Are Contingent Offers Bad?
I was just reading some comments about how contingent offers on a home can be bad and put the seller at a disadvantage. Contingent offers typically mean a buyer can make an offer on a home, but must sell their home first. The writer mentioned the normal reasons why... your home won't be shown as much; you will typically have to wait for their buyer's buyer to find a buyer; You might be willing to take a little less for your home so you don't have to wait...and several others.
I have been selling real estate for over 15 years, helping over 120 families a year buy and sell real estate. Let me share with you my thoughts about automatically assuming a contingent offer is a bad deal...because it is not. If you have the right, experienced agent working on your behalf, it could be a VERY prosperous deal for you.
Here is my response:
I totally disagree with sellers being at a disadvantage with contingencies...and I will tell you the other side.
1) in many larger priced home, a buyer is going to have a home to sell to get thier equity. If you have a home that has been on the market, and a buyer can only write a contingent offer, you might be in a better position to get them under contract NOW and get the terms locked up. If you make them wait till their home sells, they may find a home they like better, because they will continue to house shop if you don't take their contingent offer.
2) if their home is priced to sell, they could be a more valid buyer than the other one you have (no one). As a listing agent we will require the buyer agent to submit a CMA of the buyers home to evaluate if they are indeed priced to sell. If they are, this could be a very lucrative offer...because you can ask a buyer to pay more for a home and counter offer bigger prices or terms when the seller is willing to take a contingent offer. Buyer's typically pay more for the home to 'inconvenience' the seller a little.
3) Contingent status typically is a default with Active homes on MLS. The only buyers who don't look at contingent offers, are other buyers who have homes to sell and would be contingent as well. The cash buyers and non-contingent buyers still look at contingent homes because typically those offers can be bumped out. Which in turn helps your seller get a better price as well, because they typically won't accept much less than the higher priced contingent offer they negotiated.
4) Very seldom is there a chain reaction. Obviously the higher priced the 1st home is will determine if the others will have a home to sell.
5) It is good advice to see if you can get the buyer to buy non-contingent, but if it means they will have to walk, you should at least consider it. This of course does not apply when a market is extremely strong. But if you are working in conditions that are typical accross the country, I think you might be giving the consumers, and agents some not so good advice.
I have been explaining the benefits of contingent offers to my sellers for over 15 years, and I don't feel like any offer we have ever taken put them in a worse postition than not taking the offer originally.
When you are representing a buyer, I can explain how accepting our contingent offer is great if they don't want to take a contingent offer. Unless they enjoy cleaning and rushing out of their home 5-10 times they can relax if they take our contingent offer. 6-7 of the 10 have homes to sell. If you accept our contingent offer, all the contingent buyers (whose offers you really don't want to take anyway) will quit coming to kick you out of your house for 1-2 hours ever day.
So, if you are trying to sell your home in today's market, you might want to contact The Korn Team to evaluate your particular situation. If you are wanting to buy a home in this market and you have a home to sell, and you really need to get your equity out of your current home to buy... then you must absolutely contact our team of specialists. We are watching WAY TOO many homebuyers putting themselves in HUGE financial stress by buying homes non-contingent when they really should sell thier home first. Let us show you how to get your offers accepted and how the seller will benefit by accepting your offer.
Brad Korn
The Korn Team
Serving Greater Kansas City (and Lincoln, NE)
http://www.kornteam.com/
http://www.weselllincoln.com/
816-224-KORN (5676)
Your Real Estate Blog site for Greater Kansas City Area including Blue Springs, Lee's Summit, Independence, Southland, Northland and Kansas area properties.
Monday, October 01, 2007
Tuesday, September 25, 2007
Is Feedback from Showings on my Home Important?
We notify our seller's immediately IF an agent sends feedback. Here is our updated information during a market review with one of our seller's:
"Showing traffic has been very good considering the market conditions. Very consistent.
You should be getting emails with the feedback, etc.
The feedback seems to be a little mixed as to whether or not you are overpriced. Half say it high, half say it is good. The other consistent feedback seems to be that there is still work to be done. I don't know what they may be focusing on other than just the picky little things (which is a common thing in this market). The buyers want over the top immaculate."
Typically only 2 out of 10 agents in the KC market will actually provide feedback. It has been my experience the best feedback is to evaluate what homes received contracts after our seller's home was on the market. Agents telling you to change colors of rooms is not necessarily the best feedback. Our team will help you decifer that feedback to see if it is a valid comment, or just them giving their opinion.
