Here are some tips for getting your home decor swap in working order:

1. Make a Guest List: Dream up who would be open and interested to this idea. Inviting not only eco-minded friends, but also style mavens and people who have commented on your home can help get an eclectic mix of interested parties and tastes to come. Keep in mind the next tip when deciding how many people you can fit.

2. Set the Boundaries: For starters, think about what types and sizes of pieces will fit in your hosting space. Can you fit couches, recliners, and dining room tables in your space? If not, you may want to either limit the items to portable and small decor items or invite people to bring pictures of their larger pieces. Next, consider if there will be any monetary exchanges involved in the trades. What happens if someone wants your living room lamps, but you don’t have room for any of their pieces? Make sure you think through the guidelines for the trading to avoid uncomfortable situations.

3. Host(ess) with the Most(ess): Give yourself ample time to prepare your own space to host everyone because you never know what might show up! If you’ve left the guidelines for items pretty loose, request that anyone with larger items notify you ahead of time so you can clear out space (and agree to whether they will be taking it home if no one chooses their item). Of course a few locally sourced snacks and wine never hurt…except for white furniture, so think through what types of snacks might leave residue on hands or stains on furniture.

4. Take Back Policy: Unlike those jeans from 10 years ago that you can’t fit into anymore, parting ways with home decorations can be difficult for some people. It may be helpful to set-up a “Take Back Policy” ahead of time or agree to one once everyone has arrived. If seeing your favorite painting stuck in someone’s mud room is going to upset you, you may want to hold on to it or consider other donation options like Goodwill.

Just remind everyone that it is important to be able to truly let go of the items they have brought with them and not to be hurt if their pieces don’t have a new home by the end of the evening. And of course we don’t need to remind you to have fun! Redecorating your home with new-to-you can and should be inspiring.

So have at it, and let me know how it goes!

Don’t forget to call me when you decide to sell your home or property or if you know someone who may be in the market to buy or sell.  With interest rates at an all time low and active buyers ready to purshase, now is the best time to consider your options for upgrading your real estate opportunities.  Call Hollie Hansen at 850.258.2602 or email me at holliesellshomes@gmail.com today!

Article provided by: http://.apartmenttherapy.com/how-to-throw-a-home-decor-swap-138162

One of the first things many homebuyers look for are the unmistakable signs of something called ‘pride of ownership.’ As a whole, it’s a relatively intangible concept: there are just homes that have it – reeking of their owners’ love and meticulous care for the property — and homes that, well, don’t.

I’ve watched firsthand as buyers who like a cute home that is in generally good shape literally talk themselves into looking at a more homes once they start to notice one rickety gate, which snowballed into a nitpicky laundry list of little, tiny fixes the seller had left undone. The challenge is that between deciding whether and when to sell, staging, interviewing agents and determining a list price, it can be tempting for homeowners to fall into the trap of deferring maintenance on a home they might sell soon.

Whether you plan to put your home on the market next week or next year, here is a short list of  home maintenance items you should put on your Spring to-do list, stat, if you want to attract qualified buyers and let your home sweet-talk them into making a sweet offer:

1. Banish chips, scuffs and the like with a fresh coat of paint. I believe that eliminating nicks, scuffs and scratches on any painted or finished surface is one of the cheapest, easiest and most impactful spruces a seller-to-be can do.  That’s because these little tiny blemishes create a shabby appearance on a home that might otherwise be in great shape, but can be entirely banished with a good washing and some fresh paint.

This goes for interior and exterior walls, floors, and especially any sort of trims that are painted white, as is common with crown and floor moldings – scuff marks and blemishes seem to pop out from these items. Also, the edges of cupboards, doors and drawers are places where chips and nicks are so common that homeowners overlook them, but can be super visible to buyers who visit your home for the first time.

2. Brighten, polish and replace all trims.  One day, I’ll do a scientific study, and I predict the results will reveal that if you put two identical homes side-by-side and give one a set of tricked-out trims – exterior shutters, front door, eaves – even your house numbers, door knockers, kickplates and other exterior hardware – people will rate the house with the beautiful trims way higher on the ‘pride of ownership’ scale than you’d expect.

Go stand on your own curb to get the buyer’s-eye view of your home, and then drive around your own neighborhood or the nicest part of town and flip through some home improvement mags or websites for ideas.  If you can add attractive trims, freshen up the ones you have or paint them to create an unexpected but attractive color combination with the body of your house, you can skyrocket your home’s standing on my (newly invented) ‘pride of ownership’ scale.

3. Furry, drippy, noisy or broken HVAC systems. Maintaining your heating and air conditioning systems is not that expensive, but buyers think it is. In fact, your furnace  and AC are precisely the sort of major household machinery that intimidate first-time home buyers.  So, if they show up to the open house or a private showing of your home in June and the AC is making a funny knocking sound or just flat out doesn’t work well enough to keep the house cool, buyers might perceive that as a more serious red flag than it truly is.

