Great home, acreage, private and secluded, but only minutes from amenities. Close to Little Rock Air Force Base.
Thursday, March 31, 2011
Tuesday, March 29, 2011
February Pending Home Sales Rise
February Pending Home Sales Rise
Pending home sales increased in February, according to the National Association of REALTORS®. Pending home sales rose 2.1 percent in February based on contracts signed in February.
Lawrence Yun, NAR chief economist, says “Month-to-month movements can be instructive, but in this uneven recovery it’s important to look at the longer term performance,” he said. “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines. Contract activity is now 20 percent above the low point immediately following expiration of the home buyer tax credit.”
Pending home sales in the South increased 2.7 percent. “We may not see notable gains in existing-home sales in the near term, but they’re expected to rise 5 to 10 percent this year with the economic recovery, job creation, and excellent affordability conditions providing confidence to buyers who’ve been on the sidelines,” Yun said.Source: NAR
See my Social Business Card at www.ScottDeaton.com or scan this: 
Saturday, March 26, 2011
6 Changes in Real Estate for 2011
6 Changes in Real Estate for 2011
We will see some definite changes in real estate during 2011. Some good, some bad for sellers. Some good, some bad for buyers. As the economy begins to improve due to consumer confidence, the real estate market will rebound. It always does. Here are some of the changes we can look forward to this year:
1. Higher interest rates. Yes, they couldn’t stay at historic lows forever. After reaching lows around 3.5% in 2010, the interest rates for borrowing money to purchase a home can only go up. Is it possible to see rates up around 8%? Possible! Expect them to definitely get up to at least 6%. This means it will cost buyers more to buy a home. Buyers need to get out and buy a home sooner, than later.
2. Higher down payment requirements. With the devastating loan programs available during the early to mid 2000’s, and now the large amount of FHA backed loans, expect down payment requirements for buyers to increase. Even FHA loans may increase their low down payment requirement (currently at 3.5%). Conventional loans will continue to push for 20% down as lenders look for more stable investments.
3. Lower backing of large loans. Again, lenders will be looking for smarter, more stable investments and will be funding less of the jumbo loans. Plus, current buyers are now looking for smaller, lower priced, homes. It’s a trend that will be around for a while.
4. Fewer fixed rate loans. As interest rates can only go up, and lending requirements continue to be too tight, expect to see lenders open up to more adjustable rate mortgages.
5. Fewer homeowners. Reports are already out that home ownership across the country is lower. Was sitting around 69%, now at 66%. Possibly get down to 62%. Less buyers can get loans, plus certain demographics, that are growing in percentage of the population, have a history of less home ownership. Owning a home is still the American dream, increases the net worth of owners, provides exceptional tax benefits, and increases community involvement. And don’t forget it is still one of the most valuable investments available. Home ownership must continue to be a priority for the economic health of our country.
6. Improved stability. The country’s economy is already more stable than we saw in 2010. We will see how the unrest in other parts of the world will affect our economy, but volatility should be less. Due to the dramatic changes put in place over the past year or so, we should experience better stability for all.
Thursday, March 24, 2011
Beautiful and Elegant home at 4184 Royal Oak Cir Benton, AR 72015
See all pictures and details on link above. See my social business card at www.scottdeaton.com for additional information and real estate blog.
Friday, March 18, 2011
Costs to buy a home are going up!
Costs to buy a home are going up!
Effective April 18th – FHA Mortgage Insurance Premiums (MIP) will have another increase from .90 to 1.15%. That is a 30% increase. This means an increase in the borrower’s monthly payment! If you are thinking of buying, we need to have an FHA case number by 4/18/11 to be able to use the lower PMI. After that date, the fees go up. Looking to buy, call me asap and lets find one while the fees are low.
First-Time Home Buyers Prepare for Best Buyer's Market in Recent History
First-Time Home Buyers Prepare for Best Buyer's Market in Recent History
Affordable housing prices, ample inventories, and historically low interest rates signal ‘buyer’s market’ for first-time buyers, which represents 50% of all transactions . To help first-time buyers know if they’re ready to look for the home of their dreams as we head into this year’s home-buying season, the experts at www.move.com have created a ‘reality checklist’ designed to help them decide if the time is right.
