Like it or not, your pool can have a huge effect on how potential buyers view a home. Many will look at your pool and see clear water and attractive landscaping, but some will only see maintenance expenses, and still others just see a hazard for their young children. Obviously the proportion of each kind of buyer will vary with the local climate and relative number of home pools in your area— a pool in Florida will obviously gain more admirers than a pool in, say, Maine. In Florida, a pool usually adds value to a home, particularly a high-end home that already has a lot to offer. Typically these buyers are willing to pay more for the privilege of owning your former poolside retreat. The relative desirability of a pool is reflected in the monetary value of reselling a home with a pool.

What can you do to make your pool an asset? Research indicates that it’s the little things that make a big difference when reselling a home generally, and this advice applies to pools as well. The good news is that you can control what buyers see when they look at your pool. To that end, it’s time for a pool check-up. Does the stone or tile seem worn or eroded? Water not sparkling? Fountain running slowly? Fixing these issues will go a long way toward dressing for success for buyers. Remember that your home is competing with the best new homes in your area, and emphasize the advantages of inheriting a pool from previous owners. A beautiful, inviting pool will win over buyers and make them more willing to pay those few extra dollars.

Of course, sprucing up your pool is most helpful for persuading truly undecided buyers, the people who are flying in from Buffalo and have never even thought of owning a pool in their lives. These buyers may be put off at the thought of the pool initially, but once they see the raft floating near the spa or the towels out to dry in the sunshine, they may be seduced. However, those who are more familiar with what it takes to buy and maintain a pool, but haven’t decided if such an investment is right for them, can be the trickiest to persuade—yet another reason to be sure your pool looks its best when real estate agents come calling. When shown to its best advantage, your favorite weekend hangout can become a great reason for a buyer to choose your home.

reprinted by permission from Katherine McKenzie

There are 245 units in Uptown Place and 111 have turned over in the last three years. There are only eight foreclosure related filings open this year. Park North has 305 units and 124 have turned over wth only four filings this year. The Metropolitan has 129 units and 59 (almost half) have resold in the last three years with only four filings in 2011. For those of you who may not know this, any condo sales over the last few years would be cash deals. So, if you are thinking someone who bought in 2008 might still be upside down – it just is not likely. I wrote some time ago about another condo community in South Orlando with 360 units that was down to nine paying owners in 2008 that had 240 paying owners by 2010.

This type of turnaround is happening all over Orlando which helps explain why November’s median sales price was up 9.5% over the same month a year ago. If you are thinking about getting back into the Orlando real estate market, don’t wait too long. Prices are still very low and interest rates are ridiculously low. This won’t last forever though.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

So far this year, and we have a few weeks left, there have been 5,698 homes priced under $100,000 that have had their listing either withdrawn or expire. That means even these most affordable properties are still about 12% more likely to be pulled off the market or see their listing expire than get a contract. There have been 4,736 homes priced between $100,000 and $200,000 that have fallen off the market. In that price range homes are 35% more likely to fail to sell than get a contract. To be fair, we don’t know why these properties came off the market. Many of them probably did not get a chance to sell for reasons that have nothing to do with the market per se. That said, the odds get longer as the price goes higher. There are 816 homes pending in the $200k-$300k range, but 1,854 failed to sell, so more than twice as many failed as succeeded. Homes priced $300k-$400k were three times more likely to fail to sell. $400k-$500k properties were 3.77 times more likely not to sell, and homes priced over $500,000 were more than 4 times more likely not to go to contract.

If you are the gambling type you might not like the odds of selling your higher priced home, but there ways to stack the deck in your favor. First, have a realistic expectation of the value of your home. I have observed that most sellers over value their home in many cases by 20% or more. Second, make your home available to be shown. While the over all market has a shortage of listings, there is a substantial oversupply when considering the number of higher priced homes compared with the number of buyers for those homes. You may only get one shot to show your house to the right buyer. Third, make sure when your house is shown, it is in show ready condition. Finally, find a Realtor® that has the tools and experience to market your home properly. Currently, there are 287 homes in the tri-county area priced over $500,000 that have contracts pending, so there is a market make sure you are prepared for it.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