Brad Korn
The Korn Team
Serving Greater KC
http://www.kornteam.com/
816-224-KORN (5676)
We notify our seller's immediately IF an agent sends feedback. Here is our updated information during a market review with one of our seller's:
"Showing traffic has been very good considering the market conditions. Very consistent.
You should be getting emails with the feedback, etc.
The feedback seems to be a little mixed as to whether or not you are overpriced. Half say it high, half say it is good. The other consistent feedback seems to be that there is still work to be done. I don't know what they may be focusing on other than just the picky little things (which is a common thing in this market). The buyers want over the top immaculate."
Typically only 2 out of 10 agents in the KC market will actually provide feedback. It has been my experience the best feedback is to evaluate what homes received contracts after our seller's home was on the market. Agents telling you to change colors of rooms is not necessarily the best feedback. Our team will help you decifer that feedback to see if it is a valid comment, or just them giving their opinion.
Brad Korn
The Korn Team
Serving Greater KC
http://www.kornteam.com/
816-224-KORN (5676)
Wednesday, September 05, 2007
Is the Real Estate Market in Greater Kansas City Really Bad?
The Korn Team doesn't think so, in fact, with (supposedly) the worst market ever, we personally set a new team record over the past 15 years. In June, The Korn Team sold 23 homes. That was an all time high since we started our team.
In fact, just to show you what the market conditions are like for our team: In 2005 ( the third best year of Real Estate KC had ever seen, we sold 114 homes). In 2006 (the worst market Missouri had ever seen) we sold just under 120 homes. So far this year we have sold just under 70 homes, and we are on track to close right around 120 homes again this year.
Unfortunately, not everyone can say that. The day's of just putting a sign in the yard, running ads and open houses don't work in a tough market. Anyone can sell a home in a good to great market. Even the homeowner can! But in a tough market, you are going to need even more than just MLS to sell your home for top dollar.
No matter what the market conditions are, we have proven we get our client more equity than the average agent. According to the National Association of Realtors, homes typically sell 3%-5% under the asking price. When we compare our stats from 2006 and 2007 to our competition, we are blowing them out of the water. Much of our competition in these market conditions are getting contracts accepted about 5%-7% under asking price. Want to see The Korn Team actual statistics for 2006 and 2007? Keep in mind these are just our "listings". These are the sellers that hired us to sell their home. This does not include all the buyer's we have helped.
We sold over 60 listings in 2006 and of all those sales, we averaged our sellers 99% of their asking price. That was the first solid year of the worst market KC has ever seen.
So far this year (as of the posting of this blog) we have sold 38 listings (not buyer sales, just our listings) and we are still averaging 99% of thier list price at the time of offer. We are getting them 97% of the original asking price. So, we try to get them top dollar, but even after making a small adjustment, we get the offers negotiated back up to almost full price.
So, don't trust your biggest asset (the equity in your home) with just anyone. Contact our team today for a FREE, no obligation review of the market conditions for your home. We promise to blow your socks off when you see our proven marketing plan.
The Korn Team
Serving Greater Kansas City & Lincoln, NE
http://www.kornteam.com/ or http://www.weselllincoln.com/
brad@kornteam.com
The Korn Team doesn't think so, in fact, with (supposedly) the worst market ever, we personally set a new team record over the past 15 years. In June, The Korn Team sold 23 homes. That was an all time high since we started our team.
In fact, just to show you what the market conditions are like for our team: In 2005 ( the third best year of Real Estate KC had ever seen, we sold 114 homes). In 2006 (the worst market Missouri had ever seen) we sold just under 120 homes. So far this year we have sold just under 70 homes, and we are on track to close right around 120 homes again this year.
Unfortunately, not everyone can say that. The day's of just putting a sign in the yard, running ads and open houses don't work in a tough market. Anyone can sell a home in a good to great market. Even the homeowner can! But in a tough market, you are going to need even more than just MLS to sell your home for top dollar.
No matter what the market conditions are, we have proven we get our client more equity than the average agent. According to the National Association of Realtors, homes typically sell 3%-5% under the asking price. When we compare our stats from 2006 and 2007 to our competition, we are blowing them out of the water. Much of our competition in these market conditions are getting contracts accepted about 5%-7% under asking price. Want to see The Korn Team actual statistics for 2006 and 2007? Keep in mind these are just our "listings". These are the sellers that hired us to sell their home. This does not include all the buyer's we have helped.
