Thursday, July 31, 2008
Updates & Outlook Past Articles
Each Saturday in the Real Estate section of the Democrat and Chronicle, Nothnagle's CEO has a featured article on a timely news topic related to the industry. If you miss one of our articles, of if you read one previously that you meant to save but didn't, you can find an archive on Nothnagle.com under Company/Page 3 Articles.
Sellers Get More with Nothnagle
A recent Wall Street Journal article, “How to Sell a House, When You Have to Sell it Now,” (David Crook, July 14, 2008) contained some positive news about Rochester, specifically mentioning us as one of the markets where prices “have held relatively firm or risen modestly through the Big Bust” that has occurred in other parts of the country.
The article also provided tips to prospective sellers on how to improve their chances of a successful sale, recommending to “Hire a Top Real Estate Agent” as a key point. If you’re looking to sell your home, then look no further than Nothnagle Realtors for a “top real estate agent.”
Click here to continue reading this article from our "Updates and Outlook" column in the Saturday Democrat and Chronicle's Real Estate section.
The article also provided tips to prospective sellers on how to improve their chances of a successful sale, recommending to “Hire a Top Real Estate Agent” as a key point. If you’re looking to sell your home, then look no further than Nothnagle Realtors for a “top real estate agent.”
Click here to continue reading this article from our "Updates and Outlook" column in the Saturday Democrat and Chronicle's Real Estate section.
Monday, July 28, 2008
Permits and Pool Alarms
If you are planning on installing a deck, pool or addition, you will want to check with your local town/municipality to find out what permits may be required. While inspections and the application process may vary from town to town, I am not aware of any town that does not require a permit. When you go to sell your property, you could be delayed if you do not have the necessary permits. If you think you may be selling in the near future and you do not have permits, you may want to begin looking into obtaining those permits prior to putting your house on the market. Also, if you have installed a pool after December 2006, NYS law now requires you to have a pool alarm installed. Many towns now have information available on their websites on what is required and how to apply for a permit.
Thursday, July 24, 2008
More Advertising Means More Sales
The key to a successful sale is getting the property exposed to the greatest number of potential buyers possible. Some agents think that by holding the property back from the market in an effort to create a "frenzy" once it becomes available may not be acting in the best interest of their client. While sometimes this may work in a hot neighborhood, it benefits the seller to get mass exposure in an effort to get as close to -- or even more than -- asking price.
MLS rules require that a listing be entered into the listing service within 24 hours, otherwise it's known as a "pocket listing." The reason this practice is prohibited is to discourage agents from holding the listing back from the market while they look for their own buyer in order to financially benefit from both sides of the transaction.
If you interview an agent who tells you their plan is to NOT advertise or put your listing into the MLS.... proceed with caution. Nothnagle knows advertising works, that's why we as a company invest in many forms of advertising -- print, TV, the Internet. More advertising equals more sales and our numbers reflect this trend. We're approaching 58% market participation -- the highest ever. Our success in today's market is all tied to our extensive advertising program and our highly trained and professional agents.
MLS rules require that a listing be entered into the listing service within 24 hours, otherwise it's known as a "pocket listing." The reason this practice is prohibited is to discourage agents from holding the listing back from the market while they look for their own buyer in order to financially benefit from both sides of the transaction.
If you interview an agent who tells you their plan is to NOT advertise or put your listing into the MLS.... proceed with caution. Nothnagle knows advertising works, that's why we as a company invest in many forms of advertising -- print, TV, the Internet. More advertising equals more sales and our numbers reflect this trend. We're approaching 58% market participation -- the highest ever. Our success in today's market is all tied to our extensive advertising program and our highly trained and professional agents.
Monday, July 21, 2008
Rochester Mentioned in WSJ
A July 14th article in the Wall Street Journal cites Rochester as one of the markets where prices "have held relatively firm or risen modestly through the Big Burst" that has occured in other parts of the country.
The article also provides useful tips to bring about a successful sale -- tips that can be utilized in any market. One of the suggestions advises against trying to time the market, stating "You won't have any better luck than a stock trader who's always holding out for the market highs or lows."
My brother and sister-in-law benefited from the "boom" in San Diego, having purchased a condo that sold sight-unseen with multiple offers submitted for more than double their purchase price. Problem now, they're in Sacramento where the market has completely bottomed out and their house is worth much less than what they purchased it for. Fortunately, they plan to stay put for a while so, as with the stock market, it's not a "loss" until you actually sell.
Bottom line, if you're looking to sell or buy, contrary to what the media may report, it's still a good market. The key to a successful sale in any market, as mentioned in the article, is to hire a top real estate agent and "Promote, promote, promote." Simply putting a house in the MLS doesn't often lead to a sale -- it takes creative marketing and getting your house in front of as many prospective buyers as possible.
The article also provides useful tips to bring about a successful sale -- tips that can be utilized in any market. One of the suggestions advises against trying to time the market, stating "You won't have any better luck than a stock trader who's always holding out for the market highs or lows."
My brother and sister-in-law benefited from the "boom" in San Diego, having purchased a condo that sold sight-unseen with multiple offers submitted for more than double their purchase price. Problem now, they're in Sacramento where the market has completely bottomed out and their house is worth much less than what they purchased it for. Fortunately, they plan to stay put for a while so, as with the stock market, it's not a "loss" until you actually sell.
Bottom line, if you're looking to sell or buy, contrary to what the media may report, it's still a good market. The key to a successful sale in any market, as mentioned in the article, is to hire a top real estate agent and "Promote, promote, promote." Simply putting a house in the MLS doesn't often lead to a sale -- it takes creative marketing and getting your house in front of as many prospective buyers as possible.
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