Clark Cook

When selling a home , two situations may occur which are red flag indicators of a lengthy sale time. Each requires the property owners' attention in cooperation with their sales agent, and involves either the price or condition of the home.

The first involves a home that has been on the market for 60-90 days, but has been shown only once or twice. More buyers are beginning to enter today's real estate market, and homes for sale should be attracting a number of prospects.

When buyers choose not to tour a home, the reason is often the price. Homes that are attractive, but not being shown, are often priced "above" the market. The key to increasing showings, then is to learn the market price of the home, then reset the price.

The second "red flag" occurs when a home is being shown often, but neither sells nor attracts offers. The home's condition is often the culprit in this situation. Buyers learn the price, then drive by, making a judgement that it is an attractive home. Once they see the home, however, their interest evaporates.

The solution can be a critical "walk-through" by the sellers' agent to identify needed repairs and cosmetic improvements. Until corrected, traffic is likely to remain high, while the chances of selling remain low. Remove these red flags and prepare for a sale!

In real estate investment, one person's misfortune is another's opportunity. Indeed, with so many foreclosed properties on the market, buyers are poised to take advantage of a literally once-in-a-lifetime chance at investment or ownership.

Every opportunity presents some challenges, however, and you'll need more than luck to effectively buy a distressed property. These transactions are more complex than traditional sales, and you are strongly advised to seek the advice and representation of a real estate professional well versed in this new marketplace.

While a bank-owned home may look like a great deal, don't assume that any offer will be accepted. Most banks list their foreclosed properties through real estate brokerages, and while they want to sell as quickly as possible, the listing agents have a fiduciary responsibility to get a good price for the owner.

An insultingly low offer can table the transaction permanently, so proceed with common sense and a trusted representative. Keep in mind when negotiating your offer that you should have an additional 10% of the price tag set aside for repairs. A foreclosed property, particularly an older one, will almost certainly require some overhauls.

In addition to your agent, consult with a local real estate attorney who can advise you about current foreclosure laws, which vary significantly from state to state. Know exactly who's at the door when your opportunity knocks!

I want to address an issue potential buyers should consider. This is aimed at first time buyers who may not know what to expect for their money. If you are working with a limited budget, let's say less than 100K, and you are looking for NEW houses... forget it! In The Fayetteville Area you have to spend at least 130K for new construction. That being said, accept that older properties will have evidence of their age. Meaning they will not be perfect. You think that would be an automatic assumption on the part of the buyer, but not true.

If you are selling, understand that buyers will notice little things, and you should not let that kill your sale. Example, cigarette burns on counter tops. Repair or replace this before your house shows. If you are going to sell your house please go outside and smoke. The smell of tobacco is a turn off for a lot of buyers. If you paint, make sure lines are straight, and colors match. Try to avoid spot painting unless the colors match. If you have peeling wallpaper, glue it back up or take it down and paint. These are easy fixes so don't let them kill your sale.

The fact is there are some agents who are so happy to get a listing that they'll put a house on the market before it's ready to show. Many times without even pointing out to the seller what they should do to prepare their home for showing. This is a mistake! I understand that every situation is different and some sellers don't have the money to make repairs. Some homes should only be shown to investors, or buyers who are looking for fixer uppers.

A house is not a home until you give it a little tender loving care. So buyers be reasonable when looking at older homes. Remember, you get what you pay for. And Finally, if you live in the Fort Bragg Area and you want to sell your home, you can get a professional home evaluation that's quick, convenient, and FREE! Get your home ready so that it sells quick, and for top dollar! And if you are buying, contact me to preview the finest homes for sale in any price range.

Initially this may not seem relevant, but before I'm done it will. Recently I've heard a lot of talk about class envy, socialism, and redistribution of wealth. Well, if everyone would just stop and take a moment to look at what is really happening, perhaps they would see a silver lining amid all the doom and gloom. You see my take on the whole situation is that it's deception by design. It's so simple, so basic, and it works every time. It's the jungle tactic of survival of the fittest, where only the strong survive.

What has happened in America is there's been a shift in political power. And the ideology of the former administration that dominated the way business was done, is diabolically opposed to the new administration and their agenda. It is perceived by the opposition that capitalism is threatened. So what we see is that the rich and powerful, and the institutions with money have pulled out of the stock market in an effort to force their will upon the masses. It is as if they've taken their ball and bat and gone home. Their withdrawal has caused stock prices to fall so fast that panic has set in, and the general public wants out of the stock market before they loose all of their life's savings, namely their 401K's. The rich and powerful have knowingly positioned themselves to make huge profits because the reaction of the masses was predictable.

Once the market bottoms out, the rich and powerful will suddenly, with massive amounts of cash, rush back into the market overnight, and drive stock prices back up to levels higher than before. Then the news will break that confidence has been restored, and that it's safe to invest again. The signal will filter down to the general public and they will buy in at higher prices starting the cycle all over again.

This is the part you've been waiting for. For those of you who are not too timid, BUY NOW! Buy real estate and stocks NOW! What the rich and powerful have knowingly and brilliantly done is create a climate where prices are low enough that most working people can afford to own a piece of the economic recovery, because the economy will recover. The only unanswered question is when? But rest assured that unless the whole world economy collapses, your bet is safe. Be quiet, be confident, and be patient.

First time home buyers can qualify for a tax credit up to $8000. This is not a loan! Imagine this. It's January 2010, and you just filed your tax return. But, in 2009 you bought your first home. Well, on top of what you would normally get back, add a whopping $8000. Now how's that for a stimulus? But before I say another thing, check with your tax advisor first.

Interest rates are very low... new and existing homes are abundant. NOW is the time for anyone with good credit to make their move. Everything runs in cycles. Happy days are here again. Take advantage of the opportunity while it exists, because it will not last forever!!! This is not the time to be skeptical. Real estate is a good long term investment. You don't want to be one of the ones saying I wish I had. I would never suggest anyone buy more house than they can afford, but why pay your landlords mortgage? Why not flip the situation around, and instead of renting, BUY!!! Doesn't that make more cents?

This is especially true for our active duty military. Your basic allowance for housing (BAH) makes your mortgage payment which means Uncle Sam is building your equity. Isn't it foolish to not take advantage of what you are given? Get plugged in with a company, and a Fayetteville agent that can deliver. Don't waste time or money paying rent. Talk with your better half and see if he/she does not agree. $8000 is a lot of money to let go to waste. The choice is yours. If you are going to be in the Fayetteville area anyway for the next three years or so, why not claim some equity and leave the area with some CASH instead of a pile of rent receipts.

If this sounds like a hard sell, I'm sorry. But remember, there are more than 1,800 real estate brokers in the Fayetteville / Fort Bragg Area, and you don't have to call me, but DO call a REALTOR today. America is the land of opportunity for those with the guts and smarts to seize it!! Buy NOW or forever hold your peace!