We sold over 60 listings in 2006 and of all those sales, we averaged our sellers 99% of their asking price. That was the first solid year of the worst market KC has ever seen.
So far this year (as of the posting of this blog) we have sold 38 listings (not buyer sales, just our listings) and we are still averaging 99% of thier list price at the time of offer. We are getting them 97% of the original asking price. So, we try to get them top dollar, but even after making a small adjustment, we get the offers negotiated back up to almost full price.
So, don't trust your biggest asset (the equity in your home) with just anyone. Contact our team today for a FREE, no obligation review of the market conditions for your home. We promise to blow your socks off when you see our proven marketing plan.
The Korn Team
Serving Greater Kansas City & Lincoln, NE
http://www.kornteam.com/ or http://www.weselllincoln.com/
brad@kornteam.com
Saturday, August 25, 2007
How The Korn Team gets more buyers to your Open House
Everyone wants to sell their home. Open Houses have, for the longest time, been a regularly requested activity. The truth is, less than 1% of all homes actually sell at thier own open house every year. My team has been selling real estate for over 16 years and we have multiple open houses every week.
We have never sold a home AT the open house. Don't get me wrong, we sell homes because we held a home open....just not the one we were sitting at during the open house hours. It does happen...just not enough that you should be kicked out of your home every Sunday for hours on end.
However, for those of you who do like open houses, here is just a few ways The Korn Team ensures we get the most traffic possible to your home on that day.
1) Put the signs up a week in advance, all over. knock on the doors of the homes and invite the homeowner whose property you put the signs in on Monday morning.
2) Call anyone in our database working with or knows a buyer in the 125k price range for that particular area. Then, call and invite them to the open house.
3) There are SEVERAL websites that you can also post the open house on. Definitely let us know so we can get it on realtor.com. It should be on MLS and KWLS as well. We post it on as many sites as possible...at least by Monday or Tuesday so you can get more traffic than you ever imagined.
If you are trying to sell a home, or know someone that is, have them contact us today for a free, no obligation evaluation of their home in this market.
Brad KornThe Korn Team
(816)224-KORN (5676)
(816)268-3839 fax
brad@kornteam.com
Your Personal Real Estate Consultants....for LIFE!
You can have everything in life you want, if you will just help other people get what they want. Zig Ziglar
ps. Shop our list of over 19,000 homes currently for sale in the Greater Kansas City area, for FREE! visit http://www.kornteam.com/
pss. You can also keep up to date with the Kansas City market by tuning into our monthly Podcast and Blogs at http://www.kornteam.com/.
Everyone wants to sell their home. Open Houses have, for the longest time, been a regularly requested activity. The truth is, less than 1% of all homes actually sell at thier own open house every year. My team has been selling real estate for over 16 years and we have multiple open houses every week.
We have never sold a home AT the open house. Don't get me wrong, we sell homes because we held a home open....just not the one we were sitting at during the open house hours. It does happen...just not enough that you should be kicked out of your home every Sunday for hours on end.
However, for those of you who do like open houses, here is just a few ways The Korn Team ensures we get the most traffic possible to your home on that day.
1) Put the signs up a week in advance, all over. knock on the doors of the homes and invite the homeowner whose property you put the signs in on Monday morning.
2) Call anyone in our database working with or knows a buyer in the 125k price range for that particular area. Then, call and invite them to the open house.
3) There are SEVERAL websites that you can also post the open house on. Definitely let us know so we can get it on realtor.com. It should be on MLS and KWLS as well. We post it on as many sites as possible...at least by Monday or Tuesday so you can get more traffic than you ever imagined.
If you are trying to sell a home, or know someone that is, have them contact us today for a free, no obligation evaluation of their home in this market.
Brad KornThe Korn Team
(816)224-KORN (5676)
(816)268-3839 fax
brad@kornteam.com
Your Personal Real Estate Consultants....for LIFE!
You can have everything in life you want, if you will just help other people get what they want. Zig Ziglar
ps. Shop our list of over 19,000 homes currently for sale in the Greater Kansas City area, for FREE! visit http://www.kornteam.com/
pss. You can also keep up to date with the Kansas City market by tuning into our monthly Podcast and Blogs at http://www.kornteam.com/.
