The Alternative Blog

Spring cleaning for your biggest investment.

noreply@blogger.com (Bobby Stevens) — Tue, 13 May 2008 23:05:00 +0000

Now that the days are getting longer and (kind of) warmer here in Eugene, it’s a great time to get outside and care for the exterior of your home – and not just for appearances sake. Curb appeal is one of the critical factors in creating desire when it comes time to sell your home, and deferring the maintenance chores below can end up costing you a lot more than giving up a weekend or two!

1. Get the gunk off (and out).
After the leaves fell in the fall you cleaned out your gutters, right? Well, most homes benefit from at least three cleanings – fall, mid-winter, and again in spring to remove storm debris. First get out the leaf blower and tackle the roof, then scoop the leaves (or if you live in the south hills, that thick carpet of doug fir needles) out of those gutters. If you don’t like heights, give me a call for qualified service people who can do the job for you.

2. Give your house a shower.
Plan the big wash when several dry sunny days are forecast – the hotter the better for quick, thorough drying. Before you start, trim back encroaching vegetation, keeping it at least one foot away from siding and trim. Plants are a potential invasion route for insects, and can thick foliage can stifle air circulation - promoting molds and rot. Use caution when spraying - pressure washers can do damage before you even realize it. Hire a pro, or do it yourself with a long handled brush, a bucket of suds designed for house washing, and your trusty garden hose. Be careful not to force water up under siding and take it easy around windows and doors – direct the stream of water down like the falling rain and you should be fine. This is the perfect time to inspect siding and trim for chipped, peeling, or chalky paint. If you find areas that need help, plan to touch them up yourself or hire a pro – the best painters book up early for the entire summer, so give me a call if you need a recommendation.

3. Check your deck.
Our seemingly endless wet winters can be particularly brutal to these large expanses of wood – now is the time to get yours in shape for summer grilling and outdoor entertaining. Clean debris out of the gaps between the boards to promote air circulation and prevent rot. (A drywall saw words great for this – but be careful!) While you’re at it check for protruding fasteners, cracked boards, wobbly railings, rot, or other damage and remedy these situations. Now it’s time to clean – avoid the pressure washer on a wood deck – the damage they cause can be unsightly and shorten its lifespan. Instead, use a stiff bristle brush and a non-toxic biodegradable detergent and/or wood brightener. After a good rinse and a couple of sunny days, apply a clear sealer or transparent stain.

Now that you’ve cleaned up your castle, lower the drawbridge and get out of there! Hike Mount Pisgah, tackle the Butte, visit our local parks, or head for the coast or the mountains to really get away from it all, and remember why we live in this beautiful part of the country.

Happy house cleaning,
Bobby

bobby@alternativerealtor.com
541 225-8081

What happens in Vegas…

noreply@blogger.com (Bobby Stevens) — Wed, 30 Apr 2008 06:52:00 +0000

With a 167% increase in foreclosures from 2006 to 2007, Nevada tops the list of the hardest hit states in the nation. Two Las Vegas Realtors have taken their show on the road in an effort to make a dent in the down market. Wayne Newton would be proud.

Sin City Realtors Barbara and Marshall Zucker noted that 40% of all home sales in their market were foreclosures. Seeking to help their clients find the bargains, they bought a bus, dubbed it the “Vegas Foreclosure Express” and begin offering tours of repossessed homes. They screen houses, select the best, and take their clients, 24 at a time, on ten minute tours of each property – the real estate version of speed dating. Along the way, they offer onboard counseling on finance and home buying. It would appear that they are raking in the chips - since February they have closed several deals and have over 26 offers pending. Operators have revved up to tap this market in other struggling states as well. Cesar Dias, the originator of the foreclosure tour, hit the road in Stockton, California in September 2007, bringing his brokerage back from the brink of bankruptcy.

In our local market we have much to be thankful for. Oregon ranked 22nd in the 2007 foreclosure rankings, and while the current inventory of Eugene homes for sale is about twice the average vs. one year ago, median sale price has only declined 6.1% since market peak in June 2007.

I’m not aware of any plans for a foreclosure tour in Eugene. Buyers are still buying (some getting great bargains). Sellers are still selling. The smart ones have taken care of their home's condition and hired a skilled REALTOR for help with presentation, competitive pricing, and a targeted marketing plan to attract the attention of qualified buyers in town and across the country. And hopefully, what happens in Vegas stays in Vegas!

Cheers,
Bobby

bobby@alternativerealtor.com
541 225-8081

Sources: Associated press, Fortune Small Business, Eugene RMLS

The importance of great photos (and plenty of ‘em) in selling your home.

noreply@blogger.com (Bobby Stevens) — Mon, 21 Apr 2008 16:54:00 +0000

No doubt you’re familiar with the cliché “a picture is worth a thousand words”. When it comes to marketing your home for sale, the right pictures could mean thousands of dollars in your pocket!

