Monday, October 22, 2007

Lincoln Real Estate Stats for September 2007

Sold: 236

Avg. Price: $153,612

Avg. Days On Market: 91 days

Extracted from Midlands MLS on 10/22/07 - Residential sales only.

Wednesday, October 10, 2007

I Can't Sell My House! What's Wrong?

The real estate market is tough all across the country. Here is a recent converstation with another top agent in the area that spells out exactly what you need to do to ensure you get your home sold. If you are not selling your home, and frustrated because you are not getting any offers, listen to this comment:

My collegue states: "The truth of the matter is that there are 3 times the amount of homes on the market now as compared to last year. Is yours the best staged, best priced and the easiest to see? If not, it won't sell, but it will help the competition to sell." There are tips and tricks we know that can help you get more showings. It always comes down to Location, Price and condition & in this market...the marketing plan can play a BIG part to make sure the eyeballs at least get on your property.On Aug 21, 2007, at 3:10 PM

For all your real estate needs, contact The Korn Team Serving Lincoln & Greater KC. We have an aggressive marketing plan designed to go find your buyer not sit around and wait for you buyer! You can't be one of our next sales unless you contact us today! 402-436-3379 or visit to see how we market our listings.

Saturday, October 6, 2007

Is Feedback from Showings on My Home Important?

We notify our seller's immediately IF an agent sends feedback. Here is our updated information during a market review with one of our seller's:

"Showing traffic has been very good considering the market conditions. Very consistent.You should be getting emails with the feedback, etc.

The feedback seems to be a little mixed as to whether or not you are overpriced. Half say it is high, half say it is priced well. The other consistent feedback seems to be that there is still work to be done. I don't know what they may be focusing on other than just the picky little things (which is a common thing in this market). The buyers want 'over the top' immaculate."

Typically only 2 out of 10 agents in the Lincoln market will actually provide feedback. It has been my experience the best feedback is to evaluate what homes received contracts after our seller's home was on the market. Agents telling you to change colors of rooms is not necessarily the best feedback. We have also started asking buyers to fill out a short "opinion survey" during our open houses to help us track and evaluate what the consumers think about the property. Our team will then help you decifer that feedback to see if there is something that needs to be addressed.

Jason Korn
The Korn Team
Serving Lincoln, Ne & Surrounding areas

Friday, October 5, 2007

Are Contingent Offers Bad?

I was just reading some comments about how contingent offers on a home can be bad and put the seller at a disadvantage. Contingent offers typically mean a buyer can make an offer on a home, but must sell their home first. The writer mentioned the normal reasons why... your home won't be shown as much; you will typically have to wait for their buyer's buyer to find a buyer; You might be willing to take a little less for your home so you don't have to wait...and several others. The Korn Team has been selling real estate for over 15 years (KC & Lincoln), helping over 120 families a year buy and sell real estate. Let me share with you my thoughts about automatically assuming a contingent offer is a bad deal...because it is not. If you have the right, experienced agent working on your behalf, it could be a VERY prosperous deal for you.Here is my response:I totally disagree with sellers being at a disadvantage with contingencies...and I will tell you the other side.

1) in many larger priced home, a buyer is going to have a home to sell to get thier equity. If you have a home that has been on the market, and a buyer can only write a contingent offer, you might be in a better position to get them under contract NOW and get the terms locked up. If you make them wait till their home sells, they may find a home they like better, because they will continue to house shop if you don't take their contingent offer.

2) if their home is priced to sell, they could be a more valid buyer than the other one you have (no one). As a listing agent we will require the buyer agent to submit a CMA of the buyers home to evaluate if they are indeed priced to sell. If they are, this could be a very lucrative offer...because you can ask a buyer to pay more for a home and counter offer bigger prices or terms when the seller is willing to take a contingent offer. Buyer's typically pay more for the home to 'inconvenience' the seller a little.

3) Contingent status typically is a default with Active homes on MLS. The only buyers who don't look at contingent offers, are other buyers who have homes to sell and would be contingent as well. The cash buyers and non-contingent buyers still look at contingent homes because typically those offers can be bumped out. Which in turn helps your seller get a better price as well, because they typically won't accept much less than the higher priced contingent offer they negotiated.

4) Very seldom is there a chain reaction. Obviously the higher priced the 1st home is will determine if the others will have a home to sell.

5) It is good advice to see if you can get the buyer to buy non-contingent, but if it means they will have to walk, you should at least consider it. This of course does not apply when a market is extremely strong. But if you are working in conditions that are typical accross the country, I think you might be giving the consumers, and agents some not so good advice. The Korn Team has been explaining the benefits of contingent offers to sellers for over 15 years, and I don't feel like any offer we have ever taken put them in a worse postition than not taking the offer originally.When you are representing a buyer, I can explain how accepting our contingent offer is great if they don't want to take a contingent offer. Unless they enjoy cleaning and rushing out of their home 5-10 times they can relax if they take our contingent offer. 6-7 of the 10 have homes to sell. If you accept our contingent offer, all the contingent buyers (whose offers you really don't want to take anyway) will quit coming to kick you out of your house for 1-2 hours ever day.

So, if you are trying to sell your home in today's market, you might want to contact The Korn Team to evaluate your particular situation. If you are wanting to buy a home in this market and you have a home to sell, and you really need to get your equity out of your current home to buy... then you must absolutely contact our team of specialists. We are watching WAY TOO many homebuyers putting themselves in HUGE financial stress by buying homes non-contingent when they really should sell thier home first. Let us show you how to get your offers accepted and how the seller will benefit by accepting your offer.

Jason Korn
The Korn TeamServing Lincoln, Ne (and Greater Kansas City)