I can't sell my house! What is wrong?
The real estate market is tough all across the country. Here is a recent converstation with another top agent in the area that spells out exactly what you need to do to ensure you get your home sold. If you are not selling your home, and frustrated because you are not getting any offers, listen to this comment:
My collegue states: "The truth of the matter is that there are 3 times the amount of homes on the market now as compared to last year. Is yours the best staged, best priced and the easiest to see? If not, it won't sell, but it will help the competition to sell." There are tips and tricks we know that can help you get more showings. It always comes down to Location, Price and condition & in this market...the marketing plan can play a BIG part to make sure the eyeballs at least get on your property.
On Aug 21, 2007, at 3:10 PM
For all your real estate needs, contact The Korn Team Serving Greater Kansas City & Lincoln, NE. We have already sold over 70 homes so far in 2007. You can't be one of our next sales unless you contact us today! 816-224-KORN (5676) or visit http://www.kornteam.com/ to see how we market our listings.
The real estate market is tough all across the country. Here is a recent converstation with another top agent in the area that spells out exactly what you need to do to ensure you get your home sold. If you are not selling your home, and frustrated because you are not getting any offers, listen to this comment:
My collegue states: "The truth of the matter is that there are 3 times the amount of homes on the market now as compared to last year. Is yours the best staged, best priced and the easiest to see? If not, it won't sell, but it will help the competition to sell." There are tips and tricks we know that can help you get more showings. It always comes down to Location, Price and condition & in this market...the marketing plan can play a BIG part to make sure the eyeballs at least get on your property.
On Aug 21, 2007, at 3:10 PM
For all your real estate needs, contact The Korn Team Serving Greater Kansas City & Lincoln, NE. We have already sold over 70 homes so far in 2007. You can't be one of our next sales unless you contact us today! 816-224-KORN (5676) or visit http://www.kornteam.com/ to see how we market our listings.
Friday, August 24, 2007
I just had a seller ask me if I would advertise that fact that they are a motivated sellers. I just posted a blog with the response I gave that person. See my advice at http://www.sellingmyhome.blogspot.com/
Brad KornThe Korn Team(816)224-KORN (5676)
(816)268-3839 fax
brad@kornteam.com
Your Personal Real Estate Consultants....for LIFE!
You can have everything in life you want, if you will just help other people get what they want. Zig Ziglar
ps. Shop our list of over 19,000 homes currently for sale in the Greater Kansas City area, for FREE! visit http://www.kornteam.com/
pss. You can also keep up to date with the Kansas City market by tuning into our monthly Podcast and Blogs at http://www.kornteam.com/
Brad KornThe Korn Team(816)224-KORN (5676)
(816)268-3839 fax
brad@kornteam.com
Your Personal Real Estate Consultants....for LIFE!
You can have everything in life you want, if you will just help other people get what they want. Zig Ziglar
ps. Shop our list of over 19,000 homes currently for sale in the Greater Kansas City area, for FREE! visit http://www.kornteam.com/
pss. You can also keep up to date with the Kansas City market by tuning into our monthly Podcast and Blogs at http://www.kornteam.com/
Saturday, December 02, 2006
Who Says the Market is Slow??
You've read it in the newspapers. You are hearing it on the news. The real esate market is down. It is a Buyers market. Homes are not selling.
If you are selling your home and not getting much traffic you may be hearing that "the market is what it is". There is nothing we can do but wait.
Well, I am here to tell you that it just is not so. This November of 2006, The Korn Team has sold more homes than any other month ALL YEAR! We helped 15 families close on a property in November. The average agent only sells 6 homes in an entire year (according to the National Association of Realtor statistics). We more than doubled that just in November.
Granted, there is much more inventory on the market than we have ever had, but the fact is people are still moving. The typical sign, newspaper ads & open house marketing plans are more of a "wait till they find me" marketing plan. More than ever, our aggressive marketing is paying off for our clients. We had 3 properties that had been on the market for almost 6 months, and all 3 sold in the same week. Some had more than one offer.
Our aggressive marketing plan keeps your property "fresh" in the market, and we ensure that when a new buyer comes into the market to purchase a home like yours, they will know your home is for sale.
So, don't let anyone tell you that the market is DEAD...We can prove that it isn't. For a free, no cost, Brokers price opinion and evaluation of how we can help you get the most equity from your home, contact us at (816) 22-KORN (5676) or visit our website at www.kornteam.com
You've read it in the newspapers. You are hearing it on the news. The real esate market is down. It is a Buyers market. Homes are not selling.
