Hot Off the Press Market Report

Hello this is Diane Cardano from Cardano Real Estate Experts here with the “Hot Off the Press” Real Estate Market Report through September 1st. In today’s video blog, I review the BIG news right now. The 2 issues are “What is happening with house prices?” and ”Are we heading for a new balloon?”

The good news is the latest home price expectation survey came out a couple weeks ago. This is a nationwide survey of over 100 economists, real estate experts and investment & Market strategists. First they looked at the pre-bubble number, then there was a correction or recovery from 2011 to the present. 

Now let’s look at what the appreciation of house prices should have been if we had stayed on the same trend line before the roller coaster ride. In the next 5 years we would be at around 22.3%.  And if you look at the actual, and projections through 2017, it comes out to be around the same appreciation, 22.3%. Just a year ago, these same economists were not as positive as they are now! Watch the video with complete slides showing graphs and illustrations.

Distressed property numbers are diving, foreclosures are down, and the foreclosure inventory is down as well as the number of delinquent loans.

There is NOT a housing bubble forming right now.  There are 8 cities in the country that currently have appreciated over 20% since the bottom hit. However with those appreciation numbers, both Las Vegas and Arizona are still down 50 and 40% respectively. When these numbers start really approaching 2006 numbers, then we can talk about a bubble, maybe.

As the mortgage rates increase so does the monthly payment for that same home. Some people will reduce their asking price for a house so they can afford it; these are people shopping by budget. Some people will be eliminated from the market altogether because they will no longer qualify for a house that they are looking to buy.

I do believe that the price appreciation momentum will slow down due to the increase in mortgage rates,  but nothing like the newspapers, radio  and television are saying....

Over the last 30 years, the 4 times that the interest rates spiked, prices did not go down, they went up. You may have been hearing that with interest rates going up, prices have to tumble, but not necessarily and not historically. It is not just the interest rates that determine price. It is the amount of supply, the inventory, where the economy is and where unemployment is. There is no guarantee that because interest rates are spiking up that prices are going to spike downward.

Mortgage Rate projections for 3rd quarter 2014 are between 4.8% and 5.1%. However, for those of us looking at the past numbers, as we can see the mortgage payment for a $250,000 home has come down over the last 30 years.

Some other interesting stats from Trulia shows that the number of buyers out of 100 willing to bid over asking price. These studies show that 25% of the buyers willing to pay 1 to 5% over asking price, 9 out of 100 are willing to pay between 6 and 10% over asking price and 4 out of 100 are even willing to pay 10% more than asking price!

This is something I am very familiar with as over half of my listings have sold this year for more than asking in 3 days due to our high tech marketing and our determination to crush the competition when it comes to selling our client’s homes.

John Paulson says:

“The housing market has bottomed. It is not too late to get involved. I still think buying a home is the best investment any individual can make. Affordability is still at an all time high. Buy a home and if you can, buy a second home.”

Thanks for checking out my market update for September. Check back next month to our blog. If you are planning to sell your home, be our guest at our next home seller seminar on September 26th at the Abington Library. Sign up at this link. www.HomeSharkSeminar.com

Real Estate Market Update: Mortgage Interest Rates and Home Sale Statistics

Today I am going to share with you a Real Estate Market Update for August 2013. We have a lot of things happening in the real estate industry. If you own a home or plan to own a home, please listen to this short video filled with graphs and statistics concerning the future mortgage interest rates, trends happening right now with house prices, and what you should expect to happen over the next couple months.

As you can imagine, being an expert in this New World of Real Estate, I want to make sure everyone understands what’s happening in the real estate market right now before you make a decision to buy or sell a home.

Let’s get started with what is happening with sales right now. The market is very strong. In January we were at 4.2 months of inventory, now we are at 5 months of inventory. As prices rise people with negative equity now can sell,  hence more homes are coming on the market. Looking at the pending homes graph, pending sales are skyrocketing.

More important than that is the latest projections from NAR over the next 6 quarters, sales are projected to continue on almost a straight line up. Here are Cardano Realtors our goal is to educate people to making the right decisions.

Watch the video to view various graphs that tell the story of what is occurring in the real estate industry.

Median days on the market graph. The graph shows that the days on the market is decreasing. So if your home not sold in the last 60 days on the market, bottom line, it is not priced right.

Case Shiller Report: Home Prices Over the Last 12 Months. This graph shows that yes prices are up from last year. However, in almost every city, they are down pretty dramatically from where the peak was in 2006. In 2006, home prices swung too high. Prices are now recovering, to where they should be and nowhere near where they were in 2006.

