Existing-Home Sales Constrained by Tight Supply in May, Prices Continue to Gain

^[1]Limited supplies of housing inventory held back existing-home sales in May, but sales maintained a strong lead over year-ago levels and home prices are on a sustained uptrend in all regions, according to the National Association of REALTORS®.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 1.5 percent to a seasonally adjusted annual rate of 4.55 million in May from 4.62 million in April, but are 9.6 percent above the 4.15 million-unit pace in May 2011.
Lawrence Yun, NAR chief economist, said inventory shortages in certain areas have been building all year. “The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand.

QR Codes and You - Scan One Now & See

Have you noticed the odd bar code boxes showing up on real estate signage and flyers lately? Do you recognize them as QR codes? Are you shaking your head wondering what a QR code actually is and does? Do you have a smartphone?
A QR code is very similar to a UPC bar code that is used in pretty much every store, from where you buy your groceries to where you shop for clothes. It gives detailed product information. In a matter of seconds, using your smartphone, you can get all the information you desire on the item at no cost and with less hassle.
With a QR code, you can read about the product, including a home for sale, using your smart phone easily and fuss free. You can efficiently scan the "house for sale" flyer you found on your doorknob or the for sale sign of the home next door to your daughter and discover the details of the home without having to make a phone call. You can be directed to a real estate website that will show you more homes and other resources, too, if you desire.
As a real estate agent, I enjoy QR codes because they allow me to “show” you the house BEFORE we even talk. You can view pictures, videos, floorplans, community information and status - everything you want to know - instantly. I personally dislike having to wait for a call back when I want information, so I use QR codes to make sure you can find out what you need to know, when you want to know it!
So, please let me know what you think. I value your opinion and wanted to educate you on what and why those little fuzzy boxes exist. Do you love QR codes, too, or would you rather see my picture on a sign instead? Maybe both? :)
http://avmike.com/

If a Lender Pulls My Credit, Won't it Lower My Credit Score?

Are you pre-approved for your home purchase?
If not, you need to be, and no, it won't affect your credit rating.
In today’s real estate market, serious buyers know that the home buying process cannot begin in earnest until they are pre-approved, not pre-qualified for a mortgage. Pre-qualification is based upon “stated” numbers regarding monthly revolving debt, income, and other general information whereas pre-approval is based on verified facts. In the verification process for pre-approval lenders must make inquiries on employment and even check your credit score.
Luckily the Fair Credit Reporting Act recognizes this as a permissible and valid reason for a company to access your credit and it will NOT affect your credit rating or score. Mortgage lenders can run a “soft” credit check, sometimes called a “quotation check” to verify your credit worthiness and pre-approve you for home purchase. It is also interesting to note that multiple lenders can do this (within a 14 day period) without it affecting your credit score, if you want to compare loans. You can also check your own credit report as many times as you would like without causing harm in the same manner. In fact, before meeting with a lender or considering purchasing a home, you should evaluate your credit report and make sure it is error free.
Other types of credit inquiries CAN affect your credit report, so refrain from opening lines of credit at clothing, furnishing stores or car dealerships and other installment retailers until your loan is funded. Credit inquiries account for less than 10% of your overall credit score, but it is still not worth the risk when purchasing a home in Palmdale ca is in your near future. To keep yourself credit-worthy, make your payments on time, continually strive to increase your income, and make sure the monthly amount accessed on each of your credit cards is less than 30%. These proactive measures will go a long way to helping you secure the loan you need and the home you want.
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Buying & Selling a "Green" Home

While the decline in new home construction may have some feeling "blue," those of you who embrace a "green" lifestyle will be excited to hear about the latest projections. "Green" remodeling is a growing trend in the real estate industry! In fact, McGraw-Hill Companies, revealed last week that 17% of residential home building in 2011 was due to eco-friendly homes and upgrades. Rates on the West Coast, North Midwest, and New England have experienced even stronger growth.
This number is anticipated to continue to rise to five times that rate in the next five years with over 30% of "green" home building being forecasted for 2016. Beyond 2016, builders believe over 90% of their projects will be "green." Home buyers are seeking earth-friendly features in homes for sale, so home sellers and remodelers should take note of these statistics. Renovation work has also increased in recent years, most likely due to the shifting economy, and builders report that home remodels make up over 60% of their business, according to the recent McGraw-Hill study done in conjunction with National Association of Home Builders and Waste Management.
So, home owners and those looking for new homes with eco-friendly perks, have the "green" light! Almost half of builders (46%) have begun marketing their "green" services and are becoming well-versed in determining the best needs and options for their clients. As builders become more familiar with the processes involved with earth-friendly materials, consumer cost has decreased as well, making it a great time to upgrade your home for sale. Benefits of making these eco-friendly measures can be reduced energy costs, reduced waste, better quality of life, and peace of conscience.
To get more information on the results of the Green Home Builders and Remodelers Study, click here.
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Landscaping – A Key to Selling Your Home

