photo credit: ohhhbetty

I’ve found in my years of interaction with the human race that people will buy almost anything if the price is right.  My wife has been amazed at the items I’ve Craigslist-ed or Ebay-ed that have gone to the “highest bidder”, OBO.  You know as well as I do what things are really worth.  Yes, that’s right, things are only really worth what someone is willing to pay for them. 

Take your home for instance, if you are trying to sell it you want the most you can get for it.  If you want to buy a house you want to get a good deal.  That’s why Buyers need to think like Sellers and vice versa.  This puts things into perspective. 

So, if your house isn’t selling here are some factors you might want to consider:

1) Are you using a Realtor?

• If not, consider seriously getting one.  Most people don’t know the market intricacies or have the time to properly and successfully market their own home.  Most FSBOs (For Sale By Owner) are on the market longer and sell for less (including Realtor commission) than they would have if represented by a Realtor. Yes there are cold stats supporting this.  Look I support some DIY but I still have a professional do my wiring.

• If you are using a Realtor, speak to that person to understand why you haven’t moved yet.  Communicate honestly and make sure you both are listening.

 2) Examine your motives.

• Why do you want to sell your home? Write it down.

• Even though the market it down it’s a good time to sell your home especially if you’ve been in it awhile and have equity.  Remember those homes you couldn’t afford before may now be within your price range.  It’s all relative.

 3) The house is priced too high.  Lower the price.

• All the other houses that are cheaper and comparable will sell before yours does.

• You’ve also got to ask yourself why you liked this house and why you think others will.  When you are thinking of buying your next home always think of resale…always!

4) Your house is located in a less than desirable area.  Lower the price.

• You can’t change the neighborhood. Get out and move somewhere nicer.

5) Your house is in need of repair.  Lower the price or fix it. 

• Be careful here because you will rarely recoup your expenses at a 1:1 ratio.

• It is often better to negotiate repairs or price reductions after the Buyer’s inspection.

Don’t forget the longer your house is on the market the more:

• Mortgage payments you are making
• Utility costs you are paying
• Insurance costs you are paying
• Maintenance costs you are paying
• Taxes you are paying
• Prospective buyers you are losing
• Opportunities you are losing
• Time you are wasting

By now you are getting the point that PRICE is the cure all.  Well for the most part it’s true.  Look, banks are tightening their loan parameters almost daily.  Buyers who were able to get a loan a month ago are not qualified now.  So people who were once able to buy your home if the price was right are now not able to buy it even if you’ve reduced the price to where it should have been a month ago.  Now you’re chasing the market instead of leading it.  The houses that lead the market get sold.

Identify what is important to you… money or moving on with your life.  If you are realistic you could have both!

Now is the time to find your home!  This is not a scare tactic.  This is an opportunity deadline notice.

Most people buying their first home know that the first time buyer tax credit will expire November 30th. What many people don’t know is what that means to them if they are in the market to buy a home.

Fact:  Average purchase transaction takes 30-45 days

Fact: The week before November 30th is Thanksgiving

Fact: November 30th is  the Monday following the three day bank shutdown

Important Timeline Information:

· Nov 25th, most banks closed early

· Nov 26th Thanksgiving

· Nov 27th Most banks closed

· Nov 30th Tax credit expires!

· Nov 20th  Recommended last day to close

Important Highlights

· Tax credit expires November 30th

· It takes 30-45 days to complete a home purchase

· Target your closing date as November 20th to give you some space

Putting Your Plan in Place

· Start house hunting NOW! If you look at the timeline, it should be clear that you should target having a property under contract  in the next few weeks to be able to close on time.

· Call me and let’s get out there hunting!

· Plan on closing by November 20th at the latest.

A Last Note

This information will help you avoid the rush and ensure that you can close prior to the expiration of the tax credit.

If you are not already pre-approved for a mortgage you should do so immediately.  I can point you in the direction of a good lender.

Call me at 503-336-6736 and I can work out a timeline that’s specific to your needs and goals.

Above all, don’t panic. There is still plenty of time to find the home of your dreams and take advantage of the tax credit.

You just need a plan to make sure you meet the deadline.  

Yangon, Burma  

Hello = min-ga-la-ba

Yangon is the main gateway and capital city of Burma/Myanmar.  It lies in the fertile delta country on the wide Yangon River about 30 clicks from the Andaman Sea.  This war torn country has a resilient and calming nature about it.  Most of the people are practicing Buddhists.  You’ll find Buddhist monks in saffron robes walking the streets with their begging bowls.  These monks range in age from very young men and women to very old adults.  In all our travels Rhonda and I felt the most peace here. 

