October Housing Statistics
Utah home sales rose for the fifth consecutive month in October while inventory fell for the 11th straight month. Learn more about these indicators and other Utah housing market conditions in the video below.
Resource
EM/12-16-2011
5 Steps for Getting Ready to Buy
Lisa Escue (CDPE), with RE/MAX Masters II in Grapevine, Texas, outlines these steps you should take before buying a home:
Step 1. Find a Local Lender You Can Talk To in Person
Local lenders understand your market and know of loan programs that might be beneficial to you.
Check with your lender on any local programs that might help with closing costs or in other ways. Even though the media have pronounced the 100-percent-financing option dead, this is not always the case. Check it out for yourself and then get preapproved for a loan so you know how much house you're able to buy.
Step 2. Be Specific in the Area You Want To Live
Educate yourself. Familiarize yourself with the neighborhoods you're interested in, the taxes and school districts. This not only helps you narrow down your search when you need to move fast, but also helps you figure out potential mortgage payments. Find a home in your desired neighborhoods.
Step 3. Find an Agent Specializing in the Area You Want to Live
This will save you time and effort. Once you've identified a real estate agent, trust him or her to do the job. Agents who are thriving in this challenging market have proven their worth. They have the resources and skills to help you find your next home.
Step 4. Don't Shy Away From Houses That Need Some Work
Just because a house needs some paint or cosmetic fixes doesn't mean it's not a good buy. Most real estate agents have an address book full of trusted businesses they work with to help you fix up your new home. There’s an HUD program known as 203(k) that enables you to fold repair money into a primary mortgage; ask a RE/MAX agent in your market about the program.
Read more about the 203(k) program.
Step 5. Be Prepared To Act
Sometimes the first home you see is the right one for you. Don't discount it. Remember, good deals still go fast. Take advantage of the electronic tools your real estate agent has to offer. In many instances, real estate agents have access to better information than what you can find in a standard Internet search.
Find a RE/MAX real estate agent in your area.
Find homes for sale in your desired neighborhoods.
The advice offered here comes from sales associates affiliated with independently owned and operated RE/MAX offices and may not be applicable to all areas. Contact an independent RE/MAX real estate agent near you for expertise tailored to your locale.
EM/12-14-2011
Back in Action: Consumer Confidence on the Rise?
Posted By susanne On November 29, 2011 @ 5:01 pm In Business Outlook,Finance and Economy,Today's Marketplace,Today's Top Story,Today's Top Story - Consumer [1]Consumer confidence improved in November, rising 15 points and reaching its highest level since July. With consumers’ view of business conditions perking up, and their opinion on job conditions brightening, positivity seeps into what has been a fairly negative past few months. The Index now stands at 56.0, up from 40.9 in October. The Present Situation Index increased to 38.3 from 27.1. The Expectations Index rose to 67.8 from 50.0.
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was November 15th.
Says Lynn Franco, director of The Conference Board Consumer Research Center: “Confidence has bounced back to levels last seen during the summer (July 2011, 59.2). Consumers’ assessment of current conditions finally improved, after six months of steady declines. Consumers’ apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak.”
Consumers’ appraisal of present-day conditions improved in November. Those stating business conditions are “good” increased to 13.3 percent from 11.2 percent, while those stating business conditions are “bad” declined to 38.2 percent from 43.7 percent. Consumers’ appraisal of the labor market was also more upbeat. Those claiming jobs are “plentiful” increased to 5.8 percent from 3.6 percent, while those saying jobs are “hard to get” decreased to 42.1 percent from 46.9 percent.
Consumers’ short-term outlook, which had declined last month, was less negative in November. The proportion of consumers anticipating business conditions to improve over the next six months increased to 13.6 percent from 10.2 percent, while those anticipating business conditions will worsen declined to 15.8 percent from 21.3 percent.
Consumers’ outlook for the job market also improved. Those expecting more jobs in the months ahead rose to 12.9 percent from 10.8 percent, while those expecting fewer jobs decreased to 24.1 percent from 27.6 percent. The proportion of consumers anticipating an increase in their incomes rose to 14.9 percent from 11.1 percent
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was November 15th.
Says Lynn Franco, director of The Conference Board Consumer Research Center: “Confidence has bounced back to levels last seen during the summer (July 2011, 59.2). Consumers’ assessment of current conditions finally improved, after six months of steady declines. Consumers’ apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak.”
Consumers’ appraisal of present-day conditions improved in November. Those stating business conditions are “good” increased to 13.3 percent from 11.2 percent, while those stating business conditions are “bad” declined to 38.2 percent from 43.7 percent. Consumers’ appraisal of the labor market was also more upbeat. Those claiming jobs are “plentiful” increased to 5.8 percent from 3.6 percent, while those saying jobs are “hard to get” decreased to 42.1 percent from 46.9 percent.
Consumers’ short-term outlook, which had declined last month, was less negative in November. The proportion of consumers anticipating business conditions to improve over the next six months increased to 13.6 percent from 10.2 percent, while those anticipating business conditions will worsen declined to 15.8 percent from 21.3 percent.
Consumers’ outlook for the job market also improved. Those expecting more jobs in the months ahead rose to 12.9 percent from 10.8 percent, while those expecting fewer jobs decreased to 24.1 percent from 27.6 percent. The proportion of consumers anticipating an increase in their incomes rose to 14.9 percent from 11.1 percent
Tips to Help Clients Survive Closing
It’s good to have clients, and even better to have clients who close. But, more than ever agents have to help consumers jump hurdles to get to the gauntlet that can be the closing process. Here are tips on how you can prepare your buyers to survive closing successfully:
Spell it out
Lee Hudman, Realtor Consultant with Keller Williams Metropolitans in Houston, TX says he, “Sends [buyers] a letter that tells them step by step where to go, what to bring, what to expect, what they should not do, [and] what to do to prepare before hand.”