Mortgage Rates: Where are the mortgage rates headed?  No one expected interest rates to go up this past month, they went up almost 1 percent. This took everyone by surprise. Interesting enough, 4 major institutions projected the beginning of June this year that the interest rates in 3rd quarter 2014 would be 4.6 to 4.8%. . We hit those rates last month.  No one saw that spike coming.

Rates from January 2012 to Today. Rates were dropping for a good portion all the way to the beginning of this year, then they went up a little bit and came back down again. Then over the last 6 weeks they just skyrocketed.

Rate Change Effect on Monthly Mortgage Payment. Well how does that impact someone buying a $200,000 house. The cost of waiting a year is just over $200 a month. Over 12 months $2,600 a year and over a 30 year mortgage almost $78,000. So if you are looking for a home, it may be a good time to capture these low rates before they go up again.  Home Sellers it is a great time to sell this fall, you have a captive audience and if you are priced right you will find your home selling in less than 60 days. Our average here at Cardano Realtors is 26 days. We find our homes sell for half the time as the average and people who go to our seminars sell 3 times faster than home sellers who did not go to a seminar.

Distressed Sales Graph. Let’s talk about Distressed sales, good for us they are at 18%, the lowest they have been in years.  We are eating through that inventory right now. We are getting back to more normalized numbers, it is still high but nowhere near where it was a couple years ago.

Home Prices Appreciation Since June 2012. This graph from S&P Cash Shiller shows home prices going up every month sign June of last year. Let’s see what happens over the next couple months. If the amount of appreciate slows down that might be something we want to keep our eye on.

Price increases in 20 Metropolitan Areas. Philadelphia is not on this graph, however, I have been told we are around 5%. One thing I know about our area, our prices never get too too high or get too too low, we do not get the large fluctuation in prices as California, Arizona, etc.

That is this month's report, this is Diane Cardano from Cardano Real Estate Experts. We will see you next month with more statistics about the current real estate market.

Secret Formula to Secure a Buyer for Your Home in 26 Days or Less in Today's Market

Secret Formula to Secure a Buyer For Your Home In 26 Days or Less In Today’s Market

In this video, I share with you a TOP SECRET Formula on how to sell your home in 26 Days or less.

First as a Home Seller, you need to understand why it is so important Stage your home months to a year before it goes on the market. Some Sellers are just not coachable enough and do not want to do anything to prepare their home for sale. Others do some work to the home but do not know the real reason why they are doing anything to prepare their home for sale.

Understanding the reason why you should STAGE your home for sale will give you the energy needed to make your home shine for the prospective buyers. The most important reason why you should Staging your home for sale is………..

To Create Demand For Your Property!!!

You need to entice the buyer to look at your home online. The pictures online need to shine to get the buyers to want more!! If they want more, they request more information about the home or to request a physical viewing of the home. The idea is that your pre-market your home months in advance online to get as many buyers looking at your home BEFORE it goes on the market. Then, when the property is ready for showing, buyers will be waiting outside the door. There will be so much excitement that your home will sell quickly, for Top Dollar!!

Therefore, the Secret Formula to selling your home is: (See Video)

   Eyeballs + Foot Traffic = Sale in 26 Days

Eyeballs: The first showing for any home is online, therefore home sellers need to make sure they have the best pictures online. If buyers do not like the home from the website, they will never request more information. If your home is on the market and you are not getting any showings, you need to not only look at the price you are offering for your home, but what are you showing the buyers online.

Buyers will search for a home using an area of interest and a price range. If your home comes up in that search, you get a hit!! They browse through the homes that come up from the search and if the outside picture of your home intrigues the buyer, they will click on it…. ANOTHER HIT!!  Then,if they like what they see on the outside they will view the inside pictures!!

Most IMPORTANTLY, if they like what they see inside and outside, they will raise their hand and request more information and a physical showing of the property. Sometimes it takes 5,000 initial hits just to get 1 showing!!

Foot Traffic. The goal is get as many eyeballs looking at your home online, to get lots of foot traffic into the home. Once you have actual showings on your home, then you can get feedback from the buyer. Feedback tells you what to do next. What are they saying about the home?

Here are some examples of how to interpret feedback from buyers about your home on the market:

Too Small: They feel at that price and with the features that your home has, they can get more for their money.

Bedrooms or a specific room is too small, means at that price they feel they can find a home where the rooms are bigger, or they can afford more… so the home is overpriced.