Does your AC has that furry ‘science experiment’ look to it? Not only are you paying for the energy it’s probably wasting to push the air pass all that dust and dirt, the gross-out factor will have even the hardiest buyer wondering what else might be wrong with your home.

On the flip side, letting prospective buyers know that your home’s HVAC systems have been recently maintained or upgraded is a nice touch that makes itself obvious during showings and allows buyers to breathe a sigh of relief when it comes to concerns about short-term repair bills and the comfort level of family members who may have allergies and asthma.

Side note: if your AC does make a funny sound you might be so accustomed to you can’t hear it anymore – check in with your agent unless you know as a matter of fact that your AC is in tip-top shape. One more side note: if you live someplace where it gets cold around the holidays and you don’t plan to list your home until wintertime, right now may be the ideal time to have your heating system serviced. Off-season repairs and maintenance are often discounted.

4. Mend and tend to your fences, gates and screens. These items may not jump out at us in our own home – in fact, these are things I often see sellers skimp on or run out of time and money to tend to. And it’s easy to rationalize your way out of dealing with them, as they seem like relatively inexpensive fixes for buyers to make themselves.  But screens with holes in them and gates that don’t budge or hang off their hinges are precisely the sorts of things I’ve seen make buyers walk back through a home looking for other flaws; and anything to do with fences makes them envision neighbor disputes over bills.  You have the power to avoid sparking these concerns in the minds of house hunters by mending these items this Spring.

5. Doors, cupboards and drawers. One creaky door or squeaky cupboard does not kill a deal. But keep in mind that in some homes, other than the lights, these are the only functioning systems of your home that house hunting visitors will almost certainly use during the course of a viewing. Making sure your entry, interior closet and cupboard doors are in good cosmetic shape and that they work well and don’t stick is an easy, inexpensive way to position your home as a (literally) well-oiled machine.

One point of clarification – it’s less the case that buyers will notice, ooh and ahh over your smoothly sliding drawers than that they will notice and grow concerned if they don’t.

6. Have everything cleaned and washed. Even the most immaculate of housekeepers can realize a massive refresh to the look, feel, smell and the overall air quality of their homes by having professional cleaners come take a tour through the place. Springtime is a great time to ask your agent for referrals to the best local vendors to power wash your house, windows and driveway, as well as to have your carpets, rugs and window coverings cleaned. For those who are on a tight budget, many vendors offer Spring cleaning promotions for these services right about now (and if your budget is even tighter, there are products you can buy and machines you can rent to do these things yourself – just make sure you account for the value of your time).

7. Shred it up.  Some might say this is more like Spring cleaning than home maintenance, but I’ve noticed that the clutter of boxes and boxes of paperwork, old file cabinets and the like have a tendency to contribute to the sense that a listed property might be unkempt, the aura of  stagnation. If you have no cash to do anything else on this list, one thing you can do for free is to go through all your files and boxes, get rid of old papers and shred anything with sensitive information.

Just think – you’ll have to do it anyway when you move, so this is like giving yourself a head start and your attic, basement office or other rooms a fresh start. You can count it as a staging tactic as well, as it gives the rooms at issue some added visual white space, making them seem larger!

When you need someone with the experience and knowledge to assist you with your most important real estate transacti0ns, call a real estate professional.  I would enjoy the opportunity to work with you, whether you’re trying to find your next investment or you want to find your dream home.  Call 850.258.2602 or email me at holliesellshomes@gmail.com for more information or to set up an appointment to meet with me today. 

 By Tara-Nicholle Nelson | Broker in San Francisco, CA

Lynn Haven is a charming community on the Bay, which has managed to retain that small town atmosphere even as it continues the rapid growth along the Highway 77 corridor. Having just completed its centennial year, the city has a lot to be proud of. A thriving business community, beautiful parks, and a unique history that is just starting to make a comeback. On January 11, 1911, the first offerings of land in the new “Lynn Haven” took place. One “town lot” and a five-acre plot outside of the new colony were offered as a package for just $150.00. Property values are quite a bit higher and the history of Lynn Haven is now experiencing an awakening. Last month Secretary of State Ken Detzner announced Lynn Haven Main Street as the Florida Main Street Program of the Month and with the recent renovation of Historic Roberts Hall and the streetscape improvements at Florida Avenue and 9th Street, this downtown area of Lynn Haven is coming alive. The growth and development along Highway 77 into Lynn Haven has been phenomenal. In the last 5 years, the area has seen a new Wal-Mart Superstore, Starbucks, Innovations Bank, Zaxby’s and Dairy Queen. Current projects include: Sonny’s Barbeque, Dunken Donuts and Whataburger. As new construction nationwide has slowed since 2008, the City of Lynn Haven has managed to continue the growth into its second bi-centennial. While the growth in Lynn Haven seems to be accelerating, as a resident of Lynn Haven’s downtown CRA area, the Community Redevelopment Agency, I am excited about the continued efforts of the CRA to promote a family-oriented, walkable community with a vibrant small-business friendly downtown area while preserving the local, small-town heritage. All this growth in the area is for good reason. Lynn Haven, Florida is a wonderful place to live with beautiful parks, such as Porter, and Kinsaul Parks on the Bay, Cain-Griffin, Rogers and Pine Forest parks represent our neighborhoods and Sharon J. Sheffield Park in the heart of Downtown Lynn Haven. The 60 acre sports complex on the North side of the city was designed as a focal point for community sports and activities for all ages. The complex features 6 lighted ball fields, 2 football/soccer fields and an indoor basketball court, as well as nature walking areas. Lynn Haven, with the growth along Highway 77, the wonderful recreation facilities, and the preservation and restoration of the historical downtown area, make it a unique and wonderful place to come home to.

