Just when I thought I had seen it all...

With the advent of the Internet, marketing a home for sale has, to some, become a no-brainer. A flowery description, pictures, and a pri ce are all you need, right? Wrong.

A little while ago, I stopped calling myself a Sale Associate and started using the title "Real Estate Marketing Consultant". You might say "Oh, everyone want a title" but when you look at the actual meaning, the product I provide will make the difference between a home sale and a stale listing, a strong offer or a lowball. I earn my money not only by shuffling paperwork, but by how I market your home, where I market your home, and who sees your home. Simply put, I'm your PUBLICIST!#:

What makes my marketing so different from the 8600 other realtors in my county? I look at your home from the same context a buyer would - is it pretty? Is it clean? Do the pictures tell the story? Heck, does the main picture cause me to click to see more shots of the home

Here's a great example of a contrasting Main Home photos:

I was called to a listing appointment for a home that had been on the market for the course of 2 years...this was the picture of the home on the MLS before I took the listing...

Here's the picture AFTER I took the listing:

I employed an aerial photgrapher because I could not capture the unique design on the home from the ground. i also wanted to illustrate just how close to the water this home really is - and I did it without words...

It's equally as important to know WHERE your home is being marketed. I like to target market. Let's take my $3M Beach home on the Gulf of mexico in Clearwater Beach. The MLS is great, but maybe this property needs to be market INTERNATONALLY. I know how to do it, what it costs, and have access to international advertising that the average homeowner doesn't. Sorry, it's a trade secret until you list with me!

Who sees your home is very important as well. I'm not going to market my new 19 acre Horse Farm listing to beach buyers. I am going to hit websites and publications catering to horse lovers, LLAMA LOVERS (because they need farms, too) and other equine-oriented venues.

In this market environment, you need a Real Estate Marketing Consultant who will show your property in the VERY BEST LIGHT...period

So what's this "Mortgage Mess" all about?

Simply put, the lax underwriting, increasing foreclosures, and fraudulent lending practices have made mortgage INVESTORS leary of buying blocks of mortgages. Without that influx of pure cash, the lenders cannot continue to lend - hence Countrywide's recent access of it's 11.5 BILLION line of credit.

Hard hit are "Jumbo" mortgage rates - any mortgage over $417,000, due to the uncertainty of investors with regard to the secondary market.

SELLERS TAKE NOTE: If you have the resources available and are in a good financial position, consider offering qualified buyers a PMM, or Purchase Money Mortgage. With rates from 6% - 9+%, offering a 1, 2, or 3 year balloon mortgage at 5.87% would be a dream for any buyer currently in the market and looking to pull the trigger on a higher dollar property.

Obviously, it's a little more complicated than that - a seller should only consider making the loan with a substantial down payment by the buyer - IMO, no less than 15%. Besides, the buyer's credit should be STELLAR with proof of employment and income verification.

What we have to do is take lemons and make lemonade - thinking outside the box is the American way!

Any questions, contact me...

Florida’s housing market for 2Q 2007: Sales activity remains soft

Related story: NAR: Second-quarter homes prices improving but sales down in most states

ORLANDO, Fla. – Aug. 15, 2007 – In second quarter 2007, Florida's housing sector in many markets continued to report higher inventory levels of homes for sale, median prices edging down and sales activity reflecting a buyer’s market.

Statewide, sales of single-family existing homes totaled 37,709 during the three-month period, a decrease of 30 percent compared to 53,723 homes sold during the same time a year earlier, according to the Florida Association of Realtors® (FAR). The statewide existing-home median sales price was $239,200 in the second quarter; a year ago, it was $250,400 for a decrease of 4 percent. In 2002, the second-quarter statewide median sales price was $137,400, which reflects an increase of about 74.1 percent over the five-year period. The median is a typical market price where half the homes sold for more, half for less.

To gain insight into current trends in Florida’s real estate industry, the University of Florida’s Bergstrom Center for Real Estate Studies conducts a quarterly survey of industry executives, market research economists, real estate scholars and other experts. When assessing the state’s single-family markets, those polled in the second quarter 2007 survey viewed absorption activity as a sign the markets are continuing to move toward stability, said Dr. Wayne Archer, the center’s director. While acknowledging the potential impact of the subprime mortgage “meltdown” on Florida’s housing sector, along with the issues of property taxes and high insurance rates, Archer said, “Those of us who have watched markets for a long time realize the picture can change rather dramatically in a short period of time if something allows people to sell their house more quickly, such as a change in the property tax situation or a sudden improvement in the economy.”

