Real Estate Websites Marketing
By now you’re familiar with the nightmare. The popular advice was “Invest in real estate” for many years and lenders were making it all too easy by offering adjustable rate loans to qualify for higher loan amounts so that even the poorest families could afford to buy big. Buyers thought they had refinancing options later as the value of their homes increased, but the increase never came and soon they couldn’t afford the payments any longer.
As a result, real estate websites marketing seems to have almost tripled in the last few years and houses are much more difficult to get rid of. In addition, there has been a downward turn in the stock market and out of the eleven sharp housing declines since WWII, eight have been followed by economic recession.
Foreclosures have increased from 323,101 in the first quarter of 2006 to 437,498 in the first quarter of 2007. The average foreclosure auction price is $164,500, 26% below its market value. Sadly, these last-ditch efforts to avoid strangling debt will wind up on these people’s credit history for ten years, just like filing for bankruptcy.
Real Estate Search Engine Optimization
Of course this housing bubble is terrible news for realtors as well, who spend exorbitant costs on real estate search engine optimization and listing costs while making their income solely off commission. Generally their listings are through the roof, while interested buyers remain low. Housing prices are being slashed and their commission checks aren’t what they used to be, which leaves many in the business wondering if it’s even worth it anymore – especially in over-inflated markets like California.
Fortune Magazine Recommends Hiring a Real Estate Marketing Company
So what is a poor investor to do? Fortune Magazine recommends taking one of six approaches to combat your housing woes. The first one is to simply lower your expectations. While your first impulse may be to sell a $324,000 house for $310,000, you may wind up actually selling it for only $299,000 – which is still more than what you paid for it years back. Hopefully your house isn’t the only investment you’ve made for your retirement and with the help of a professional real estate marketing company you’ll be able to bounce back like a spring chicken.
A second strategy is to drive a hard bargain by throwing in some extras to get the house sold. Does the basement need new paint or does the living room need a new carpet? How about tiles for the roof? While it may seem like a waste to put money into a place you’re leaving, it can make the difference between a sale and a sitting duck.
A third strategy is to consider selling your home for a lower price and renting. Down-sizing might not seem like the “American Dream,” but it’s been a blessing in disguise and created a nice retirement for many couples. You’ll be able to bank thousands (or as much as a million on that big-money real estate) and can live comfortably for a fraction of the cost, enjoying more expendable income for vacations and entertainment.
A fourth option is to try to refinance and switch your adjustable rate mortgage to a fixed rate the first chance you get. While you may wind up paying a seemingly small fortune in fees and penalties, it will probably save you money in the long run if selling isn’t an option.
A fifth idea is to shop around for loans. The amount of money banks are giving out in mortgage loans has decreased almost 50% in the last year. It’s not that they’re unwilling – but rather, people have backed off the market. Therefore, anyone looking for a loan will have top pick of the negotiations. While one lender may be offering you 8%, shop around for that 6.9.
Lastly, take it easy on your home renovations. While doing little fix-ups to sell is necessary, a full scale change of scenery may not be. Spending keeps the economy in motion, but be realistic with yourself about your family’s budget limitations. After all, it was partly this over-stretching that landed many buyers in this predicament in the first place.