Home is on a busy street…the home is overpriced. They can find a home on a quieter street and they can afford more.

Don’t like sloping of the backyard, or don’t like how the home is on a hill and has such a steep driveway…the home is overpriced. They can buy other homes in the same price range that do not have these issues.

Asbestos siding…… they can buy a home with vinyl siding at the same price.

Abnormal Lot Shape…Unusually shaped back yard…not a rectangular…At that price, they want a home with a better yard.

Power Lines In Area …they can buy a home without power lines at the same price.

Home is dated, needs too much work…. They expect the home to be more updated at that price.

Ultimately, the perfect home is for everyone. The perfect home is defined as on a rectangular lot, on a quiet street, beautifully landscaped, fenced yard facing the woods, cul-de-sac location, vinyl siding, totally updated inside and out. This is what the buyer will always be comparing your home too. They will settle on some issues, but the buyer who can afford a home at a certain price range will not settle for less.

So getting eyeballs weeks or months before your home is going on the market is so important. It allows you to get feedback before your put your home on the MLS. Once your home is on the MLS, you will never get a chance to make a first impression.

To find out more about how to pre-market your home and get thousands of showings BEFORE your home goes on the market go to www.FreeRoomByRoom.com and sign up for your Free Room by Room review of your home. Each Room by Room review is 30 minutes long and gives you a complete list of things you need to do before your home goes on the market.

Also, sign up for our next Home Seller Seminar where you can learn secret tips from an Expert Advisor.

Why You and Your Loved Ones Should Watch Out for Sharks This Summer

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What if you could know what you don’t know about selling a home?  What if you could learn how to make ten percent more money when selling your home?  With summer approaching we would like to remind you and your loved ones to watch out for sharks!

Home selling sharks can take many forms and like real sharks they can chew you up.  Not knowing how to properly stage or price your home can leave you vulnerable to lose thousands of dollars to the home-selling sharks.  It can also make your home stay on the market for longer than it should which will lower the sale price. 

If you or one of your friends, family members, or neighbors want to learn how to avoid all of the headaches that come from home selling sharks; then come to one of Cardano Experts home shark seminars on June 18^th & June 20^th.  Expert real estate consultant Diane Cardano Casacio will be speaking on how you can save thousands of dollars and sell your home fast in 26 days or less.

For more information about Cardano Real Estate Expert’s home shark seminar watch the video and register to attend at HOMESHARKSEMINAR.COM

A Little Painting Goes a Long, Long Way When Selling Your Home

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You may not realize this but the simple act of repainting the walls in your home can do wonders for the success of selling your home. And when you add up just how little it costs versus how much the payback is – it’s a no brainer!

Use Neutral, Flexible Colors That Appeal to the Masses
So what are some of the things to keep in mind when you are sprucing up your place before listing it for sale? Simple. DO NOT PAINT YOUR WALLS WHITE!!

Use a Beige based color throughout.  Try to put yourself in buyers’ shoes and allow them as much flexibility with their imagination to envision their own stuff in the house. How do you do that? Easy. Cover the walls with a nice, neutral color and you can’t go wrong. That’s what our resident painter does and by the time he and his team are done, the homes he paints for us just before listing come out looking brand new and completely transformed!

The benefit of using a neutral color is so that the home can appeal to buyers of many different styles and tastes. Light or medium beige will usually work with anything from Victorian décor to post-modern styles or even 80s retro. The point is to make it possible for buyers to see that relatively “blank canvas” and know that they can easily change it to suit their own tastes.

TIP ABOUT PAINTING: Paint All Trim WHITE!!! Get rid of the dark trim and everywhere in the house!!!!

Don’t Skimp Out on Quality – It Shows and It Blows
Another tip he offers is to use a quality paint brand along with a good primer so you can cover up any stubborn scuffmarks that might put off a buyer. Of course, before doing any of the painting be sure to apply some patching spackling material to smooth out any rough surfaces and patch up nail holes, dings or scratches. Sanding surfaces prior to painting is also a good idea for a finished, polished look.

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No matter what market you’re selling in, whether in a seller-centric one or a buyer controlled real estate environment, a clean and fresh home will attract buyers and despite the expense of a few dollars it will work in your favor. Watch the video for more about painting before you list from one of Diane’s Home Selling Seminars.

