Survey: Sellers Fare Better With Agents

Daily Real Estate News | February 24, 2011

Survey: Sellers Fare Better With Agents 

Sellers have a better chance at getting their house sold by using a REALTOR® than opting for the do-it-yourself approach, according to a survey of 1,000 home owners by HomeGain.com, an online real estate resource. Nearly 60 percent of home owners who used a REALTOR® to sell their home were successful compared to 39 percent of FSBOs, the survey found.

In the survey, 83 percent of home owners said they used a REALTOR® to sell their home, whereas 17 percent said they tried to sell it themselves. This corresponds to results from NAR's 2010 Profile of Buyers & Sellers, which found 88 percent of sellers were assisted by a real estate agent. (Additionally, 83 percent of buyers bought their home through an agent.)

“It is especially striking that home owners fare significantly better in selling their homes using a REALTOR® than selling on their own,” says Louis Cammarosano, general manager at HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”

Among the findings in its For Sale by Owner vs. REALTOR® survey:

• 88 percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.
• 24 percent of FSBOs eventually contacted a REALTOR® to help sell their home.

Source: “HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling on Their Own,” HomeGain.com (Feb. 24, 2011)

Addicts Snatch Drugs From Homes for Sale

Daily Real Estate News | February 2, 2011

Addicts Snatch Drugs From Homes for Sale 

Addicts are posing as home buyers and cleaning out medicine cabinets in homes for sale, according to recent police reports.

"It's commonplace – more common than you think," Detective Dennis Luken, vice president for the Ohio chapter of the National Association of Drug Diversion Investigators, told the Cleveland Plain Dealer. "It's everywhere."

In one recent case, a man showed up to an open house and while the real estate agent was distracted with other customers he went through the home owner’s medicine cabinet. The agent overheard the man going through the drawers, and he was later questioned by police officers. He admitted that he went to the house looking for pain pills and that he learned the trick from peers at a drug treatment program.

Authorities say some criminals also copy information off the home owner's prescription label and then call to have the drug refilled so they can pick it up later.

Carol Woodard, chair of the Cleveland Area Board of REALTORS®, says she advises clients who have a house on the market to have a filing cabinet or locked drawers to stow away any medicine, personal records, credit cards, mail, and any identifying information on their children.

Source: “Addicts Pose as Homebuyers, then Nab Prescription Drugs From Houses That Are Up for Sale,” Cleveland Plain Dealer (Jan. 31, 2011)

Honestly, as if sellers in this market don't have enough to worry about. It's very important that you work with an agent that you can fully trust to at least protect your home during Open Houses!

- Ashley

Top 10 Most Searched Markets at Realtor.com

Daily Real Estate News | January 12, 2011

Top 10 Most Searched Markets at Realtor.com 

When Web visitors come to Realtor.com, they most often are looking in the sunshine states for real estate, according to a list of the most searched real estate markets at Realtor.com for 2010.

Realtor.com, operated by Move Inc. and an official Web site of the National Association of REALTORS®, based its list on the number of visitors at Realtor.com that viewed properties in each metro area in the United States from January 2010 to December 2010.

Here are the top 10 most searched for cities at Realtor.com for 2010:

1. Las Vegas

2. Los Angeles

3. Orlando

4. San Antonio

5. Miami

6. Phoenix

7. San Diego

8. Austin, Texas

9. Tampa

10. Chicago

"Online search is a critical measure of interest in real estate, especially now that more than 90 percent of buyers search for their homes online," says Realtor.com President Errol Samuelson. "Changing conditions throughout 2010 in the sunshine states resulting from foreclosures, the tax credit, interest rates, and other factors created more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011."

Source: “2010 Top Ten Most Searched Real Estate Markets Released by Realtor.com,” Move Inc. (Jan. 11, 2011)

This is the reason I pay to be a member of Realtor.com! My sellers can rest assured that their property listing will show up on Realtor.com and they almost always get the most hits there! Call me if you would like more information regarding listing your home. NOW is the time...don't wait until spring because that's what everyone else is thinking!!! Hope to hear from you soon : )

- Ashley

Does it make more sense to rent or own in 2011?

Daily Real Estate News | January 6, 2011

Tables Turn in 2011 on Rent vs. Own 

Rents have surged as home prices have dropped, which have prompted some to ponder whether homeownership is really worth it. Moody’s Analytics data has suggested that it makes more financial sense to rent than buy in many U.S. cities, but Moody’s chief economist Mark Zandi now says that is about to change.

"By mid 2011 and certainly by end of 2011, buying will be superior to renting in most parts of the country," Zandi says.

Home prices are expected to fall further, making more homes affordable, whereas rent prices are expected to continue to rise this year.

The following are a few of the top cities where it makes more sense to buy than rent, according to Moody data. (Experts often recommend buying when the price-rent ratio is below 15 and rent when it’s above 20.)

▪ Cleveland: 11.43
▪ Pittsburgh, Pa.: 11.71
▪ Detroit: 12.32
▪ Phoenix: 12.35
▪ Atlanta: 12.82
▪ Tampa, Fla.: 13.08
▪ Orlando, Fla.: 13.1
▪ Cincinnati: 13.74
▪ Las Vegas: 13.89

Source: “Rent vs. Own Ratio to Flip in 2011?” Fortune (Jan. 4, 2011)

I definitely agree that rent prices will continue to rise because of the high demand of renting nowadays. Sellers who took a hit to their credit by short-selling or being foreclosed upon are now forced to rent since they cannot get a mortgage. Rentals do not last very long on the market and we often get several applications the first day being on the market! There are still amazing deals on homes out there that we may never see again. Especially for first time homebuyers, who have nothing to sell, the savings over their 30-year mortgage would be incredible right now! Call me if you are looking to buy! 708-307-9616

- Ashley

Recent Feedback from One of my Sellers

I just wanted to share with you all some recent feedback from one of my sellers:

"The experience was professional, impressive, and you were very helpful throughout the entire process. Your IT background really shined in your use of various media's to advertise our condo."

