Charlie Ragonesi Big Canoe Realestate's Blog: December 2008

Come out Come out

The Market today

 

In 2008 I felt like a Munchkin. Some one dropped a market on my House !!! The wicked witch had a Wall Street Address. Her minions were not flying Monkeys but Credit Default Swaps and CDO's.

So here are the questions . Are lower interest rates the Ruby Slippers ?  Will Buyers come out? I think so. I think the storm is just about over. As Realtors maybe when we get to Emerald City we should be asking the Wizard for some Tums. But regardless, The opportunity is here. It is now . And in the end we will be better Realtors for it. And we will help many get into their dream homes which are now more affordable

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

10 comments • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • December 30 2008 07:45AM

Jasper Georgia Home, Foreclosures and the problems with them

OK take a look at the house below. I did a BPO on it. Here are the problems. The house is great. But it is full of trash. Will the bank clean it out? In this case yes a little. Will the bank bring in some one to make sure things work?  Probably not. The fight over this home is the listing price. It may be listed as low as 125,000. A really great deal for some one other than the lender.

This brings me to the point of the post. If lenders will spend a little time and clean up properties as well as work with us in the business we can get them more for their homes. Every body should be happy right?

But lenders are dumping, which is good for a buyer WHO CAN LOOK PAST THIS. But the buyer who buys this homes probably will not have a lot of extra money to do repairs. See the problem. So the home may be bought but needed repairs will not be made and this will again go into foreclosure.

Lenders need to work on clean up . I in turn will continue to try and get my buyers to see past the mess

 

foreclosed homes

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

18 comments • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • December 21 2008 02:38PM

Realtor 2009

Somewhere in 2007 housing began to slump. Many felt that slump and got out or changed to working with REO's or even short sales. At the same time there was a continuation of use of technology and the Internet. So what will it mean to be a Realtor in 2009?

In my opinion the successful Realtors will be the community experts. Gone are the days when you are a tour guide. Ironically this down turn in the market will contribute to our evolution. Take the short sale for example. If your buyer does not know that a second loan on a short sale can be a tax liability he/she is in for a big surprise. Also if you are not putting your short sale sellers into lease purchases you are doing you and them a disservice.

You will be called upon to know about the 4 horsemen , mold, poly-b pipes, LP siding and radon. The Internet will provide the vanilla services that we as Realtors used to provide. Our roles will be enhanced and deepened. In the end we will be come the trusted adviser's and service providers.

This is a good thing for us. But like all changes it is tough. Learn and thrive in 2009

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

11 comments • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • December 14 2008 02:30PM

Mountain Real Estate

There are a lot of mixed messages in the media today. The big DUH is that we have been in a recession for a year. Tell me something I didn't know!!! One of the other messages is prices of homes are declining. A third, since I said mixed messages, is that interest rates are falling.

Lets look at Mountain property and declining prices. It is true that in the mountain counties prices have dropped about 10 percent for homes in 2008. But this number is VERY misleading. First off you have different groups of buyers. You have folks who live in the mountains and work here that are buying. You also have folks who are either retiring here or looking for a second home.

The second homes or retiring group are the ones that tend to be more affluent and buy higher priced homes. They are suffereing in the recession. They are being more conservative when it comes to a second home. They are delaying purchasing. Therefore the higher end homes are not selling as rapidly and sellers are lowering prices.

The first group is taking advantage of great inventory and low interest rates. Homes under 200k are selling at a brisk rate. Those prices are NOT declining.

So when you look at the numbers in total, prices are down because the higher end homes are not as big a part of the mix and are declining somewhat in price. If you are looking to buy and are in the market under 200k now is the time. It has been your time all year. With lower rates and some of the great financing deals out there it really is a great time to grab a piece of the dream. These homes are not suffering the decline that others are.

Real Estate is very specific. Not only to your market but the strata of prices within your market. Do not lose out because not all parts of the market are declining. The pro's at All Mountain Realty are here to be your community experts in these complex times.

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

3 comments • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • December 03 2008 01:08PM