The LaBuda Advantage Blog

The Importance of Feedback from Buyers

We make a big effort to obtain feedback from the agents who show our listings and most of the time we are able to get it. We think feedback is important for these reasons: To find out if there is any real interest in the property To give the showing agent an opportunity to ask us questions or voice any concerns that we can address immediately to get a reading on price and condition in order to make any necessary adjustments. A showing agent usually does not give a full critique of the home. He may have shown 15 houses that day and may not remember the home in detail. We always attach a photo of the home to the feedback request to jog the agent's memory. Here are the most common feedback comments and what they really mean: Agent: "The buyer thought the house was too small." Translation: "The buyer found larger homes for the same price. Agent: "The buyers decided not to go into the house." ..(read more)

Yes, houses are still selling!

by Nicki Campbell There can't be anyone out there who isn't aware of the downturn in the housing market. It's everywhere -- in the papers, on the news, on the morning TV shows, on the evening talk shows, on the radio, in the conversations at the water cooler -- and most of us are pretty tired of hearing about it. In fact, that's one of the many great things about the Olympics. For two whole weeks, the focus is on the exciting events in China and off the housing situation! Of course, all of this has many people scared. We get questions all the time about whether or not it's possible - or wise - to sell their home in today's market. There's no simple answer to that question. Yes, the market is slower and the price of most homes has declined a bit, although not as much in Columbus as in other markets. We have remained fairly stable and not experienced the double digit declines of Florida, California, Las ..(read more)

Vacation Home news!

by Jo-Anne LaBuda Hey Columbus! It's a great time to buy. Is it really? You bet! If you have been thinking of buying a second home, a recreational property or a retirement home, it is better than a great time!!! I have been talking recently to Realtors and owners parts of the country that deal in vacation or retirement properties. They are ALL telling me that the prices are great in their areas for buyers. Lake property, especially condominiums in the Lake Erie area, are really well priced right now including lakefront and lakeview. Looking for a second or retirement home in Florida or the Southwest? Interest rates are low, there are terrific tax benefits to owning a second home and the prices are incredible. I know some great Realtors who would love to help you find that dream second home or retirement place. Give me a call and I'd be happy to refer you to them. Or, if you'd like to speak with a national lender about ..(read more)

More about real estate auctions!

In this buyer's market, it pays to evaluate new strategies as a means to get properties sold. This is where real estate auctions can offer an alternative to the traditional method of selling real estate. Often, auctions are used as a last resort after a property has languished on the market for months. This usually results in a lower sale price since the home has the stigma of being over-valued or undesirable. When auctioning is used first, the property has not been subjected to negative market conditions and a true market value can be established. The seller can protect himself by setting a minimum bid and the buyers can establish the property value. Sometimes this will exceed the seller's expectations. Here are some facts about real estate auctions: They are generally conducted "as-is, where-is". Buyers are encouraged to have a home inspection in advance of the auction, but with no ..(read more)

The 80/20 Rule in Real Estate

by Jo-Anne LaBuda Many people have heard of the 80/20 rule. It is usually applied to salespeople, but it also applies to Realtors. 80% of the business is done by 20% of the Realtors. Another 80/20 rule to follow as a business person is that 20% of your time spent on what is important to your business will reap 80% of your success. Today’s real estate market for sellers also follows an 80/20 format. 20 percent of the homes are “in the market” and 80 percent are “out of the market”. What does this mean? Homes are still selling despite what the newspapers and nightly news would lead you to believe. The key is though, to be in the 20% that are “in the market”. These homes in the 20% are conditioned superbly and priced to sell. "Condition" refers to sparkle and updating. Every light fixture, horizontal and vertical surface should ..(read more)