Get your financial house in order
Before you decide to buy a home, it’s essential to make sure your credit is in good shape and repair any damage previously done. Know your credit score: thirty-five percent (35%) of successful buyers recently reported they didn’t know their credit score when they went house shopping, according to a national survey fielded for MortgageMatch.com. Having enough money set aside for a down payment is a key component to making sure you are ready to purchase a home. Also, it’s important to not put all of your money in the down payment as other fees or unexpected expenses often arise after closing.
Don’t fall in love with a house you can’t buy
Find out how much you can afford: establishing your purchase power upfront, including how much money will be required for a down payment and closing costs, is a must for first-time buyers. Look for special loans available from FHA and government sponsored loans for first-time home buyers that reduce the amount of money required to get into a home.
Learn the lingo
Since first-time buyers are new to the market and will finance a significant portion of their purchase, it’s important to get familiar with the processes and terminology associated with home-buying. Here are a few key terms from MortgageMatch.com to add to your vocabulary:
Bait rate: Misleading mortgages with low rate promises and no contingencies generally for those with extraordinary credit. Rates are based on: credit, debt-to-income and loan-to-value ratios, the size and type of loan, property location and the day you lock your rate, etc. The loan isn’t locked until the application is accepted. By then, it may be too late to find a better rate from another lender.
Basis point: A term used in the mortgage industry which simply means 1/100th of 1%.
Closing costs: The fees required to process and close your loan. They’re a cash obligation running from 3-5% of the purchase price. Motivated sellers might pay a portion of these costs.
FHA: Federal Housing Administration, the Federal Government Agency that oversees the U.S. Housing market. FHA Loans are loans insured by the Dept. of Housing and Urban Development.
FRM and ARM: A Fixed-Rate Mortgage Loan (FRM) is a loan where your interest rate stays the same for the life of the loan. ARMs are Adjustable-Rate Mortgages with variable interest rates that fluctuate based on an agreed-upon index.
GFE: The Good Faith Estimate (GFE) is a document explaining all costs involved in getting a loan.
TIL: The Federal Truth-in-Lending Form is a document that spells out the costs and fees of the loan.
Lis pendens: An official notice that there is a pending lawsuit over real estate.
Per Diem interest: Interest you pay per day, from the day you close to the last day of the month.
Underwriting/underwriting fees: Underwriting is a process the lender performs to qualify a borrower for a loan and the fee is what you pay the lender at closing to cover evaluating the risk involved with loaning you money.
Warranty deed: A legal document guaranteeing the seller has a right to sell a property, which is very important if you are considering a distressed or discounted property.
Mortgage Knowledge
While national rates on 30-year-fixed-rates mortgages have risen slightly this year, they are still at historic lows not seen since 1980, according to Freddie Mac. “Buyers who prepare themselves financially before they start looking for a home will have a better chance of succeeding,” says Sue Stewart, senior vice president for Move, Inc. “If you want to land the best mortgage that fits your needs, start early, educate yourself on your financial situation, get your documentation together and find a lender you trust.”
Find a REALTOR® and go shopping
For those ready to buy, REALTOR.com® has the tools and tips to help you find a REALTOR® and, ultimately, the right home. Finding a licensed real estate professional in your area will make the process smoother and easier to understand. Once you find an agent, share your realistic budget and what you’re looking for in a home. Stay in constant contact with your agent and look for homes whenever you have a spare moment.
First-time home buyer resources
For more tips designed to help the first-time buyer navigate the home buying process, the experts at Move have provided an abundance of helpful information that’s just one click away:
-Reality checklist – Are you sure you’re ready to buy? Here’s how to know.
