Steve Walther’s Blog

Even if you are not a first time buyer, this tax credit can have a positive affect on the ablity to sell your home in a soft market. If you own what is considered a move up home, you too should feel the  affects of this stimulus on the sale of your home. If the buyer’s who want to purchase a more expensive home need to do it subject to the sale of their current property, they may be relying on the tax credit to bring more buyers to look at their home. Hopefully this large tax credit (that does not need to be paid back) will give first time buyers confidence to purchase a home. The lower interest rates also make buying a home more affordable. Buyers have to make sure that their credit is in good standing or it will be nearly impossible to get approved for a mortgage. However, there are many potential buyers out there who have been holding off on purchasing real estate because of fear of losing their jobs. They have good credit and savings; they need a boost of confidence to make the move.

For those that need or want to buy a bigger home, more expensive home, this may be your opportunity. The lower interest rates can give you more buying power, and it may be easier to sell your current  home if there is an influx of buyers coming into the marketplace.

Something to keep in mind is the deadline of the tax credit. The property must close by December 1, 2009. That seems far away now ,but it will close in fast if buyers don’t begin to get out in the marketplace soon. If there is a long line of contingencies starting with a first time buyer, the time needed to close all of these transactions can be lengthy. It may be a good idea to get your house on the market sooner than later. If it takes you 60 days to get a contract on your home and it is contingent on the sale of another property, it may be another 60-90 days before it closes. That is five months from now.

 Use this tax credit to your advantage whether you are a first time buyer or a seller looking to find the buyer. But, the government put a deadline on it for a reason- to boost the economy and restore consumer confidence. Don’t wait until June to put your house up for sale because you just may lose out on the benefits of the tax credit.

Walther REALTORS is looking for new agents. Why is now a good time to begin a career in real estate? Well, the market has slowed down but real estate transactions never cease. Life changing events such as relocation, expanding families, death, and the need to downsize continually occur; thus, houses go up for sale and people are in the marketplace looking to buy. The mortgage rates for a 30 year conventional loan dropped to historical lows and may continue to drop. People will be buying and selling. Also, it is important to understand that building a career in real estate can take time. Taking advantage of a slower market to build your name and get experience will work to your benefit. When things turn around, you will be ready to go with more knowledge and hopefully a good client base. Real estate is great as a second career after retirement. The independent contractor status allows individuals the freedom to make their own hours and build their business according to how much time they want to put in. The flexibility of being a real estate agent also makes it appealing to stay at home moms or those looking for a second job. For more information on how to become a real estate agent and our training program, please email us: info@waltherREALTORS.com- put œcareer in the subject line. Or call the office at 585-266-5941.

We have seen stocks plummet on Wall Street over the past few grueling weeks. Big national banks and financial institutions are going bankrupt or being bought out. However, smaller locally owned banks and credit unions that have been serving the public for 50-100 years are still going strong, lending money and keeping their customers happy. There is a lesson to be learned about smaller businesses in general; in order to have continued success they need to work harder to keep your business. Customer service supersedes everything, and it is the key to longevity. Small to medium businesses build their reputation on performance and word of mouth. Walther Realtors has been in business for 37 years helping people make wise decisions about real estate transactions Anyone can spend a ton of money building their œbrand. However, trends show that the television market is fractured because digital cable offers hundreds of options for people. Survey™s done by the National Association of Realtors reflect that the Internet is often times the first place buyers find the home they purchase or they find it through their agent. Print advertising is no longer an effective way to market a home because less people are paying attention to that medium to find homes for sale.  In economic times like this what really sells homes?   Success is attributed to the skill and experience of real estate agents & their office. Deals are harder to make and keep together. Time on market is extended and Walther REALTORS will guarantee the same high level of service throughout the entire listing period.We get paid for performance! Call or email today for a consultation: 585-266-5941 or info@waltherREALTORS.com.  

It seems obvious that a first time buyer can take advantage of getting more bang for their buck in this real estate market. But, if you are looking to purchase your second or third home, how can you take advantage of a down market when selling?   It is possible.

                      All prices go down, but not always equally. If you are looking to purchase in the same area then the values are most likely reflecting the same down-turn (or up-turn). The value of real estate tends to decrease or increase in percentages. For example, in today™s market we are seeing a 10% decrease in value of properties. If you want to upgrade your home, you too can take advantage of getting a good deal on home because of the decrease in overall sale prices. You may receive less money on the sale of your home, but you will receive a bigger savings on your purchase. For example, if your property sells at $100,000-10% less that what it would have sold for at a loss of $10,000, and you purchase a home for $200,000 (a house that potentially would have sold for $220,000 in a different market) what you are gaining more than you are losing on the sale of your house.