If you are selling your home and not getting much traffic you may be hearing that "the market is what it is". There is nothing we can do but wait.
Well, I am here to tell you that it just is not so. This November of 2006, The Korn Team has sold more homes than any other month ALL YEAR! We helped 15 families close on a property in November. The average agent only sells 6 homes in an entire year (according to the National Association of Realtor statistics). We more than doubled that just in November.
Granted, there is much more inventory on the market than we have ever had, but the fact is people are still moving. The typical sign, newspaper ads & open house marketing plans are more of a "wait till they find me" marketing plan. More than ever, our aggressive marketing is paying off for our clients. We had 3 properties that had been on the market for almost 6 months, and all 3 sold in the same week. Some had more than one offer.
Our aggressive marketing plan keeps your property "fresh" in the market, and we ensure that when a new buyer comes into the market to purchase a home like yours, they will know your home is for sale.
So, don't let anyone tell you that the market is DEAD...We can prove that it isn't. For a free, no cost, Brokers price opinion and evaluation of how we can help you get the most equity from your home, contact us at (816) 22-KORN (5676) or visit our website at www.kornteam.com
Saturday, September 02, 2006
The Korn Team Goes on the Air!! Live Radio
You can now stay in touch with the Kansas City market on the radio every Saturday morning from 10am-12pm. Brad Korn is co-hosting with Tim & Rhonda Chin on Kansas City's most progressive business show, Bizz Buzz Live. Tune into KCXL 1140 AM (and the sister station 1160 AM). You can also listen online at www.bizzbuzzlive.com.
We have two portions to our show. The first hour has a business slant. We want to help everyone who wants to grow their business. We have business tips on how to get the most from your business, money saving tips, etc. The second hour is geared towards mortgage and real estate topics.
Every week we have featured guest that bring their knowledge and experience to the show. We have everything from financial planners, estate planners, carpet cleaning tips, home inspector & termite companies. This show features great tips & tricks and everything you need to know about those topics.
Tune in, and call in during our show for any questions you may have for our guest. (816) 792-1140 and for all your real estate needs visit www.kornteam.com
You can now stay in touch with the Kansas City market on the radio every Saturday morning from 10am-12pm. Brad Korn is co-hosting with Tim & Rhonda Chin on Kansas City's most progressive business show, Bizz Buzz Live. Tune into KCXL 1140 AM (and the sister station 1160 AM). You can also listen online at www.bizzbuzzlive.com.
We have two portions to our show. The first hour has a business slant. We want to help everyone who wants to grow their business. We have business tips on how to get the most from your business, money saving tips, etc. The second hour is geared towards mortgage and real estate topics.
Every week we have featured guest that bring their knowledge and experience to the show. We have everything from financial planners, estate planners, carpet cleaning tips, home inspector & termite companies. This show features great tips & tricks and everything you need to know about those topics.
Tune in, and call in during our show for any questions you may have for our guest. (816) 792-1140 and for all your real estate needs visit www.kornteam.com
Wednesday, August 16, 2006
5 Biggest Mistakes Buyers Make, and How to Avoid Them!
Mistake #1: Buyers fail to get pre-qualified or pre-approved for a mortgage before they actually begin looking at properties. Buyers have greater flexibility in making offers and have a stronger negotiating position by getting this out of the way first.
Mistake #2: Buyers fail to look at full cost of home ownership. They need to sit down with qualified professional and be sure they are budgeting for property assessments, taxes, utilities, and maintenance. Buyers who calculate their cost ahead of time often get through their closing with fewer surprises.
Mistake #3: Many buyers don't start with a plan. Many times they are looking on internet and start driving around by themselves, unable to act quickly, or see the best homes before they are sold. The best homes are the best homes for a reason, and they sell FAST.
Mistake #4: When working with seller directly, or even through an agent be sure to get everything agreed to in writing. Miscommunication creates big problems at closing.
Mistake #5: Be present for final walk through. Make sure everything is the way it should be before you sign on the dotted line.
If you would like more detailed information about these tips, check out our Podcast. We provide monthly podcast tips to help with your real estate questions. Just go to www.kornteam.com and click on our Podcast banner. For more information you can also contact us directly at (816) 224-KORN (5676).