For more information regarding real estate opportunities in Lynn Haven please call me at 850.867.0836 or email me at darrell.turner@countsrealestate.com.

DARRELL TURNER

Panama City, Fla. -  For 30 years– the Community Redevelopment Agency has strived to bring more businesses to Downtown Panama City. Since the 1980′s businesses have moved out– but on Thursday, a new business moved in.

Ink Trax, a custom t-shirt graphic and printing company began cranking out t-shirts from their new location about two months ago. With their innovative designs, high powered machines and their state of the art facility, the sky’s the limit.

“It’s a great place to be, it’s historic, it’s beautiful and it’s got a lot more potential than where it is right now.”  Josh Rich, an Ink Trax graphics designer says.

On Thursday– city leaders celebrated Ink Trax’s grand opening with an after hours block party.

“Driving through downtown a year before I got elected, I was thinking about revitalization and this just kind of gives me goose bumps. This is what it’s all about. This is what the CRA is supposed to be doing.” Mayor Greg Brudnicki says.

The CRA helped bring in Ink Trax—they have a long history of showcasing what downtown Panama City has to offer.

“We do have potential here and I think people see the future plans that we’re making and the fact that people can do business here.” Director William Whitson says.

Over the last three decades, for lease and for sale signs have clouded downtown’s success. Foot traffic is non-existent after 5 p.m., but Whitson says progress will take time. “This is not a sprint, it’s a marathon and it’s going to take patience and it’s going to take effort and it’s going to take real hard work, but we’re rolling up our sleeves and we’re doing that hard work.”

The CRA offers several district-wide grants for commercial and residential improvements. So far, 70 to 80 thousand dollars have been awarded to eligible applicants.

For more information regarding real estate opportunities in and around Panama City, Lynn, Haven, or other areas of Northwest Florida, please call Hollie Hansen at 850.258.2602 or email me at holliesellshomes@gmail.com.

Article submitted from newshearld.com

The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales.

Not only is a short sale an effective foreclosure alternative when home retention is no longer an option, but it keeps homes occupied and helps to maintain stable communities, according to the Federal Housing Finance Agency (FHFA).

Addressing real estate practitioners’ No. 1 complaint about short sales, FHFA directed Fannie Mae and Freddie Mac to establish a new uniform set of minimum response times that servicers must follow in order to facilitate more efficient short sale transactions.

The GSEs’ new short sale timelines require servicers to make a decision within 30 days of receiving either an offer on a property under the companies’ traditional short sale programs or a completed Borrower Response Package (BRP) requesting short sale consideration, whether it’s through the federal government’s Home Affordable Foreclosure Alternative (HAFA) program or a GSE program.

If more than 30 days are needed, servicers must provide the borrower with weekly status updates and come to a decision no later than 60 days from the date the BRP or offer was received.

According to the GSEs, this 30-day add-on will provide some leeway for servicers who may need more time to obtain a broker price opinion (BPO) or a private mortgage insurer’s approval for a short sale. All decisions must be made within 60 days.

In the event a servicer makes a counteroffer, the borrower is expected to respond within five business days. The servicer must then respond within 10 business days of receiving the borrower’s response.

The GSEs plan to use the new short sale timelines to evaluate servicer compliance with the Servicing Alignment Initiative.

Edward DeMarco, acting director of the FHFA, says the GSEs new borrower communication and timeline requirements for short sales “set minimum standards and provide clear expectations regarding these important foreclosure alternatives.”

GSE servicers must comply with the new minimum communication time frames for all short sale evaluations conducted on or after June 15, 2012, although servicers are encouraged to begin implementing the new requirements sooner.

“I applaud Fannie and Freddie for finally coming out with real guidance with real world timelines for their servicers,” commented Anthony Lamacchia, broker/owner of McGeough Lamacchia Realty Inc., which specializes in short sales. “There is no question that this will help short sales and the market as a whole.”