                      When you are a buying and selling, you can take advantage of a œbuyer™s market. Interest rates are lower and sometimes the inventory is greater; therefore, you will have more houses to choose from. However, you must be the best possible buyer in order to receive that œdeal you are seeking. This means being able to go non-contingent. If you are approved for purchasing a home without selling your house first, that is the best way to compete. Or get your house on the market! Be realistic and price it competitively! Get a firm purchase contract, and then put your offer on the new property.

                      We have 37 years of experience and know how to help you!  Call or email us for a consultation today: info@waltherREALTORS.com or 585-266-5941.

In the real estate market there are two different kinds of cycles where we see a slow down in the market, seasonal and economic. Seasonal cycles happen around the same time every year- July when people are vacationing and December due to the holiday season. These vary depending on the price range of properties. After the first of the year first time buyers start looking because their leases generally end in early Spring and they are they want to become homeowners. But, contrary to public opinion the mid-winter months are still a good time to put your house up for sale.

                      The cyclical economic slow-down is based on consumer confidence. As of now people are wary of making any large purchases. And, Rochester is also now facing the tightening of the credit market. Many people who once qualified for a mortgage are finding themselves deadlocked and unable to purchase a property. We have not seen a real estate market similar to this since the early 90™s prior to the first war in Iraq But, even then the market bounced back fairly quickly. It seems as though this economic slow down in the real estate market may take a longer period of time to work itself out.

                      If you have to sell there are two key elements to try and maximize your sale price and ability to get a purchase contract: 1. Price according to the market; remember buyers determine the value of a property and 2. It is worth taking the extra time and a few dollars to spruce up your home. Buyers are very picky because they can be. If they don™t like one thing about your home, they can move onto the very large selection of other properties for sale.

                      At Walther Realtors we have seen the various cycles of real estate over our 37 years of business. We know how to handle buying and selling properties during a fickle real estate market. Call or e-mail today. 585-266-5941 or info@waltherREALTORS.com

The public is often misled regarding the best way to choose a REALTOR. Often times they choose their agent based on ads in the paper or internet and much of the time, because they had no prior knowledge of that agent, they end up disappointed. Choosing a REALTOR, like most other professionals, should be based on receiving a referral from someone you trust. This can ensure that you will receive the service and results you hope to find when hiring an agent. Equate this decision to choosing other professionals such as a pediatrician. Would you choose your doctor based on an ad in the paper? When selling your home, most likely your largest investment,  you need  to be in the hands of a REALTOR who has longetivy for serving their clients with expertise and professionalism. A reputable agent will work hard for their clients because they want to continue receiving referrals, which makes up a large portion of their business. And, they receive many referrals because they have a long history of pleasing their clients and producing positive results. Walther REALTORS has be in business since 1971. We have prospered for 36 years due to our knowledge of the marketplace, honestly and professionalism.

The real estate market of today is going through a price adjustment. In some areas it is more drastic than others, but it is a fact of today’s market in general. You may thinking of ways to net more on the sale of your home which could include cutting corners and selling your home on your own. FSBO (For Sale By Owner) may be the solution for some, but in general this is not a good selling strategy in a market where the buyer feels they have the upper hand. Times like this make the expertise and professionalism of a real estate agent, who has the resources to price a listing and negotiate a deal all the more valueable. The sales commission is well worth a sale at a good price.
The most important factor when attracting buyers is price. Your asking price sets the stage for your ability to sell quickly and for the highest amount possible.

An important fact when selling your home is that most prospective buyers do not have the money or desire to make exterior improvements shortly after moving in. Therefore, they may be more likely to move on to another property if they feel it will not require a lot of funds and energy put into it. It is in the sellers best interest to make repairs and perform maintenance (which is considered deferred maintenance to buyers) in order to make their property more appealing to buyers. With the internet being the number one medium for buyers looking for homes, the seller wants to make sure they the get them to want to view the interior of the house and not just drive by.

Most often money spent on the exterior of the house such as painting and landscaping will yield a nice return in terms of sale and investment. And, in most cases allow a quicker sale. At Walther Realtors we can guide you through any possible renovations and improvements prior to putting your home on the market. Our 36 years of experience in the local market will ensure that you will get the most out of any repairs or maintenance on your home.

Keep in mind that if the exterior of a seller’s home is attractive, the perception to the prospective buyer is that the rest of the house is in similar condition.

At Walther Realtors we believe in compiling and distributing a detail-filled Fact Sheet with many photographs of our client’s property. Buyer’s often attend several open houses or showings in one day and often have a difficult time keeping track of all the facts of each property. Having a Fact Sheet in hand gives prospective buyers all the information they need on the property; it remains with the prospective buyer as a useful reminder after viewing the property. The Fact Sheet provides all the data they need to know and offers a record of whom they need to contact if they are interested.
If you are going to put your home on the market, compile a list for your REALTOR of any and all improvements made to the property with dates of when the improvements took place. At Walther Realtors we can help a seller determine which facts are pertinent and appealing to potential buyers and include them in the Fact Sheet. Our ability to inform buyers about the postive aspects of your home is what makes our marketing effective.