Keller Williams Offers Real Estate Auctions

We are very excited to report that Keller Williams Capital Partners has joined with Garth's Auctioneers and Appraisers, Ohio's oldest premier auction firm, to offer real estate at auction services. Garth's is an international auction firm -- one of the top fifteen in the country -- and is renowned for impeccable customer service and unparalleled integrity and expertise. Although the company has specialized in fine art, antiques, collectibles and decorative objects from estates around the country, Garth;s has offered real estate at auction on occasion -- helping to sell about one property per year by auction. Now, however, Amelia Jeffers, president of Garth's Real Estate Division, says " We have been watching the real estate market closely and, as the general public has become more familiar and comfortable with the auction process, we see this as a prime opportunity to move into this sector full force. couple the timing with an ..(read more)

Do you need representation with "new builds"?

by Lynn Nadler When looking for a new home, many buyers will start by looking at model homes. Often, the buyers will fall in love with a particular model and decide to buy. They go into the office, meet with the sales rep and begin to design the "home of their dreams". Only later do they think about what they need to do to sell their current home. Recently, we have met with a number of potential sellers who are in contract on a "new build" and, consequently, need to sell their current home quickly. They did not meet with an agent to help represent them in the new build and they did not meet with an agent prior to making the decision to to move. Why is this a mistake? First, when a buyer meets with a sales rep at the builder's office, even though that person may be very helpful and nice, that person represents the builder and not the buyer! Their concern is selling a home and helping the builder reduce inventory; their ..(read more)

Spoiled by Low Interest Rates!

by Erin LaBuda In case you haven't heard --- interest rates may be on the rise. Who am I kidding? Of course you've heard all the rumors! The media is having a field day with the housing slump and mortgage "crisis" and the hike in interest rates only gives it something else to hype. As a 30-year-old "Gen X-er", the recent very slight upswing in interest rates and scary talk about investing in real estate seem a bit excessive. But, then again, I am in the real estate business, so naturally I would be resistant to the media fueling a downturn in a market that was going to have to turn down or stall (in some markets) at some point. However, I do see that my generation and those ahead of me have been spoiled by the robust housing market of the early 2000's and the unbelievably low interest rates we have enjoyed in recent years. It's hard to imagine people griping at the prospect of 6.75% rates! I'm sure everyone has heard stories ..(read more)

The Importance of "Staging" in Selling Your Home

by Lynn Nadler With the current real estate market being what it is, aside from pricing your home competitively, what else can you, as the seller, do to help ensure a quicker sale? You can "stage" your home. Staging is a theatrical term which is appropriate in this context because, as a seller, you want your home to have a dramatic effect on the buyer from the moment he or she steps out of the car. This is known as the "wow" factor and its significance cannot be overstated. This dramatic effect can be created through the use of color, placement of furniture, accessorizing, lighting, and scent. The way a seller lives in the home and the way he or she presents it to potential buyers can be very different. One of the biggest tasks faced by sellers is getting rid of their "stuff". It's very unusual that a seller does not need to purge his house of extraneous items. Sometimes it's necessary to rent a storage ..(read more)

Why I Love the Cubs...

by Jo-Anne LaBuda I have been a Chicago Cubs fan since I was three years old. I won't say how long ago that is as everyone will figure out how old I am. We lived on the near north side in a second floor flat near the El tracks. I don't remember much about the apartment, but I sure do remember the TV set. The screen wasn't as big as the computer screen I'm typing on right now. I vividly remember having to take a nap every afternoon whether I was sleepy or not. That was in the days of no air conditioning, so the windows were open so we could get some of the breeze that came in off Lake Michigan. I remember lying in bed and hearing Jack Brickhouse, the Cubs announcer. I also remember the song from the Hamm's Beer commercials, "From the land of sky blue waters..." My dad would sit in the living room and watch the games on Saturday and Sunday afternoons. It just killed me to have to take a dumb nap when all ..(read more)

MORE OF JO-ANNE'S FAVORITE BOOKS!