Last year Freddie Mac completed 45,623 short sales, a 140 percent increase since 2009. Fannie Mae’s short sale completions shot up by 101 percent over the same period, totaling around 79,800 in 2011.

Call me today at 850.896.6939 to discuss the many real estate opportunities available in Northwest Florida.

Article Source: Carrie Bay, DSNews.com

To view a list of Forclosures in the Northwest Florida area click here.

While comedic (if slightly troubling), this rule is not that dissimilar from how home buyers approach the art and science of translating home sale listing-speak into what they think is a more accurate understanding of the property’s characteristics and condition.

Just as property staging creates a somewhat contrived scenario buyers can imagine their own families taking part in, property listing descriptions have evolved into a sort of verbal staging exercise where sellers and agents may create an artificial ‘scenario’ that belies the true state of the property.  Fortunately for savvy sellers, there’s another parallel between physical and verbal home staging: it’s all about the edit.

Removing well-intentioned but counterproductive verbal clutter from your listing is simple, but not easy. It starts with understanding what buyers take away from your words vs. what you truly meant or intended to convey.  Here, to start building that understanding, are four common areas of big-time disconnects between what sellers say and what buyers hear.

Sellers Say:  Comfortable, beloved, in the family for generations.

Buyers Hear:  Lots of room, but probably lots of broken stuff to fix, too. Things probably need to be jiggled or turned twice before you yank hard to get them open.  Think: scuff marks.

In all honesty, most buyers love to hear the story of how the sellers’ Great Granny and PaPa met right before the War, then built this house with their own hands and sweat when he came back, raising a family there and watching the town grow up around them.  But they generally like to hear those stories about spruced up, great looking, well-prepared homes they have already fallen in love with.  Leading with this material in a listing is like waving a red flag that warns of a serious probability that:

• The kitchen surfaces and appliances were last updated in the 60’s (for some reason, it’s rarely the cute 30’s and 40’s machines that survive – families tend to get stuck on the marigold and pea green formica stage);
• The furnace is so old it is powered by a team of chipmunks on a treadmill, and that the house has similarly ‘vintage’ electrical and plumbing systems (i.e., the same water pressure as a schoolyard drinking fountain); and that
• You (Seller) will blubber with tears on closing day (which might actually happen, and wouldn’t even be the worst thing in the world).

Part of the problem is that when people hear “multi-generational family home” they tend to think of Tara from Gone with the Wind, or Hearst Castle – or the house from the 80’s drama Dallas. So when the first “Grandma’s house” they see turns out to be a little old house that someone took great care of for 50 years, but hasn’t been upgraded in the same period of time, it bursts their whole bubble and sours their expectations about similar ‘family’ homes. 

My advice is to avoid leading with these sorts of descriptors unless the place is also recently remodeled, and to be super realistic about pricing this sort of property in accordance with any system upgrades that are overdue.

Sellers Say:  Seller Will Carry, Some Seller Financing for Qualified Buyer, Seller will carry a 10% note.

Buyers Hear:  I’ll offer them $1,000 and they’ll give me their house, with low monthly payments!

This one is all about wishful thinking; there’s just something about a buyer on a mission to buy a home – especially one who has trouble qualifying – that makes many of them willing to suspend disbelief and come up with scenarios that are simply too good (for them) and bad (for you) to be true.  Part of the problem is that for years, many people were brainwashed by those guys on the late night infomercials into thinking that buying a home is and should be just that simple (the other part of the problem is that for a number of years, it actually was – particularly during the subprime era).

Sellers who are willing to carry financing on a home generally need a hefty chunk of change up front in order to pay off the mortgage, make their next move or simply feel comfortable signing any interest in their home over to someone who can’t come up with the down payment or the other qualifications to get a ‘regular’ bank mortgage. 

But offering some seller financing – especially in a market where homes are having a tough time appraising or many buyers are fresh out of foreclosure – is such a strong selling point, that it is worth touting in the listing, if you’re willing to do it. Talk with your agent about how to skillfully state the specifics of your seller financing terms in a way that makes clear you’re not ready to give away the farm and finance it, too.

Sellers Say:  Sweet, charming, darling, cute, cozy.

Buyers Hear: Tiny, shoebox, claustrophobic. Or, overly accessorized, with doilies, lace drapes and flowered/striped wallpaper over pink carpet.

Let me be clear, today’s buyers like a classic look just as much – maybe more – than ever before. But when you use these saccharine marketing terms the visual you paint is much more frilly than today’s popular versions of a traditional aesthetic.  Unless your home actually does feature lots of pink carpet and flowered wallpaper (in which case engaging a stager might be in order), consider going with keywords that trigger images of a sleeker, classic look.  One quick and easy shortcut to spark the visuals you want is to reference the popular stores, home improvement shows and décor magazines that are most similar to your home’s design aesthetic, like Shabby Chic, Pottery Barn or Restoration Hardware.  (Caution: if you choose to go this route, please do make sure that you reference the right brands.  Failing to do so is a quick way to create a disaster. Imagine the scene of a Mad Men-styled, Design Within Reach-loving  buyer being shown a linen-ruffled Shabby Chic home. Quelle horreur!)

