Buyers Try to Clear Out Bad Vibes

Daily Real Estate News | January 14, 2011

Buyers Try to Clear Out Bad Vibes 

Foreclosed homes may have a lot of negative energy lurking, from missing appliances, dirty carpets, cracked walls, and any number of other problems from not being cared for properly from the previous home owner.

The foreclosure crisis has sparked an increase in an unusual business: More buyers are asking for ritual house cleansings before they move in to rid the home of it’s bad auras.

Witches, psychics, priests, and feng shui consultants are being asked to come in to homes to bless or exorcise the homes of their bad spirits. Sellers are joining in too, in the hopes of trying to sell their home faster.

One buyer in Salem, Mass., two weeks before closing had a witch and warlock visit his three-story home to clang bells and spray holy water to cleanse the bad aura and break up the negative energy in the home. They poured kosher salt on doorways and raised iron swords at windows to keep evil spirits away.

"It's not entities or ghosts that we're dealing with anymore," Julie Belmont, who refers to herself as an intuitive, told The Wall Street Journal. "With foreclosures, a lot of it is energy imprints from past discussions, arguments, money problems. All of that is absorbed by the house."

Real estate pro Tamara Dorris in Sacramento, Calif., is a believer in feng shui for speeding up the sale of a property. For example, she placed a jade plant, which is believed to bring financial luck, in a designated “prosperity corner” in one home.

"Within two weeks, I had two offers," she says. "Most homes have at least one or two prosperity flaws. Foreclosed homes have five or six flaws."

Source: “The Housing Slump Has Salem on a Witch Hunt Again -- Buyers Worried About Bad Vibes From Foreclosed Homes Seek a Cleansing,” The Wall Street Journal (Jan. 13, 2011)

Although I've never experienced anything like this personally, I wanted to share it because I found it very interesting. What are your thoughts on these "cleansing" rituals? Would you have one done to your new home?

- Ashley

Article in the Wall Street Journal Online

Hey Everyone, So I was perusing through the Internet and reading stories about real estate when this one in particular caught my attention. The headline read "Redfin: Less Than Half of All Home-Sale Attempts Successful in ‘09". That's less than a 50% success rate! No wonder sellers are so hesitant to list their home in this economy! "A survey of seven major housing markets found that less than half of all attempts to sell a home in 2009 had, as of last Wednesday, resulted in a sale." (http://blogs.wsj.com/developments/2010/08/16/redfin-less-than-half-of-all-home-sale-attempts-successful-in-09/). When buyers see all these properties sitting on the market for so long without selling, they definitely should see opportunities for great deals. Not that they should take advantage of these desperate sellers, but many sellers are settling for lower offers just to get rid of their houses so they can move on. The good news for these distraught sellers is that they will luckily make up for some of that loss in their next purchase! Interest rates are so low right now so not only will they get a low interest rate on their mortgage, but they will also get a good deal on their purchase of a home. It really does all even out in the end. Here is data from Cook County: County Name Listings Activated in 2009 # 2009 Listings Sold % 2009 Listings Sold # Still Active % Still Active Cook County, IL 134,710 44,789 33.3% 7,893 5.9% Here's the link to the entire article: http://blogs.wsj.com/developments/2010/08/16/redfin-less-than-half-of-all-home-sale-attempts-successful-in-09/ - Ashley

New Affiliate Staging Company: Elle M Staging

Hey There!

I'm super excited to announce my new partnership with a local staging company servicing the Chicagoland area. They are called Elle M Staging and here is a word from them:

In today’s real estate market home staging is critical. A house on the market for too long not only loses dollar value but loses buyer interest. Don’t neglect the opportunity to get the most out of your largest investment!

Elle M Staging will set your house apart from comparable homes in your area and help avoid costly price reductions. 

In our initial consultation, we tour your house and present ideas and solutions to your most challenging spaces.

Through furniture placement, wall color, accessorizing, and more we will neutralize and bring alive your house.

Create that winning first impression so buyers can envision themselves living there!

Elle M Staging is now offering professional home staging in the Chicago land area.

Take advantage of our affordable services by contacting us today at:

708.805.6886 or ellemstaging@gmail.com

View us on the web at ellemstaging.com

I hope you'll take a minute to visit their website!

- Ashley

The Housing Market: Supply and Demand

Remember that dreaded economics class back in high school or college? Supply and demand? Well, hopefully you paid attention to your professor, because economics plays a large role in the housing market.

Remember that as the demand for something goes up and the supply goes down, the value and price go up? And likewise as the demand for something goes down and the supply goes up because there's more available, the value and price go down?

Now in terms of the housing market, as the supply of housing went up and the demand fell, the values and prices fell. Many people do not think of the housing market in this way. All sellers think that their house is worth more than they paid for it, which isn't always the case. Since there are fewer buyers out there nowadays, they truly have the upper-hand in most cases. Once demand for housing begins increasing, we will see the supply decrease and the value and prices will begin to rise.

