E-NEWSLETTER, JULY 20, 2009
HARRY’S COLUMN
THE NEGOTIATION PROCESS
real estate transactions are often won or lost during the process of negotiation. And we have found that better negotiating skills make happier clients.
Finding the right property for the Buyer and the right Buyer for the Seller is only the first step in the negotiating process. Once the price for the property is established, there are 29 performance dates required by the standard “Colorado contract to Buy and Sell real estate”. Any one of these dates can be a “deal killer”, for either the Buyer or the Seller. This is especially true in a relocation transaction, where we need to correlate timetables in two different states.
As your Broker, another one of our responsibilities is to introduce you to competent, trustworthy vendors who will be able to provide reliable services such as moving, storing household goods, providing temporary housing, and, most importantly, providing the best mortgage available.
In order to assist you with the best advice possible relating to your mortgage, we regularly study the daily mortgage rates as published in the Wall Street Journal. That enables us to advise either for or against an offering by any of our local lenders, based upon the current “wholesale” rates. We are happy to provide our clients with the most experienced, knowledgeable advice in the area of financing.
Almost every real estate transaction requires negotiation. Some of the issues that can complicate a transaction are:
A corporate buyout
A sale involving two attorneys
A sale involving a divorce settlement
A sale involving a foreclosure sale
The bottom line is that, with over 37 years of experience in negotiating real estate transactions, we are confident we can negotiate the best deal possible for you. I invite you to call me, personally, to discuss your own unique requirements.
FREDDIE MAC SAYS HOME SALES WILL POST STEADY GAINS
The analysts at Freddie Mac say that home sales bottomed out in the first three months of 2009 and will post steady gains each quarter to reach a pace of 5.85 million sales by the fourth quarter of 2010. This forecast agrees with the predictions we have posted in our newsletters since early 2009.
Although home prices have declined over the past year, the Standard and Poor Case-Shiller Home Price Index Report projects the rate of decline slowing to 10% during the third quarter of this year and shrinking each quarter of 2010 from a high of 5% to 1%. Rates on 30-year fixed-rate mortgages are expected to continue rising from their low of 5% in the second quarter of this year, reaching 5.5% in the final quarter of 2010. At 5.8%, however, the projected average for 30-year fixed rate mortgages would still be low, by historic norms.
Click here for the July 2009 Economic and housing market Outlook from Freddie Mac
NUMBER ONE AIN’T BAD
We were proud to note that, according to 2008 Real Trends 500, Leading real estate Companies of the World, the group of which we are members, lead every other organization in home sales for the year. The statistics show that in 2008, of the top 500 U.S. Real Estate firms, Leading RE accounted for 29% of all sales, with our nearest competitor coming in a t 23%. (Third place came in at 13%).
Leading RE affiliates were also #1 in transactions in 37 of the top 88 U.S. markets.
We are proud to be a member of such a highly professional team.
By the way, don’t forget to click onto my most recent podcast, at the top of this email. We try to give you some interesting data in our monthly radio updates.
Also, please remember, I would be honored to serve as your broker for all of your residential real estate needs.
And, if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 37 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move.
JOKE OF THE WEEK
