Selling a house? What single word in your ad can add thousands of dollars to the selling price? Do you know which words work best? Do you know that some commonly used real estate ad words can backfire and harm your sale opportunities?
There are a lot of standard phrases used in real estate ads. Just because you see a phrase used a lot doesn't make it a winner. Some of those common phrases, like "motivated seller" can work against you! Are you a FSBO? That translates to "For http://www.viewazhomes.com/ Sale By Owner", pronounced "fizz-bo". Do you use a real estate agent? Either way, you need to pay attention to how your home is marketed. The words chosen for your ad and flyer's can lure in prospects or can turn them off! A real estate agent's experience can be valuable in marketing your house. But how about adding a little scientific research? Paul Anglin, a professor at the University of Guelph in Ontario Canada is also a real estate economist. Professor Anglin led a study in two counties in Ontario to study the effect of real estate ad phrasing on sales price and time on market. The results showed that some common words had a demonstrably positive effect on selling price, and shortening the time to sell. The surprise, to me, was that some commonly used words can get in the way and cost you money! What's the magic word? One of the words that can put more money in your pocket is "beautiful". The study showed that using the word beautiful scored an additional 5% in the resulting sales price. That works out to $15,000 on a $300,000 house. I don't know about you, but my house is beautiful! What are some of the other words that scored positively and negatively in the study? ___________________Words that sell____________________ Some words strike a positive note with today's buyer. Here are some words that have shown a positive effect: Curb appeal Move-in condition Landscaping Granite Gourmet Golf must see __________________Words that can fail__________________ Some good sounding words can double-cross you! Here are some commonly used ad words and how they can be misinterpreted: Motivated seller - loosely translated as "I'll take less money so low ball your bid" Good Value - loosely translated as "It may not be much, but it's a bargain." As-is - loosely translated as "It's a mess and we can't do anything with it, are you dumb enough to try?" Other words and phrases that can work against you: must sell good value starter home vacant handyman special motivated __________________A note of caution___________________ It should go with out saying that the words you use must be honest choices. If it's a dump, then the word "beautiful" will get a snicker, not a sale. If you use "curb appeal" then the house better look good as the prospect drives up and gets their second impression. You ad is their first impression; and it should be as good as you can make it! Acknowledgements Professor Anglin's study was covered in a news release that found it's way into several major newspaper articles. I saw the study result first in an article written by Ann Brenoff in the LA Times and reprinted in the Arizona Republic. Other interesting articles on real estate sales https://hubpages.com/living/Real_Estate_Ads
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By David Randall
| NEW YORK NEW YORK Even with a good salary as a data scientist at a San Francisco technology firm, Yang Guo, 30, knew he couldn't afford a home in the Bay Area, among the priciest U.S. markets. He still wanted to own property in addition to stocks, however, and soon found a way to buy cheap rental houses in faraway cities - and to outsource the associated hassles to HomeUnion, a three-year-old startup in Irvine, California. The firm is among a small crop of new companies, including competitors Investability and Roofstock, that offer ways to buy, renovate and manage properties in markets that command relatively strong rents compared to their low home prices. The risks remain the same as any landlord faces, from vacancies to broken appliances to the potential for a rent- or home-price downturn. And using such services places a lot of faith in young companies with short track records. But the firms, launched after the housing crisis, say they can take much of the worry and work out of owning out-of-state rentals, for fees that typically run from 7 percent to 10 percent for property management and 3 percent for acquisition. Their clients usually buy one or two homes to supplement their incomes and investment portfolios. The companies are pulling in money from clients in costly coastal markets that is boosting demand and home prices in the lower-cost cities they target. "In the last 12 months, I've seen more cash buyers from California than I've ever seen in my career, and I've been doing this for 25 years," said Anne Callahan, a real estate agent in Cleveland, Ohio, where the average rent for a single-family home is up 4.2 percent over the last year, according to Zillow Research. Earlier this year, Guo bought and fixed up a small home in the suburbs of Birmingham, Alabama that he found through HomeUnion. He purchased another home in the suburbs of Columbia, South Carolina - spending about $60,000 on the pair. Now, from his apartment in San Francisco's trendy South of Market neighborhood, Guo collects monthly checks from tenants he has never met in properties that he has never seen, all located more than 2,000 miles away. "There's too much risk with buying property in the Bay Area," Guo said. "As long as the cash flow is coming and hitting my bank account, I basically don't care about seeing them in person." Buyers like Guo are attracted to less glamorous regions where home prices and rents have risen at modest rates in the housing recovery. They're eyeing steady income rather than rapid