It is estimated that eighty percent* of home buyers begin their search on the internet, forming a first impression based on what they see. Photos do more than just show a potential buyer what your home looks like, they create desire. A desirable presentation of your home helps it stand out from the crowd and can generate a “buzz” in the market. When you create this buzz early in the marketing cycle you stand a better chance of receiving multiple offers for the purchase of your home. And multiple offers are the best insurance against price reductions and sale fall-through.

REALTOR’S® are required to provide a basic set of information when entering a home into the Multiple Listing Service (MLS), but anyone who has searched for homes knows that the quantity and quality of photos can vary greatly. To ensure that your home is presented so as to fetch the highest potential sale price, consider the following:

Choose a savvy Realtor – one who uses professional photography to support a diversified marketing strategy that presents your home in the best possible light.
Clean house - thoroughly tidy your home and yard before the photo shoot to minimize clutter. Clear the counters, store excess furniture, mow the lawn, rake the leaves, put away the garden hose, etc. For the ultimate advantage, use professional staging.
Let the light in – open the blinds and turn on all the lights. Your photographer can provide additional lighting for dark areas like kitchens and bedrooms.
Flaunt what you’ve got - get enough photos to satisfy potential buyers and motivate them to request a showing of your home. This means one photo of each room, more for larger rooms or special features, a great photo of the front exterior showing curb appeal (this is usually the money shot!) and at least one of the backyard.
Put it in motion – Virtual tours, panoramas, and video help to put the buyer in your home before they actually cross the threshold, and are great for highlighting features that make your home desirable.
Get it out there – the MLS listing and front lawn flyer box are just the starting point. A good realtor will not only market your home’s virtual brochure on their company website, but proliferate it to the best of numerous online real estate sites such as Craigslist and Zillow, getting your pictures in front of as many eyeballs as possible.

At Eugene’s Alternative, cutting edge marketing is just part of the care we take to help our clients achieve satisfying results. If you’d like to know more about using photography and other techniques to position your home sale for the best possible outcome, please drop us a line!

Cheers,
Bobby

bobby@alternativerealtor.com
541 225-8081

.......................................................................

*Source: National Association of Realtors

Market Action Update for Lane County 2008

noreply@blogger.com (Tawnya) — Sat, 19 Apr 2008 00:55:00 +0000

Here is a little info on the current market in our area...

March Residential Highlights
Looking at March 2008 compared with March 2007, the number of new listings decreased 9.5%. Additionally, the number of closed sales declined 29.1% and pending sales decreased 28.7%. See table above. At the month’s rate of sales, the 2,074 active residential listings would last 8.4 months.

First Quarter/Year-to-Date
When comparing market activity for January-March 2008 with the same period in 2007, new listings fell 1.5% (1,770 v. 1,796). Closed sales dipped 30.3% (643 v. 923) and pending sales decreased 27.4% (809 v. 1,309).

Appreciation
Comparing the average sale price for the 12 months ending in March 2008 with that of the 12 immediately prior, it appreciated 2.3% ($264,500 v. $258,500). Using the same formula, the median sale price increased 2.1% ($232,900 v. $228,000).

All information from Market Action March 2008 provided by RMLS

Tawnya Madsen, Broker

Tawnya@AlternativeRealtor.com

541.729.2350

Living Free on Residential Investment Propeties...

noreply@blogger.com (Dave Koester Principal Broker) — Fri, 18 Apr 2008 05:17:00 +0000

I enjoyed this thought today.

If an investor owns 10 properties and puts them on an amortization schedule such that one property is paid off every year the investor can refinance that property on a 10 year amortization schedule and live comfortably for the rest of their life...(Living for Free...wow)

Here is the really fun part...that income is tax free!

Now...lets go get those properties...(We know of a screaming deal on a duplex that is not yet on the market..call quick)

...I bet you know that loans with shorter amortizations schedules offer the benefit of lower interest rates, significantly less interest paid and a pay-off date visible from the starting line.

Summoning the cash needed to make these investments cash flow positively can be a short term drain that pays off in the peace of mind of owning a self sustaining investment.

Dave

dave@alternativerealtor.com

541-302-5999

Charming Eugene,Or. home

noreply@blogger.com (pat) — Wed, 09 Apr 2008 22:38:00 +0000

What is a "FSBO"?

noreply@blogger.com (Dave Koester Principal Broker) — Wed, 09 Apr 2008 22:17:00 +0000

"FSBO" is an acronym for: For Sale By Owner. In the real estate world you might hear them referred to phonetically as a "Fizbo". For Sale by Owner properties are easily found in craigslist.com under Oregon, Eugene, Real estate for Sale. Click here

Many sellers will attempt to sell their properties themselves prior to seeking professional representation. Most are open to compensating a buyer's agents if a buyer is professionally represented. (This means that there is often no cost to a buyer to seek professional representation)

Eugene's Alternative represents many buyers in FSBO's transactions every year.

Our clients are counseled to have Eugene's Alternative make the first contact with the seller to build the relationship, assess the story of the property and schedule a viewing time. Eugene's Alternative then reports back to our clients with the information and timing. Having Eugene's Alternative make the 1st contact is important because we have a high level of success negotiating buyer's agent compensation paid by the seller when Eugene's Alternative makes the 1st contact.

