When it comes to understanding the factors that come into play when buying or selling home— or any practical real estate information at all—Metairie high school (or even college) graduates are on their own. If any real estate information has even been touched upon, it will have been in the most cursory manner: at best, one line item in a Home Economics budgeting discussion.That’s one reason why everyone from first time Metairie homebuyers to itinerant real estate investors can benefit from the best of today’s how-to real estate books. Here are some of the popular oldies—as well as some valuable newcomers:100 Questions Every First Time Home Buyer Should Ask is Ilyce Glink’s compilation of insights from top brokers across the country. Town first time buyers aren’t the only readers who wil... 10/20/2015

Earnest Money DepositThe more money you can get in the form of a deposit from a potential buyer the greater the chance of getting to a closing.  The more a buyer has to lose the more motivated the buyer becomes to buying your home.Agreement to PurchaseDon’t wait until you have a buyer, get an acceptable Agreement to Purchase now.  You can purchase forms from an office supply such as Office Depot, Staples, etc.  You should also get forms related to Counter Offers, Deposits, etc. as well.Seller DisclosuresLouisiana requires that ALL transfers of residential real estate use the Seller Disclosure form created by the Louisiana Real Estate Commission. This form is used to identify all known defects and any history on the property being sold.  You can obtain a copy of this form from any licens... 10/20/2015

 More than one Metairie home sale has resulted from a couple’s chance encounter with a Metairie open house. It still happens that they just drop in on the spur of the moment.         “Oh look! They’re having an open house down the street!” turns into curiosity, then interest, excitement—and ultimately, a life-altering change in where they call home.         Today that still happens, but a good deal less frequently than in the past. Part of the reason is the demotion of the open house in the pecking order of Metairie real estate strategies. At this point, a Metairie open house is simply never the central element in a home’s marketing blitz. The web has seen to that.         Let’s face it: if you can visit any listed home via its online virtual tour, the whole idea is that it requires a f... 10/19/2015

When you read up on the dos and don’ts for selling your home, there is one piece of advice that’s universal when it comes to negotiating a successful deal: don’t let emotions get in the way. It does seem peculiar that something that is so obvious about any negotiation would have to be stated at all—much less repeated so often. You have to conclude that it happens a lot.It does, and there are deep-seated reasons. Although selling your Metairie home is primarily a business venture, it’s one with some of the emotional overtones usually associated with creative endeavors. When an artist or sculptor, jewelry designer or photographer—any creative professional—decides to offer works for sale to the public, it’s nearly impossible for him or her to remain completely objective about how it is rec... 10/19/2015

QuestionsYou can learn a great deal about people and their motives, likes and dislikes by asking a lot of questions.  Learn to stop the selling and ask more questions but more importantly, listen to the answers.NegotiationsTry to avoid discussing or negotiating price until the buyer has decided the home is right.  Remember, any negotiations should be in writing to avoid confusion.Don’t seem over-anxiousThis should be obvious.  Being anxious usually results in a lower offering price.Know your real reasons to sellKnow why you are selling.  Just testing the market?  Need to move?  Need more room?  In other words, what is your motivation for selling?  If you do not have to move, there is less incentive to negotiate.Pre-QualificationReal estate agents/consultants usually have their potential... 10/16/2015

If 90% of home buyers use the internet at some point in their search, the percentage who go to the Metairie listings has to be close to the same ballpark. It’s hard to imagine anyone NOT wanting to take at least a peek at the current listings. Even if they have already settled on a target property, curiosity would send most of us to check out the way it’s described in its Metairie listing.When you begin your house-hunting project online, the chances are you just scan the listings’ major features to narrow down the candidates, leaving out the majority of the finer details until later. Some of that information might turn out to be decisive—but most likely not until you’ve settled on the major contenders, and possible already toured them in person.What can be more important than you’d thin... 10/16/2015

DefectsDisclose, disclose and disclose!  You can sell a home with defects as long as you disclose them.  Knowing about a defect and not disclosing it could prove legally dangerous and may even revere a sale if serious enough. ApologiesNever apologize for the condition of your home.EmotionsDifficult as it may be, you want to remove emotion from the process.  In order to remove emotions, you must first be aware of them.  Always be aware.FeaturesList the features of the property such as double-paned windows, gas fired fireplace, etc.  Don’t confuse features with benefits.BenefitsPeople tend to buy what the features will provide like security, good schools, a place for the family to meet, views, etc.  Sell the sizzle! Keller Williams Realty New Orleans504 975 1033TerezHarris@KW.comTerezSell... 10/15/2015

