Jason Kudary's Traverse City Real Estate Blog

Jason Kudary

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Displaying blog entries 21-30 of 57

A Must Read for Home Buyers & Sellers!

I recently read this great article published by Randy Eagar, a real estate educator/trainer and contributor for BrokerAgentSocial, a network for real estate professionals.  The article, published on January 23, 2009, is directed toward Realtors, but I think it's important for home buyers and sellers to read as well...

Have We All Lost The Ability to Think For Ourselves?

Every time I read the paper or listen to the news, I get mad.  Really mad.  In the last 30 days, the New York Times published the following headlines: 

“Plunging Housing Markets . . . Down Again”

“Home Prices Suffer Record Monthly Drop”
“Bank Closures at All Time High in 2008”

“Credit Crisis Waves Roll On”
“Growing Market in Foreclosures”
“Foreclosure Rates Show No Sign of Slowing”
“States Unemployment Funds Run Low”

And the bad news goes on and on, causing panic and fear until we become our own worst self-fulfilling prophecy. Here’s my beef.  It's media hype.  No it's worse than media hype.  It's a vast media distortion, used to sensationalize and sell the news.  It's not the first time the media has done this, but now it has hit close to home.  Close to your home, close to your client's home and your livelihood.  The result is that the American homebuyer is naively buying the lie and hesitating to buy that home they need. 

Why? Because, like me and everyone else who reads the papers, watches it on the TV and hears it on the radio, we think that just because the mainstream media says it, then, by golly, it's gotta be true.  Pundits know that if they repeat anything long enough, people believe it. 

Well I’ve got a few surprising facts here that were shared in a speech given by my good friend Utah Lieutenant Governor Gary Herbert.  He and I worked together years ago to establish the Utah Chapter of the Council of Residential Specialists.  OK, here's what he shared with us:

“Bank Closures at an All Time High in 2008”. Hogwash!

·         In 1989 there were 1,004 bank closures.

·         In 2008 there were 30 bank closures

  • On average there are 94 bank closures per year

“Foreclosure Rates Show No Sign of Slowing”. Baloney!

  • During the Great Depression Foreclosure Rates were 50%
  • Nationally today our Foreclosure Rates are 3% (1.4% in Utah)

 “States Unemployment Funds Run Low”. Ridiculous!

  • During the Great Depression Unemployment ran at 25%
  • Nationally today our Unemployment is 7.2%

 

Are times right now bad? Yes. Do we have a shaky market? Yes.  But FDR's famous statement applies:  "The only thing we need to fear is fear itself."  It's time to start looking at our glass as 93% full rather than 7% empty. We need to look at putting 15-20% down payment and say what’s wrong with that? That's been a standard in real estate for years - a safe standard.  We need to look at qualifying procedures and make sure that we are selling homes to people who can afford them. 

We are the grass roots of the economy, and we can make a difference. We can take it back. All we need to do is to tell our buyers and sellers the truth about what is going on and stop the panic. If there is insanity going on it is in the pundits that look for all the bad news to make sensationalism sell their message.

Our message should be: "America is good. America is strong. America is proud!"

Thoughts of Warmer Weather

In these 'dog days' of winter, I really begin to start thinking about warmer temps and more plentiful sunshine!  If you're looking for an affordable spot to enjoy summer fun on Lake Leelanau, check out my listing on the corner of S Lake Leelanau Dr and Park Rd in Bingham Township.  This vacant, wooded parcel is just across quiet Park Rd from Bingham Township park with a sandy beach for swimming and the public boat launch at the end of Bingham Rd is only 1.5 miles away.  The entire 23+ acre parcel is available or you can purchase a 1.5-acre piece, a 7.1-acre piece or a 14.84-acre piece.  Just need a place to store your toys?  Township will allow you to build an outbuilding here without having to build a home too!  A great place to enjoy summer fun (or ice fishing and snowmobiling if you love the cold and snow too!).

Traverse City Real Estate - Jason Kudary Real Estate

Important Internet Statistics

The latest National Association of Realtors (NAR) report on home buyers and sellers shows the ever increasing role that the internet plays in searching for a home.  The study included persons who purchased a home in the 12 months ending in June 2008 and here are the results NAR found:

In the 'just starting to look' phase:  33% went to the internet first

In the 'seriously looking for a home' phase:  87% began with the internet

32% of buyers ultimately found the home they purchased on the internet

Overall, 99% of the buyers found the internet 'somewhat useful' in their search and 81% said it was 'very useful'.

As the internet has become increasingly more important, I continually strive to keep my website as technically up-to-date and user friendly as possible.  Both my website and our company website syndicate with nearly 50 different websites including Zillow, Trulia, Craigslist, Yahoo, Google and many other popular sites.  Our sellers can be confident that they will have the ultimate in internet exposure and buyers who visit my site have access to a variety of helpful information, including access to all area MLS listings.  Thank you for visiting and if I can be of any further assistance to you, please don't hesitate to contact me!