Mistake #1: Buyers fail to get pre-qualified or pre-approved for a mortgage before they actually begin looking at properties. Buyers have greater flexibility in making offers and have a stronger negotiating position by getting this out of the way first.
Mistake #2: Buyers fail to look at full cost of home ownership. They need to sit down with qualified professional and be sure they are budgeting for property assessments, taxes, utilities, and maintenance. Buyers who calculate their cost ahead of time often get through their closing with fewer surprises.
Mistake #3: Many buyers don't start with a plan. Many times they are looking on internet and start driving around by themselves, unable to act quickly, or see the best homes before they are sold. The best homes are the best homes for a reason, and they sell FAST.
Mistake #4: When working with seller directly, or even through an agent be sure to get everything agreed to in writing. Miscommunication creates big problems at closing.
Mistake #5: Be present for final walk through. Make sure everything is the way it should be before you sign on the dotted line.
If you would like more detailed information about these tips, check out our Podcast. We provide monthly podcast tips to help with your real estate questions. Just go to www.kornteam.com and click on our Podcast banner. For more information you can also contact us directly at (816) 224-KORN (5676).
Saturday, July 22, 2006
Forclosures in Greater Kansas City
Forclosures in Kansas City are a growing topic. Forclosures happen when a home owner falls behind on their mortgage payments to the point that the bank worries that they may never get it caught up. At this point the bank will go through the many necessary hoops to forclose on the property.
Depending on the market conditions, many of these homes will sell at - or close to the full market value. If you are a seller going through a tough time and forclosure is a possibility...you owe it to yourself to know ALL your options. Contact a professional who can assess the fair market value. Selling to "We buy homes" type organizations could cost you the equity you have built up. Once you get your first notice, and it doesn't look like you can or will get caught up, you could recoup most of your equity, and still sell you home fast enough to keep a foreclosure off your credit.
For the full story on Forclosures in KC, contact The Korn Team at (816) 224-KORN (5676) or send us an email at brad@kornteam.com
Forclosures in Kansas City are a growing topic. Forclosures happen when a home owner falls behind on their mortgage payments to the point that the bank worries that they may never get it caught up. At this point the bank will go through the many necessary hoops to forclose on the property.
Depending on the market conditions, many of these homes will sell at - or close to the full market value. If you are a seller going through a tough time and forclosure is a possibility...you owe it to yourself to know ALL your options. Contact a professional who can assess the fair market value. Selling to "We buy homes" type organizations could cost you the equity you have built up. Once you get your first notice, and it doesn't look like you can or will get caught up, you could recoup most of your equity, and still sell you home fast enough to keep a foreclosure off your credit.
For the full story on Forclosures in KC, contact The Korn Team at (816) 224-KORN (5676) or send us an email at brad@kornteam.com
Saturday, March 04, 2006
CLUE Reports: What are they and how do they affect your insurance and your ability to purchase a home?
We talked about CLUE reports in our previous Podcast on www.kornteam.com. A CLUE report comes from the Comprhensive Loss Underwriting Exchange and is used by the insurance industry. Basically a CLUE report lists all the insurance claims that have been filed against a property over the last 3-5 years. Depending on the number of Claims, an insurance underwriter may determine that a home is more or less risky to insure.
Some premiums go up after a CLUE report is evaluated by an underwriter and is something both buyers and sellers need to be aware of. The good news is that just because a property has had a lot of claims doesn't (necessarily) mean the new homeowners premiums will be higher. Most of the time those higher premiums follow the person who made the claim.
Although, there are time when a CLUE report can reveal a flaw in a home and be a greater risk for the new owners home insurance resulting in a higher premium. When you have an experienced team of agents representing you, they will help you determine issues such as these before it is too late.
If you would like to hear the full report about CLUE reports, visit www.kornteam.com and click on our monthly Podcast Report. The Clue Report was our February Podcast. Feel free to share this information with anyone you know who owns a home or is planning to buy or sell real estate in the near future.
To ensure you get an experience team looking out for your best interest, contact us directly at (816) 224-KORN (5676) or send us an email at info@kornteam.com
We talked about CLUE reports in our previous Podcast on www.kornteam.com. A CLUE report comes from the Comprhensive Loss Underwriting Exchange and is used by the insurance industry. Basically a CLUE report lists all the insurance claims that have been filed against a property over the last 3-5 years. Depending on the number of Claims, an insurance underwriter may determine that a home is more or less risky to insure.
Some premiums go up after a CLUE report is evaluated by an underwriter and is something both buyers and sellers need to be aware of. The good news is that just because a property has had a lot of claims doesn't (necessarily) mean the new homeowners premiums will be higher. Most of the time those higher premiums follow the person who made the claim.
Although, there are time when a CLUE report can reveal a flaw in a home and be a greater risk for the new owners home insurance resulting in a higher premium. When you have an experienced team of agents representing you, they will help you determine issues such as these before it is too late.
If you would like to hear the full report about CLUE reports, visit www.kornteam.com and click on our monthly Podcast Report. The Clue Report was our February Podcast. Feel free to share this information with anyone you know who owns a home or is planning to buy or sell real estate in the near future.
To ensure you get an experience team looking out for your best interest, contact us directly at (816) 224-KORN (5676) or send us an email at info@kornteam.com
Sunday, January 29, 2006
Is this the right time of year to sell?
I would like to find out who started that rumor. The myth-understanding with this statement is not based on any factual data. I guess people just assume that because no one would want to move in the winter time, that the market slows down. The truth is, people move all year round. In fact, December is sometimes our busiest time of the year. Yes, it's true. We have sold more homes in December than in August, two out of the last 4 years.
This myth-understanding comes from statistics you have heard. The statistics from the National Board of Realtors shows that typically 50% of all homes that sell in the United States sell between Memorial Day and Labor Day. That is most likely because everyone likes to move when school is out.
Here is a fact you may not be aware of. Even though 50% of all homes sell during the summer months, there is a LOT more competition on the market. Everyone seems to wait for summer to sell. That creates more competition than normal and can sometimes result in lesser sales prices because the supply is larger than the demand.
Another fact is that people do move all year. By the time November comes, most of the summer seller's who overpriced their properties are beginning to expire (or come off the market). By December the inventory levels are much lower than they have been all year. Even though there may be fewer buyers in the marketplace, there are fewer homes to choose from. Supply and Demand seem to equal out, which makes for a great market. Buyer and Seller, BOTH, get a fair price for the property.
Summer buyers begin searching on the internet in November & December. They start the pre-approval process. If they get all their ducks in a row, they just might find the home of their dreams before summer get here. RESULT: Properties selling. In fact, February and March are very busy months for the real estate industry.
But, I must be honest for a moment. Much of the industry may be laying low during those winter months because they were taught the same as you...homes don't sell in the winter months. The Korn Team helped over 120 families in the Greater Kansas City area last year and we are here to tell you, "That just isn't so. People are moving every day of the year".
Our Instant Notification Program notifies buyers of homes daily as they become available. Our clients don't miss great bargains or dream homes because they can drive by properties as they become available, not just once a week or once a month. In fact, The Korn Team even provides a FREE home search tab on our website at www.wesellkansascity.com where buyers can save their searches.
Because we don't take the winter months off, our seller clients continue to get massive exposure until their property sells.
If you are planning to sell a home and would like more information about how we market our listings or to get a personalized consultation regarding the sale of your property don't hesitate to contact us for a FREE, no obligation, analysis of your situation. You can contact us at (816) 224-KORN (5676) or visit www.kornteam.com
If you are planning to buy a home an would like more information about our Instant Notification Program, just contact us at (816) 224-KORN (5676) or visit www.kornteam.com
Happy House Hunting and Selling!
Brad Korn
The Korn Team
I would like to find out who started that rumor. The myth-understanding with this statement is not based on any factual data. I guess people just assume that because no one would want to move in the winter time, that the market slows down. The truth is, people move all year round. In fact, December is sometimes our busiest time of the year. Yes, it's true. We have sold more homes in December than in August, two out of the last 4 years.
This myth-understanding comes from statistics you have heard. The statistics from the National Board of Realtors shows that typically 50% of all homes that sell in the United States sell between Memorial Day and Labor Day. That is most likely because everyone likes to move when school is out.
Here is a fact you may not be aware of. Even though 50% of all homes sell during the summer months, there is a LOT more competition on the market. Everyone seems to wait for summer to sell. That creates more competition than normal and can sometimes result in lesser sales prices because the supply is larger than the demand.