home-price appreciation. In suburban Atlanta, the average landlord of a single-family home reaps a 25.8 percent gross annual yield, a measure of annual rent divided by median sales price, not including other potential costs, according to real estate data firm RealtyTrac. That compares with just a 3.4 percent yield in the San Francisco Bay Area, where the median home price was $675,000 in August, according to data provider CoreLogic. "It's all people from the coasts coming to us and saying, 'We want to find a way to buy properties out of state,'" said Don Ganguly, the chief executive of HomeUnion. LEARNING TO BE A LANDLORD Most homes purchased through the firms go for between $50,000 and $150,000, the companies said, or about typical for first-time home buyers in the same markets. Florida has long been the most popular state for out-of-state investors, in large part because of its beaches, but lower-priced states such as Georgia, Tennessee, and Ohio are emerging as destinations for buyers from beyond their borders, according to RealtyTrac. For a graphic showing top markets for out-of-state landlords, see: tmsnrt.rs/2dvEq7l While these investors have identified a real opportunity, their inexperience and lack of local market knowledge can lead to some mistakes, real estate agents said. "You see these people coming from California and what I like to call 'yuppie-ing up a place,' but they don't realize it's not in the best area because they didn't do their homework," said Tony Kazanas, a real estate agent in Cleveland. Guo, the San Francisco investor, had no experience as a landlord and is already realizing that it is not as simple as he imagined. His property near Birmingham - in a metro area whose 14.4 percent vacancy doubles the 6.9 percent average nationwide - sat empty for a few months before he landed a tenant. The high cost of property insurance, meanwhile, is making him wary of buying in areas susceptible to hurricanes and other natural disasters. There are signs, too, that the rental industry is cooling off. After the housing crash, hedge funds raced into beaten down markets including Las Vegas and Los Angeles, buying up large blocs of single family homes to rent out. But some institutional investors are now eyeing an exit strategy. Blackstone Group LP's Invitation Homes announced in July that it expects to sell about 5 percent of its about 50,000 homes to current renters. In addition, while U.S. rents have risen by an average of 4.1 percent since 2010, average rents in New York, San Francisco and San Jose fell in the third quarter for the first time during that period. The decrease in expensive markets could presage broader weakness rent prices nationally. BUYING WITH RETIREMENT FUNDS Many investors still see a long-term play. They are turning to self-directed individual retirement accounts, which allow investors to buy property and let their rental income build tax-free as long the home is kept for investment, not personal use. Some buyers use their IRAs to pay cash for rental properties, but others get mortgages from niche lenders that offer them on properties held in retirement accounts. "Self-directed IRAs are becoming a more critical piece of property sales as an investment," said Dennis Cisterna, chief revenue officer at Investability. Major asset management firms like Charles Schwab and TD Ameritrade do not allow account holders to buy property directly using their IRAs. Smaller firms such as Oakland-based The Entrust Group, which manages about $2.2 billion in assets, say that about a third of clients use their self-directed IRAs to buy real estate, with Kentucky, Alabama, and Arizona among the most popular markets for California-based clients. Guo, the San Francisco investor, used cash savings and took out a mortgage on each property. The monthly notes for both houses total less than what he pays in rent in San Francisco, he said. He takes some of out every paycheck and earmarks http://viewazhomes.com/ it for real estate, hoping to build a portfolio of at least 10 rental properties for less than what it would cost to buy a single home in the Bay Area. "There's nothing like the competition that you see in San Francisco," he said. (Reporting by David Randall; Edited by Dan Burns and Brian Thevenot) http://www.reuters.com/article/us-usa-housing-investors-idUSKCN1271FL?virtualBrandChannel=11563 4 Ways to Get Hair Dye Stains Out of Carpets
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We move next to the fact that there are still flash flood emergencies in parts of the southwest tonight. The images are pooring in including this one from southern utah. Ginger zee tells us this flood was more than 40 miles away from the storm that caused it. Reporter: Surging through the desert. Flash floods made for a dramatic weekend under water in the southwest. At least 14 people had to be rescued in arizona. Plucked from raging waters debris filled and up to four feet deep. In tuson, three children were playing in a river bed when a wall of water came at them. If it's not raining where you're at, but it's raining back in viewazhomes the mountains, water is going to be down here in 20 minutes, half an hour. Reporter: In the desert, rain can fall in the mountains. And it has nothing to absorb it. It keeps rushing downhill. Sometimes becoming a wall of water full of debris. Just like this video in utah. That's the front edge of something called a dry wash. The front of the flood starts to get clogged up with debris. Reporter: Six hours after it had rain 40 miles north, the deep, dark mess full of bushes, mud and trees attacks. Some parts of the desert southwest will still see heavy rains in the next 48 hours. This transcript has been automatically generated and may not be 100% accurate. |
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