Friday, May 25, 2012

The Real Stuff: Arkansas Home Sales in April a Mixed Bag of News

Arkansas Home Sales in April a Mixed Bag of News
Sales Down 10 percent, Prices Up 10 percent

The number of homes sold in Arkansas decreased by 10 percent over a year ago while the average price of those homes sold rose by 10 percent.  The average price of the homes sold in the 43 county area surveyed by the Association increased from $138,642 in April 2011 to $150,153 in April 2012. 

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Monday, May 21, 2012

The Real Stuff: Are you getting the technology promised?

Are you getting the technology promised?

Apparently not.  I read an article about someone amazed by the fact that their local agents didn’t know how to use, what is now, common technology tools for the real estate industry.

After having a big brokerage for 5 years, I have now streamlined by operations and focused on providing my agent teams with the latest technology tools and one on one mentoring, training and coaching.  Regardless of what you think, the name of the agency doesn’t improve your personal business at all.  I take listings and buyers from the ‘big boys’ every week.  Why?  Because I show my clients the latest tools and techniques to satisfy their needs….to sell a home and/or buy a home.

The article I read mentioned that all the ‘big boy’s’ websites promoted themselves as being on the cutting edge of technology….yet a majority of their agents don’t use the latest technology tools.  Especially the ‘old school’ agents who have been around for awhile.  The ads are there, but the substance is not. 

A few weeks ago, a local agent was shocked that I didn’t have a fax.  Are you kidding me.  I told him a fax machine was not needed anymore.  He needed to scan the material and email it to me.  After he caught his breath, and I held my ground that I was really telling the truth and didn’t have a fax machine, he finally admitted that he had scanning capability, but would have to figure it out.  Are you kidding me?  The fax machine has been on the obsolete technology list for a few years now.  If you have a fax machine, get rid of it.  Not needed. 

Oh, yeah.  This same agent who was shocked that I didn’t have a fax machine also still hand writes his contracts and still gets original signatures, from him, his broker, and his two clients.  We now have the capability to complete our contracts online and send them for electronic signatures to our clients, our brokers, and our co-op agents.  All without printing one piece of paper.  Everything is online and stored in the clouds.

The author of the article stated, “The ability to get a signature from clients quickly and electronically can greatly reduce the amount of time, stress and work that can go into finalizing a contract. Buyers and sellers love to be able to sign electronically because it makes the transaction easier and less stressful for them too.”  Don’t we all want something that is easier and less stressful?

I use other technologies like Dropbox to store training material, forms, videos, etc so all my agents have access, remotely, to our agency material.  I even use dropbox when sharing large amounts of data and paperwork with other co-op agents.  I put the paperwork in my dropbox account and share it with whomever I want….agents, clients, brokers, etc.  It is secure and quick.  .

Today’s real estate agent and agency is much different than it was even 5 years ago.  The clients are online and expect the latest technology tools, and keeping organized is a major benefit to protecting our clients during the largest financial decision they are making for their family. 

It is great to see some local agents with a IPAD to present their listing presentation on.  But the technology usually stops there.  Those same agents using the IPAD still think open houses and newspaper ads will sell the house.  Wrong!  I sell my client’s homes for more money and in less time than other local agents, yet I have never advertised in the local newspaper.  Where does the success come from?  From having a true, “cutting edge technology” strategy including online advertising, online communication, and technology management.  That is what makes the difference for today’s buyers and sellers.

So what is the point of all this?  If you are looking to be a client of mine, buyer or seller, be assured that I have and use the latest technology programs available to satisfy your needs.  If you are an agent, looking for success, wouldn’t it sound better to work with someone who is on top of the latest technology that will improve your success and lower your stress, and provide the training you need to use the tools and incorporate them into the current “tried and true” real estate strategies.   With today’s technology, I can have a streamlined office atmosphere, less overhead, more efficiency, and pay my agents higher splits.

Buyer, Seller, or agent:  Which real estate company has the best technology? Can they prove it? What does it look like? What is it? Just because they say they have it, are the agents using the technology?

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Friday, May 18, 2012

The Real Stuff: Positive Signs Abound for Housing

Positive Signs Abound for Housing

Just announced:  The first quarter of 2012 was the “BEST” first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years!

And the icing on the cake is that the second half of this year could be even better than the first.  Oh, keep it coming!  With rental costs increasing and home affordability so good, we are moving forward in the housing industry.  Let the flood gates open.  Now is the time to buy low, opportunities are still out there, and home prices are starting to surge.

As real estate improves, consumer psychology around home ownership will change.  Along with job growth and stock market gains, conditions are right for a sustained housing recovery.  Sweet!

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

The Real Stuff: Another house sold. Buyer activity is good

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Another house sold.  Buyer activity is good

Congratulations to Chad and Patti on the sale of their home!  Sold above asking price, in 9 days!

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Thursday, May 17, 2012

The Real Stuff: Bank of America offers relo assistance to short-sellers

Bank of America offers relo assistance to short-sellers

Bank of America says it will provide up to $30,000 in relocation assistance to delinquent borrowers who work with the bank to obtain a preapproved short-sale price.  Short sales must be initiated by the end of this year, and payments may range from $2,500 to $30,000. This program is available in Arkansas.