“Metairie home loan game theory” sounded like an intriguing topic when the phrase first occurred to me. I thought it would mean figuring out whether a mortgage would constitute a financial move that made sense. But the more I studied “game theory,” the more complicated it got. And maybe not as theoretical as I’d thought...As far as the terms themselves are concerned, a Metairie “Home Loan” is exactly what it says it is: a mortgage on your Metairie home. “Game theory” is more obscure. For openers, “game theory” sounds like a lot more fun that it really is. It’s like the bore who wants to tell you exactly why some joke is funny—the explanation isn’t at all humorous. ‘Game theory’ isn’t about playing anything. It’s about mathematics.Professor R.B. Myerson is the authority who tells us that... 10/14/2015

  There is an interesting theory about why some Metairie real estate agents complete so many more home purchases than do others. It isn’t that ‘success breeds successes (although the thing we call “momentum” is certainly real enough). It has to do with being able to harness two somewhat opposing character traits.In any business, there seldom seem to be any irrefutable rules that guarantee prosperity…or if they do crop up from time to time, they don’t work for long. Since that’s the case, it’s odd that there are so many best-sellers proclaiming roadmaps to success. If all those books were simply rip-offs, you would think they’d quickly develop a backlash (which would kill the market for books about succeeding in business).I’d be willing to bet that the answer lies in the commitment it ta... 10/13/2015

Lighting Everyone, at least almost everyone, enjoys a bright and airy feeling when they tour homes to purchase.  Open drapes, turn on the lights, and increase the wattage of the light bulbs if necessary. Religious ItemsYou can never be assured of the religious affiliation if any of the potential buyers.   If there is one thing that can disrupt the process it could be the presence of religious items contrary to the beliefs of the buyer.  You are going to move them anyway, so pack them away and do not take offense. Scents One of the way buyers later describe the homes they have seen is by defects and smells.  You want to eliminate defects such as a  broken window or rotten door casing.  “Oh that was the home with the broken upstairs window.”  Or do you want buyers saying, “Oh, that was th... 10/12/2015

 You know what the “wow factor” is for any Metairie home that’s for sale—it’s the extra something that’s highly desirable and unique to the property. It could be a three-story entry hall, or a game room that’s large enough for a pool table and a conversation pit. It might be a home theater with four stepped rows of velvet-upholstered movie house seats. It might be a bricked backyard barbecue arena, with a step-down standing pit which puts the Chef of the day at eye level with the seated guests.And you also know what a Metairie fixer-upper is. It’s any Metairie property that is up for sale at a bargain price due to maintenance that is left for the new owner to worry about. A Metairie fixer-upper is an opportunity for prospective buyers to become owners of homes that would otherwise be ou... 10/12/2015

Specific Advantages of working with a Real Estate Agent/Consultant First there is a difference between an agent and a consultant.  In any sales profession, only 20% of the people sell 80% of the property.  Most of these 20% people are consultants meaning that they engage the customer in an in depth needs analysis before they try to meet and exceed those needs.  That is why they close 80% of the sales.  The remaining 80% of the profession make a great deal of assumptions regarding what the customer wants and then they hope to meet those needs.  The advantage of working with an agent/consultant is that you are electing to work with a professional who is trained in real estate sales and customer relations.  From a security position, professional real estate agents/consultants normally qual... 10/08/2015

SignsYard signs have and will continue to be the number one reason a buyer looks at a home.  Believe it or not the quality of a yard sign has a great subconscious affect on buyers as it speaks about the owners as well as the house for sale.  A great many buyers, being skeptical about sellers, will only look at homes being offered for sale through a reputable real estate company believing, rightfully or wrongfully, that they will be protected to some degree by the real estate broker/agent/company. Photo Brochure/FlyerNo matter what form of advertising you elect to participate in, INCLUDE PHOTOS.  The more photos, the higher the possibility of making a sale.  A serious consideration to any advertising regards how much information to provide.  If you provide everything a buyer might want t... 10/08/2015