When you meet someone for the first time – what do you notice? If you’re like many of us, that initial impression is largely determined by outside appearance. Believe it or not, that concept rings true with your home, too! That’s right, your home can foreshadow clues regarding your personality and sense of style, and its landscaping tells a story as well. Is your landscape sending the message you WANT to convey? If your home is for sale, the following tips can help to make sure you are not missing the mark!
Is your home sending the correct messaage?
If not, it may be time to consider hiring a gardener or getting help from family and friends to make some needed changes as soon as possible. The right gardener can transform the most jungle-like backyard into a beautifully manicured area of peace and tranquility, in as little as a day! With all the other tasks associated with selling your home, landscaping is a great project to outsource.
Before hiring a gardener, ask friends or neighbors for referrals. Once you have a few recommendations, ask questions and raise any concerns you may have with the gardeners/landscapers you decide to interview. Some key points to discuss are how often you would like service and what you need included at each visit. Services range from simple mowing to complete care, with reseeding, watering and fertilizing options. Don’t be afraid to ask your new gardener for help with ideas and improvements that could increase your property value and alert your gardener as to the property status, since there may be times when extra special service is needed (such as before an open house). You might even request that any extra cut blooms be left for you to use inside your home.
Keep in mind that a specialty garden is not the same as basic maintenance. If you have special circumstances, you may want to consider sharing written along with any verbal instructions with your chosen landscaper. Of course maintenance and seasonal costs, liability insurance and worker’s compensation coverage are all topics you will want to discuss before entering into any agreement.
Once you have begun your service, inspect the initial work and take time to notice the changes occurring in your landscaping. As you offer feedback to your gardener and become a part of the process, you will see your home evolve into a well-kept, beautifully groomed masterpiece. Your home will create the best impression possible and deliver the message you want to share with potential home buyers.
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In a Hurry to Sell Your Home?

If you are considering listing your home for sale, recent market studies have indicated that we are entering a seller's market, so your timing could be perfect! A decrease in inventory in the housing market is good news if you need or want to sell your home quickly.
As a home seller, there are three areas where you can have major impact when selling your home.
Of course the appeal of your home is a prime consideration, but did you realize that the marketing efforts and pricing are key as well?
Price to Sell and Expect Results!

When time is of the essence, be careful not to set your price too high. Even if your home is “worth” more than your neighbor’s or “seems” like it should bring a high price, be realistic and aggressive in your pricing. Remember that home searches are typically focused on price, and plan accordingly. Would you rather only appeal to the $500,000 buyer when your home is worth $505,000, or open your options to the buyer who has a search parameter set at $499,000? The key here is exposure - when time is short, you want as many buyers as possible viewing your property! Price your home to sell and look forward to a quick sale and multiple offers.
Harness the Power of the Internet to Sell Your Home Fast!

Recent surveys report that 86% of home buyers begin their search on the web. Your home needs to be there, as well. In addition to having a listing page with property details, consider resources such as Craigslist, Realtor.com, and other sources throughout the internet. Ask about syndicating your home listing to make sure it gets as much exposure as possible.
In your listing marketing efforts, don’t forget pictures - lots of them! Buyers want to “see” what is available before comparing homes in person. Make sure your photos are attractive and will sell your home. In doing so, you create a connection with your buyer before the home has even been visited.
Clutter-free and Clean Make For a Speedy Sale!

Look through your home with a critical eye. Minor repairs and touch-ups should be done to create a well-maintained look and your home needs to be very clean. Remove furniture and clutter as necessary. An orderly home is a home that sells fast!
http://avmike.com/list-with-us/

Buying a Home Still Considered a "Best" Investment in U.S.

Buying a home has several unique advantages when compared with renting. Aside from being to decorate as you choose, receive additional tax benefits, enjoy stability in your housing payments, and increase your ability to make future investments, it just feels good to own your own home!
A survey conducted last month by the PEW Research Center, a non-profit, non-partisan organization considered a “fact tank” on social & demographic trends in America, determined that the majority of adult Americans (81%) still believe “that buying a home is the best long-term investment a person can make.” It is interesting to note that while the same study showed that 47% of those surveyed felt that current economic factors have resulted in a decrease in their current home value, those same home owners felt that their home investment was a safe one.
Even renters seem to agree with the idea of investing in a home, with 81% wishing to buy a home at some point, even if individual circumstances prevent it currently. In fact, when asked to rate long-term financial goals, homeownership and “being able to live comfortably in retirement” were rated the highest by 80% of those surveyed. Survey participants seemed to understand that owning a home provides more than an avenue for generating savings - it also is a place to live and provides an element of physical and emotional stability unlike other investment options.
Further pursuing this question, the survey compared investments - trying to determine which held fast in the long run - the stock market or the housing market. The answer was variable, depending on the year of investment, however, and unable to be determined overall. One item not considered in the survey is that owning a home provides income tax benefits that are not likely to be found in other investments, which could affect the dividend bottom line and how you choose to invest. Click here to view the survey in its entirety.
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