Crystal McCall ABR,CRS,CRB,GRI,SRES,CIPS

WE ARE DESPERATE TO SELL OUR HOME, WHAT DO WE DO????

This has become a daily challenge to many Americans across our country. We are very use to the
normal process of people selling their homes so that they can move up and buy a new home, just
because they want one. Today, we have families faced with the challenge of loosing their homes
not only because of changing mortgage interest rates which make it prohibitive for the homeowner
to pay the mortgage, but now we have job lay-offs, severe unemployment and many other factors
facing homeowners causing the feeling "we are desperate to sell our home, what do we do?"

Today we are experiencing the real estate market of "effective pricing". Many neighborhoods are
having foreclosed properties pop up all around them and these are the only properties selling, which
are causing the prices to decline all around them. Price Reductions are an urgent factor of successful
selling in 2008-2009.

I had the pleasure of spending some time with David Knox, an international sales trainer in the real estate industry at the National Association of Realtors convention this month in Orlando, Fl . He is a top authority on Pricing, Negotiating, and Selling Real estate and has trained for the Certified Residential Specialist cadre as a top instructor since 1979 and writes the courses for successful real estate agents all over the
world.

Knox has long been teaching the effectiveness of pricing the property correctly from the beginning.
He encourages sellers to review how many properties have expired this year as the competitions around
them have long sold while prices have been declining. What do you think would happen if the property
is priced great from the beginning? It would SELL!

We have long heard dialogue such as "Couldn't we just try it at a higher price?" "We can always come
down" and "they can always make an offer". Yes, all these things can happen but they do not today!

I have not heard one buyer say, "show me nice homes and then we can make an offer." The conversation
goes more like this, "I only want to look at foreclosures or short sales. My money has gone backwards
and I want a great buy or we won't buy!"

If you really need or want to sell, price it right from the beginning. Pricing is like the Electoral
College. It is fine tuned. Yes or no-sell or stay. There is no in between.

When you are pricing your property today, look beyond your personal needs and property. You have to
understand the Buyer is influenced by the media sharing stories of declining markets all over the
country. They do not discuss the area that has held its value. Look at the number of foreclosures in
your community and what you do not know, how many pending foreclosures that will come on the market
as your competition.

This is the time to focus on net gain. Not what your appraisal was in 2005. Price it in front of what
your appraisal would be today. Also, consider the absorption rate of sales in your market. Your local
Realtor can help you with this. You have to consider how many sales are taking place versus the inventory
available.

Consider the end, what you buy today to replace your current property, hopefully will be purchased in the
same lower priced market you sell in. The value increase expected over the next 5-10 years will then be
available for a gain in your market price.

Further information needed, please feel free to contact me at Crystal@CrystalMcCall.com or visit http://www.CrystalMcCall.com

With a surplus of homes on the market, it is defiantly a buyer's market. There have never been so many opportunities to buy a home at such a reduced rate. Mortgage rates are low so what's that delay? Given the recent news with the mortgage crisis and bank failures, many banks have tightened their guidelines. But does this mean that banks aren't lending? No! Qualified borrowers are still getting loans.

If you are just starting out in housing market or are just wondering what the guidelines are in this market, here are few tips to get ready:

1.) Build a savings for a down payment: Yes, 100% financing is gone and will not be back in the foreseeable future. Buyers need to be prepared to put down between 5%-20% on a home to secure conventional financing with a bank. Those putting down the lower of the down payments will only end up paying more in mortgage insurance. Some buyer's who qualify will be allowed to put down a lower amount through FHA loans depending on the program.

2.) Emergency funds: With an uncertain economy, the latest advice to all home owners is to save at least 6 months of mortgage payments for emergencies. Banks like to see reserves; it gives them the added assurance that you have some cash flow. There are insurance plans out there that are available for coverage of the mortgage in the case of job loss (Job Loss Insurance), but as with anything, there is fine print and you may not qualify in certain situations. It's a nice idea to purchase something like this for added assurance, but the money reserves in the bank is the best way to protect yourself.

3.) Choose a qualified Mortgage Originator: Get a referral from people in the market - such as local Realtors , friends or trusted colleagues. Look for someone with plenty of experience and follow up with internet research to see if there is any feedback on them positive or negative. It's important to also make sure your mortgage originator will take your needs and situation into account when helping you choose a mortgage program. Make sure they have plenty of experience in working with FHA loans (FHA certified). FHA has guidelines that originators must go through to gain that status.

4.) Get Pre-qualified: Now that you have chosen who you are going to work with for a mortgage, it's time to get pre-qualified. This is the best time to learn how much house you can afford, what programs you will qualify for, what the rates and loan details will be and what you need to do to make the process go smoothly and quickly. You may find that in order to qualify for a better loan program, you need to make a few adjustments to credit or bills or, clear up an error. Plus you will learn what you need to gather for the bank in order to expedite your loan when you are ready to make an offer.

