Posts in category 'Real Estate'

Common Real Estate Scams

The most common forms of scams I see in my real estate business are rental scams involving deposits and earnest money and wire fraud. I have had the local Sherriff's Department contact me looking to track a rental scam prospect down. 

One of our agents recently had his father in law's residential property listed for sale. He was online and saw where someone took the pictures of the house and posted that the home was available for lease when it in fact was not. The scam artist was cold calling prospects to rent the property. He just happened to contact our agent's friend, so she called our agent and made him aware of the scam. The scam artist was using the money payment application, "Zelle", and asking the prospective renters to put both a security deposit and first month's rent down. He created urgency by telling people they had to put the money down as soon as possible or someone else would lease the prope...

Click Here to Read More...

As the real estate market begins to shift and cool down, it is more important than ever to have the correct approach when selling your property. An imperative part of our job as Realtors is consulting with clients and preparing them to list their home. Market value analysis, condition of the home and attention to detail all matter. There are several common mistakes that I see property owners make. I will cover some of those below.

Perhaps the most essential part of putting a property on the market is value analysis. There needs to be data behind the list price. Recent sales of similar properties in the vicinity of the subject property should be considered. Even in a great market, you cannot just throw a price out there. You need comparable sales to support the value. Many homeowners take pride in their home which is a great thing. However, when it comes to pricing, you need an objective approach. Many buyers will not see the same value in an aspect of the home that you will....

Click Here to Read More...

We have also noticed that the number of buyers in the marketplace has decreased. Prices are staying strong, but the showing traffic and the volume of offers are not what they once were. As recently as this year I would receive 20-plus offers on a property but those days seem to be gone.

A significant reason for this sudden change is the increase in rates. In late June, mortgage rates rose above six percent. The Federal Reserve announced a large 3/4 percent raise of interest rates in June. The Federal Reserve has also stated that they expect to raise the rates several times this year and next to combat rising inflation in our country. All this seems to have cooled real estate buyer activity. As mortgage rates rise, a mortgage payment becomes higher and higher. An article I read recently from Lawrence Yun, from the National Association of Realtors, stated that the payment on a $300,000 mortgage went from $1,265 in...

Click Here to Read More...

Finding A House To Buy in 2022