Continuing low mortgage rates remain another positive influence on the housing market. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 6.37 percent in second quarter 2007; one year earlier, it averaged 6.60 percent.The latest industry outlook from the National Association of Realtors® (NAR) predicts that existing-home sales will continue to be stable over the next few months. Long-term fundamentals of the housing market remain favorable, said NAR Senior Economist Lawrence Yun, who expects a modest upturn for existing-home sales toward the end of the year.

“With the population growing, the demand for homes isn’t going away – it’s just being delayed,” Yun said. “More buyers, and cutbacks in new construction, will eventually draw down the inventory levels and support future price appreciation.”

Looking to Florida's existing condominium market, sales of existing condos also decreased during the quarter, with a total of 12,415 condos sold statewide compared to 16,566 in second quarter 2006 for a 25 percent decline, according to FAR. The statewide median sales price for condos remained relatively stable at $208,400 for the three-month period; a year ago, it was $211,200 for a 1 percent decline.Among the state’s larger markets, the Sarasota-Bradenton metropolitan statistical area (MSA) reported 2,365 existing homes sold for the quarter, a 4 percent increase compared to the 2,281 homes sold a year earlier. The market’s existing-home median sales price was $294,100; a year earlier, it was $318,500 for a decrease of 8 percent. A total of 948 existing condos sold in the market over the three-month period, up 2 percent from second quarter 2006, while the existing-condo median price decreased 9 percent to $246,900.

The Tallahassee MSA, one of the smaller markets in the state, reported that 1,178 homes changed hands in the second quarter, down 20 percent compared to 1,471 homes sold a year earlier. Over the same period, the market’s existing-home median home price rose 4 percent to $181,000; a year earlier, it was $174,800. A total of 102 existing condos sold in the Tallahassee area during the second quarter, a decrease of 30 percent from the previous year, while the existing-condo median price rose 4 percent to $153,600.

© 2007 FLORIDA ASSOCIATION OF REALTORS

DOUBLE CORNER LOT FOR SALE - NEW LISTING IN ST. PETERSBURG

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DOUBLE CORNER LOT! DOUBLE CORNER LOT! 2 BR, 1 BA home on a double corner lot! Newly refinished - hardwood floors in both BRs, neutral paint and tile floors throughout. Sunroom off of the kitchen can be used as 3rd BR with French doors. 1 Car garage, NEW roof in 2002, newer rebuilt air handler/compressor. Adorable bungalow style with curved archways. Super-clean house in terrific St. Pete neighborhood! One street away from Historic Allendale Terrace. Close to highway (I-275), many schools and downtown St. Petersburg.

$169,900 - call for more info, details, and pics

So, what kind of market are we in?

No matter what the papers say, no matter what Realtors, say, no matter what your uncle's brother's cousin (twice-removed) says...we are still in a DEPRECIATING MARKET.

How can I say that you ask...let's look at the raw numbers from Pinellas County Homes & Condos from May '06 - June '07:

The easiest characteristic of a DECLINING VALUE MARKET is the inventory vs. absorption (solds). Notice the steadily increasing inventory of properties for sale - then contrast it tour the declining (or flatlining) number of SOLD properties.

So what IS happening to prices? Good question - let's take a look:

Haven't you heard prices are falling? Apparently not, looking at this cumulative graph over the past year. Look at the red line for 04/06 - Average price of $272,000. Go to the far right and look at 06/07 - $272,000. Hmmm...that tells me that prices are holding SOMEWHAT STEADY if you take a macro viewpoint. Someneighborhoods have seen 20% - 30% decreases.

Notice the declining GREEN line...those are asking prices. They have steadily fallen as Sellers realize they are competing against each other for the savvy buyers. Average ASKING prices have fallen appr. 18% in Pinellas County - NOTE I said ASKING PRICES, not necessarily sales prices.

So what's going to happen - honestly, that's anyone's guess. However, if you look at the numbers of For Sales, Pendings, and Solds (Graph #1) over the last 3-5 months, you will notice they do not change much month over month - that indicates stabilization in our market place.

Buyers, it's probably about hit bottom - maybe another 5%, which you can easily capture with good negotiating. Sellers, if you get an offer 5%-7% b elow your already "low" asking price, don't be insulted - it's simply the market.

Good luck!