5.) Read the Fine Print: Sometimes mortgage programs can offer great deals with rates lower than everyone else, If it sounds too good to be true, it just may be. Check out the fine print on the mortgage to make sure you are getting the type of program you think you are. Some programs only offer a low rate for a certain period of time before it changes. Be aware of what program you are agreeing to before you make an offer on a house. A reputable mortgage originator should explain each program to you. Be an informed consumer and do your research before agreeing to a program.

6.) Home Shopping - Find a Realtor: If you are ready to shop homes, it's time to choose a Realtor. It's a good idea to find a Realtor who knows the market you are interested in very well. Make sure you communicate your needs to the Realtor ahead of time. Start with identifying the types of neighborhoods you are looking for, size of home, details such as schools or land and any amenities that matter to you. Realtors will be able help you determine if a neighborhood is a good buy based on its ability to hold its value or if it's on the decline due to excessive foreclosures or other issues - this gives you the opportunity to get the most for your investment. If its great deal you are looking for, it's a good idea to also look for a Realtor who is also specialized in short sales and foreclosures - they can search many databases to find you a great deal. When ready to make an offer, your Realtor will walk you through the process of the offer and contract contingencies.

7.) Lock that rate! Once you are ready to make an offer, speak to your loan originator about locking your mortgage rate. In these uncertain times of market fluctuations, a small increase can make a difference in payment.

Shopping for a home can be an exciting time. There have never been so many great buys on the market at once. When qualified, you will find yourself with many opportunities to get the house of your dreams. This is a buyer market so take advantage of what it has to offer!! Following practical advice with experienced, qualified professionals will make the difference between smooth sailing and choppy waters ahead.

If you are interested in learning more about the Ocala area and The Villages or want more home buying advice, please visit my websites Crystal McCall.com and Ocala Home Source or give me a call!

If you are looking for advice or want to take advantage of what the real estate market in the Ocala area and The Villages has to offer, don't hesitate to contact me! I will be happy to help.

Crystal McCall
Keller Williams Cornerstone Realty
Serving Ocala-Marion County, Summerfield and The Villages
Toll Free: (800) 391-8354 Ext:0
Local: (352) 547-1077 The Villages: (352) 267-7846
Email: Crystal@CrystalMcCall.com

In our current economy we are facing many challenges. The housing market has been hit hardest yet many people still have to sell their homes for a variety of reasons. With so much housing inventory on the market how can you compete?

The key to aggressively marketing your home is to be flexible and competitive. Being willing to offer the buyers a great incentive, keeping things simple and by being willing to make a deal can make the difference on whether you sell or don't sell.

Here are a few ways you can be competitive and stand out:

1.) Get an experienced real estate agent to list your home - Despite the urge to save money on commission. FSBO (for sale by owner) is not proving to work in this economy. A Realtor will market your home. They have multiple listings services that get your listing out to be viewed by a larger audience. In addition to the MLS (multiple listing service), Realtors have many other marketing networks in place to capture the buyers who truly are qualified.

2.) Price it right the first time- be flexible - Choose a price in front of the current market value. This puts your property in a competitive position. In a weak real estate market, many home values have declined. It's important to understand what homes are going for in your market. Start with a comparable market analysis from an experienced Realtor who will know the home values in your market. You should also check out the competition. Look at how homes similar to yours are priced and see what recently closed homes have sold for. A good starting point for a market snap shot is Zillow. In a stable market, the seller has the luxury of "holding out for the best offer". In a buyer's market, home inventory is high, buyers do not bother to view homes priced on the high end of the market. Listen to your Realtor and price competitively.

3.) Cut out the excessive contingencies - Your listing contract holds contingencies that you specify should your home get an offer and go into contract. In this market, it is best to keep the deal as flexible and simple as possible. This allows the buyers the peace of mind that this sale will be simple and you are willing to accommodate them.

4.) Entice the Buyers with extras - Make your deal stand out among the competition by offering incentives. There are many things you can offer depending on your situation.
For example:
Offer a Buyers Home Warranty
Offer to pay part or all of the buyers closing costs
Offer to pay mortgage points
Fix things the buyer's request- such as broken doors, windows or screens
Offer money for larger fix ups such as carpet, painting or appliances in escrow or reduced the price to allow for it.

5.) Prep your home for sale - As an accredited home staging professional; this subject is near and dear to my heart as it has such proven success with my clients. If possible, have your home staged by a professional. We all have different types of decorating style, which is created through our own personal preferences. When you place your home on the market, you are trying to please the taste and desires of many people. You must view your home through the Buyers Eyes! Your personal theme most likely will not be what the Buyer is looking for. Home staging focuses on depersonalizing your home - almost like a model home. The idea is that Buyers will be able to identify color schemes, countertops and walls if you let their eyes find these things instead of your personal possessions. With so many homes to view, a good first impression helps to keep your home in the buyers mind.