Thinking of selling your home? At least we are in the prime summer months where showing activity is generally higher than other times of the year. Contact me today and I will share my marketing plan with you. When you list with me, you also get a free home staging consultation! Call or email me for more details! 708-307-9616 or sales@ashleywydra.com

- Ashley

Thunderstorms and Lightning Bolts

So during last night's heavy storms, I couldn't sleep at all! Buster, my 5 year-old cairn terrier is absolutely terrified of thunderstorms and was literally hyperventilating! Baxter, my one-year old cairn terrier was just walking around the bedroom, obviously also being kept up by all the noise outside.

I started thinking about how thunderstorms are nature's way of keeping us in check - meaning that they make us enjoy nice weather all the better. Then, I began relating this information to my real estate career - the rude, inconsiderate customers make me appreciate the grateful, friendly ones all the better! Sometimes, I think people are under the misconception that agents get paid a salary, which is not true. A lot of buyers don't feel any sense of loyalty to an agent and may work with many agents. It's a matter of convenience for them, as to who ends up getting the commission, even though the other agents may have dedicated hours of work to that particular buyer. Unless people have worked on commission before, they simply don't understand how it works or affects an agent who has spent countless hours working for them and doesn't receive a penny of income.

Of course, then there are the greatest buyers in the world who stay loyal to you no matter what and truly work with only you as their exclusive agent. Those are the best kind of clients to have. However, I must treat all my clients as though they are these wonderful buyers until they give me a reason to act otherwise. Getting stood up, betrayed for another agent, or simply used as a means to get information are all reasons that I'd be happy to let another agent deal with a particular buyer. Real estate agents don't go through all the training and classes, get their certification, take their continuing education classes and become professionals to be treated as any less than that! If I am not treated as a professional, then I'd rather let the client work with a different agent, who may or may not care about them as much as I do.

All I can do is give my clients the best service possible and hope that they will conform to the world's greatest buyer status and not the opposite. Referrals are truly the highest compliment that an agent can receive and I appreciate any and all that come my way!

As for the thunderstorms that are on the way this afternoon, I say bring them on...I will only enjoy my sunny, clear days more!

- Ashley

Are You Ready To Buy Your First Home?

With all this talk going on about the $8,000 first-time home buyer credit, you may be asking yourself, "Am I ready to buy my first home?" Here are some helpful articles and tips taken from move.com's How-To Guide: Buying Your First Home: http://www.move.com/guide/first-time-home-buying.aspx?source=hp

Step One: Are You Ready?

Now's the time to ask yourself: Do I know what I want? Do I have the money? Is my financial house in order?

10 Steps to Home Ownership: http://www.move.com/home-finance/buyers-basics/guide-how-to-buy-a-home.aspx

How Do I Get Started?: http://www.move.com/home-finance/real-estate/buyers/can-you-afford-to-buy-a-house.aspx

Six Signs You're Ready To Buy: http://www.move.com/home-finance/real-estate/buyers/signs-that-youre-ready-to-buy.aspx

Tips for Squirreling Away Your Down Payment: http://www.move.com/home-finance/real-estate/buyers/how-to-save-when-buying-home.aspx

Step Two: Get Organized

When it comes to buying your first house, sometimes you simply don't know what you don't know... yet.

Should You Buy a New or Existing House?: http://www.move.com/home-finance/real-estate/buyers/buy-old-or-new-home.aspx

Condo vs. House: http://www.move.com/home-finance/real-estate/buyers/to-buy-condo-or-house.aspx

Do You have Buyer's Paralysis?: http://www.move.com/home-finance/real-estate/buyers/home-buying-problems.aspx

Pulling The Trigger: http://www.move.com/home-finance/real-estate/buyers/tips-on-first-home-buying-decision.aspx

Step Three: Taking Charge

There's nothing so complex about buying a house that you can't understand it with a bit of knowledge.

Take Charge When Buying A Home: http://www.move.com/home-finance/mortgages/take-charge-when-buying-home.aspx

10 Mistakes You Can't Afford: http://www.move.com/home-finance/mortgages/10-mistakes-you-cant-afford.aspx

Borrowing From Family and Friends: http://www.move.com/home-finance/real-estate/buyers/borrowing-from-family-and-friends.aspx

Step Four: Rent vs. Buy

Pay a landlord or pay a bank? That's the question renters face as they consider stepping into homeownership.

Renting vs. Buying: http://www.move.com/home-finance/mortgages/should-you-buy-or-rent.aspx

Am I Better off Buying Now or Renting?: http://www.move.com/rentals/finance-and-budgeting/What-you-need-to-know-about-renting-or-buying-in-the-20-top-markets.aspx

Renting to Own: http://www.move.com/home-finance/real-estate/buyers/benefits-of-leasing-home.aspx

Again, all of this information is from move.com, but I thought it is quite a useful guide for first-time home buyers! I hope you enjoy this resource and don't forget to call me when you're ready to start looking for your first home!

- Ashley