More of Jo-Anne’s list of books that will help you reach your goals in life and business: Stuck in the Middle – Barbara McVicker & Darby McVicker Puglielli- Shared Stories and Tips and Caregiving Your Elderly Parents The 80/20 Principle – Richard Koch – The secret to Success by Achieving more with less Teamwork makes the Dream Work – John Maxwell – Together we can do the impossible The Difference Maker - John C. Maxwell – Making your attitude your greatest asset Plain Talk About Leadership – Robert L. Bailey -Silver Bullets for Success The World is Flat – Thomas L. Friedman - a brief history of the twenty-first century The Age of Turbulence – Alan Greenspan – Adventures in a New World The Millionaire Real Estate Investor – Gary Keller - A map to real estate investing Work Like You’re Showing Off – Joe Calloway ..(read more)

BEWARE OF HOUSEHOLD ODORS!

by Nicki Campbell Although much has been written about staging homes, it usually revolves around how the property looks. Furniture arrangement, de-cluttering, cleaning, neutralizing, yard maintenance, etc. -- all work together to make a home attractive to potential buyers. And in this buyer's market, that is doubly important. Today I want to address a less commonly mentioned subject -- smells. No matter how beautiful a home is nor how artfully staged it may be, if it doesn't smell fresh and clean, buyers will be turned off by it. Certain smells evoke warm memories-- think of apple pie or coffee or freshly baked bread. Other smells cause you to recoil -- rotting food, urine, dirty dog odor -- and make you want to leave the premises as quickly as possible. If you are getting your home ready to sell, it is extremely important that you make sure it looks and smells wonderful from the moment it goes on the market. You are probably very accustomed to ..(read more)

THE MOST PRODUCTIVE SINGLE OFFICE BROKERAGE IN CENTRAL OHIO!

by Jo-Anne LaBuda Keller Williams Capital Partners Realty, according Business First, is the most productive single office brokerage in the Columbus Board of Realtors. KWCP closed 1551 homes in 2007. The only two real estate companies in Central Ohio who closed more homes in 2007 respectively have 39 and 13 offices vs. the one office of Keller Williams Capital Partners. Keller Williams Capital Partners was the first Keller Williams office to open in Ohio. It opened its doors in August 2002. It has attracted almost 160 highly productive and professional agents since that time. Keller Williams as a company is an agent-centric company who has built its base on the highest level of real estate education available. This education base has everything to do with the higher level of professionalism, knowledge and production of its agents. For more information about Keller Williams, go to www.kw.com or for more information on Keller ..(read more)

Soccer Rocks!

The second annual "Soccer Rocks" sponsored by Keller Williams Capital Partners Realty will take place on Sunday, June 29 at the Crew Stadium from 1 to 4 p.m. All proceeds benefit Capital Partners Cares, our charity which supports numerous charitable and community-focused initiatives. Soccer Rocks is a half day clinic for children ages 6 to 14. Participants will have the opportunity to train with the pros from the Crew team as they work to enhance their individual and team skills. There will be a question-and-answer session as well as a photo and autograph session with the players. Door prizes will be awarded throughout the day to participants. In addition, a silent auction will be held for parents and children to bid on. Last year, this event drew lots of young athletes from the Columbus area and was a big success. The cost for Soccer Rocks is $25 per child. All players must bring their own ball to the stadium. To sign ..(read more)

The Last Month of the Columbus Symphony Orchestra?

by Nicki Campbell On Saturday night, my husband, daughter and I went to the Ohio Theater to see -- and hear -- the Columbus Symphony. As it turned out, this may be one of the last concerts the orchestra may ever perform due to the financial issues it is facing. As most people in Columbus know by now, the musicians and the Board have not been able to come to terms and the Board has cancelled the Picnic With The Pops season. Although the Dispatch said in an editorial yesterday that the musicians need to face reality and agree to the Board's terms, it's hard to fault them for rejecting a pay cut of more than 40%. Most of us would have a hard time living on that kind of decrease in our salaries. The Saturday night concert was wonderful. The orchestra played works from Beethoven and Mendelssohn as well as a Schumann concerto with an oustanding guest pianist. The Ohio Theater was full and the audience was extremely enthusiastic, no ..(read more)