-How-to Guide: Buying Your First Home – Everything you need to know about buying a home
-Get Prequalified Now – Get prequalified for a mortgage before you begin shopping
-Realtor.com Blogs– Connect with REALTORS® to help you navigate the market
-MortgageMatch.com News – Answers questions about finances and mortgages
-Move.com Home Finance – Equips first-time buyers with tools, guides, advice, and more
If now isn’t the right time, prepare for your future purchase
If now isn’t the right time to buy a home, make a plan with a target date for when you expect to be ready. Improving your credit, paying down debt, stabilizing your work history and calculating exactly how much you can afford, are the best ways to prepare for your future home purchase. It’s also important to refrain from making any new large purchases or applying for new credit.
Wednesday, March 16, 2011
Interest Rates are Low!
TODAY - 30 YEAR FIXED MORTGAGE:
CONVENTIONAL – 4.5%
VA - 4.25%
FHA - 4.25%
RD – 4.5%
VA, FHA, AND CONVENTIONAL ARE 3.75% TODAY FOR 15 YEAR MORTGAGES!
Looking to purchase? These rates mean it cost you less per month!
Tuesday, March 15, 2011
What Buyers Want in Homes Today
What Buyers Want in Homes Today
Buyers have a long list of what they want when home shopping, but one of their biggest desires: A good deal. "And no matter where a seller prices their property, they're looking to negotiate," says Patricia Szot, president of the MetroTex Association of REALTORS®.But that’s not all they want. Bankrate.com recently asked real estate professionals to chime in on the top desires of their buyers when home shopping. Here are four things that made the list of top home buyer preferences: 1. Homes that are in good condition. "There's not a lot of flexibility in that," says Ron Phipps, president of the National Association of REALTORS®. Many buyers now take the attitude: "I'd rather spend the money getting into the house" and not have to spend more money later, Phipps says. One of the major reasons is that "buyers have limited amounts of cash," he adds. "Even if they want to do a fixer-upper, they don't have the money to do it."2. A bargain with incentives. Buyers are looking for a good deal, even when considering bank-owned properties, says Joan Pratt, real estate broker with RE/MAX Professionals in Castle Pines, Colo. "They want the short sales and the foreclosures and they want them to look like they're owner-occupied," she says. "They don't want to paint. They don't want to put carpet in. They don't want to clean." And they aren’t only asking for a low price but they also want incentives to buy too. As such, sellers are offering everything from gift cards for new furniture to paint to financial assistance at closing. 3. Outdoor living areas. Homes with screen porches, outdoor kitchens, two-way fireplaces are becoming increasingly competitive in the marketplace as more buyers say they want more outdoor living space. 4. Open kitchens. "The wall between the kitchen and the family room is evaporating," Phipps says. "The kitchen is becoming part of the gathering space.” (See Buyers Want Cozy, Connected Kitchens)Source: “9 Items Homebuyers Desire in 2011,” Bankrate.com (March 2011)
What is the Cost of Waiting!
What is the Cost of Waiting!
After interest rates hit their BOTTOM around October of 2010, you would think that potential buyers would get off the fence and finalize their home purchase BEFORE it became TOO EXPENSIVE to buy a home. We are seeing some increased buyer activity as the warm weather approaches in Arkansas, but do buyer’s ever really think about what it cost them by waiting? Probably not. There is a cost of money! This cost refers to the actual cost of financing at a specific interest rate.
Did you know that a 1% increase in interest rate equals a 10% REDUCTION in your buying power, which is your sales price? Wow that was an eye opener, wasn’t it. Since October 2010, interest rates have jumped as much as 1.5% in the last 5 months. What did it cost you by waiting? If were able to purchase a $200,000 home back in October (because of the low 3.5% interest rate), now you could only purchase a $180,000 home. For the central Arkansas area, that $20,000 difference is a big difference in the style, age and size of the home you can now afford.
At 4.125%, you could qualify for a $206,313 loan amount.
At 5.125%, you can now only qualify for a $183,654 loan amount.
Yep, that just happened in YOUR market over the past 5 months. You lost that much house by not capitalizing on the lowest interest rates in history. Analyst say that interest rates can only continue to go up, and could possibly be at 6% by the end of 2011. What will that look like?
At 6.125%, you will only qualify for $164,581 loan amount. OUCH! That one stung didn’t it?! Within a year’s time, your COST OF WAITING could be $40,000!!!! Now is the time to purchase if it is your desire. Inventory and selection is high, prices are stable with good deals out there, there are a larger number of distressed properties which means great values, and interest rates are low (for now around 4.875%).
Don’t let the cost of waiting keep you from the advantages, tax benefits, savings, equity-building, etc of home ownership. Buying a home is the largest financial decision of your lifetime. As with any smart investment, it is better to buy low and sell high. We are in a buying low market. Take advantage of it while it is here.
Friday, March 11, 2011
This Weekend in Little Rock
Wednesday March 9, 2011
This weekend we have a fun event at Museum of Discovery where kids your pretend to be emergency room staff and observe a heart or brain dissection. Sounds like a lot of fun at MOD. Our Saint Patrick's Day parade is also this weekend. There's sort of a pub crawl around the parade from Dugan's to Creegen's and some of the other bars and restaurants in the River Market.
March 10 - 12
Duck Duck Goose Consignment Sale
State Fairgrounds
Children's clothes, toys and more. Free admission.
General Hospital/Brain Awareness
Museum of Discovery
Learn how your body works.
March 11
2nd Friday Art Night
5 - 8 p.m.
River Market District
Galleries, museums and businessness stay open late for deals.
Cruisin' in the Rock
6 - 9 p.m.
River Market Pavilions & Riverfront Park
Car show in the River Market.
March 11 - 26
"The Hanging of David O. Dodd"
The Weekend Theater, 7th & Chester
An original two act tragedy written by Phillip H. McMath. Call 501-374-3761
"If You Give A Pig A Pancake"
Arkansas Arts Center, Children's Theatre
Call 501-372-4000.
March 12
2011 12th Annual Rock To North Little Rock St. Patrick's Day Parade
Lil' Wild Ones: Nature Stories and Activities
2 p.m.
The Witt Stephens Jr. Central Arkansas Nature Center
March 15
Brown Bag Lunch Lecture Series 12 - 1 p.m.
Old State House Museum
Restoration Informed by Archeology: Excavations at the Rice House and Looney Tavern, Randolph County, Arkansas. Admission is free. Call 501-324-9685.
Thursday, March 10, 2011
EXIT Realty Deaton Group Announces New REALTORS
EXIT Realty Deaton Group Announces New REALTORS
Real Estate Consulting Team Expands
Little Rock, Arkansas (Grassroots Newswire) March 9, 2011 --
Husband and wife duo, Ted & Kristy Stane, have recently joined EXIT Realty Deaton Group in Little Rock.
Ted Stane is a new licensee, while Kristy has been licensed and transfers to EXIT Realty from another local agency.
"We're excited to welcome Ted & Kristy to our team at EXIT Realty Deaton Group," says Scott Deaton, Broker/CEO of the EXIT Realty Deaton Group at 11300 Financial Centre Parkway, Little Rock. "EXIT Realty is growing and attracting new talent like Ted & Kristy each and every day."
This group of REALTORS will bring fresh ideas and motivation to EXIT Realty Deaton Group, and they are looking forward to serving their communities throughout Central Arkansas.
"When visiting on Career Night with EXIT Realty Deaton Group, I quickly discovered that I had found my new home. They offered everything I was looking for. Most importantly, I could see that they were on top of their game with all of the training they had to offer! Although, I am not a brand new agent, I certainly don't know everything and I do know that it's a fight for survival in this business. If you don't stay on top of all the latest things, you won't survive. I'm excited to learn all I can and feel truley blessed to be a part of EXIT Realty Deaton Group, " comments Kristy.
"I felt EXIT offered the best benefits in the market. However, the reason I chose EXIT was the outlook and attitude I found about the importance placed on training, and the goal set to build me a lasting career in the field. I feel Scott Deaton has gone great lengths in building a great reputation, and business, to offer the newest techniques and strategies and has surrounded himself with some of the best in the business to ensure a long lasting success for everyone, and to help serve the public better. Thanks for allowing me to be a part of the Deaton Group," states Ted.
For more information about EXIT Realty Deaton Group, please call 501-221-3948. EXIT Realty Deaton Group is located at 11300 Financial Centre Parkway, Suite 910, Little Rock, AR 72211 & 3120 S Hazel, Suite C, Pine Bluff, AR 71603. Also go to www.WeAreExit.com or www.ExitRealty.com.
Rents vs. Home Prices - Which is better Value?
Rents vs. Home Prices
The graph below is the national rent index (blue) and the national home price (red). Apartment rents have steadily risen and are likely to accelerate a bit this year. Home values, meanwhile, have undergone wild swings and now appear to be a better buy compared to renting.
March 8, 2011 by Lawrence Yun, Chief Economist & Senior Vice President, Research.
Wednesday, March 9, 2011
Energy Efficient Mortgage Program - Huh?
Energy Efficient Mortgage Program
Did you know there is financing available, today, that will provide you money for upgrades to the home you are purchasing?
Well, maybe not for this home, but yes, there are various programs that will provide you lending for improvements to the home you are looking at. Were you thinking that you couldn’t buy a home because you didn’t have the money to fix it up? One of these is the FHA EEM (Energy Efficient Mortgage) Program. EEM helps homebuyers save money on utility bills by enabling them to finance the cost of adding energy efficiency features to new or existing housing as part of their FHA insured home purchase.
Tuesday, March 8, 2011
Can you get a loan with a 500 Credit Score?
Can you get a loan with a 500 Credit Score?
Yes you can! Wells Fargo is now providing FHA mortgages to borrowers with credit scores as low as 500. This is great news, as the downturn in the volume has been mostly due to strict tightening of the lenders for lending money to buy homes. This is excellent news, that I’m sure will be followed by other lenders. Currently, most major lenders require a minimum 650 credit score. If you thought you couldn’t purchase a home due to your credit score, then give me a call and lets see what we can do to get you in a house today.
Friday, March 4, 2011
Agents Attend Regional Training & Awards
FOR IMMEDIATE RELEASE
Contact:
Scott Deaton
Broker/CEO
EXIT Realty Deaton Group
501-221-3948
Scott@ExitRealtyDeatonGroup.com
Agents Attend Regional Training & Awards
Local Agents Recognized for Accomplishments
Little Rock, Arkansas (Grassroots Newswire) March 4, 2011 --
Agents from EXIT Realty Deaton Group, Little Rock & Pine Bluff, attended a Regional Training event and Awards Ceremony in Ft. Smith yesterday.
EXIT Realty Deaton Group agents were recognized for their accomplishments for 2010 while attending the EXIT Regional Event for Arkansas and Oklahoma. Jeanie Corkins, Jeffrey Merritt and Scott Deaton were presented with awards in recognition of their "Closed Ends" success during 2010. Jeanie received a Gold Level award while completing the year with the 2nd highest number of closed ends in the entire two-state region with 35 closed ends, while Jeffrey & Scott received Bronze level awards with 18 & 16 respectively.
In addition, Jeanie was recognized with an award for her overall Gross Commission Income generated in the region, and for her Sponsoring efforts.
Amber Burdett, Director of New Agent Development and Shelly Dahl, Executive Broker, were recognized with an award for their efforts in bringing new agents into the agency. Amber and Shelly tied for the 1st place position in the region. In addition, Scott Deaton also received an award for Sponsoring.
In recognition of continued support, participation and enthusiasm of the EXIT brand, Scott Deaton, Broker/CEO of EXIT Realty Deaton Group was presented with the "Spirit of EXIT Award" by the EXIT Regional Owners for Arkansas.
About EXIT Realty: EXIT Realty is a proven real estate business model that supplies multiple sources of income - for agents, security, stability and direction; for agents' families, security in the form of beneficiary and retirement residuals. In addition, EXIT’s top-producing trainers offer the industry’s best hands-on, interactive real estate sales training at all levels, including regional, franchise, sales and administration. A portion of every transaction fee collected by EXIT International is applied to its charitable fund and to-date, $2 Million has been pledged to Habitat for Humanity in both Canada and the U.S. Please visit www.exitrealty.com for more information.
