surveyed want agents to price their homes competitively, find a buyer, market the property and sell within a specific time frame.

THE TAX CREDIT EXPANSION INTO 2010

The expansion of the tax incentive program will extend to homes placed under purchase agreements by April 30, 2010 and will include home buyers who have owned a home in the past 5 years.

Repeat Buyers surveyed had an average age of 48, earning $88,100 and plan to stay in the homes they purchased on average for 12 years. These buyers typically bought more expensive housing. The median price on a National level was $224,500

RECORD DECLINE IN FOR SALE BY OWNER PROPERTIES.

In the actual number of homes sold without representation was a record low according the most recent survey only 6%. Declining for the second year in row.

The most difficult tasks reported by owners attempting to sell homes themselves were,; preparing and fixing the home, understanding and performing the paperwork and selling within the planned length of time.

The overwhelming majority of successful sellers used a Real Estate Professional full service brokerage.

Want to know more about how to Marketing works?

***Check out this little chart:

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

How many times have you heard "I want to buy a foreclosure so I can get a deal" and "I was told I could buy foreclosures for 20% less than asking price"?

I hear these things every day. It's frustrating when you try to explain the "market" to potential buyers and they don't listen to you. I'm sure they figure that all we are really doing is trying to sell them. Well they are right. We do want to sell them a house. BUT...we also want to make sure they get  the house they want and are able to buy a house.

In my market, Kissimmee Florida, the well priced foreclosures are flying off the shelves. It is imperative that buyers understand the market or they'll end up without a property at all.

So....hopefully this article will help you to understand the market in my area. As you can see, there were only 21 REO (foreclosures) properties that sold in Poinciana Florida between 1 October and 14 November 2009 that fall within these parameters:

• Built in 2000 or later.

• At least 1500 sq ft living area.

• Priced less than $65,000.

Of the 21 sales only FOUR sold for less than the asking price. The average was 110% of asking price. That means a house priced at $60,000, on average, sold for $66,000. This means if you are looking for this style of property offer at least asking price and be prepared to go higher.

Knowing what a property is worth will make it easier to prepare an offer that will be accepted. That's where we come in. Does this help?

Here a list of the properties used for this report with their asking prices and selling prices. Check it out.

Florida Foreclosure Report

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved