I work with a lot of buyers and even I am amazed at how many Scottsdale homes for sale are coming up that are short sales. chicago suburbs short sales

What is a short sale?

So many buyers have heard the term but don't know what it means.  A basic definition is that a short sale is where a bank/mortgage provider agrees to consider allowing the property to sell for less than what is currently owed on the mortgage.  These are also referred to as pre-foreclosure sales as the seller is trying to avoid foreclosure by attempting to sell their property.  I have heard of some areas such as Florida where short sales are accepted even when owners are current with their mortgage payments.  Normally, the homeowner has to prove why they can no longer afford the property and fill out a form…

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low interest rates for orland park real estateI just read an article by Inman news explaining how the mortgage interest rates fell this week to lows we haven't seen since 2004.  That's great news for buyers that are indecisive about buying now or waiting until later.  With the recent special Fed rate cut buyers may think it's best to hold out for even lower rates.  That could be a risky gamble.  I'll explain why.

Although I am starting to get more buyers than I can handle, they are passing by decent properties and insisting on viewing everything on the market in their price range.  I can't blame them, although I saw a few homes I'd purchase in a minute if I were looking.  But today's buyers think there's something better out there or they're waiting for better rates.

If interest rates keep…

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orland park real estate

It's very confusing to decipher the current real estate market with the mix of press currently out there.  First off, I had a record year in 2007, while many other agents are thinking of leaving the business and a lot have left or will soon.  I'm shocked at some of the long established offices that are closing.  I've had my best year, many have had their worst.  I have an idea why that is.

Yes, sales were down last year.  But they were down from record years.  2007 was not the slowest year for property sales, there have been many years that had fewer sales than 2007.  So why are so many feeling like it was the worst year in history for real estate sales?

In my opinion, the old 80/20 rule exists even more today than before.  20% of…

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orland park real estate searchRecently I received a "cease & desist" letter from my local real estate board.  I received copies of my offending real estate website pages that have links titled "MLS Search".  Now our National Association of REALTORS (NAR) has made an addition to our Code of Ethics preventing us from using the term on our sites.  A majority of agents don't really understand the big picture because many do not have websites and for many that do, they don't understand that having a website is one thing, having an Internet presence is quite another.

How do we achieve an Internet presence?  By doing search engine optimization to allow our sites to appear at the top of search engines when people search specific real estate terms, or keywords, like Scottsdale MLS or Cave…

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stucco home in scottsdale

I have been reading headlines referring to the slowdown of the real estate market in Scottsdale and surrounding Phoenix area. I wrote another article about the downturn of the Scottsdale real estate market.  It is actually affecting most of the nation. The party is certainly over.

First off, most buyers have made their purchasing decision within the past 5 years when interest rates were at record lows. I personally believe these low interest rates will cause buyers to remain in their homes longer than usual because it will be difficult to give up those low rates unless they absolutely have to move because of a job change, growing family, downsizing, divorce, etc. This will affect the real estate industry years down the road.

There is always a…

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UPDATED 2/19/2019

orland park home for saleIt always amazes me at how many sellers will not confirm an appointment to show their home. I realize we all have a life and sometimes a showing is not convenient, like when you're very sick or you're having a party (or maybe the morning after the party), etc.

I tried setting several appointments for Scottsdale homes recently during the day. On each day, one seller said no. Then the receptionist asked if I could make it at a different time. My answer is always, "We're out looking at that time. If my buyers don't find something we might reschedule at a later date."

You should use a lockbox

Most sellers allow the use of a lockbox which makes it very easy and comfortable to show their property, which is the  only way it's going…

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This is another oldie but goodie, timeless post. I have been asked recently, on more than one occasion, what is the best place to live in the Greater Phoenix area or what is the best area of Scottsdale real estate?  That is a loaded question!

map of phoenix arizona and outlying towns

Real estate agents should not answer such questions but guide potential buyers to do their own homework.  This also gives me the impetus to provide even more information on my website about the areas I work in.  I believe buyers should be able to make a decision on where to live based on their personal preferences.  But we cannot force our preferences, or opinions, on buyers.  We could be accused of "steering," which means promoting areas based on ethnic or racial groups.  This could result in punishment of…

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2-story style orland park home for saleWhenever I'm getting information over the telephone regarding a home I'm going to be preparing a Comparative Market Analysis on (CMA), I will ask what style is the home?  Many times I'll get a long pause where I will step in and start naming and describing different styles.

Most people know that a ranch style home is a one-level home.  That's the easy one.  Some people will tell me they have a two-story when they really have a cape cod (or 1 1/2 story).  A cape cod is easy to describe over the phone as it's typically the kind of house children draw in pictures with a square body and a triangle on top with a peaked roof coming down the sides.  A true two-story has the same square footage on the upper level as it does on the main level and the upper…

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Two Popular States for Baby Boomer's Second Homes

Florida, the Sunshine State

Florida real estate offers plenty of sunshineMoving to Florida, the "Sunshine State" is a dream come true for many retirees, families and singles. With tropical weather in most parts of this giant peninsula, and miles of sandy beaches, it's easy to daydream a new life in Paradise. As the fourth most populous state, the dream is a reality for more than 16 million residents. If you're wondering how to pick out your dream property in Florida, here's a few tips to keep in mind.

Arizona, the Grand Canyon State

My husband and fellow real estate agent, Jimmy Herter, and I fell in love with Arizona.  We purchased a 2nd home in Scottsdale AZ, a cute townhome located in north Scottsdale.  My parents retired there and…

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real estate is slow as a turtle for some agentsI'm sure you've read about the market slowing down.  A lot of what we read is using national statistics and you need to do some local research if you're really interested about the market in your area.

While many agents have been complaining about the slow market, I am heading for a record year.  I believe my real estate presence with my Scottsdale real estate site is bringing me net-savvy buyers and sellers and agents that do not have a real estate website are still relying on the old-fashioned methods of marketing.

However, as local as real estate is, even putting all of the areas together won't give you the exact market your specific town might be in.  There is also a different market between single-family vs. condos and townhomes and price range…

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