Market Insights Blog

Check out  http://foursales.com when you get a chance.  This company is located right here in Madison County and provides on-site estate sales anywhere in Central Virginai as well as public auctions at the Madison County, VA location.  The website provides lots of good information will be given both for Realtors and those of us that know we have way too much stuff that we won't want to take when we move.  You can also go to http://facebook.com/realestatematters early next week to hear a podcast of the WINA radio show that will feature a conversation with FourSales owner, Daniel Sanders.

http://www.oldtrailvillage.com/ Click on this link and read Old Trail Village's 2009 Annual Report.  With the pool and Village Center now open, Old Trial is becoming the community that was envsioned years ago.  There are several quality builders who buyers can choose from as well as lots that a buyer can purchase and choose their own builder.  Should you not want to wait for a home to be built, there are many resales currently on the market there as well.

This Inman article http://www.inman.com/buyers-sellers/columnists/dianhymer/buy-less-house-you-can-afford by Dian Hymer confirms what we have been saying to Charlottesville, VA area buyers for the last 18 months or so.  Here are some other interesting points to consider:

1)      You keep your payments where you are comfortable

2)      You buy at a price less than the highest value in a neighborhood

3)      Hopefully, it will allow you to have a payment that should you decide to rent it at some future point, the rent payment will be equal to your mortgage payment.  That way should it not be the time to sell, you have the option of renting it until you are ready to put it on the market for sale.

This Inman article http://www.inman.com/buyers-sellers/columnists/dianhymer/buy-less-house-you-can-afford by Dian Hymer confirms what we have been saying to Charlottesville, VA area buyers for the last 18 months or so.  Here are some other interesting points to consider:

1)      You keep your payments where you are comfortable

2)      You buy at a price less than the highest value in a neighborhood

3)      Hopefully, it will allow you to have a payment that should you decide to rent it at some future point, the rent payment will be equal to your mortgage payment.  That way should it not be the time to sell, you have the option of renting it until you are ready to put it on the market for sale.

For many homeowners, thinking about selling their existing home so they can buy another is a daunting task.  The real estate market over these past few years has been in such a downturn that folks can't sell their homes for what they could have 5 years ago.  Because of this, the prevailing feeling is that there is no chance to get a home sold at a price where one can buy the next home of their choice.  Although, that is certainly true for those who have recently bought a home, those who purchased theirs before 2004 there may be a way to have their cake and eat it too.  It all comes down to a simple mathmatical equation assuming a certain % of depreciation.  Take a seller who has a home that has a fair market value of $350000.  Given today's market conditions, let's assume it could sell quickly w a 10% reduction ($35,000) and then figure another 8% ($28,000) in closing costs meaning a cost of sale of $63,000.  If this same seller then bought at home listed at $550,000 for $495,000 (same 10% reduction=$55,000) and got the seller to pay their closing costs (3%= $14,850) the seller (now buyer) would have a net gain from selling to buying of $63,000-$69,850= $6,850.  This net gain does not even take into account the lowest interest rates in the last 50 years.

If you think this makes sense for your particular situation, have a Realtor put your home on the market with it being subject to you finding your home of choice.  That way, you can accept a much lower price and then go out and see if you can negotiate a price on the home you want to buy that will offset the reduction you took on your current home.  That way, should you not be able to buy a home at the right price, you haven't sold your existing home out from under you.  This scenario obviously won't work for everyone but is definitely worth considering.

 A great article that comes from McClung Companies--

If you’re a business owner, marketing director, sales person, or project manager, chances are good that the previous phrases have you mystified, befuddled, or just plain confused. Social Media, or “Social Sharing,” has been the fastest growing public phenomena over the past five years and it will undoubtedly continue to grow and be an important marketing component in the coming years.

 Have you recognized the significant business advantages that engaging in the Social Media space can offer?

 Where to start
First, carefully determine where and how your Social Media efforts will fit into your overall marketing plan. After this, identify which Social Media tools you plan to use. The following five steps are one example of how you might begin a long-term, sustainable Social Media Marketing program for your business.

Five steps for Social Media engagement

Register a new account for your business on FaceBook or Twitter.

1. Find and follow 10–15 businesses similar to your own.
2. Spend the next three weeks reading and studying exactly what kind of information the businesses you’re following are publishing
3. Begin sourcing your own information
4. Decide what frequency you’ll publish and then begin publishing your own updates (It’s called “joining the conversation”).

Following these steps can get you and your business effectively engaged in the Social Media space where you can take advantage of hundreds and potentially thousands of new opportunities to engage with your current and future customers.

Still sound like too much for you? No problem! Talk to your McClung sales representative today, and take advantage of our new Social Media Services. Full or half-day training sessions, as well as complete set-up packages, are available. Call your sales representative today or just call us at 1-800-942-1066. We’re glad to help!

If you live in Virginia, go to this website http://www.vahomeownersalliance.com and register.  You will then be sent updates on real estate matters that impact where you live.

http://www.istockanalyst.com/article/viewiStockNews/articleid/4302224

There is a lot to be gleaned from CAAR's just released 1st 6 months of 2010 real estate report.  There are some positive signs (median home prices have stabilized) but the number of homes on the market continues to be the dark cloud that hangs over a real housing recovery.  You can see the entire report by clicking here.  http://share.caar.com/Market Reports/2010 2nd Qtr CAAR Market Report - members.docm 

Click on this link http://www.emarotta.com/article.php?ID=182 to read David Marotta's insights on how to improve your marriage by having your financial house in order.  Creating a financial plan and then having the discipline to follow the plan can pay off big time.  Not just in your wallet but in your heart as well.