Enhancing A Home's Appeal A full-service professional agent can offer tips and advice on preparing your home for sale. Since each home is unique, a boiler plate list of recommendations is nice to have and easy to put on-line, but it can hardly replace an agent's first hand look at your home.A professional full service agent has experience in your local market regarding which enhancements or improvements will provide an acceptable return for an investment in a particular area. An agent who specializes in a particular area will be able to determine what the profile is of the typical buyer for a home, and act accordingly to offer staging advice, paint schemes and landscape improvements which maximize your resale potential. An agent who specializes in an area will no doubt have a long list ... 10/02/2007

The success of a full service professional real estate agent relies on repeat business and referrals from satisfied customers. In order to achieve this, agents are constantly enhancing their services. Caring about the client and their needs are of the utmost importance.Being a local agent allows for a more hands-on approach to an industry that replies heavily on communication and advice. Looking after a listing means being physically to show it to a prospective client with little notice. Once a buyer drives by your home, if they cannot get in they may never come back-especially if they have mentally moved on, or found another property. Being a hand's-on agent allows them to see your home frequently and make suggestions as to changes in the marketing, appearance or upkeep of a listing. N... 10/02/2007

Hosting a special tour for brokers should be part of every agent's marketing plan. That is of course if your broker knows why they are there and if of course it's a traditional part for the particular market. Sure it's fun to meet colleagues and chat about your weekend, but there are more important things to accomplish-that is if your broker is physically available to hold a broker tour.These are some of the things you can accomplish:Serve a catered lunch tour. Giving away food for free makes little sense if you own a restaurant so why would it makes sense for a broker to promote food at a broker tour? The answer is of course you are not promoting food, you're prompting the home. Brokers can never see all of the homes on a given tour sheet in the Bay Area so the must choose ones for whi... 10/02/2007

Everyone knows open houses don't sell homes, right? Isn't that what virtual brokers want you to believe? In fact they need you to believe that because they won't hold open houses; yet as matter of course they send their buyers to view open houses since they also don't show property. How can they accurately assess the success of open houses without doing them? They rely on a statistic they often quote that less than 1% of all sales resulted from a buyer seeing the home at an open house-perhaps. If a buyer finds a home on-line, but decides to buy it after seeing it in person at the open house, then was the open house the cause of the sale? No, according to the way the information is collected. Virtual agencies also state emphatically that open houses are solely for the benefit of the agen... 10/02/2007

As the real estate market enters a new phase where homes will take longer to sell and sell for less, sellers will need to have an edge over their competition. Absent just having the lowest price in the neighborhood what else can a seller do?While pricing your home correctly is fundamental to a successful sale, there are many other factors which play into selling your home.Getting Maximum Exposure for Your HomeYour home's exposure to the market is critical. The more buyers who know about your home the better the chances are of finding the right one. Buyers have many avenues today for finding out about homes for sale. No longer are listings filtered only though real estate agents. Buyers have access to listing data and for-sale-by-owners on the internet; how that information is presented ... 10/02/2007

Examining the Real Estate Model-Part 2 In a strong seller's market it's much easier to sell a home. In recent years many Bay Area homes have been selling over the asking price in a week or two and with multiple offers. With record high median prices, it's not surprising that many would flock to the industry to get a piece of the action. Unfortunately, the market has changed and many of the start-up virtual companies may find it difficult to attract clientele. While the temptation to hire a bargain basement company may be attractive given a decrease in available equity, that's just the opposite of what a seller should be considering. Putting your best foot forward in a declining market is critical--read "Getting Maximum Exposure for your home" for more detailed discussion.Full service ag... 10/02/2007

One of the big complaints from the buyers of on-line virtual agents they represent is they can't get in to see a home since their agent does not show property. A virtual agent's buyer's only recourse is to go to open houses or call the listing agent directly to show the home.Many listing agents are unwilling to work with buyers who already have agent representation, and of course they are not supposed to. They can however make a home available to a buyer working with a virtual agent if they so choose. The virtual companies are quick to blame listing agents who are disinclined to show their listing to such a buyer by stating they are doing a disservice to their seller. Of course you'll never catch them showing one of their listings-they don't offer that service. Instead, they opt to make... 09/29/2007

The short answer is of course yes. Different sellers have different needs and abilities and some may choose a full service model and others limited or no service at all-the choices have been there all along. Yet the arrival of virtual Internet brokers has spawned a new ideology of it's either "us or them".The very survival of limited service or virtual Internet brokers relies on two things: The first is they are able to convince everyone that paying a 6% compensation is the only alternative to their "discount" model, and the second is that they must convince their prospects that the minimum service they provide is all that is needed to sell a home; and everything else which a full service agent does is a waste of their time and your money.These assertions that they need you to believe a... 09/29/2007

With the introduction of another new virtual real state company (see Inman News RealUmbrella seeks to shut agents out of transactions), it's appropriate to remind people that the choices they make in who to hire and what type of service they need (or can afford) has consequences. The real estate industry has been changing for years and thanks to the Internet it is now more transparent and will become more respected as a result. Each segment of the market--whether it's a professional full service agent or a virtual company has its place in the market and will contribute to the industry. Virtual companies are not a threat to the more established full service professional agent-they compliment the availability of alternative resources for selling or buying a home and provide employment for... 09/27/2007

Many of the real estate stories you may be hearing are dealing with national or statewide issues and do not reflect our local market. That doesn't mean that the overall housing picture doesn't affect our market-it does. The perception of a declining market is all it takes to create one. As optimistic as homeowners are about the value of their homes, we believe that somewhere in the back of their minds there's a nagging uncertainty of future valuation and a realization that at some point the run up in real estate values will come to an end. And of course it will. The question remains is this it? Are we there now?In the Bay Area, conditions are not the same as many parts of the country where cities are reporting a rapid decline in home values. These are some of the factors which may enabl... 09/24/2007