You’re an agent, your value is in knowing the process. Each deal is different, but putting down your knowledge of the buyer’s deal and the pieces involved is valuable reference material for your clients.
Get Them the Closing Documents Early
Tara Nichole Nelson, Trulia Blog Contributor and Broker with Rethink in San Francisco suggests, “agent and mortgage broker to provide them with their loan and title documents at least a day or so in advance – earlier, if possible. If you have to sign 300 pages at the closing table and you know your keys and moving plans hang in the balance, the chances you’ll be scrutinizing every line are pretty slim”
Taking the time to review documents prior to closing lessens the chance of errors and oversights on important details like interest rates and closing costs that could potentially stall or totally stop your buyers from crossing the closing finish line.
Avoid Surprises, Pass along this handout
A buyer’s worst enemy at the closing table is surprises and information they wish they had in the month prior. Download this helpful handout “4 Tips for Avoiding Surprises at the Closing Table” to make sure your buyers don’t fall into some of the common pitfalls that prevent successful closings.
Spell it out
Lee Hudman, Realtor Consultant with Keller Williams Metropolitans in Houston, TX says he, “Sends [buyers] a letter that tells them step by step where to go, what to bring, what to expect, what they should not do, [and] what to do to prepare before hand.”
You’re an agent, your value is in knowing the process. Each deal is different, but putting down your knowledge of the buyer’s deal and the pieces involved is valuable reference material for your clients.
Get Them the Closing Documents Early
Tara Nichole Nelson, Trulia Blog Contributor and Broker with Rethink in San Francisco suggests, “agent and mortgage broker to provide them with their loan and title documents at least a day or so in advance – earlier, if possible. If you have to sign 300 pages at the closing table and you know your keys and moving plans hang in the balance, the chances you’ll be scrutinizing every line are pretty slim”
Taking the time to review documents prior to closing lessens the chance of errors and oversights on important details like interest rates and closing costs that could potentially stall or totally stop your buyers from crossing the closing finish line.
Avoid Surprises, Pass along this handout
A buyer’s worst enemy at the closing table is surprises and information they wish they had in the month prior. Download this helpful handout “4 Tips for Avoiding Surprises at the Closing Table” to make sure your buyers don’t fall into some of the common pitfalls that prevent successful closings.
Metro Message
Welcome to this edition of The Metro Message.....I hope that all of you enjoyed the weekend and found the time to relax and have some fun. Do you fully understand the power and responsibility you have. YOU have the power to honestly do tremendous things in your life. YOU have the power to control what you do and the result you would like. YOU have the power to gather information and knowledge, put a plan together, associate with others that can help you, and put in motion the actions that will lead to the results you want. We all forget that each day we have that power. Let us take advantage of that power today and every day. The power of YOU is amazing if used.
ENCOURAGEMENT CORNER...
When We Share Poet: Unknown
When we share laughter, there's twice the fun;
When we share success, we surpass what we've done.
When we share problems, there's half the pain;
When we share tears, a rainbow follows rain.
When we share dreams, they become more real;
When we share secrets, it's our hearts we reveal.
If we share a smile, then our love shows;
If we share a hug, then our love grows.
If we share with someone on whom we depend,
That person becomes family or friend.
And what draws us closer and makes us all care,
Is not what we have, but the things that we share.
WORDS TO LIVE BY...
You must be on top of change or change will be on top of you.
Mark Victor Hansen
Everybody thinks of changing humanity, but nobody thinks of changing himself.
Leo Tolstoy
No one can make you jealous, angry, vengeful, or greedy - unless you let him.
Napoleon Hill
The best time to hold your tongue is the time you feel you must say something or bust.
Josh Billings
The secret of success is learning how to use pain and pleasure instead of having pain and pleasure use you. If you do that, you're in control of your life. If you don't, life controls you.
Anthony (Tony) Robbins
When we direct our thoughts properly, we can control our emotions...
W. Clement Stone
Prudent, cautious self-control, is wisdom's root.
Robert Burns
Control your destiny or somebody else will.
Jack Welsh
LET'S MAKE THIS THE BEST WEEK OF THE YEAR!!!
ENCOURAGEMENT CORNER...
When We Share Poet: Unknown
When we share laughter, there's twice the fun;
When we share success, we surpass what we've done.
When we share problems, there's half the pain;
When we share tears, a rainbow follows rain.
When we share dreams, they become more real;
When we share secrets, it's our hearts we reveal.
If we share a smile, then our love shows;
If we share a hug, then our love grows.
If we share with someone on whom we depend,
That person becomes family or friend.
And what draws us closer and makes us all care,
Is not what we have, but the things that we share.
WORDS TO LIVE BY...
You must be on top of change or change will be on top of you.
Mark Victor Hansen
Everybody thinks of changing humanity, but nobody thinks of changing himself.
Leo Tolstoy
No one can make you jealous, angry, vengeful, or greedy - unless you let him.
Napoleon Hill
The best time to hold your tongue is the time you feel you must say something or bust.
Josh Billings
The secret of success is learning how to use pain and pleasure instead of having pain and pleasure use you. If you do that, you're in control of your life. If you don't, life controls you.
Anthony (Tony) Robbins
When we direct our thoughts properly, we can control our emotions...
W. Clement Stone
Prudent, cautious self-control, is wisdom's root.
Robert Burns
Control your destiny or somebody else will.
Jack Welsh
LET'S MAKE THIS THE BEST WEEK OF THE YEAR!!!
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