Lansing Real Estate Update

Expired Listings-It happens sometimes

I recently mailed a flyer to some of the sellers with expired listings, and some of you may have received those already.

I’m contacting you to suggest that there might be reasons your home didn’t sell, and I’d like the opportunity to explain what I mean.

Contact Sue and Keith

COLLEGE STUDENTS buying homes - Part 3

College students can pool their resources to purchase a home together. I have witnessed a few situations where this has worked well. One brother-in-law bought a home with a college friend, another brother-in-law purchased a home with his brother. Everyone benefited.

Sue and I can help you find the right home for your situation. There are many reasonably priced homes in locations convenient to all the educational facilities in this area.

Student home ownership has the potential to revitalize some neighborhoods if enough people bought homes, fixed them up and maintained them during their ownership.

Contact Sue and Keith

COLLEGE STUDENTS buying homes - Part 2

The parents of college students also benefit from buying a home for their students.

The tax write-off could help off-set some of the educational costs. Parents could depreciate the home as income property and realize a higher return on their investment dollars than many stocks, or they could allow their student to use the write-off to build credit.

The equity in the home could be a future downpayment for the student or a return on investment for the parent.

Using a 1031 Exchange could further shelter capital gains when the home is sold, as well as reallocate the parents investment to a more lucrative investment with the tax deferred.

Contact Sue and Keith

Some COLLEGE STUDENTS would benefit from owning a home

Did you realize that you're buying someone a building, and did it ever occur to you that it might be a good idea to buy it for yourself rather than for your landlord??

There are many college students at MSU, LCC, or wherever, that would find a great deal of benefit in buying a home while attending college.

• Tax write off - you might as well legally shelter as much money as you can
• Investment - real estate has proven to be 1 of the best investments ever
• Establish credit - a good credit rating will only help you down the road
• Build equity - your home's appreciation will be a future downpayment
• Monthly payment/income - let your friends pay your "rent"

Contact Sue and Keith

I hate giving bad news to sellers

One of the worst parts of being a realtor, is having to tell a seller week after week that there have been no offers on their home. I hate giving bad news to sellers.

Tonight I had to tell several owners of my listings that we hadn't received any offers, give them unflattering feedback from potential buyers who had toured the property, and suggest that we will need to reduce their asking price to attract some serious buyers.

It's disappointing to them, and that makes it disappointing to me. We sometimes feel like we've let them down.

The truth is more important than putting a deceptively upbeat spin on a less than stellar housing market, and our sellers deserve the truth so they can make informed decisions about their homes.

Contact Sue and Keith

Emotion is king when buying or selling a home

What does emotion have to do with buying or selling a home? Everything.

The last time I bought a home, emotion was THE major factor in choosing the home we live in now. I know that I'm not the exception.

Emotion is what causes buyers to buy, sellers to decide what price they'll take or not take, and all too often can cost buyers a home, sellers a sale, or thousands of dollars lost by both sides.

Contact Sue and Keith

Curb Appeal-outdoor clean up helps sell homes

Curb appeal. That's what we call it when a home looks inviting from the street, beckoning buyers to come inside to see what other delights await them.

The beautiful spring weather we have been experiencing in the Lansing area should light a fire under sellers to get out there and clean up their yards.

This is probably the easiest, least costly avenue at a seller's disposal to make their home appealing and maybe even get more money in the process.

Contact Sue and Keith

Selling your own home isn't much fun (or easy)

I wish I could help more For Sale By Owners (FSBO's) sell their homes.

Selling your own home really isn't very fun, and isn't easy either.  This isn't a put-down, but most people just aren't equipped to sell their home. I mean, people don't operate on themselves, they go to a doctor. Why the FSBO's go to the experts to help sell their homes?

I think many FSBO's want to save money and think they can sell their home and make more profit without me. Unfortunately, that usually isn't the case.

Contact Sue and Keith

Refinancing your mortgage-a good idea that can cause problems later

I have had the unfortunate opportunity to counsel several home owners over the past few months about the realities of pricing their home for the market.  When you tell them that the price they want for their home is unrealistic and buyers won't even look at the home at that price, let alone give them that much, it is not uncommon to hear them say, "But we can't price it lower because WE NEED THE MONEY."

The reason they need the money is that they refinanced during the mortgage refinancing boom that started in 2001, but took equity out of their home when they refinanced to pay off credit card debt, living expenses, vacations...  You can only take the equity out of your home ONCE.

The answer for these people is to QUIT SPENDING. But how do they fix their problem now?

Contact Sue and Keith

Tour homes ONLY with your buyer's agent

When you're working under contract with a realtor who is your Buyer's Agent, don't go see a home with the listing realtor.

Many buyers think it's the listing realtor's job to show you the home, that there's no harm in the listing realtor showing you the home, or that there's no way the listing realtor is going to get any information out of you that will hurt you.

WRONG.

Contact Sue and Keith