Nobu Hata
By Nobu Hata
An article recently came across my Twitterstream from Wired.com which, punditry (and ‘Granted, I live in Manhattan…’ caveat) aside, is a pretty good read.
Go ahead, it’s a short one, I’ll wait for you right here. (http://www.wired.com/magazine/2010/11/st_essay_ownership/)
Where my and the writer’s opinion splits is that to me, a home DOES have sentimental value. A house is something everyone connects with emotionally. A house becomes a home, a member of the family. The rentorship attitude is a copout – if I was a writer in New York City, I’d want everything on the cheap, without commitment too. But I digress.
Was it a horrible essay? No. But what it does is epitomize the current state of consumer confidence in home ownership, as does the 90 or so comments, many rebutting the article itself, and that’s the key to remember.
Our generation agent is working in a time of unprecedented backlash from both our buyers and sellers, and the media. We live amidst a “throwaway” and non-committal culture. Simply stated: Home ownership isn’t for everyone. But what I like saying is that everyone knows someone who wants to buy or sell. Naysayer aside, I’ll take a few of those folks sticking up for homeownership rebutting him any day.
Our job will be to find those 90 people; our client base, those buyers and sellers who see value in home ownership, and give them the service they want and need. So what do you say? How will y’all be reaching these people in 2011?
Nobu Hata is a sales associate for Edina Realty in Minneapolis, and a founding member of the Minneapolis YPN group, the YoPros. Visit his Web site at www.nobuhata.com.
Travis Broadwater
By Travis Broadwater
Even though the federal tax credits have expired, it is still wiser to buy now than rent. Our clients get a tax write off and build appreciation instead of throwing money away each month. Home prices are so affordable today it is a good time to take advantage of the buyer’s market conditions with low interest rates and an abundance of properties to select from. Buyers can find great deals on distressed short sales, foreclosure auction properties and REOs (real estate owned), including single-family homes, multi-family dwellings, townhouse, condos and commercial apartment buildings in all areas and price ranges.
If a large down payment is preventing your clients from buying, they can purchase an owner-occupied property (single-family home -4 units) with an FHA loan that only requires a minimum of a 3.5 percent down payment. However, if they are going for traditional financing or buying non-owner occupied investment property, then they will need at least a 20 percent to 30 percent down payment and good credit. If they have less than perfect credit, they may want to investigate seller financing or a rent-to-own program.
So the first decision your clients need to make is what type of property they want to buy and how they intend on using it. Intended uses include: Continue reading »
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