Real Estate Season is Here

Yes, it has finally arrived. This is the time of year when the MLS or Multiple Listing Services go up like crazy in all most every city, town and village.

So, what does this mean for you? Well, it might mean absolutely nothing...or, it might mean a huge profitable opportunity. How so you ask? Read on...

Spring, generally as mentioned is the time for realtors. It is a great time to buy and sell or both, depending on your situation. So, the market becomes ripe for action. As an example I have been watching the market in my home town for the last month or so and it amazes me how dramatically the asking prices have dropped. One home up the street that was $119,000.00 is now $91,000.00. That is a serious drop.

My question was why? So I did some digging and it seems here locally, that homes that are higher priced are actually doing it for a very smart reason. Have a high price in "dead" season of the year...it peeks the buyers interest, and then drop it in a huge loss (or so it seems) and you have a buyer frenzy. Case in point, this home I am speaking of was appraised originally at $86,000.00 Smart move on the owners part when you think about it. To the buyer they are getting a sweet deal and for the seller if he sells it at this price or higher if there is a bidding war going on, he makes a profit of at least $5,000.00 Nice.

Now in all honesty the first time home buyer doesn't know or care about this usually, they are too busy trying to get there finances in order to obtain a mortgage. The end result being a win-win for everyone involved.

Why this Topic?

I am speaking about this today to illustrate how some strategies are used when supply and demand hits, so I have a few suggestions for you today. Here they are:

1. Get the home appraised, if possible. Could save you loads of your money.

2. Get the home inspected. This is a MUST. It costs a few hundred dollars but it's worth it for piece of mind and protects you if any ill should befall you.

3. Most importantly, go in with a much lower asking price than you can actually afford, this will give you some haggling and may very well save you a few hundred dollars if not a few thousand.

Take a look around as always, this is a very lucrative time of year for the home owner and home buyer in terms of cash flow. These posts are designed to help you along the way to owning a home and saving you time and money.

As always take a look around and keep up to date with the posts and the information you find in the pages, if something catches your eye. Write it down, explore the options as presented.

Until our next discussion.

Garret Belisle is the author of a blog designed to help you on your way to home ownership, and some helpful tricks on down payments and credit repair. You can view the site here at http://www.gbcmortgage.blogspot.com While your there make sure to sign up for the weekly updates on the bottom left corner to keep up to date with all of the latest advice.

In The News:


Motherboard en_us

Will Hurricane Irma's near miss sink Miami real estate prices?
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After a nerve-racking week of waiting and watching, South Florida was spared the worst of Hurricane Irma's 185 mph winds. It's too soon to tell if Irma will have any substantial impact on South Florida real estate. Empirical evidence will take a few ...
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Seeking Alpha

Aon To Acquire The Townsend Group For Real Estate Advisory
Seeking Alpha
Townsend provides real estate advisory and management services for pension funds from offices in the U.S., London and Hong Kong. Aon wants to add AUM and bolster its real estate asset class capabilities with the deal, which appears to be a smart move ...


MyPalmBeachPost

After Hurricane Irma: Will home real estate sales stay strong?
MyPalmBeachPost
After this flurry of deals is closed, real estate agents, lenders and experts are wondering about the future of the market. Will Hurricane Irma hurt sales or be a short-term blip on the landscape? Up until the storm, the market remained strong: “I had ...
After Hurricane Irma, real estate broker checks up on Palm Beach homesPalm Beach Daily News

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CoinTelegraph

Blockchain Laying Foundations for Real Estate Market: Experts
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An overview with experts opinion on how Blockchain has managed to improve real estate around the world.

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The Real Estate View For A Second Lost Decade
Seeking Alpha
The National Association of Realtors (NAR) reports today that sales of existing homes in the US were down 1.7% in August 2017 from July. At a seasonally-adjusted annual rate of 5.35 million, that's the lowest pace for resales since July 2016. It is yet ...

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CBS Miami

Scammers Stealing Down Payments By Hacking Real Estate Agents' Email Accounts
CBS Miami
“The timing was impeccable, actually,” said Kristina Soloviena, a real estate agent. Like most realtors, Soloviena emails clients all day long. However, a year ago, unknown to her, criminals hacked her Gmail account, monitored the correspondence ...

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Forbes

Two Smart Long-Term Real Estate Options
Forbes
But if you think you're going to make it, now might be a good time to take a serious look at where you want to establish your business. Long-term business real estate planning means either direct ownership or long-term lease. I've covered the direct ...


HousingWire

Former attorney gets 3+ years in prison for defrauding real estate investors
HousingWire
A former attorney from New York will spend more than three years in prison for defrauding real estate investors out of at least $1 million. According to the U.S. Attorney's Office for the Southern District of New York, Brandon Lisi received a sentence ...


CNBC

Trump lawyer: Moscow Trump Tower 'solely a real estate deal'
CNBC
The proposal to build a Trump Tower in Moscow during his presidential election was "solely a real estate deal and nothing more," says Pres. Trump's lawyer.

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New York Post

The architects who built Gilded Age NYC are having a real estate revival
New York Post
A just-listed 6,000-square-foot residence at 16 Sunset Road in Kings Point, NY, may seem like any tony Gold Coast Long Island property, but there's more here than meets the eye. For $10.5 million, through Douglas Elliman, its new owner will receive a ...

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