Countering Objections from Buyers and Sellers 112211

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Transcript of Countering Objections from Buyers and Sellers 112211

Slide 1


Countering Objections:

I think Ill wait to buy/sell.


Real Estate as an Investment Since 2000

Source: MSN / Case ShillerGraphic courtesy of KCM BlogIs it really as bad as everyone says?You be the judge.


What the experts say about buying . . .

Its an excellent time to buy a house, either to live in for the long term or for investment income.- October 15, 2011

Now could be the best time in history to buy a home.- October 3, 2011


Market InsightsMany buyers who waited for rock-bottom prices know that now is the time to buy.- November 1, 2011What the experts say about buying . . . It is important for America to realize that when it comes to housing, now is the time to buy.

- October 2011


What the experts say about buying . . . Its hard to see the possibility of losing on a home purchase right now with these mortgage rates.

- October 24, 2011Capital EconomicsThe previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.- October 12, 2011


Ill just rent until things get better.


Ill just rent until things get better. Sale Price: $150,000Mortgage: $142,500Interest Rate:4%Term: 30 yearsPayment: $680.32November 2011 (today)November 2012Sale Price: $142,500Mortgage: $135,375Interest Rate:5%Term: 30 yearsPayment: $726.72Assumes sale prices will dip 5% over the next 12 months Assumes interest rates will rise 1% over the next 12 months based on NAR economic projectionsMonthly Payment Difference: $46.40Difference Over Life of Loan: $16,70412Still think it pays to wait?


What the experts say about selling . . .

While foreclosure activity in the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.- October 11, 2011


At this point, we maintain the expectation that a definitive bottom will not occur until 2012.

- October 11, 2011

The housing market has yet to demonstrate the fundamentals necessary to overcome a seasonal slowdown over the next 6 months, which drives our projected drop in prices of 3.2% through Q1 of 2012.- October 6, 2011What the experts say about selling . . .


What the experts say about selling . . .

According to Fiserv, a financial analytics company, home values are expected to fall 3.6% by next June.- October 31, 2011

The glut of houses in the process of, or likely to be in, foreclosure is depressing prices even further. Prices are expected to drop another 5% over the next few months.- October 14, 2011


What the experts say about selling . . .

Home prices could dip 6% to 7% before hitting rock bottom in early 2012, according to analysts at JP Morgan Chase.- September 9, 2011Home prices could fall up to 7% by the end of the 2012 1Q, Barclays Capital said in a report to clients.

- October 14, 2011


Ill wait till Spring until the market gets better.Sale Price: $150,000Expenses: $10,500Net: $139,500November 2011 (today)April 2012Sale Price: $145,500Expenses: $10,185Net: $135,31521Difference: $4,185Assumes a 1% transfer tax and a 6% selling commission.Assumes a 3% reduction in market value over the next 6 months.1Still think it pays to wait until the market gets better?


Chasing the market doesnt pay!


60 DaysTrue Market ValueDecreasing by 5%

60 Days

Listing expires and Seller is still not any closer to selling their home because their price is still too high

60 Days

Seller wants to test the market

Seller agrees to reduce the list price

Seller reduces price again and is now priced at market value from 120 days ago


Tom Blefko is a real estate broker with over twenty-five years experience in all facets of the residential and commercial real estate industry including sales, leasing, office management, property management, development, marketing, construction, brokerage and training.

During the course of his career, he has successfully closed hundreds of real estate transactions as well as provided fellow agents with valuable advice during contract negotiations and settlements. About the Author & Presenter

Prudential Homesale Services Group4309 Linglestown RoadHarrisburg, PA 17112Office: (717) 657-8700Cell: (717) 587-6600Web: www.prudentialhomesale.comBlog: