Duane’s Real Estate Video August 3
| “It’s a great day to be in real estate! Duane Beisner here… sales manager and a sales representative for ERA real estate. | ||
| Duane’s Quote of the Day
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Duane’s Joke of the Day
A group of friends who went deer hunting separated into pairs for the day. That night, one hunter retuned alone, staggering under an eight-point buck. “Where is Mike?” asked another hunter. “He fainted a couple of miles up the trail,” Mike’s partner answered. “You left him lying there alone and carried the deer back?” “A tough call,” said the hunter. “But I figured no one is going to steal Mike.” Duane’s Business Tip of the Day
There is no such thing as a perfect sales or business presentation. As people change and the marketplace evolves, so should your presentation.
Think about it.
Darwin Award of the Day
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(31 July 2009, South Carolina) Two disguised men entered a Sprint store on Sparkleberry Lane, pulled out guns, and stole wallets, purses, and credit cards from employees before ordering them into a bathroom. Both men fled, but they could not flee from their own stupidity. 23-year-old James T. had disguised himself by painting his face gold.
Yes, in order to conceal his identity during the robbery, James had covered his skin with spray paint. If this isn't a Darwin Award, what is? Paints are clearly labeled, do not get on skin, do not get in eyes, do not inhale. Paint fumes are well-known to be toxic, and the metallic colors are particularly noxious. James began having trouble breathing (surprise!) and died wheezing shortly after the robbery took place.
To add insult to injury, the disguise was ineffective. Witnesses were certain as to the identity of their assailant. Had he lived, James, like his surviving accomplice, would have been charged with armed robbery.
Duane’s Social Commentary
Condos that cost less than cars
The housing bust has made owning a home a lot more affordable -- but in some places, prices are extraordinary; you can buy a nice condo for less than the cost of a new family car.
Some cities have dozens of attractive condominium listings selling for $50,000 or $25,000. There are some selling for less than a new Toyota Corolla. And these are not derelict hovels in crime-ridden communities: These homes are often in move-in condition and located in nice neighborhoods.
"Not to sound like a salesman, but there are some real bargains out there," said Kevin Berman, a broker with Bankers Realty Services in Fort Lauderdale, Fla.
The housing bust has taken down the national median home price by about 23% since 2007, according to the National Association of Realtors (NAR). But condo’s have fallen even further, down about 25%.
In Sacramento, Calif., condo prices have fallen 59% from what they averaged in 2007, according to NAR. Miami condo prices have plunged 65%, and in Las Vegas they are off 66%.
Prices of individual units are down even more. One condo in Deerfield Beach, Fla., that sold for $115,000 five years ago now lists for $25,000. That's a drop of nearly 80%.
Much of these price drops can be attributed to over development during the boom. Much of that came in Sand State markets such as Las Vegas Miami and Phoenix, where prices for all properties are have fallen precipitously.
Berman has a one bedroom condo in one of these areas with a listing price of $15,000. He said it needs a little work, and it's in a community that doesn't allow you to rent out the property… but still, $15,000?
"It's great for a vacation property or a retirement home," he said.
Another of his listings is in North Miami, about three miles from the beach. It's a 900-square foot, one-bedroom, one-and-a-half bath with a community swimming pool, central air and assigned parking that costs just $23,450. That's less than a fully loaded new Camry.
In Las Vegas, there are more than 200 condos listed for $30,000 or less. A two-bedroom, two-bath condo with a covered patio in North Las Vegas can be had for just $30,000.
Of course, condo owners have other expenses, particularly maintaining the grounds and common areas, but these tend to be quite low. And the property taxes are also often modest.
Plus, if these housing markets ever rebound, there's even likely to be some price appreciation for these homes. You can't say that about a new car.
Duane’s Real Estate News…
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Construction Spending Rose in June
Overall construction spending rose in June, driven by record government spending, the U.S. Department of Commerce reported Monday. Spending on single-family residential structures declined 0.7 percent in June, the first time that number has gone down in a year. Funding for public construction increased 1.5 percent in June, with most of the money spent on power, sewage, and waste disposal plants. Federal building rose 4.6 percent to $31.7 billion, the highest spending on record. “Support to construction spending via new homes should continue to remain dampened in the coming months,” Maxwell Clarke, chief U.S. economist at IDEA global Inc. in New York, said in a note to clients before the report from Commerce. “Ongoing difficulty of accessing capital for speculative commercial real estate ventures will continue to act as a deadweight in the overall construction measure.”
Five Surprising Reasons to Buy a Home Now
ForSaleByOwner.com offers five good reasons why now is a great time to buy a house:
1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.
2. Houses are in move-in condition. Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.
3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.
4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.
5. Plenty of programs. Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.
Remember this is the best buyer’s market that you and I will ever see in our lifetime. Who do you know that is looking to buy or sell a property? Call us here at ERA, we can assist anyone anywhere in the world! And if you are thinking of getting into real estate as a career, this is a great time. I would love to speak with you. This is Duane signing off. Happy Trails to you! As always, I am proud to be an American. You can email me at duane.beisner@era.com... Or call at 714-996-3000 ext. 347 Or visit my website at www.rejedi.com
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