And if your home is small – buyers will know it by the square footage entry on the listing!  Calling it cozy is not going to make someone interested in a 400 square foot home if they weren’t in the market for something that small in the first place, so ditch the diminutives.

Sellers Say: Up-and-coming neighborhood, upside potential, amazing investment, sweat equity.

Buyers Hear: This place is falling apart! (And you might just have to dodge bullets on the way in and out, to boot.)

Buyers read this marketing lingo for a place or an area that is not being all that it can be, and two things occur:

(1)    All but the most intrepid fixer-seeker-outer starts doing what my doctor does and multiplying whatever you said by a factor of three, awfulizing the property or neighborhood “issues” on the assumption that whatever is said in the listing is likely a vast understatement.

(2)    They start mentally adding zeros to the budget they’ll need for repairs and visualizing how they’ll negotiate down from the list price before they ever step foot in the property.

The Catch-22 for sellers is that if you actually understate the repairs needed or try to price the place high to account for negotiating room, chances are good you’ll have some very angry visitors come to the property, who will feel misled that you didn’t flag the property problems ahead of time. Or you’ll get no showings or offers at all.

So, what’s a seller to do? Most online house hunting searches are so sophisticated that buyers are searching by street, neighborhood, zip code, radius around a focal point or other geographic boundaries. Since buyers already know where your home is, I’d stay away from neighborhood descriptors unless your neighborhood has already up and come.  Instead, just use the name of your area or district without describing it – and let buyers opt in or out based on their own research into the neighborhood. (And talk with your agent about even naming neighborhood names; this is a sensitive subject in some areas.)

If your home needs a basic cosmetic makeover, do it before you list the home.  Do whatever you can afford.  If your home needs more serious work than that, though, don’t try to make your fixer sound like a fabulous deal unless its location, price or other characteristics actually render it a truly fabulous deal!  Call it like it really is; consider even stating factually, in the listing, what systems need repair, after you mention the strong selling points.  Omitting them in the listing is not going to trick someone who doesn’t want to do the repairs into buying the place, and if your place is a home only a serious handyman or investor could love, then you might actually attract the right people to the property by pointing out that the windows are new but the roof and water heater might need replacing.

Also consider some or all of the following steps – consult with your agent about what makes sense in your situation:

• obtaining a home inspection report and repair bids in advance,
• pricing your home to account for those repair expenses the buyer will have to incur (with an extra discount for their trouble, if you’re serious about selling), and
• asking your agent to include in the agent-only online listing these documents and an explanation of the pricing strategy.

It might sound like a lot of trouble, but the extra work is one of very few options you have to differentiate your home from all the fixer short sales and foreclosures on the market.

Sellers: You may not have participated in writing your home’s description or been aware that it carries that much weight with buyers. If your home is on the market, make sure you visit its online listings around the web and review the listing description your agent has entered, if you haven’t before.

Agents and Buyers: What other home listing marketing lingo do you perceive as a signal of something negative about the property?

If you’re looking to work with a professional that has proven results and can sell your property or help you find your dream home, then call me to set up your Free No Obligation property review. 

Call or email me at 850.258.2602 or holliesellshomes@gmail.com.

Provided by:  Tara-Nicholle Nelson | Broker in San Francisco, CA

• Cost of New Home Construction
• How to Find a Builder
• How to Find a New Home
• How to Secure a New Home Construction Loan
• Questions to Ask When Buying a New Home
• The Advantages of Buying a New Home

It’s a little easier to ask a lot of the necessary questions when your’re buying an existing home, but when your heart is set on building your dream home, then there is a lot of things to consider. #1 consideration would be hiring a professional REALTOR to walk with you through the process.

Please give me a call  at 850.258.2602 for more details regarding your opportunity to own a home today!

Article provided by: HomesandLand

• Commercial property transaction volume is expected to increase by nearly 50 percent
• Issuance of commercial mortgage-backed securities (CMBS) is expected to more than double
• Institutional real estate assets and real estate investment trusts (REITs) are expected to provide returns ranging from 8.5% to 11% annually
• Vacancy rates are expected to drop in a range of between 1.2 and 3.7 percentage points for office, retail, and industrial properties and remain stable at low levels for apartments; while hotel occupancy rates will likely rise
• Rents are expected to increase for all property types, with 2012 increases ranging from 0.8 percent for retail up to 5.0 percent for apartments;
• Housing starts will nearly double by 2014, and home prices will begin to rise in 2013, with prices increasing by 3.5% in 2014

