John Elwell

Lots of homeowners fear foreclosure and some already have the banks knocking at their doors. Sometimes, this is the only recourse people have, but other times there are ways out. And the US Government is adding even more ways, hopefully.

However, just like when there are wounded sheep in the flock, there are also "wolves" circling out there just waiting to pick off some poor person that does not know what to do or who to go to for help. You see evidence of this every day with stick-in signs along the roads or ads in local papers.

Before you do anything, I suggest you visit the Department of Housing and Urban Development page on the internet to get some tips to help you avoid getting into an even worse situation by using some crooked company. You can visit their site at: www.hud.gov/foreclosure to see what your options are. They have a guide to assist you during this difficult time. You can find lenders, local advisory resources, information on refinancing options and much more. This site is worth a look! I highly recommend you visit it if you find yourself having a hard time making your home payments.

If I can help you more, please feel free to call me at: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You can also visit my website at: www.jelwell.century21bnr.com were you will find even more useful information, including another link to HUD.

• Collector Car Auctions
• Automotive and Antique Swap Meet
• Car Corral
• Vintage Auto Exhibition Racing
• Car Show
• Camping available from Thursday thru Sunday

Today in Zephyrhills, Florida we had our agents tour, or "caravan". For those of you who are not real estate agents, this is the time many of the agents visit the properties that have recently come on the market. Often agents know what their buyers are looking for and when they see something on tour that meets the customers' needs, they can get the home sold quickly.

Of course this does not happen every week, but on several occasions I have seen homes that I knew would make some of my buyers happy. With a call and a visit by the buyers, I had the home under contract before nightfall.

Now, back to today's tour. One of the homes on our tour was in a development where the builder was still erecting more homes. So that is a strike against the sellers since the developer can usually undercut the price of any homeowner. Such was the case today. So going in the listing agents had an uphill battle.

When I got to the home, I heard dogs barking inside. Loose dogs are never a good omen and can scare off buyers and some agents. After several minutes, the door was opened by what I later discovered was a sister of the owners. I gave her my card and she acted like I had leprosy and she was insulted that I had dared to knock on the door. Of course, she and the sellers knew that agents would be dropping by today and the specific hours.

The sister did let me in with two small dogs yipping and jumping on my legs. Of course, Miss Hospitality did nothing to stop them. Now when I say the home was dark, I mean it was DARK! All lights were off and all of the shades and blinds were pulled. I know one of the listing agents and know for a fact that she went by there early in the day to make sure the lights were on and the window shades, etc were open. I could see very little and my host did not seem to care. I did a cursory tour, said "Thank you", and left. Bet you can guess my impression of the home.

Now I was an agent. Suppose I had been there with potential buyers to tour the home. Why would buyers even give this home a second look when they can see bright, beautifully staged, more attractively priced homes with friendly hosts in the same subdivision?? Answer = They would not!

In the past I have written posts on the need to keep light coming into your home when you know that it is going to be visited by agents and/or buyers. No one wants to live in a dungeon and if your home looks like one you will drive people away. The small cost in lighting or extra air-conditioning for an hour or so could make you hundreds or thousands. It could also shorten the time that your home is for sale. Especially in am over-saturated market like we have now.

So, some suggestions:

1. If you, or the person who will be in the home, are in a bad mood or are not feeling well, and cannot be polite and welcoming, make yourself scarce. Go for a walk, send your teenagers to the movies, drive around the block, sit on the back patio, mow the lawn, and basically get out of the picture. Even if you are a warm friendly person, it is usually better if you are not on the scene when the agent is showing your home. But if you cannot be cordial it is even more imperative that you not be present. I am an agent and used to a variety of situations, but the rude young lady in the home today even made me feel like running for the exits. Not something you want buyers to feel.

2. Whether you are home or not, if your home is going to be shown to buyers, keep the lights on and leave the shades at least partially open so the home seems bright and sunny. Dark homes seem smaller and that is not the impression you want to give the next owners of your home. Also, when a home is dark, the buyers will not be able to see all of the positive features of your home and may, in fact, wonder if you are trying to hide something. The old adage of "not buying a pig in a poke" still applies today, and no one wants to buy something they have not been able to see.