The outlook for owners of Metairie rental properties has been buoyant for some time, but last month a widely-publicized report added to the long range outlook. The study presented multiple scenarios in which demand is likely to outpace the supply of rental properties in the U.S., creating a market bound to reward their owners. Not such good news for tenants, though—or, as The Wall Street Journal summarized, “Renting is unlikely to get easier anytime soon.”The report, which was issued by Harvard University’s Joint Center for Housing Studies and the affordable-housing organization Enterprise Community Partners, focused on the growing number of U.S. households for whom rent payments present a ‘growing burden’ in terms of the percentage of income they comprise.According to the study, nation... 10/07/2015

Direct Response MailersThis is a form of direct mailing but usually includes a call for some form of action by the recipient such as visiting a web site, asking for a report, or a property description.  Very difficult for owners to engage in Direct Response Mailers to the public because of cost and a lack of target specific addresses.Door KnockingNot many For Sale By Owners ever knock on doors to promote their property.  For that fact not many real estate agents knock on doors either.  Yet, this has and will always continue to be a great way to develop relationships and introduce people to properties that are for sale.  Owners are very encouraged to knock on the doors of their immediate neighbors to give the neighbors a flyer that includes all the specifics of the property they are sell... 10/07/2015

At the beginning of any month, Metairie onlookers can find batches of fresh reports about national real estate market activity. Take October, for instance. We’ve just learned a bunch about what happened across the country. September’s numbers won’t be collected and analyzed for a while, but the fresh real estate market data for August is out, as well as July revisions. Since earlier findings are always being tinkered with as estimates are replaced with hard results, we also get improved readings from the earlier month.This latest batch of real estate market news was upbeat, downbeat, and, uh…sideways. Thursday was the first day in October, which was when CNN Money came out with some good old-fashioned cheerleading. “Americans went shopping for homes in August,” they headlined. The reaso... 10/06/2015

Tips for Selling Your HomeTelevisionTelevision is a hit-or-miss advertising opportunity.  There are real estate channels on which a lot of real estate companies market property for sale.  It is expensive and not what you would refer to as target marketing.  The use of television by real estate agents is more for brand awareness for the company and agent than it is to sell real estate.  It has been estimated that fewer than 5% of all sales come from television advertising.RadioRadio advertising is much like television advertising but far less effective.  Unless there is a talk-radio show that specifically addresses real estate, advertising on the radio is more for brand awareness than to sell a specific property.  Not recommended for owners trying to sell their own property. Direct Maile... 10/06/2015

                                                                Whenever an unplanned and unwelcome financial situation develops, a Metairie mortgage-holder can find him or her in the onerous position of being unable to keep up with the monthly home loan payments. If the unhappy situation continues long enough, the likely result is a foreclosure or short sale. In addition to losing the property, the impact on personal credit then takes years to undo. That means it takes that much longer for a consumer to acquire a new home and start to build equity again.Here as elsewhere, there were rafts of such Metairie mortgage defaults following the global financial meltdown. Even those who had no trouble servicing their area mortgages could have suffered when they found that falling property value... 10/05/2015

With October newly arrived, it’s a time of year when Metairie homeowners can breathe a sigh of relief; relax and take it easy. With summer behind us, most gardens require less attention. The demands harsh winter weather will make are off in the distant future— or are they?This year it might be prudent for Metairie homeowners to mentally remove a month or two from their home maintenance timetables. The reason comes in two familiar words (and they aren’t English): El Niño.According to the government’s NOAA climate forecasters, there is “an approximately 95% chance that El Niño will continue through Northern Hemisphere winter 2015-2016…” Since that is definitely Metairie’s hemisphere, they’re speaking to us.  They answer the question, “How strong is this El Niño now?” with, “it’s pretty st... 10/05/2015

The Metairie real estate listings consist of the lineup of Metairie homes that are currently “on the market.” They’re for sale. Offered to buyers. Available for purchase. “On the market” is a straightforward real estate term; end of discussion. So, you’d think that “off the market” should be equally unequivocal, and it would be, if it weren’t for “off-market,” with which it’s easily confused. And then there’s the fact that what actually happens after a formerly listed property goes off the market can result in a several different outcomes. Sounds like a dose of contradictory Metairie real estate jargon—but it can be sorted out with a little determined effort. Here goes: In real estate, off the market denotes a property that was listed in the past but currently pulled from the market. It... 10/04/2015