JeffDuneske.com

Jeff Duneske's Blog

How much can I get for my home?

February 13th, 2008 10:00 PM

I am asked that question dozens of times a week. There are three major factors that will decide how quick your home can sell.

1.) Condition - Is your home presented well. Does it have updates and upgrades? Does your home have neutral decor? Is it in a good and desirable location? Is it clean? Are there no strong odors such as cooking, smoking or pet odors?

2.) Marketing - Is your home on the multiple listing service? Are you using a real estate agent? Is it being advertised in the prime areas and vehicles that home buyers search for homes at?

3.) Price - The MOSt important factor. It is key that your home is priced well. Having an appraisal or market analysis is key in determining current market value that are no older then 3 months dated. Buyers in today's market want a bargain. Pricing your home high or above the market average price will result in two outcomes, your home will expire off the market or it will never get an offer. Price it right rom the start!

Posted by Jeff Duneske on February 13th, 2008 10:00 PMPost a Comment (0)

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We're being misled on the real estate market by the media!

February 27th, 2008 11:37 PM

Look at the kind of "numbers" the media is using to scare folks!

1. Gross foreclosure "FILINGS" versus actual foreclosures! (60% of "filings" do NOT results in a foreclosure!)

2. Number of "FILINGS" versus number of PROPERTIES. (There are SEVERAL "filings" just for ONE property! Whether it ever actually gets foreclosed-upon or not! They count "filings," NOT properties!)

3. They IGNORE foreclosure cancellations, redemptions, & title changes that occur INSTEAD of ACTUAL foreclosures.

Posted by Jeff Duneske on February 27th, 2008 11:37 PMPost a Comment (0)

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NEVER fall for this!

February 22nd, 2008 2:17 PM

Make sure you do not pay any transaction fee by a broker/real estate agent who tells you that they collect this on top of their commission at closing of your real estate transaction. What a transaction fee is an expense charged to the consumer on top of the commission for their job of either listing or selling a home. I look at this as charging a client twice for the same job. The average transaction fee ranges from $99 up to $399. REFUSE to pay for this fee! I have never charged my clients a transaction fee. In a real estate market where sellers are loosing thousands of dollars on their home sale or where buyers are now bringing a lot more money to closing for down payments and their liquid funds are sometimes minimized, consumers should not be tricked in to thinking this is right. If you choose to work with a broker or agent other then myself, make sure you ask this upfront, "Do you charge a transaction fee"? If they do, refuse to pay or have them remove this charge. Beware, many brokers/agents will hide this fee in fine print in their listing contracts or purchase agreements.

Posted by Jeff Duneske on February 22nd, 2008 2:17 PMPost a Comment (0)

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Five Reason to Buy a Home Right Now in Metro Detroit

February 8th, 2008 3:40 PM

1. Prices in the neighborhood you are interested in are relatively stable. Either they are holding their own or increasing, or the pace of decline is slowing significantly. If you have to move and don't like apartments, the small penalty you pay for missing the bottom may not mean much.

2. You plan to stay in the home for more than five years. If you can stick it out that long before selling, economists say you’ll probably ride out any downturn and come out ahead on price.

3. Your rent rivals a mortgage payment. If you can afford to buy, it can give you one bonus that renting can't: the mortgage-interest deduction on your taxes.

4. You've found the right house in the right area for you. The schools are great. You love the area and know it would be hard to find another house like the one you have your eye on. In a better market, you would most likely have much more competition for that home.

5. You've built equity in your house and are moving to a place where homes are cheaper. In your new market, your money will go a lot further.

Posted by Jeff Duneske on February 8th, 2008 3:40 PMPost a Comment (0)

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