For more information about EXIT Realty Deaton Group, please call 501-221-3948. EXIT Realty Deaton Group is located at 11300 Financial Centre Parkway, Suite 910, Little Rock, AR 72211 & 3120 S Hazel, Suite C, Pine Bluff, AR 71603. Also go to www.WeAreExit.com or www.ExitRealty.com.
Local Real Estate Agent Receives Rookie of The Year
FOR IMMEDIATE RELEASE
Contact:
Scott Deaton
Broker/CEO
EXIT Realty Deaton Group in Little Rock
501-221-3948
Scott@ExitRealtyDeatonGroup.com
Local Real Estate Agent Receives Rookie of The Year
Little Rock, Arkansas (Grassroots Newswire) March 4, 2011 - EXIT Realty Deaton Group’s Steve Cato was recently awarded the Rookie of The Year at EXIT Arkansas & Oklahoma's Regional Meeting and Awards Ceremony.
The Rookie of the Year is awarded to the an agent who has been licensed with EXIT Realty for 18 months or less and has received success in their new real estate career.
"Steve has worked hard and this award is well-deserved recognition of that effort," said Scott Deaton, Broker/CEO of EXIT Realty Deaton Group.
EXIT Realty is growing across North America and provides sales associates with the opportunity to earn residual income over and above their own transactions and an enhanced retirement and beneficiary benefit; all of which have been unheard of in the real estate industry until now.
For more information about EXIT Realty Deaton Group, please call 501-221-3948. EXIT Realty Deaton Group is located at 11300 Financial Centre Parkway, Suite 910 Little Rock, AR 72211 or 3120 S Hazel, Suite C, Pine Bluff, AR 71603. Additional information is available at www.WeAreExit.com and www.EXITREALTY.com.
How to Use Comparable Sales to Price Your Home
Before you put your home up for sale, use the right comparable sales to find the perfect price. Knowing how much homes similar to yours, called comparable sales (or in real estate lingo, comps), sold for gives you the best idea of the current estimated value of your home. The trick is finding sales that closely match yours.
What makes a good comparable sale?
Your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are other factors that count:Location: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.Home type: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.Amenities and upgrades: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners association fees?Date of sale: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.Sales sweeteners: Did the comparable-sale sellers give the buyers down payment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.
Agents can help adjust price based on insider insights
Even if you live in a subdivision, your home will always be different from your neighbors'. Evaluating those differences—like the fact that your home has one more bedroom than the comparables or a basement office—is one of the ways real estate agents add value. An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. She has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.
More ways to pick a home listing price
If you’re still having trouble picking out a listing price for your home, look at the current competition. Ask your real estate agent to be honest about your home and the other homes on the market (and then listen to her without taking the criticism personally). Next, put your comparable sales into two piles: more expensive and less expensive. What makes your home more valuable than the cheaper comparable sales and less valuable than the pricier comparable sales?
Are foreclosures and short sales comparables?
If one or more of your comparable sales was a foreclosed home or a short sale (a home that sold for less money than the owners owed on the mortgage), ask your real estate agent how to treat those comps. A foreclosed home is usually in poor condition because owners who can’t pay their mortgage can’t afford to pay for upkeep. Your home is in great shape, so the foreclosure should be priced lower than your home.Short sales are typically in good condition, although they are still distressed sales. The owners usually have to sell because they’re divorcing, or their employer is moving them to Kansas.
How much short sales are discounted from their market value varies among local markets. The average short-sale home in Omaha in recent years was discounted by 8.5%, according to a University of Nebraska at Omaha study. In suburban Washington, D.C., sellers typically discount short-sale homes by 3% to 5% to get them quickly sold, real estate agents report. In other markets, sellers price short sales the same as other homes in the neighborhood.So you have to rely on your REALTOR’s® knowledge of the local market to use a short sale as a comparable sale.
What it takes to be successful in real estate?
What it takes to be successful in real estate? Training!
Good agents are born, but GREAT agents are trained! One reason why EXIT agents are different. See the attached training calendar!