Traverse City Real Estate - Jason Kudary Real Estate

Happy Holidays

Wishing everyone a happy, healthy and safe holiday season and very best wishes for the New Year!  I am looking forward to a great 2009 and helping you with all of your real estate needs.  Interest rates are at their lowest point in years and there are many great opportunities out there.  So let me know how I can help and Happy Holidays!

Traverse City Real Estate - Jason Kudary Real Estate

New Look

My website just got a facelift!  All of your favorite features are still available...searching the entire MLS, viewing my featured properties, receiving new listings automatically by email, obtaining a value for your home or property, informational buyer and seller tips...all with a fresh look and a more user-friendly design that makes it easier to navigate.  I hope you enjoy browsing through the new site.  If you have any questions or if there's anything I can help you with, please don't hesitate to contact me!

Traverse City Real Estate - Jason Kudary Real Estate

Happy Thanksgiving

Amazingly, the holidays are just about here again!  Wishing everyone a very happy Thanksgiving and a great holiday season on the journey to Christmastime!

Traverse City Real Estate - Jason Kudary Real Estate

Should you continue trying to sell your home during the winter?

Yes!  Winter is actually a great time to list and/or continue trying to sell your home, primarily becuase many people remove their homes from the market during this season...meaning there is less competition for you.

Here are a few easy tips to make sure your home shines during these winter months:

1.  Make sure to keep driveways and sidewalks clear of ice and snow and be sure to leave exterior garage and porch lights on during the darker winter evenings.

2.  Let as much light in as possible during the day by keeping curtains and blinds open.  If the showing is scheduled for evening, leave several lights on inside the home, burn a nicely scented candle, leave a gas fireplace burning...whatever you can do to bring a warm and cozy feeling to your home.

3.  Keep the furnace on at a reasonable temperature so potential buyers feel comfortable walking through your home.

4.  Place spring, summer and fall photos of your home on the counter so buyers can see what your home looks like during the different seasons.

5.  Bring green into the home with plants and flowers.

5.  Buyers need to be able to see beyond your possessions and decor to visualize themselves and their things in your home.  Always remove as much clutter as possible and if it's holiday time, keep decorations simple and put them away as soon as the holidays are finished.

I'm always available to answer any questions or concerns you may have.  Feel free to contact me anytime and let me know how I can help you get your home sold!

Traverse City Real Estate - Jason Kudary Real Estate

Going Green!

Looking for ways to reduce your utility bills, become more knowledgeable about eco-friendly procucts and services, help preserve the beautiful region we live in?  Then don't miss the Green Solutions 4 (GS4) Expo at the Hagerty Center from 10:00 a.m. to 4:00 p.m. on Saturday October 25, 2008.  Informative seminars throughout the day and great prizes will be given away.  For more information, visit www.taar.com.

Traverse City Real Estate - Jason Kudary Real Estate

Short Sales

A short sale occurs when the proceeds from the sale of a home fall short of the owner's actual mortgage balance.  Today, many lenders are more agreeable to accepting the terms of a short sale so they can avoid the lengthy and costly foreclosure procedure.

Prior to the enactment of the Mortgage Forgiveness Debt Relief Act in December of 2007, the IRS (with a few exceptions) required that the amount of debt forgiven had to be included as income on your tax return and was taxable. 

However, the Mortgage Forgiveness Debt Relief Act allows you to exclude certain cancelled debt from being taxed as income.  The Act applies only to debt used to buy, build or substantially improve your principle residence, or to refinance debt incurred for those purposes.  Details on whether you qualify for this exclusion are available on the IRS website at the link below.  I would also recommend that you consult qualified tax and/or legal counsel regarding your specific circumstances .

http://www.irs.gov/individuals/article/0,,id=179414,00.html

Traverse City Real Estate - Jason Kudary Real Estate

A Bright Spot in Michigan

While many counties in Michigan are seeing a decline in population as reported by a recent article in the Grand Rapids Press, Grand Traverse County is one of the exceptions.  The artcle reports that we had a net gain of 646 residents according to census data from July 2006 through July 2007.  Here's the full article:

http://blog.mlive.com/grpress/2008/08/census_shows_more_leaving_mich.html

Just another reason I am thankful to live, work and play in this beautiful corner of the country! 

Traverse City Real Estate - Jason Kudary Real Estate

Displaying blog entries 21-30 of 57

Traverse City real estate listings, homes, waterfront, vacant land, commercialMLS search; Home buying and selling tips; Traverse City community links and information; Also serving Leelanau, Old Mission Peninsula, Torch Lake, Elk Lake, Grand Traverse, Benzie, Antrim, Kalkaska and Interlochen areas.

 

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