Joe Cline blogs about the pros and cons of online house hunting, and shares his expertise on the subject.

“Do look at several different real estate websites. Although a good listing agent will take the time to list everywhere possible, you may find some properties that are on one site but not on the other.

Don’t start looking for homes until you consider your price range. Work on your budget so you know how much you can afford. Consider getting pre-qualified so you can be absolutely sure how much you can afford.”

House hunting online has become a very powerful tool for potential homebuyers. Just be sure you are using it to its full advantage and try not to get caught up in thinking you can handle the entire process on your own. It’s a great way to start, but the process can be made easier with a professional agent.

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When a buying a home- most likely the biggest purchase you are ever likely to make- you want to be as prepared and educated as you can be, so you will know exactly what is going on while your agent is working to get the best deal for you.

Harry Khayalian spells out the basics you need to know when taking that big step and making an offer on a property.

“A written proposal is the foundation of a real estate transaction. Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal.

This proposal not only specifies price, but also all the terms and conditions of the purchase. For example, if the seller offered to help with $2,000 toward your closing costs, make sure that’s included in your written offer and in the final completed contract, or you won’t have grounds for collecting it later.”

The more you know about what is going on behind-the-scenes between brokers and the negotiating that usually takes place during a home sale, the better experience you will have.

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Commercial landlords are feeling the pinch of the economical downturn just as much as residential sellers.  Office space owners are increasingly being forced to come up with ways to attract new potential tenants and retain the ones they already have.

Stuart Dobson blogs about the current trends when it comes to commercial real estate.

“Recently, I’ve been reading many articles – both online as well as through print publications – regarding landlords slashing their rents and increasing incentives for companies (tenants) to stay at their current location.  As I read more and more, landlords should be very wary of all their tenants.  Tenants have a lot more negotiating power than ever before.

Regardless, rents are down in many places across the country, which means that there will be many commercial bank notes not performing as well as they should be.  Banks and landlords should be prepared for tenants looking for a better lease at another office space.”

Special incentives and lowered rents are among some good strategies to entice retailers to sign that commercial lease, and it will be interesting to observe whether those strategies will be enough.

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If I make an offer on a house where the owners have listed the house in their bankruptcy, what happens to the offer? Who makes the decision? How long does it take for them to decide?

-Steve

This question calls for my universal answer – “it depends.” My professional opinion is, find another house.

If this home is listed in the bankruptcy, you are relying on the court to decide. If this is absolutely the only house for you, then I would consult a bankruptcy attorney to see what strategies you have available to you. Remember, bankruptcy is Federal jurisdiction, and can take an extended period of time.

I was working on a short sale over two years ago, and in the middle of getting the bank’s approval, the seller decided to file for bankruptcy. I advised the buyer’s agent, and they withdrew their offer. I withdrew the listing, and the bank, I believe, wrongfully foreclosed on the property in May of 2008. Because of the issues with the bankruptcy, the bank was not able to put that house back up for sale until July of 2009.

Bankruptcy is a long, arduous, legal proceeding, and you need competent legal representation if you do decide to pursue this home.

Best of luck!

David Welch specializes in residential re-sales and new home construction at RE/MAX 2000 Realty in and around Orlando, FL.

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Can you find deals at real estate auctions?

Well there are two types of auctions. There are auctions that are held by an auction company, and you can definitely find deals there. The problem, however, is that people  can get carried away, and they can bid the price up to market.

The other kind of auction is for a forclosure, and there, you can get substantial deals because  it’s a cash transaction. So, only those who show up and have cash can bid, and many times, if you’re lucky, the house will go way below market.

A foreclosure auction is mostly for investors and people who have cash that are experienced in this process.

Tom Douroux is a Broker with HomeBuyer Direct  in San Dimas, CA.

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Improvements in the economy have been small but varied. Most sectors had seen growth over the past few months except unemployment. However, the unemployment numbers for the month of November were just released, and although the improvements are incremental, they are certainly a step in the right direction.

David Welch blogs about how job growth will affect the housing market:

“The employment report came out and the expectation was that 130,000 jobs would be reported lost in November, but the actual number was only 11,000. The better news was that the unemployment rate actually went down a couple of ticks to 10%. It may not be time to start celebrating, but it is close.

As the employment situation improves, people will begin to purchase homes at a more brisk pace, absorbing the current inventory. As the inventory begins to go down, prices will begin to rise. At some point, new home builders will begin to see increased sales. They will need to step up production leading to improvements in construction employment. I think we will be seeing some real improvements by the end of the first quarter of 2010.”

Unemployment has fallen just in time for the holidays. A major factor affecting consumer confidence, the jobless rate has kept many from spending or turning to credit this holiday season. As Welch speculates, larger steps towards economic improvement could be the result if unemployment numbers continue to fall.