Thursday, March 3, 2011
Wednesday, March 2, 2011
Sellers Need to Get Practical About Price
Sellers Need to Get Practical About Price
Sellers whose homes have lingered on the market for months--or years, in some cases--are banking on this spring to turn the tide. Foreclosures and short sales are still flooding the market, which means many sellers are still up against big inventories and some big bargains that may pull away buyers.
As such, more real estate pros say it’s time to have tough conversations with sellers about slashing their sales price of their home, particularly if it hasn’t garnered any traffic in recent months or years. After all, spring usually brings out more buyers, as home shoppers look to buy and move before the next school year."We have had a problem with sellers who are nostalgic for the way it was," says Ron Phipps, a Warwick, R.I., real estate professional and the president of the National Association of REALTORS®. He says what home owners could fetch for their home during the housing boom is not practical today. "You have to be where the market is, not where it was," Phipps says.Phipps suggests encouraging sellers to check out the competition by visiting open houses or viewing online virtual tours of similar homes for sale to see how the seller’s house compares in price and appearance. I also encourage my agents to take our sellers out to personally inspect other homes that are on the market.
"You have to be very realistic about what is keeping your home from selling," Phipps says. "Sometimes it may actually be the person in the mirror, if your expectations are not realistic. Ultimately, there is a price at which all things sell."
This Weekend in Little Rock
This Weekend in Little Rock
By Amanda Galiano, About.com March 2, 2011
One of the biggest events this weekend is the grand opening of the Laura P. Nichols Penguin Pointe Exhibit. The events start at 10 a.m. in the Little Rock Zoo's amphitheater and then you'll get to see Little Rock's newest swim team, live and in person.
The other big event is the Little Rock Marathon. If you don't have to go downtown Sunday, don't. Streets will be blocked off from 6 a.m. to about 1. It's lots of fun to go and cheer on the racers, but parking and navigating is awful. I would schedule any optional downtown events for later in the day.
We also have some Mardi Gras events starting up. Mardi Gras is the 8th, but in traditional fashion, we're starting the party early. See the full list of Mardi Gras events.
March 5
Spring Craft Show
9 a.m. to 3 p.m.
Grace Lutheran Church, 5124 Hillcrest Ave.
Dozens of artisits and vendors with unique items.
WinterJam 2011
6 p.m.
Verizon Arena
Featuring Newsboys, David Crowder Band, Kutless, Red, Francesca Battistelli, NewSong, emcee KJ-52, speaker Tony Nolan and the pre-jam party with Sidewalk Prophets, Chris August & American Idol finalist Chris Sligh. Tickets $10.
World Kidney Day
9 a.m. - 4:30 p.m.
I. Dodd Wilson Auditorium, UAMS
March 6
2011 Little Rock Marathon
Downtown Little Rock
Stay away from downtown if you're not running.
St. Margaret's March Mardi Gras Madness!
6 - 8 p.m.
St. Margaret's Episcopal Church
Tickets are $15 for Mardi Gras feast plus entertainment. Email maggies.mardigras@gmail.com to reserve tickets.
March 7
Argenta Mardi Gras
6 p.m.
Starving Artist Cafe 411 N. Main St
Celebrate Fat Tuesday in historic downtown North Little Rock with food, drink, dancing and music from The Bob Boyd Sounds. $30. 501-372-7976.
"Mozart's Requiem"
7:30 p.m.
Robinson Center Music Hall
"The Art of the Old West" (Lecture)
6 p.m. - 7 p.m. Clinton School of Public Service, Sturgis Hall
Email publicprograms@clintonschool.uasys.edu to attend.
March 8
Arkansas Cancer Summit
8 a.m. - 4:30 p.m.
Embassy Suites Hotel
The Arkansas Cancer Summit is an annual event hosted by the Arkansas Cancer Coalition to showcase the progress that coalition partners have made toward meeting the goals and objectives of the state comprehensive cancer plan.
Mardi Gras at the Governor's Mansion
6:30 p.m.
Arkansas Governor's Mansion 1800 Center St.
Tickets: $75.
Tuesday, March 1, 2011
New Listing in Otter Creek! Video for 16005 Quail Run
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