3. Lastly, if you are selling a home where the developer is still very active, understand that your agent can only do so much under those circumstances. If you are selling your home for more than the brand new homes of the developer, your property will likely stagnate for many months while the new homes get snapped up for less money. Be as agressive as possible with your pricing and do everything you can to make your home look better than the models. That can be hard, I know. Builders can offer free upgrades, special financing, appliance packages, etc that you cannot provide. In some markets it may be impossible to get all of your money back if you have to sell not long after you bought the property. So be understanding and do not take it out on your agent.

However, even if you follow this last recommendation or are lucky enough not to have to compete with a developer's homes, you should not ignore #1 and #2. If you do, you will have reduced your chances of selling your home in our current market to a snowball's chance in, you-know-where.

If you have any questions concerning the Bulletin Board and its use, do not hesitate to contact me at John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com I will do my best to assist you.

I also invite you to stop by my webpage at: www.jelwell.century21bnr.com

GAINESVILLE, Fla. — The national economic crisis has failed to rattle Florida real estate experts, who, despite serious concerns about the availability of financing, remain surprisingly calm about market conditions within the state, a new University of Florida survey finds.

The most recent quarterly survey of Florida real estate trends completed in September shows the investment outlook for various types of properties remains steady, said Wayne Archer, executive director of UF's Bergstrom Center for Real Estate Studies.

“People who have responded to our surveys have not lost their faith in Florida as a place to be and a place to invest,” he said. “We have 40 pages of comments from our respondents, and although the dominant theme is the disruption of financing, perhaps the second theme, as one person put it, is people being on the sidelines with full pads and helmets just waiting to jump back in.”

Although Florida’s housing crisis is worse than other states, over the long term Florida stands to benefit from the migration of new residents, particularly as baby boomers age, Archer said. The Sunshine State’s mild climate and outdoor amenities make it an attractive retirement destination, despite high property taxes, insurance rates and hurricanes, he said.

Unfortunately, the plunging stock market combined with the fall in housing prices and tightening of home financing requirements will likely temporarily delay plans baby boomers may have to retire and move to the state, he said.

For the state’s real estate market to recover at all in the short term, banks and other financial institutions must ease credit restrictions, Archer said.

“If the financial crisis continues, that would really change the picture,” he said. “Our respondents, I think, are keeping the faith that they may have seen the worst and the shock will not be overwhelmingly severe.”

One sign of optimism is the trend in the latest survey toward a more favorable view of new single-family home development, Archer said.

“The respondents actually moved in a somewhat guarded but positive direction,” he said. “It suggests to me that they believe we may have already reached the bottom in that category.”

Although the survey does not include the market for existing single-family homes, one respondent said houses were beginning to sell in Lee County, once dubbed the foreclosure capital of the world, indicating perhaps the market is beginning to stabilize, he said.

Several neighboring counties in southwest Florida are likely to be in trouble for a long time, however, along with the Miami condo market, where an estimated 40,000 units are for sale, Archer said. Prospects are particularly bleak for higher-end condos in the city’s downtown, he said.

The weak dollar and general confidence in the United States as a safe harbor for investment could lure international investors to Miami, but that would be unlikely if the economic crisis deepens into a worldwide recession, he said.

While condo markets throughout the state face problems, which are likely to persist in the foreseeable future, the outlook for apartment rentals bounced back a little from the last survey in June, Archer said. “There was an expectation that occupancy rates would be falling, and while they’re not great, they are viewed as stable,” he said.

The weakest rental markets are in retail, which has been particularly hard hit by the economy as consumers spend less money, Archer said.

“After seeing what’s happening to their home values and watching the news, they are deferring purchases,” he said. “As a result, most retail organizations are curtailing their expansions and consolidating their operations and stores, which is creating higher vacancies.”

Perhaps the most negative survey result was that respondents’ perceptions of their own business outlook, which has declined steadily for 11 quarters, took an even larger downturn this quarter, Archer said.

“This is in marked contrast to their views of the market as a whole,” he said. “Although keenly aware of the downturn in the availability of capital, they remain surprisingly calm.”

The latest survey is based on 392 responses and is 12th in a series. It is the only Florida-centered survey of leaders and professional advisers in the real estate industry. The largest group of respondents was appraisers, about 51 percent, followed by brokers and other service providers.

Source: University of Florida Press Release - Writer: Kathy Keen and Source: Wayne Archer