Lisa and Jim's Northern Nevada Real Estate Blog: November 2007

I'm very interested in securing information about long term disability insurance.   "Insurance" is a world of mystery to me ... especially disability policies.  They all seem very over priced and very expensive.

I'd like to invite a discussion on this topic, who knows about this or knows someone who knows about this?  I'd sincerely appreciate your input and comments. 

We've heard this question many times over the years and our answer is still NO with much more emphasis.  We have advertised in the L.A. Times, San Jose Mercury, Portland Oregonian, Sacramento Bee, Seattle Times, etc. over the years with the same results - it is very expensive and yields zero results.  It is a natural thought that such advertising would pan out, after all those are large population bases that feed our market.

The question becomes ... would you look in your local paper when looking for a property in Los Angeles?  If you are looking to move to Denver wouldn't you get a copy of the newspaper from Denver to check out the market?  That is in fact what happens.  We have many people planning to move to the area that subscribe to the Record Courier so they can keep their finger on the pulse of our market.

The biggest single reason we now say NO is the biggest change in our industry since the financial calculator ... the Internet.  People can not only see a list of homes in the neighborhood they want to live in, they can often take a video tour of them room by room by what is called a virtual tour.  We recently listed a home and the Seller told us how she just bought a home on the East coast via the Internet.  She shopped here in the comfort of her home, found two houses she liked, flew back to look at them, discarded the anticipated first choice as the pictures embellished the property, and bought the second choice.  We see that same phenomenon with people coming to our area - they know our product when they call and are just calling with the fine tuning questions or to make an appointment to physically see the property. 

Our Advice:  If you aren't getting showings ask your agent what can be done differently to achieve a different result.  Are the pictures touting your property of good quality, or is the agent's car in the middle of your driveway?  Worse yet - is there still snow in the picture?  What Internet presence do you have?  Are you priced right ... for today's market considering your property's location, features, aesthetics?  Is your property staged for sale?  Are there weeds around the sign ... is there a sign?!  Is the brochure box kept full ... is there a brochure box?!  Are you aware of the agent feedback after tours and showings?  Are you and your agent discussing that feedback to determine the viability of your position in today's changing market?

Homes are selling every day as a result of planning, focus and work on the part of the agents.  Your's will sell that way too - not by advertising over the hill. 

When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!  Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704, info@carsonvalleyland.com.

There are many market indicators that we monitor, and one of the most telling is how Sellers look for their edge in the market.  One needs an edge in today's market and many are looking for it in one, or more, of three ways: Price Reduction, Buyer Incentives, Selling Agent Incentives.  Price Reduction is the first step to moving towards reality - a necessity in most cases.  The market has spoken and prices are coming down - not crashing, but moving downwards.

Incentives for Buyers and Agents are getting interesting and, in some cases, amusing.  Consider those we've heard in the past week alone:  A $1,000 gift certificate from a furniture store for a Buyer; Round trip airline tickets for two for the Agent; 6 months no interest on the Buyer's loan; Rate Buy Down for the life of the loan; Dinner for eight at your house including the meal of your choice, wine, cigars (even for the ladies!), desert, and clean up; 4% or 5 % fee for the selling agents - some of these are from industrial Sellers that weren't even paying a fee to a selling agent a year ago!  The times have certainly changed and the smart Sellers and their agents are changing with them.

Our Advice:  Your situation will be unique to your property and circumstances.  Work with your agent to determine what "hot button" you want to push, that of the agent or the Buyer.  Regardless of what you do, you must be priced right to see any action.  Real estate signs are growing like weeds in the valley - we're being inundated with homes for sale.  Homes are selling ... if they have something special going for them to separate them from the market, i.e.- amenities including the proverbial location, price, incentives.  If you want to sell ... act on it! 

Is it too early to buy?  Not if you've found the home you want.  Don't delay - make your offer and get on with your life.  Waiting for the deal of a lifetime may simply cause you to compromise your ultimate purchase in the interest of price and that would be sad ... you are buying your home, your personal environment for the ensuing years.  Buy what you want and remember that the emotional return on your investment is an important consideration when buying your personal residence.  Get out of the market maelstrom - buy now with confidence and enjoy! 

When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!  Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704, info@carsonvalleyland.com.