HomeRun Homes Rent to Own Homes Blog

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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label home price. Show all posts
Showing posts with label home price. Show all posts

December 29, 2010

Two Points: Selling An REO Property and Home Prices Dropping

Hi Folks,


   Hope you're having a peaceful week. 2011 is just a few days away. Doesn't 2011 sound like such a futuristic year?

   Well, today, I would like to share a post that was written by Bob Corcoran, titled, "Five Tips to Sell REO Properties Faster", and the reason that I am sharing this with you is that this post goes hand-in-hand with my post of November 26th, which is titled, "Post-Foreclosure REO Property Maintenance". Corcoran's post looks at how to prepare an REO for sale from a Realtors point of view, but is also applicable to investors or any other parties.

   Corcoran says that, "The house needs to look just like any other house on the market in the neighborhood.", and he points out his 5 tips as follows:

1. Be a cleaner: Corcoran emphasizes that you, "have to be willing to do what it takes to get the house sold."

2. Think colors: Corcoran states that, "Red says to stop and yellow adds a warmth and coziness."

3. Add smells: "If it smells like bad, it doesn’t matter what it looks like.", says Corcoran, who suggests using air fresheners and a fresh pot of coffee. He says that, "The smell of coffee imparts the best of emotions. It tells people this is a good place to raise kids, it gives a warm and a comforting feeling."

4. Put up signs: Corcoran says that when you're marketing an REO property, "you need to make sure that it’s depersonalized and use cue cards – white piece of paper on the wall – that explain to prospective buyers the positives on what’s been done to the property."

5. Communicate often and regularly: This tip refers to the relationship between the bank and the Realtor, and Corcoran advises that, "When banks assign the Realtor to a property, it expects them to become the eyes and ears for everything that has to do with that property."

   These are some fantastic tips, and are of great use to the entire Real Estate community.

   Now, on to Part 2 of this post: The S&P/Case-Shiller Home Price Indices were released yesterday, and as per the report, "Six markets – Atlanta, Charlotte, Miami, Portland (OR), Seattle and Tampa – hit their lowest levels since home prices started to fall in 2006 and 2007". Bright Side? It looks like the major cities in California bounced back. Do you live in California? If so, this might make you happy?

   Thanks for hearing me out! Comments? Questions? Suggestions? You have tons of options for feedback here.

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #reo #foreclosure #realtor #realestate

December 1, 2010

Free Land Offers ? Are Things That Bad ?

Hi All,
   Welcome to the first day of December, and the Holiday Season. It sounds like a cliche, but I cannot believe how fast the year went buy!

   Well, it had to happen eventually; things have been so bad, that there are now 7 towns that are offering land for free (Yes, you heard me...for Free !). Colleen Kane from CNBC.com put out an article titled, "7 Towns Where Land is Free", and it lists the 7 cities as Marne, Iowa, New Richland, MN, Kansas (multiple towns !), Beatrice, NE, Muskegon, MI, Curtis, NE, and Camden, ME (I've attended the "Lobster Festival" in Camden, and it is gorgeous!).

   You know, if we spoke about free land just a few years back, you might have insisted I ought to be locked away for speaking such falsehoods, but this is real, folks !

   In keeping with the topic of tough-times, the S&P/Case-Shiller Home Price Indices were released yesterday, and the figures showed this U.S. National Home Price Index drop 2% in Q3 of this year, and 1.5% off from their levels from a year-earlier. Thus the prospect of potentially more free land offers.

   What are your thoughts on these "Free land" offers. Do you know of any other towns that should be offering free land to help their waning population and decreasing land and property values? Please chime in and let us know.

Have a Great Day, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

October 11, 2010

Revisiting the Rent vs. Buy Debate

Hi All,
   Happy Columbus Day to you. For those of you who have the day off, congratulations. For those of us working, well, we have to work today!

   Back in June, we covered the much-debated topic of "Rent vs. Buy", and Trulia has released their Rent vs. Buy Index. As Blake Ellis, a staff reporter with CNN Money notes in his article, "Where to buy and where to rent", Trulia is using the following rule to make the Rent vs. Buy determination: If the home price is 15 times higher than the annual rent for a similar property, it is better to rent.

In terms of which cities were mentioned, Ellis cites Trulia's index as follows:

Where to Buy a Home:
Miami, Detroit, Jacksonville, Arlington, Columbus (OH), and Nashville

Where to Rent a Home:
New York, Seattle, Fort Worth, Omaha, Kansas City, and San Diego.

   How do you think Rent to Own fits into the picture? The funny thing is that it could apply to any of these cities, since it is often situation-specific instead of market-specific. Do you Agree? Disagree? Please let us know.

   Do you have any additional recommendations for any other cities not mentioned here? Let us know, as there might be an buyer, renter, realtor, or investor reading this, and we all like to share and help each other.

Have a Great Day, and Happy Rent-to-Owning !!

June 28, 2010

33% Drop in Sales? Where do we Stand?

Hi Everyone,

Welcome back. We hope that you stayed cool this past weekend, because at least for us here on the East Coast, the humidity has been searingly painful. However, there are people who adore this weather, which shows that we are all unique in our likes and dislikes.

We had a whirlwind week here last week, with some fantastic publicity regarding Rent to Own Homes, along with a lot of work we have been doing on the website infrastructure (including making the website resolve even quicker on your screen).

Looking back to last week, in retrospect, we saw some numbers come out that were a little bit of a shock. By now, most of you already heard that new home sales (new single family homes) plunged about 33 percent from April to May. The tax credit incentive for purchasing homes ended April 30th, so that is a major contributing factor, but are we really shaping up yet? Are the fundamentals of the economy that strong yet to tout a recovery? Yes, there are definitely some promising areas in the country in terms of economic and housing recovery, but there are a lot more regions that are in trouble. Is it that a lot of the incentives are not as far-reaching as anticipated? Or just that it will take more time? On that note, we can only assume that "time will tell", as the old cliche says.

Now, there are some more numbers coming out tomorrow (S&P/Case-Shiller Home Price Indices), but these have a 2-month lag, so I really am interested in seeing their next release (the next one after this release). Let's all keep an eye on them together, as it effects each and every one of us.

Advice for the moment: Keep your focus on the Rent to Own Home that you are either looking to buy or looking to sell. Stay tuned to us for new information, announcements, and contests. We will try to be your liaison and will try to provide you with updates whenever we have them.


Have a great week, and Happy Rent-to-Owning !!