Here are a few basic rules of thumb:

• Your home must be clean and clutter free. I usually tell my clients about the 5 box technique- you can read about it in my blog here
• It must smell good! Pet smells, smoke, moth balls, diapers, heavy cooking spices or food smells are a big turn off to prospective buyers. Invest in air fresheners, scented candles and air out the house as much as possible. It's also a good idea to get the carpets and drapery cleaned.
• Secure the dogs for showings.
• Don't forget the yard. The yard it the first thing prospective buyers will see when they drive up. Tidy the yard and add some inexpensive plants to planters or gardens for a neat, clean impression.

6.) Allow your home to be shown whenever possible - Add a lock box to your home so it can be shown when you are away. Leave the house during a showing so the buyer can test your home without feeling uncomfortable.

7.) Be prepared to go down in price - After a period of time on the market, you must be prepared for price reductions. Just like the price wars after holidays, you need to be prepared to offer price reductions on your home in stages. Listen to your Realtors advice. An experienced realtor watches the market closely and follows up with clients regularly.

If you have any questions or would like to speak with me about your home. Please contact me. I will be happy to help. I also have a lot of tips for sellers and buyers on my websites Crystal McCall.com and Ocala Home Source.

Crystal McCall
Keller Williams Cornerstone Realty
Serving Ocala-Marion County, Summerfield and The Villages
Toll Free: (800) 391-8354 Ext:0
Local: (352) 547-1077 The Villages: (352) 267-7846
Email: Crystal@CrystalMcCall.com

The Bailout Recovery Package has been approved and hopefully we can move forward with our lives. The big question out there is where do we put our money for tomorrow? Please do not leave it under the mattress! We have to build faith again in our economic system in America. The principal of "Buy low, Sell high" needs to be considered.

Ocala, Belleview, Summerfield and The Villages, FL are well supplied with home inventory. Currently it will take two years to sell the available inventory in our area. The average market time to sell a home is over nine months. The one thing we have going for us is that central Florida is still a very desirable location for all due to our great weather.

Yet, people still need to have a place to live and the needs to buy and sell real estate remain constant. Many folks are downsizing due to energy challenges all over the country. Younger families in growth mode still desire to take advantage of these current lower prices and are buying larger homes. The one thing that is prevalent in the market is that buyers are making more decisions based on pricing more than on the emotional factors of choice.

Have you looked at what is going on in our real estate market? There are so many great buys out there. Just remember to be cautious by using Home Inspectors, Real Estate Appraisers and of course Real Estate professionals who are experienced and can make sure that you take all the right steps to protect your investments.

When buying homes, look for the basic 3 bedroom 2 bath 2 car garage homes. These are usually the easiest to rent and resale. Also, consider owner financed properties. This was a very common practice when interest rates were up in the teens back in the 1980's. This will be terms that are available with older more established properties, not the victim properties of the past few years. Location is another important factor when buying investment properties.

The final question to consider, is the election really going to make a difference on whether you buy a home now? Many people believe that the election will change our market. I hope that many people understand each one of us has to contribute to the idea of change no matter what the results of our forthcoming election. One thing we can all be sure of nothing ever stays the same.

The housing market is certainly experiencing an incredible challenge in North Central Florida.

The passing of the Economic Bailout Deal is not going to give us an instant band-aid. It will hardly ease the pain. There are currently over 2500 pre-foreclosure and Bank owned properties in the Ocala marketplace according to RealtyTrac, Inc which follows all the foreclosure and lis pendens (pre-foreclosure) transactions around the country. This is all represented in the failure of many banks and financial institutions along Wall Street. Many sellers are having to take the route of short selling their homes back to the bank as they are buried in debt, experiencing challenges with home owners insurance and increased property taxes and are unable to make mortgage payments.

How is this affecting the Ocala marketplace?

Buyers are very skeptical. They are slow in making decisions and concerned that the prices will continue to decrease. The media states loans are difficult to obtain, but we have not had any challenges with banks. If a buyer has good credit, a secure job and a twenty percent investment, they can get a loan. There are also some FHA programs allowing smaller down payments to qualified buyers

Sellers must price their homes competitively with like properties. Many home owners still believe they are excluded from what is happening in the money market along with the housing market. In order to offer a competitive sale, the property has to be below what has already sold and terms are essential. We are seeing owner financing reappear in the housing market and cash is always the best way to deal.

Daily evaluation and re-evaluation is essential for Realtors to keep up and inform the home owners and buyers of these current marketplace trends. Experience and knowledge are the key to being well represented in a ever changing market. If you are needing counseling or advice as to what to do whether buying or selling, it is imperative that you contact a very skilled and experienced professional to represent your interest.