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All of us remember the holiday commercial with the luxury vehicle wraped in a big red bow and parked on a snow covered driveway. In the commercial, the recipient of the vehicle looks like they’ve recieved the perfect gift. While it may be a little harder to fit a bow around a home, it’s likely this holiday season will see increased sales despite the usual winter slow down.

Chuck Strauss blogs about why sales this year may be different for a number of reasons:

“Inventory is down. From it’s high of almost 24,000 residential properties and 8,000 condos in 2006-2007, current inventory stands at about 14,000 residential and 4,500 condos. That’s a 42 percent decrease in residential properties and 44 percent decrease in condos!

Average days on the market are down. This is very neighborhood-specific, but overall, market-wide, the numbers are declining, down about 5 days in both the residential and condo markets.

Average price is down. Normally, not a great sign, but closer inspection of these numbers is revealing. First, average price, month-over-month, has increased every month this year. That’s the first time that has happened in over 5 years, and a clear sign that things are getting better.”

These numbers point to a balanced market, Strauss continues. Due to the transition out of a buyers market, buyers will be eager this holiday season to take advantage of real estate deals before they lose their edge. Is a new home the perfect gift ? If it’s wrapped in a big red bow, it just might be.

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Your real estate website is essential to finding and converting leads. Most REALTORs® get a professional web designer to craft a beautifully designed page. Having a high-end web page is a great way to show off listings, but when someone visits your site they are looking for more than just pictures- they need content. The kind of content that lets them know who you are, what you know, and why they should choose you as their Realtor.

Lee Dworshak blogs about why your web site content is critical:

“Your success in real estate depends on having an interesting and unique real estate website. Even if you want a site just to display your listings, there are simple and inexpensive ways to make it a lead and commission generator.

The content is critical for the success of your site, if your goal is to generate leads. The interesting part is for your visitors and the unique part is for the search engines. The list below contains just some of the reasons you will want to get professional help in designing and optimizing your web site.”

Dworshak points out that content strategy has two fronts: One, of course, is for your readers. They have to be able to connect with you through what you write. Secondly, is the search engine value of your content. Good SEO will help search engines find you, bringing more visitors to your site. There are plenty of resources on the web if you want more information, or you can always get professional help.

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With one of the most viewed blogs on REALTOR.com® Blogs, David Welch has shown us that consistent blogging and a good attitude can help build an audience. He holds the number one spot on Google when “Orlando real estate blog” is searched, and he was recently on HGTV’s House Hunters. Throughout the last year, when many were finding it difficult to be positive and blog consistently, he was spending his time being optimistic about the future of the market.

David Welch blogs about why he is a Real Estate Optimist.

“I titled my blog Real Estate Optimist for a couple of reasons. First, the obvious one is that I sell real estate. But why Optimist and not Realist? Let’s face RealEstateRealist.com would be a great play on words, but I have seen time and time again on my customer surveys that my enthusiasm is what attracted people to me.

Believe me, I get down in the dumps too, it’s easy to be a pessimist. When was the last time you picked up the newspaper and read good news? Real estate has been a reliable investment in the past, and it is again now that the market has stabilized. If you don’t believe me, what about all those investors buying up foreclosures?”

Welch has been able to grow his business despite a faltering economy. His experience has shown him that real estate was a smart long-term investment not only for his money but also as a career.

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The recent government programs to assist homeowners gave the housing market a much needed boost. Millions of Americans benefited from incentives to buy or refinance their home. Both the first-time buyer tax credit and the Making Homes Affordable Act were  put in place to bring stability to the struggling housing market. Unfortunately, there have been a series of fraudulent claims taking advantage of these and other generous programs.

Erin Attardi blogs about fraudulent behavior:

“About a quarter of the inquiries I receive take on a much different tone. They tend to start something like this: ‘I bought my house in 2005 when it was worth $X. Now in 2009, it’s worth substantially less. I married my spouse in 2008 and he/she is not on the loan or on the title for my house. I would like to do a short sale and sell my house to my spouse.’ SORRY! 

Number one…doesn’t a scenario like that sound like fraud? Sorry, but I will not participate in that. Number two…I did not hear anything about a hardship necessitating a short sale. Number three…most lenders entertaining short sales require that the transaction be at ‘Arm’s Length.’ A short sale lender I have worked with several times requires a document to be signed called an ‘Affidavit of Arm’s Length Transaction.’”

Clearly, Attardi is not going to help anyone looking to take advantage of the system. REALTORS® like her have a code of ethics that guide their business. Although some of these people are just looking for ways to keep their home, many are trying to benefit from an already burdened system.

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