These strong projections are based on a promising outlook for the overall economy. The survey results show the real gross domestic product (GDP) is expected to rise steadily from 2.5 percent this year to 3 percent in 2013 to 3.2 percent by 2014; the nation’s unemployment rate is expected to fall to 8.0 percent in 2012, 7.5 percent in 2013, and 6.9 percent by 2014; and the number of jobs created is expected to rise from and expected 2 million in 2012 to 2.5 million in 2013 to 2.75 million in 2014. The improving economy, however, will likely lead to higher inflation and interest rates, which will raise the cost of borrowing for consumers and investors. For 2012, 2013 and 2014, inflation as measured by the Consumer Price Index (CPI) is expected to be 2.4 percent, 2.8 percent and 3.0 percent, respectively; and ten-year treasury rates will rise along with inflation, with a rate of 2.4 percent projected for 2012, 3.1 percent for 2013, and 3.8 percent for 2014.

The survey, conducted during late February and early March, is a consensus view and reflects the median forecast for 26 economic indicators, including property transaction volumes and issuance of commercial mortgage-backed securities; property investment returns, vacancy rates and rents for several property sectors; and housing starts and home prices. Comparisons are made on a year-by-year basis from 2009, when the nation was in the throes of recession, through 2014.

While the ULI Real Estate Consensus Forecast suggests that economic growth will be steady rather than sporadic, it must be viewed within the context of numerous risk factors such as the continuing impact of Europe’s debt crisis; the impact of the upcoming presidential election in the U.S. and major elections overseas; and the complexities of tighter financial regulations in the U.S. and abroad, said ULI Chief Executive Officer Patrick L. Phillips. “While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years. These results hold much promise for the real estate industry.”

The survey results suggest a marked increase in commercial real estate activity, with total transaction volume expected to rise from $250 billion in 2012 to $312 billion in 2014. CBMS issuance, a key source of financing for commercial real estate, is expected to jump from $40 billion in 2012 to $75 billion in 2014 (a considerable increase from the recession’s low point of $3 billion in 2009).

Total returns for equity REITs are expected to be 10 percent in 2012, 9 percent in 2013 and 8.5 percent in 2014, a sharp decrease from the surging REIT returns of 28 percent in both 2009 and 2010, but settling closer to the more sustainable level seen in 2011.Total returns for institutional-quality real estate assets, as measured by the National Council of Real Estate Investment Fiduciaries Property Index, have also been strong over the past two years and these returns are expected to remain healthy, providing returns of 11% in 2012, 9.5% in 2013, and 8.5% in 2014.

“Commercial real estate returns for institutional quality and REIT assets have performed very well in recent years, and this performance is expected to remain strong but trend lower over the next three years,” said Dean Schwanke, executive director of the ULI Center for Capital Markets and Real Estate.
A slight cooling trend in the apartment sector – the investors’ darling for the past two years – is seen in the survey results, with other property types projected to gain momentum over the next two years. By property type, total returns for institutional quality assets in 2012 are expected to be strongest for apartments, at 12.1 percent; followed by industrial, at 11.5 percent; office, at 10.8 percent; and retail, at 10 percent. By 2014, however, returns are expected to be strongest for office, at 10 percent, and industrial, at 10 percent; followed by apartments at 8.8 percent and retail at 8.5 percent.

• Apartments – The forecast predicts a modest increase in vacancy rates, from 5 percent this year to 5.1 percent in 2013 to 5.3 percent in 2014; and a decrease in rental growth rates, with rents expected to grow by 5 percent this year, and then moderate to a growth rate of 4.0 percent for 2013 and 3.8 percent by 2014. This may be indicative of supply catching up with demand.
• Office – The improved employment outlook is reflected in predictions for the office sector. Vacancy rates are expected to keep declining, reaching 15.4 percent in 2012, 14.4 percent in 2013, and 12.3 percent by the end of 2014. Office rental rates are expected to rise steadily, increasing 3.0 percent in 2012, 3.7 percent in 2013, and 4.3 percent in 2014.
• Retail – The strengthening economy is expected to boost the retail sector. Following years of rising vacancies, vacancy rates are expected to tighten to 13.0% by the end of 2012, 12.5% by 2013, and 12.0% by 2014. Retail rental rates are projected to rise by a slight 0.8% in 2012, and then increase more substantially in 2013 by 2 percent, and by 2.8 percent in 2014.
• Industrial/warehouse — Vacancy rates are expected to continue declining to 12.8 percent by the end of 2012, 12.1 percent in 2013, and 11.5 percent by the end of 2014. Warehouse rental rates are expected to show growing strength, with an increase of 1.9 percent anticipated for 2012, 3.0 percent in 2013, and 3.6 percent in 2014.