If you are experiencing difficulty in making your house payments, or feel that you can’t sell your home for what you paid for it, or enough to cover the outstanding mortgage debt, call me about a possible short sale option.  Do not think that a foreclosure is your only option!  With a short sale, I can get the bank to forgive your debt and the lender will pay all of your real estate and closing fees.  It is possible that you have no out of pocket expenses, and you get relocation money!  Short sales create a win-win situation for the homeowner and the lender.  They are becoming more popular than a foreclosure, and lenders are shorting their decision times to within a month.

Regardless of who your lender is, a short sale is a better option for you and the lender!

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Friday, May 11, 2012

The Real Stuff: 2012 2013 Forecast is UP!

2012 2013 Forecast is UP!  Based upon the estimated numbers from the National Association of REALTORS, 2012 and 2013 will experience increase in home sales.  We will also see home prices go up by 2% each year, and interest rates pushing 5% by 2013.  This is wonderful news for our industry.  But, if you are thinking of buying a  home, now is better than later.  Higher prices and higher interest rates mean less house or higher payments in the future.  If you are thinking of selling, now is the time since prices have seen slight increases and buyer demand is high.  Plus the lower interest rates help keep the cost down for you on your next home.

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As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Wednesday, May 9, 2012

The Real Stuff: Home Prices Rising #2

Home Prices Rising #2Even nationwide, prices are up.  Look at the swing since December 2011 on the attached chart!  What does it mean?  For buyers, you probably missed the bottom, but now is still a great time to purchase since increases may continue.  For sellers, prices up means higher demand.  Good time to sell!

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As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

The Real Stuff: Home Prices Rising

Home Prices Rising in March 2012!  Up almost 5% compared to a year ago, statewide. 

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Tuesday, May 8, 2012

The Real Stuff: Another Happy Buyer....& Seller

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Congratulations to Mather and Samantha!  They are the proud owners of a new home for their family.

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

The Real Stuff: Bank of America Writing Off HomeOwner's Mortgage Debt

BofA Starts Writing Off Borrowers’ Mortgage Debt

More than 200,000 underwater home owners with mortgages through Bank of America may be eligible to have a reduction in the amount they owe on their loan, which could possibly trim their monthly payments by up to 35 percent.  Bank of America has sent letters to home owners who may be eligible to take part in a program to write-off a portion of underwater home owners’ mortgage principal, reducing it by, on average, $150,000 each.

Home owners eligible for the principal write-offs must be “underwater” (owing more on their mortgage than their property is currently worth), have a loan owned or serviced by Bank of America, and be at least 60 days behind on their mortgage payments as of the end of January. In order for the mortgage reductions to be made permanent, home owners must make at least three on-time payments.

Wow, this is huge news.  As one of the largest lenders in the country, BofA is ‘eliminating’ on average, $150,000 per loan.  If you received a letter, this may be a great option for keeping your home.  If you are too far gone, and can’t make up the payments, and participate in the program, remember there is another option beside foreclosures.  Bank of America is a large participant in short sales, which save your credit score and cost the bank less out of pocket expenses than foreclosure.  I will be glad to discuss the process and advantages of a short sale. Short sales are a win-win position for you and the lender.  Foreclosure is a lose-lose for both!

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Friday, May 4, 2012

The Real Stuff: Home Buying Gets Another Boost in Affordability

Home Buying Gets Another Boost in Affordability

Borrowing costs for home ownership just got a little cheaper as mortgage rates took another dip to new all-time record lows this week, Freddie Mac reports in its weekly mortgage market survey.  30-year fixed-rate mortgages averaged 3.84 percent reaching a new historical low.  A year ago at this time, rates averaged 4.71 percent.

We know that all good things must come to an end, and interest rates will begin to increase, especially as we get news of the economy rebounding slightly.  If you are thinking of purchasing a home, now is the time to get the best interest rates of all time which means it will cost you less.  If you are thinking of selling, these rates help you as well because it will increase buyer demand and traffic.

As always, my family relies on referrals! I appreciate the opportunity to show others what level of service a true real estate professional can provide.

Posted via email from Scott Deaton's Blog

Thursday, May 3, 2012

The Real Stuff: What are you waiting on?

The Real Stuff: Arkansas First Quarter Home Sales Up 6%, Average Price Up 3%

Arkansas First Quarter Home Sales Up 6%, Average Price Up 3%
March 2012 Prices Up 5% Over 2011

Yeah!  It’s looking better!  The number of homes sold in Arkansas in the first quarter rose by 6 percent over a year ago.  The average price of those homes sold rose by 3%. For the month of March the number of homes sold increased 1 percent and the average price for the month increased by 4 percent over March 2011.

Why?  Great interest rates, that have started to tick upwards.  Good inventory levels, affordability is great, and buyer confidence is improving. 

National median existing-home price - $163,800 in March, up 2.5 percent from March 2011.

In the South, existing-home sales slipped 1.1 percent in March but are 3.6 percent higher than a year ago. The median price in the South was $146,500, up 6.2 percent from March 2011.

Posted via email from Scott Deaton's Blog