destin buyers

The Low-Ball Offer

Aug 1st, 2011
by edsmith.
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What to do as a seller when you receive a low-ball offer? A timeless question. More often than not, the low-ball offer never even gets to first base.  Many sellers will tend to disregard the low offers and do not counter. Rather, they choose to outright reject.

 

In these cases, sellers are more rejecting the buyer as opposed to the offer. They are sending an emotion-motivated message to the buyer that says “You insulted me, I do not need your money”.  How many times have we seen such a rejected buyer go elsewhere and then pay even more? These are often opportunities lost.

 

Over the years, we have received many a low-ball offer. One thing that we have learned is that a buyer’s first offer is seldom his last. For that reason alone, sellers should almost ALWAYS be encouraged to counter. Keep the dialogue open. Successful real estate agents are the ones who have learned to build bridges, not walls. We have seen very hopeless looking initial offers that ultimately, successfully closed. You can make lemonade out of lemons if you can simply find a way to keep emotion out of the equation. In doing so, your odds for a successful conclusion have improved dramatically!

 

For more on general real estate topics, including short sales and REOs, visit Ed and Terri Smith at www.DestinFloridaRealEstate.com  

How to improve your credit score?

Jul 22nd, 2011
by edsmith.
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If you are turned down for a loan, what to do? A provision of the Dodd-Frank financial reform law that went into effect last week mandates that should you be denied a loan, the lender must provide you with an “adverse action” notice that will include your credit score as well as explain why you were turned down.

 

Many factors can affect your credit score such as paying your bills on time, how much debt you have, your available credit limits, length of credit history and applying for new credit. The reason given for your denial will help assist you in improving your score. For more information on factors that impact your credit score,  you can visit: http://www.federalreserve.gov/consumerinfo/fivetips_creditscore.htm

 

For information on general real estate topics, short sales and bank foreclosures, please visit Ed and Terri Smith at http://www.FloridaBrokers.com

or email us at smith@realtor.com

Housing Affordability Hits New High

Jun 15th, 2011
by edsmith.
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According to a report issued by the National Association of Homebuilders and Wells Fargo, housing affordability hit a new record high this year, surpassing the previous high set in fourth-quarter 2010. In fact, it is the highest level recorded in the more than 20 years the index has been in existence.

In a nutshell, this means that nearly 75 percent of the homes sold in the first quarter of 2011 were considered affordable, based on the national median family income of $64,400. To put the significance in perspective, the index had never even hit 70 percent before 2009. 65 percent was rare.