For the housing industry, the survey results suggest that 2012 could mark the beginning of a turnaround – albeit a slow one. Single-family housing starts, which have been near record lows over the past three years, are projected to reach 500,000 in 2012, 660,000 in 2013, and 800,000 in 2014. The national average home price is expected to stop declining this year, and then rise by 2 percent in 2013 and by 3.5 percent in 2014. The overhang of foreclosed properties in markets hit hardest by the housing collapse will continue to affect the housing recovery in those markets. However, in general, improved job prospects and strengthening consumer confidence will likely bring buyers back to the housing market.

WASHINGTON (March 28, 2012) — A new Urban Land Institute survey of 38 leading real estate economists and analysts from across the United States projects broad improvements for the nation’s economy, real estate capital markets, real estate fundamentals and the housing industry through 2014. The findings, released today, mark the start of a semi-annual survey of economists, the ULI Real Estate Consensus Forecast, being conducted by the ULI Center for Capital Markets and Real Estate. The survey results show reason for optimism throughout much of the real estate industry. Over the next three years:

• Commercial property transaction volume is expected to increase by nearly 50 percent
• Issuance of commercial mortgage-backed securities (CMBS) is expected to more than double
• Institutional real estate assets and real estate investment trusts (REITs) are expected to provide returns ranging from 8.5% to 11% annually
• Vacancy rates are expected to drop in a range of between 1.2 and 3.7 percentage points for office, retail, and industrial properties and remain stable at low levels for apartments; while hotel occupancy rates will likely rise
• Rents are expected to increase for all property types, with 2012 increases ranging from 0.8 percent for retail up to 5.0 percent for apartments;
• Housing starts will nearly double by 2014, and home prices will begin to rise in 2013, with prices increasing by 3.5% in 2014

These strong projections are based on a promising outlook for the overall economy. The survey results show the real gross domestic product (GDP) is expected to rise steadily from 2.5 percent this year to 3 percent in 2013 to 3.2 percent by 2014; the nation’s unemployment rate is expected to fall to 8.0 percent in 2012, 7.5 percent in 2013, and 6.9 percent by 2014; and the number of jobs created is expected to rise from and expected 2 million in 2012 to 2.5 million in 2013 to 2.75 million in 2014. The improving economy, however, will likely lead to higher inflation and interest rates, which will raise the cost of borrowing for consumers and investors. For 2012, 2013 and 2014, inflation as measured by the Consumer Price Index (CPI) is expected to be 2.4 percent, 2.8 percent and 3.0 percent, respectively; and ten-year treasury rates will rise along with inflation, with a rate of 2.4 percent projected for 2012, 3.1 percent for 2013, and 3.8 percent for 2014.

The survey, conducted during late February and early March, is a consensus view and reflects the median forecast for 26 economic indicators, including property transaction volumes and issuance of commercial mortgage-backed securities; property investment returns, vacancy rates and rents for several property sectors; and housing starts and home prices. Comparisons are made on a year-by-year basis from 2009, when the nation was in the throes of recession, through 2014.

While the ULI Real Estate Consensus Forecast suggests that economic growth will be steady rather than sporadic, it must be viewed within the context of numerous risk factors such as the continuing impact of Europe’s debt crisis; the impact of the upcoming presidential election in the U.S. and major elections overseas; and the complexities of tighter financial regulations in the U.S. and abroad, said ULI Chief Executive Officer Patrick L. Phillips. “While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years. These results hold much promise for the real estate industry.”

The survey results suggest a marked increase in commercial real estate activity, with total transaction volume expected to rise from $250 billion in 2012 to $312 billion in 2014. CBMS issuance, a key source of financing for commercial real estate, is expected to jump from $40 billion in 2012 to $75 billion in 2014 (a considerable increase from the recession’s low point of $3 billion in 2009).

Total returns for equity REITs are expected to be 10 percent in 2012, 9 percent in 2013 and 8.5 percent in 2014, a sharp decrease from the surging REIT returns of 28 percent in both 2009 and 2010, but settling closer to the more sustainable level seen in 2011.Total returns for institutional-quality real estate assets, as measured by the National Council of Real Estate Investment Fiduciaries Property Index, have also been strong over the past two years and these returns are expected to remain healthy, providing returns of 11% in 2012, 9.5% in 2013, and 8.5% in 2014.

“Commercial real estate returns for institutional quality and REIT assets have performed very well in recent years, and this performance is expected to remain strong but trend lower over the next three years,” said Dean Schwanke, executive director of the ULI Center for Capital Markets and Real Estate.
A slight cooling trend in the apartment sector – the investors’ darling for the past two years – is seen in the survey results, with other property types projected to gain momentum over the next two years. By property type, total returns for institutional quality assets in 2012 are expected to be strongest for apartments, at 12.1 percent; followed by industrial, at 11.5 percent; office, at 10.8 percent; and retail, at 10 percent. By 2014, however, returns are expected to be strongest for office, at 10 percent, and industrial, at 10 percent; followed by apartments at 8.8 percent and retail at 8.5 percent.