 
 As you can imagine, buying or selling a home can be a stressful process if you do not have the right team working for you.  The Real Estate Market is picking up. We just sold 3 homes last weekend over the listed price, due to our pre-Marketing Strategy, “Coming Soon Listings”, our state-of-the-art Marketing and aggressive Negotiating skills. Who would you rather trust your #1 asset in your Financial Portfolio, an AFA(Average Frustrated Agent) or an Expert Advisor, like Diane & Her Team. To find out more information how you can get a team of real estate experts working for you visit calldianenow.com or give us a call at 215.576.8666. As you can imagine, buying or selling a home can be a stressful process if you do not have the right team working for you.  The Real Estate Market is picking up. We just sold 3 homes last weekend over the listed price, due to our pre-Marketing Strategy, “Coming Soon Listings”, our state-of-the-art Marketing and aggressive Negotiating skills. Who would you rather trust your #1 asset in your Financial Portfolio, an AFA(Average Frustrated Agent) or an Expert Advisor, like Diane & Her Team. To find out more information how you can get a team of real estate experts working for you visit calldianenow.com or give us a call at 215.576.8666

Be Un-Emotional When Selling a Home in Order to Get Top Dollar!

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Do you want to receive a top dollar offer on your home when it goes on the market?  If you do, then you better make sure your emotions aren’t keeping your home from being all that it needs to be.  You, like me, want to make sure your home is attracting as much foot traffic demand as possible.  Here are a couple of quick tips and things to be aware of when pricing and staging your home for a top dollar offer.    

•   When staging your home the best way to approach it is with an open mind and an unbiased heart.  It is important to remember that someone with a different taste in furniture, wall colors, bathroom, and kitchen styles will most likely be buying your home.  For that reason, if you are not open to changing some of the things you have grown to love about your house to prepare it for sale, you may not even get people to come to your door.  The best thing you can do right now is find a real estate expert and have them conduct a room by room review of your home. 

• Like staging pricing your home in the best way possible is to approach it with an unbiased perspective.  Sometimes growing up in a home or building your family there may influence how much you believe your home is worth.  Even though great memories have great value to you, an expert advisor will be better suited to properly analyze the value of your home.  The best thing you can do right now is to find a real estate expert and have them conduct a room by room review of your home. 

[If you have any questions about what a room by room review is, contact one of our experts by visiting calldianenow.com] 
 

Listen to the story of one of our past clients who just earned Top Dollar when selling his home by being unemotional and listening to our expert advice.  
 

As you can imagine, buying or selling a home can be a stressful process if you do not have the right team working for you.  The Real Estate Market is picking up. We just sold 3 homes last weekend over the listed price, due to our pre-Marketing Strategy, “Coming Soon Listings”, our state-of-the-art Marketing and aggressive Negotiating skills. Who would you rather trust your #1 asset in your Financial Portfolio, an AFA(Average Frustrated Agent) or an Expert Advisor, like Diane & Her Team. To find out more information how you can get a team of real estate experts working for you visit calldianenow.com or give us a call at 215.576.8666

Honoring the People Who Worked So Hard To Teach Their Children And Leave A Legacy

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February is a great month to express the love you have for your friends, family, and loved ones.  So it’s no surprise that here at Cardano Real Estate Experts we want to take this time to express how much we love what we do and how much we love where we come from.

You may already know that Cardano Real Estate Experts is a family owned office created by Diane Cardano and her husband Stan Casacio.  What you may not know is that the Cardano and Casacio family both have a rich history of being in the real estate industry from 1954 when Diane’s father, Jim Cardano Sr., started the first real estate office in the Abington area.  To this day Stan and Diane still remember helping their fathers when they were at a very young age.   Cardano Experts would not be the same without the passion for real estate that Diane and Stan’s father poured into their lives.  In remembering Stan and Diane’s fathers, we would like to honor them by sharing the story of our history.   Watch the video above and help us honor our fathers!  

[Cardano Realtors Office built by Diane and Stan]

Find out more about the history of Cardano Real Estate Experts by watching this video about how Cardano Real Estate Experts came to be.

As you can imagine, buying or selling a home can be a stressful process if you do not have the right team working for you.  The Real Estate Market is picking up. We just sold 3 homes last weekend over the listed price, due to our pre-Marketing Strategy, “Coming Soon Listings”, our state-of-the-art Marketing and aggressive Negotiating skills. Who would you rather trust your #1 asset in your Financial Portfolio, an AFA(Average Frustrated Agent) or an Expert Advisor, like Diane & Her Team. To find out more information how you can get a team of real estate experts working for you visit calldianenow.com or give us a call at 215.576.8666