Another fact is that people do move all year. By the time November comes, most of the summer seller's who overpriced their properties are beginning to expire (or come off the market). By December the inventory levels are much lower than they have been all year. Even though there may be fewer buyers in the marketplace, there are fewer homes to choose from. Supply and Demand seem to equal out, which makes for a great market. Buyer and Seller, BOTH, get a fair price for the property.
Summer buyers begin searching on the internet in November & December. They start the pre-approval process. If they get all their ducks in a row, they just might find the home of their dreams before summer get here. RESULT: Properties selling. In fact, February and March are very busy months for the real estate industry.
But, I must be honest for a moment. Much of the industry may be laying low during those winter months because they were taught the same as you...homes don't sell in the winter months. The Korn Team helped over 120 families in the Greater Kansas City area last year and we are here to tell you, "That just isn't so. People are moving every day of the year".
Our Instant Notification Program notifies buyers of homes daily as they become available. Our clients don't miss great bargains or dream homes because they can drive by properties as they become available, not just once a week or once a month. In fact, The Korn Team even provides a FREE home search tab on our website at www.wesellkansascity.com where buyers can save their searches.
Because we don't take the winter months off, our seller clients continue to get massive exposure until their property sells.
If you are planning to sell a home and would like more information about how we market our listings or to get a personalized consultation regarding the sale of your property don't hesitate to contact us for a FREE, no obligation, analysis of your situation. You can contact us at (816) 224-KORN (5676) or visit www.kornteam.com
If you are planning to buy a home an would like more information about our Instant Notification Program, just contact us at (816) 224-KORN (5676) or visit www.kornteam.com
Happy House Hunting and Selling!
Brad Korn
The Korn Team
Saturday, January 21, 2006
Top Agent Blog
The Kansas City market continues to be a great place for buyers and sellers. Have you heard of a Real Estate Bubble? Well, there is no bubbles close to the midwest. Home values are at a steady 3%-5% increase each year. There are some areas and neighborhoods that may be going up in value faster than that, but overall it is pretty steady.
Many real estate investors find Kansas City a great place to put their investment dollars. Multifamily and commercial properties are some of the best prices in the country. Also, our buy and hold investors find that this market in many cases offers rental rates that break even up to several hundred dollars a month in cash flow. Compared to other markets around the country where investors carry properties with no to negative cash flow, the Greater Kansas City area can offer some cush room.
You can search our FREE list of over 19,000 homes currently for sale in Greater Kansas City at www.kornteam.com. If someone would like more information about investment in commercial real estate or multi-family and apartment buildings, feel free to contact us directly and info@kornteam.com or by calling (816) 224-KORN (5676)
Brad Korn
Serving Greater Kansas City
www.kornteam.com
The Kansas City market continues to be a great place for buyers and sellers. Have you heard of a Real Estate Bubble? Well, there is no bubbles close to the midwest. Home values are at a steady 3%-5% increase each year. There are some areas and neighborhoods that may be going up in value faster than that, but overall it is pretty steady.
Many real estate investors find Kansas City a great place to put their investment dollars. Multifamily and commercial properties are some of the best prices in the country. Also, our buy and hold investors find that this market in many cases offers rental rates that break even up to several hundred dollars a month in cash flow. Compared to other markets around the country where investors carry properties with no to negative cash flow, the Greater Kansas City area can offer some cush room.
You can search our FREE list of over 19,000 homes currently for sale in Greater Kansas City at www.kornteam.com. If someone would like more information about investment in commercial real estate or multi-family and apartment buildings, feel free to contact us directly and info@kornteam.com or by calling (816) 224-KORN (5676)
Brad Korn
Serving Greater Kansas City
www.kornteam.com
Monday, January 09, 2006
Now there is a site available for the Kansas City Homeowners and Homebuyers! You can come to this site to find out about Real Estate activity happening in and around the Greater Kansas City Market.
Kansas City continues to be a stable market for real estate. To stay informed with real estate updates and comments, be sure to register for this Blog to keep you up to date.
If you would like more information, feel free to contact me, Brad Korn. You can visit our website for all of our contact information at www.kornteam.com.
Thanks! Looking forward to blogging with the Kansas City area residents :)
Kansas City continues to be a stable market for real estate. To stay informed with real estate updates and comments, be sure to register for this Blog to keep you up to date.
If you would like more information, feel free to contact me, Brad Korn. You can visit our website for all of our contact information at www.kornteam.com.
Thanks! Looking forward to blogging with the Kansas City area residents :)
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