-- Sean C., Oak Lawn, IL

Need help selling your home? Give me a call at 708-307-9616 or email me at sales@ashleywydra.com!

- Ashley

3 Reasons to Sell a Home Soon

3 Reasons to Sell a Home Soon

What do you tell a client who asks whether to sell a house now or wait? Steve McLinden, real estate adviser with Bankrate.com, offers these three good reasons not to wait, even though the holidays are approaching:

1. The market is improving. Most markets have either turned or are close to turning.

2. All real estate is local. Homes in great locations are always in demand.

3. Spring is coming soon. Many potential buyers are starting their online searches right after the holidays, making mid- to late February a great time to start marketing.

Ready to get your home on the market? I also think that since a lot of buyers have time off work during the holiday season, now is the ideal time to put your home on the market! Contact me at sales@ashleywydra.com or 708-307-9616.

- 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

How Can You Sell Your Home Quickly?

In this economy, sellers think that there is no way their home will sell quickly and brace themselves for months on the market. I will share with you some common, but frequently forgotten, tips to help your home sell.

1. PRICING, PRICING, PRICING! - I can't stress enough how important pricing is! Selling your beloved home is undoubtedly a very emotional experience, but it's very important to be realistic as well. I think many people are in denial of the market downturn affecting their home's value. A common mindset is that "it affected my neighbors' homes, but certainly not mine". Additionally, if a home is priced too high, you can spend as much time and effort and money as you want marketing it through every avenue available, but it isn't going to sell! REALTORS® do not set the price of your home, BUYERS do! Your home is only worth what someone is willing to spend to buy it.

2. Hire A Qualified REALTOR® - Simply putting a sign in your front yard that your home is for sale isn't enough! The only people who will actually know that your home is for sale are those people who happen to drive by and see the sign. When you list your home with a REALTOR®, your home is entered into the Multiple Listing Service (MLS) which is where many people begin their home search. At Century 21 Pride, we take advantage of every available technology to feed your listing into other popular and heavily-searched home sites such as Realtor.com, Zillow.com, and many more. We give your listing exposure to millions of potential buyers, which is not only helpful, but incredibly necessary if you want your home to sell quickly. REALTORS® also know how to sell a home and are most likely good at it! Remember, we have experience selling all kinds of homes and this isn't our first time! Before you decide to try and sell your home yourself, just weigh the options of using a REALTOR® and getting access to all of our valuable resources and knowledge.

3. Stage Your Home - Staging your home isn't as difficult or expensive as many people might believe. We're not necessarily talking about going to the extremes of emulating the homes on HGTV or hiring someone to stage your home. There are many actions you can take yourself to make your home appear more appealing to potential buyers. First off, clean up ALL clutter and put items in storage if necessary. Potential buyers do not want to see clutter and it makes your home appear smaller to them. Having only the bare minimum furniture and decor in a room makes it appear larger and gives it that "model home" feel. I will share with you a success story, from the Wall Street Journal, about a couple selling their home and using staging techniques:

"Want to know the big secret to selling a home quickly?



Make it look pretty.


Patrick McAllister and his wife Lisa Cox had an edge in that regard. Their 1917 Craftsman house was beautifully renovated with hardwood floors and bright, airy rooms. Carefully chosen artwork hangs on the walls. In the master bedroom a balcony overlooks the Seattle neighborhood of Wallingford.


The couple put their home on the market on a Friday in January, just one month before they planned to relocate to Bangkok where Mr. McAllister is starting a new job as director of housing finance for Habitat for Humanity International.


Two days later the 3,040-square-foot home had three offers and sold for $753,000—$3,000 more than the asking price.


The buyer's real-estate agent says that the couple could have gotten more. "I think if they would have priced it a little higher, they might have gotten fewer offers, but it would have sold," says Mary Durkan of Windermere Real Estate/Northwest.


Ms. Cox was just gratified they sold quickly. "I think any money we might have lost was just made up in peace of mind," she says.

That's the other part of the secret: Price the home to move. This may seem glaringly obvious, but it is increasingly important at a time when foreclosed properties dominate the market. Nationwide, "distressed property," including foreclosures and homes at risk of foreclosure, accounted for 32% of fourth quarter transactions, according to a report out Thursday from the National Association of Realtors." - The Wall Street Journal Online (http://online.wsj.com/article/SB10001424052748703630404575053232969697708.html?mod=WSJ_HomeBuyingSelling_LeftTopHeadLines)

You, too, can share in this couple's success by hiring a qualified REALTOR® and following his or her advice on pricing and staging techniques!

I will be sharing more selling tips in the weeks to come! Thinking of putting your home on the market? Maybe you are looking to downsize? Looking for a larger home for your growing family? Please contact me today! I'd love to meet with you and discuss your needs and provide you with an in-depth analysis of your home and how I would market it. Each home is unique and different and I like to take a very targeted approach to each home that I sell. Additionally, I'd love to not only list your home for sale, but also help you look for a new home. You can search through the entire MLS of available properties on my website at http://www.ashleywydra.com/. I'm always more than happy to set up appointments to visit your favorites with you. With me, you can enjoy a very low-pressure, stress-free home showing, as I do not believe it is my job to "sell" you anything, but rather to help you find the home that is right for you and your family. I do not like to put pressure on my clients to buy a home that may not be the "right" home for them!

I really look forward to working with you! You can call me anytime at 708-307-9616, visit my website at http://www.ashleywydra.com/, and email me at sales@ashleywydra.com.

- Ashley