The sale fall-through rate without a professional representative is very high. Some of the qualities that professional representation brings to a transaction are:

Safety - All agreements are reviewed by a licensed Broker who has experience and understands the requirements of a legal real estate transaction in the state of Oregon.

Professional Perspective - There is nothing more dangerous to a transaction than two confused and emotional parties trying to work through a difficult negotiation alone. When trust between the buyer and seller is compromised the transaction's environment can become toxic. Having a smooth handed professional in the middle, listening, reacting to, or leading parties through a tough spot can make all the difference to the success of a sale. A good Realtor can take the pressure off of the individuals and bring smooth & quick resolution to issues that can otherwise progress to a danger.

Quality Team Members - Eugene's Alternative brings years of experience with quality people in the real estate community. We have developed relationships with outstanding folks in these fields and more:

Mortgage Finance
Title and Escrow
Home Inspection
Pest and Dry Rot Inspection
Law
Surveying
Licensed Contractors of all kinds (Building, remodeling and repair)
Architecture
Landscaping
Staging

Experience - There is no substitute for experience. Understanding the landscape of a negotiation and transaction can prevent or cut short problems before they become a threat.

David Koester
Pricipal Broker / Owner
Eugene's Alternative
302-5999
dave@alternativerealtor.com

Pets in Cottage Grove

noreply@blogger.com (John Baumann) — Wed, 09 Apr 2008 19:26:00 +0000

Question: How many dogs can I have at my house in Cottage Grove?

Answer: According to the City of Cottage Grove, no more than three dogs per household are allowed. If you want more, you must apply for a kennel license. Hope this helps.

John Baumann
654-2060
john@alternativerealtor.com
Eugene's Alternative

First Impressions

noreply@blogger.com (John Baumann) — Sat, 29 Mar 2008 19:22:00 +0000

QUESTION:
We are about to sell our home. Friends suggested that we invest time and money to improve its "curb appeal." The home has its original entrance and landscaping. Do you think updating the front yard will help sell the house? Is there a rule of thumb we should follow in determining a budget for exterior updates?

ANSWER:
Thanks for your question.

You get one chance to make a first impression. If a buyer's emotional reaction to your home is positive, that equals more money on your closing statement. Most buyers, when presented with a property that leaves them feeling that they have to start by remodeling or entering into "heavy project mode" will discount their offer or simply buy a different property that does not have that requirement.

First impressions are no longer made in front of the home. Virtual tours and photographs on the internet are a buyer's first introduction to a property over 80% of the time. This is why Eugene's Alternative uses only professional photographers and virtual tours for all of our listings. It is also why home sellers need to think about more than the perspective from the "curb" regarding how your home is viewed for the first time.

As the market becomes more competitive for sellers, investing in the condition of one's home is no longer an option to achieve a timely sale at or near the asking price. Paint and landscaping choices are always the best bang for the buck for a positive exterior presentation. We are quick to recommend new flooring, light fixtures, plumbing fixtures, and counter tops, for a positive interior presentation. Kitchens and bathrooms are the places to start on the inside, and the front entry is the place to begin presentation changes on the outside.

There is no rule of thumb regarding budget as different properties warrant different investment levels based on their needs, price point potential, and their direct competition.

Please contact us with any additional questions.

all the best,
John & Dave

1031 Tax Deferred Exchange

noreply@blogger.com (Dave Koester Principal Broker) — Sun, 09 Mar 2008 20:19:00 +0000

QUESTION:
Can inherited property, such as a home that was once a
primary residence, be used in a 1031 transaction?
And, if so, should the property have remained vacant,
or produced income (rental) following inheritance?

ANSWER:
A 1031 Tax deferred exchange is a transaction that allows a party the ability to reinvest their capital gain in a "Like Kind" property within certain time limits and rules without creating a taxable event. (read: really cool tax law)

A CPA and a licensed 1031 facilitators are good team members with your Realtor to see if this type of option is a good one for you.

Some basic rules of a 1031 include the need to identify up to 3 potential destination properties within 45 days of closing your initial sale transaction and an the absolute of having all purchase transactions closed within 180 days of closing the transaction.

It is also required that the acquisition price of the exchange property or properties exceed the sale price of the property that is being exchanged.

The 1031 exchange must be disclosed in writing within the connecting transactions.

In an exchange all money must flow through a licensed exchange facilitator.

Eugene's Alternative is versed in the ways of the 1031. We would be happy to consult with you further to see if this a good option to utilize in realizing your real estate goals.

Dave

Welcome To The Alternative Blog of Eugene's Alternative REALTORS

noreply@blogger.com (John Baumann) — Tue, 04 Mar 2008 16:50:00 +0000

This Blog is designed to provide a public forum for any questions related to Eugene and Eugene Real Estate. All queries will be answered as soon as possible. This Blog is administered by a licensed real estate broker. What do you want to know?

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