Real Estate: Tips

1
Real Estate Tips Trends

• AKA-Nomics
• Presented by the Ivy Business AKAdemy
• October 6, 2007
• Gamma Zeta Omega Chapter

2
The American Dream The Current Picture

• Everyone wants their American Dream
• Many people are in over their heads with
  adjustable rate mortgages
  
• Banks are tightening loan qualifying standards
• Insurance and property tax increases making the
  dream even more difficult to obtain
  

3
Case Study The Market is Cooling

• This summer, on the GZO website, a Soror who is
  planning to relocate next year, put her home on
  the market now a full year in advance due to
  the cooling market, she wanted to get a
  head-start and allow sufficient time for a sale.
  
• Is this a smart strategy or a reality check?
  Both. The real estate market is cooling!
  
• Signs of a cooling market
• The market is cooling meaning sales are less
  brisk than 2-4 years ago
  
• Its a buyers market buyers are holding out and
  taking more time to decide on a home purchase
  
• Sellers can no longer name their price
• Homes stay on the market longer

4
Tips Trends

• Tip If you dont have to be in the market
  dont get in!
  
• Trend Homebuilders and developers are offering
  tremendous incentives (discounts, upgrades,
  assistance with sale of existing home, etc.)
  
• Tip If youre a seller, consider hiring a
  stager to prepare your home for sale
  
• Trend Individual home sellers offering cars,
  vacations other attractive incentives
  
• Tip If youre a buyer, be patient, watch the
  market closely, youre in the drivers seat
  
• Trend Many homeowners are opting to rent vs.
  sell
  
• Tip Hire a savvy, experienced realtor with
  extensive marketing resources and experience. If
  youre a seller, get your home noticed if youre
  a buyer, see everything, shop compare

5
References

• For more information on the Florida Housing
  Market, read Is Florida Over, Wall Street
  Journal, September 29, 2007
  
• http//online.wsj.com/public/article/SB11910080231
  2142956.html