Inventory levels are rising to the highest level in at least the last four years as anxious buyers put off purchasing their first home. Clearly this is an indication of a market slow down or pull back. How long it will last and how it affects the median price is yet to be seen.    Drew & Christine Morgan Morganhomes.comVisit our Blog at BeautifulMountainBlog.orgDisclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation. 09/23/2007

This graph which show3s the sales in San Mateo County through August of 1997 exemplifies the waning sales since last year. In fact, sales are almost down 50% over 2004. Many buyers are waiting for better interest rates (although they currently are near historical lows and others simply cannot afford a home as only 10% of the Bay Area first time buyers can afford the median priced home.Drew & Christine Morgan Morganhomes.comVisit our Blog at BeautifulMountainBlog.orgDisclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation.    09/23/2007

Clearly the report of waning sales are correct. This graph illustrates closed sales for Belmont for the last four years. Note that sales are down nearly 40% over prior years. This is indicative of trepidation on the part of buyers worried about the future of home values and mortgage rates. It also is a simple factor that after years of price ru-ups now only 10% of first time buyers can afford the median Bay Area home.Drew & Christine Morgan Morganhomes.comVisit our Blog at BeautifulMountainBlog.orgDisclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation.    09/23/2007

Here we see Belmont's inventory levels while higher than recent times, still within acceptable levels indicating a modest economy and housing future. Inventory or the number of homes for sale directly impacts selling prices if demands is stable. Inventory can grow simply because buyers are not buying homes or more homes are coming on the market. In this case, it's a case of fewer buyers (less sales) since the number of new listings is within acceptable and customary range.Drew & Christine Morgan Morganhomes.comVisit our Blog at BeautifulMountain Blog.orgDisclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation.  09/23/2007

This graph shows sales for the last the last four years for Belmont, California. It's interesting to note that even with higher inventory levels, the median price is till holding along the trend-line where it would be calculated to be based upon past trends, The third quarter ending period in September should add more valuable data to help understand if in deed the market forces are beginning to impact not just sales and inventory, put selling priced as well.  You can read more abou these grahs for Belnt and other openineuals cities on our web page at morganhomes.comAlso, visit our Belmont Blog at BeautifulMountainBlog.org 09/23/2007

There's just got to be a reason to why people choose to pay more to live in one city over another..help me figure it out! (Tongue in cheek folks...)We live in a little town called Belmont. We bought a home there because back then no one else was. That meant it was a lot less expensive than other towns. San Carlos is a nearby town that a lot of people like to live in; though the cost of owning a home is a lot more. And affordability seems disproportionate to their differences. People always said they wanted to live there for the schools; though recent school data suggests that either school do not have as much impact on where people live as years ago or buyers aren't reading about it. Is that because literacy in America is down? The schools in San Carlos have always been known for their ... 09/23/2007

Are you prepared for a changing market?It's no secret that home sales are down and inventories increasing. What does this mean for sellers? For the first time in years selling their home will take longer and pricing it will be critical; sellers will also be more discerning on who they hire.Experienced agents-ones who have experienced a real estate cycle in their career -will certainly have the upper hand when it comes to dealing with a changing market. Some newer agents who entered the market when selling a home was as easy as inputting a listing in their MLS system may find the challenge frustrating and overwhelming. Smart sellers will interview more agents and ask better questions than before-their success relies on it. Hiring your best friend's brother who just got his license may no... 09/23/2007

Most Sunday's we're busy working in real estate whether it's holding an open house or showing property. This Sunday we had the day off and we were excited to be able to get over to Belmont's Farmer's Market.This week they were promoting the last grapes of the season and there were more varietals than I had ever seen in one place. There are many local (Half Moon Bay) growers as well as ones from the San Joaquin valley and everything looked fresh and wholesome.There's also organic produce, fresh bakes berry pies, breads and a fantastic cinnamon loaf that reminds me of one my mother made when I was young (I've seen it at Piazza's too if you can't hold out for a week. It's held every Sunday from 9:00-1:00 at the CalTrain Parking Lot at El Camino Real & O'Neill Street. Grab a cup of coffee a... 09/23/2007

Belmont's Chamber of Commerce is sponsoring a meet the candidates night Thursday, October 4th at the library from 7:00-9:00. This is a great opportunity to meet the new candidates before the November 6th election. There are some excellent candidates challenging the sitting council and you owe it to yourself to hear what they have to say.This should be an exciting race! In some years council vacancies went unchallenged so it's refreshing to see some new faces and ideas. COME - HEAR - ASK The candidates will be at the Belmont Library October 4th 7PM-9PM. The Belmont Chamber is hosting this opportunity for you. Come meet the candidates Hear what the candidates are about and what they want for Belmont Ask the candidates what their view is This is a wonderful opportunity for you to get your ... 09/23/2007

As flawed as Zillow's "Zestimator" and other sites are at calculating home values, I don't believe they are trying to be the "End-All" and replace the need for Real Estate Agents. And though this new company "Cyberhomes" may use their own data, that even makes it less credible, not more.These companies are merely creating a portal to get advertising money and provide what they feel is a valuable tool to attract visitors to their site and reap advertising money.Personally, I embrace these companies and use them to promote my listing as well as communicate with buyers, and sellers. They are not the "Evil Empire" from the dark side influencing mindless people and raping your business. They are, in my estimation, another Internet company availing themselves of the Internet market.When a sel... 09/21/2007