Funny this should be true since Burma has been under a brutal military junta since 1962.  In fact when we arrived with our student and faculty compliment from the SAS ship we had gotten word that the government had “sterilized” the town in readiness for our visit.  This meant removing transients, cleaning up the city and indoctrinating the populace on proper “politically correct” etiquette.  There was a contingency on the ship who, in silent protest to the military rule, decided to remain onboard.  It was my responsibility to document the student interaction with this culture, even though I am vehemently opposed to any military governmental rule, I felt it important to bear a witness.

I was moved by this ancient culture.  The people have a soundness of heart, and a peacefulness of spirit about them that is difficult to put into words.  You can feel a low hum of tranquility that resonates even in the midst of their oppression.  One place you can experience it through the soles of your feet is the Shwedagon Pagoda. Known as the Golden Pagoda, it rises to a height of 321 feet, is adorned with gold plates and at the very top sits a 76 carat diamond.  It is believed that Schwedagon contains a relic (physical remnant) of the Buddha.  To savor the moment it is customary to walk the pagoda grounds in your bare feet.  There are no lockers for your footwear; you never have to worry that someone will steal your shoes.  As you stroll barefoot through the area around the pagoda each step is guaranteed to draw you deeper into a meditative state.

It is my wish that one day the world will experience the peace I felt in Burma, without the military junta aftertaste.

Please come back for the next edition when we visit Africa.

In the meantime, if you, your family or friends have any real estate needs please give me a call.

Qingdao, China

This image is one of many I took on our Semester at Sea voyage around the world.  It is of a Tai Chi demonstration in Qingdao, China.  Also spelled Tsingtao (pronounced ChingDow although China is still pronounced China…).  You may also have seen that name on a beer bottle at your favorite Chinese restaurant.  The Tsingtao brewery is located there and the tour is really pretty fun but that’s another story.  Qingdao resides on China’s coast facing the Yellow Sea.  It’s a wonderful and vibrant seaport.  The people are welcoming and friendly, always interested in practicing their English skills.  As an avid traveler I believe it’s important to try and add some of the local language to your repertoire; I added, “neehow” = hello and “shyeh shyeh” = thank you.

This particular morning I awoke very early to join in a Tai Chi demonstration at the downtown plaza.  We learned some moves from Tai Chi masters and then watched as they performed a demonstration that was not only physically amazing but visually stimulating.  During the demonstration I was interviewed by the local television station.  I’m not sure they understood what I was saying but through my smiles and a big “thumbs up” they seemed to appreciate that I was enjoying my time in China.

I hope you liked this little excerpt from my travels and will check in often for helpful real estate information. 

Next month we look at Burma.  Shyeh shyeh!

Statistics from the mainstream media say that 50% of all marriages end in divorce.  The only comforting thing about this statistic is that if you are one of the 50% you are not alone.  It can be a very emotional and trying time.  If there is one place where cooler heads need to prevail it is over the division of assets.  Otherwise, it can push both parties into damaging financial consequences that could take years to repair.

Here are some tips about dealing with the sale of your house during a divorce:

1)      What to do with the house

• Keep it: one party buys out the other and keeps the home.  Decide if it is beneficially feasible to keep the house.  If you have the cash you may decide to buy your ex out.  If not, call a mortgage broker to find out about other financing options.

• Sell it: both parties put the home up for sale and split the proceeds.  You will want to put the house on the market as soon as possible.  Especially if you are going to purchase another home.

2)      Selling the house – You want this transaction to go as quickly and smoothly as possible so that you can move on with your life.  Dragging your heels on this will make it more difficult on both parties.

• Do not sabotage the transaction - In some cases there is a power struggle and it begins with who chooses the Realtor.  The Realtor should be your neutral point and voice of reason for this transaction.  This should be a shared decision.  You both need to be willing to communicate with the Realtor (either together or separately) in order to have a successful transaction.  Once you have chosen a Realtor commit to working amicably throughout the transaction.  Any bickering can and will slow down the transaction and could chase away any prospective buyers.

• Basic rules apply (see Selling Your Home Pt 1&2 in this blog)

1. Choose a Realtor
2. Price Correctly
3. Declutter
4. Clean
5. Curb Appeal

Divorce is tough.  It is can be emotional, difficult and unpleasant.  People may have been hurt or chosen a different path.  It can also be an event that affords us the opportunity to conduct ourselves in a manner that shows respect for ourselves as well as understanding and compassion for our family and friends who may also be affected by this life change.  Consider putting this event behind you as fast and smoothly as possible so you can move on with your life.