• Apartments – The forecast predicts a modest increase in vacancy rates, from 5 percent this year to 5.1 percent in 2013 to 5.3 percent in 2014; and a decrease in rental growth rates, with rents expected to grow by 5 percent this year, and then moderate to a growth rate of 4.0 percent for 2013 and 3.8 percent by 2014. This may be indicative of supply catching up with demand.
• Office – The improved employment outlook is reflected in predictions for the office sector. Vacancy rates are expected to keep declining, reaching 15.4 percent in 2012, 14.4 percent in 2013, and 12.3 percent by the end of 2014. Office rental rates are expected to rise steadily, increasing 3.0 percent in 2012, 3.7 percent in 2013, and 4.3 percent in 2014.
• Retail – The strengthening economy is expected to boost the retail sector. Following years of rising vacancies, vacancy rates are expected to tighten to 13.0% by the end of 2012, 12.5% by 2013, and 12.0% by 2014. Retail rental rates are projected to rise by a slight 0.8% in 2012, and then increase more substantially in 2013 by 2 percent, and by 2.8 percent in 2014.
• Industrial/warehouse — Vacancy rates are expected to continue declining to 12.8 percent by the end of 2012, 12.1 percent in 2013, and 11.5 percent by the end of 2014. Warehouse rental rates are expected to show growing strength, with an increase of 1.9 percent anticipated for 2012, 3.0 percent in 2013, and 3.6 percent in 2014.

For the housing industry, the survey results suggest that 2012 could mark the beginning of a turnaround – albeit a slow one. Single-family housing starts, which have been near record lows over the past three years, are projected to reach 500,000 in 2012, 660,000 in 2013, and 800,000 in 2014. The national average home price is expected to stop declining this year, and then rise by 2 percent in 2013 and by 3.5 percent in 2014. The overhang of foreclosed properties in markets hit hardest by the housing collapse will continue to affect the housing recovery in those markets. However, in general, improved job prospects and strengthening consumer confidence will likely bring buyers back to the housing market.

Provided by New Urban Land Institute

Truth:  Pricing too high can be as bad as pricing too low. If you list too high, you’ll
miss out on buyers looking in the price range where your home should be.  Offers may not even come in, because buyers who are interested in your home are scared off by the price and won’t even take the time to look at it.  By the time you correct the price and list your home at its
fair market value, you will have lost that window of opportunity when your home draws the most attention from the public and real estate agents; i.e. the first 30 days that it is on the market.
A well-trained real estate agent who looks out for your best interests will consult with you on your home’s fair market value and different pricing strategies for the current market.

Myth #2:  Minor repairs can wait until later. There are more important things to be done.

Truth:  Minor repairs make your house more marketable, allowing you to maximize your return (or minimize loss) on the sale. Most buyers are looking for
homes that are ready for them to move into. If your home happens to attract a buyer who is willing to make repairs, he/she will begin asking for repair allowances that come out of your asking price.  The amount of an allowance that you have to offer a buyer is usually more than what it would cost for you to make the repair (or hire someone to make the repair).  Remember, buyers are comparing your home to other homes that are currently on the market. Your home should be inviting so that everyone who looks at it can see themselves living there.

Myth #3:  Once a potential buyer sees the inside of your home, curb appeal won’t matter.

Truth:  Buyers probably won’t make it to the inside of the home if the outside of your home does not appeal to them. Buyers and their agents often do drive-bys before deciding whether a home is worth their time to look inside.  Your home’s exterior must make a
good first impression so that buyers are compelled to stop and come inside.  All it takes is keeping the lawn mowed, shrubs and trees trimmed, gardens weeded and edged, and clutter put
away.

Myth #4:  Your home must be every home buyer’s dream home.

Truth:  If you get carried away with repairs and replacements to your home, you may end up over-improving the house. There is a point where improving your home doesn’t pay off.  The key is to consider what competing properties feature and look like.  A highly-motivated real estate agent will consult with you on what competing properties have to offer – he/she can even show you competing properties so that you can make sound home improvement
decisions.

Myth #5:  You are better off selling your home on your own and saving money on the commission you would have paid to a real estate agent.

Truth:  Statistically, many sellers who attempt to sell their homes on their own cannot consummate the sale without the service of a real estate agent. Homeowners who succeed in selling their home by themselves usually net less than if they had a real estate agent working for them.

The National Association of REALTORS_â surveys consumers every year, including homeowners who succeeded in selling their home without a real estate agent.  Over 70% of these homeowners say that they would never do it again.

Myth #6:  When you receive an offer, you should make the buyer wait. This gives you a better negotiating position.

Truth:  You should reply immediately to an offer! When a buyer makes an offer,
that buyer is, at that moment in time, ready to buy your home.  Moods can change, and you don’t want to lose the sale because you have stalled in replying.

Charlie Brown