Now for the sales statistics. There were 2,048 closed sales in November which is down from 2,158 in October, and that is a little disappointing since the month started out very strong. The median price, definitely did not disappoint, coming in at $115,000. That is a big increase over October’s $108,000 and November of 2010′s $105,000. It think that is the third or fourth month in a row of year over year price improvement. Of those sales, 489 or 23.9% were REO with a median price of $75,300 and increase over October. There were also 762 short sales closed making up 37.2% with a median price of $106,000 also an increase over October. The biggest group was equity sales, accounting for 797 or 38.9% with a median sales price of $150,000, slightly lower than October. The ratio of short sales closed to pending once again exceeded 10%. Cash sales remained the strong with 1,037 or 50.6% of all sales closing without any financing at a median price of $75,003 up from October. The financed sales accounted for 1,011 or 49.4% of all sales with a median sales price of $145,000 which is a bit lower than October.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

I was setting up showings for this weekend, and one of the agents was very clear she did not want to be bothered with a phone call or email. The instructions were “text xxx-xxx-xxxx for showing instructions…” I texted my name, company name and requested showing instructions for her listing along with the time I wanted to show the property. I received no response. The next day, the date of the requested showing, I sent the same text message and still heard nothing. About two hours after the time I had asked to show the property, I received a nasty text from this agent wanting to know why I did not show up at her listing. I informed her that I requested showing instruction twice, but never heard back from her. Of course, she said she responded to the first request. Unfortunately, for her seller and my buyers I never received that response. You would think when she received the second request from me, she would have realized that I did not get the instructions.

Certainly, you might ask why I did not phone her when I did not hear back. Quite simply, I try to respect the communication style that other Realtors and customers prefer. I think it is just a matter of being a sales professional and understanding that people communicate differently. I have customers that prefer speaking with me, and others that would rather have a text. Others like to communicate through email, so they can keep a record of the conversation to which they can refer later. All of these styles or methods work equally effectively as long as both sides are engaged in the conversation. If you leave a message or send an email or text, and do not hear back. Contact them again to make sure they received the message in the first place. When you receive a message, just send a quick confirmation. I always say, if a message I send is important to me then I get confirmation that it was received.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

Here some things to be aware of as potential issues regarding property insurance. First, the age of the home can be a factor. Many insurance companies will require what is called a four point inspection before issuing a policy on homes that are more than 25 years old. Speak with your insurance agent about this before having the home inspection, because many inspectors can prepare the four point inspection along with the full property inspection. What is a four point inspection you may be asking. The four points are: roof, plumbing, electrical and HVAC systems of the home. inspection. An older home with an old roof, plumbing, electrical and HVAC may be difficult or more costly to insure. A four point inspection that shows the insurance company that the home’s basic systems are updated and in good repair reduces the risk of problems arising with the home, so insurance costs could be much lower.

There are potential issues with each of the four points that can make insurance more difficult to come by. An example of an issue with the HVAC is a poorly maintained system that has become contaminated with mold. Many homes built here in the early to mid 1970′s were wired with aluminum. There are insurance companies that would rather not insure these homes. A very popular type of plumbing used in the early 1990′s was polybutylene. This grey colored piping was part of a huge class action lawsuit. It is highly unlikely that the faulty piping was used to replumb here, but insurance companies do not usually want to take the risk. Of course, a leaky roof is obviously a potential insurance claim waiting to happen. Thankfully, many have been replaced as a result of the hurricanes a few years back. If the home you are purchasing has a newer roof, an inspection that can help bring down the cost of insurance, is a wind mitigation inspection. Inspectors have to be specially licensed to perform this inspection, and some actually guarantee your insurance savings to at least cover the cost of the inspection. Sometimes the savings are substantially higher.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

1. Organized Teams Translate to Power Project managers think in terms of team-building. An excellent project manager has taken the time to build an awesome team. Observing how the Realtor works with a team can help your transactions go more efficiently. The title company, appraiser, inspector, and even the administrative assistants, receptionists, and hotels recommended for out of town clients all become part of the Realtor’s personal team. Examine the links in the chain. The sum of the parts should always be a more powerful entity than the individual parts are alone. An effective team increases profits and is worth the time it takes to intentionally and skillfully assemble one; seasoned Realtors utilize teams powerfully. Clients notice transactions go more smoothly with Realtors who have strong team management skills.

2. Time Management Builds Client Respect In a stressed economy when people are taking on more duties with less compensation, time is more valuable than ever. A seasoned Realtor knows this and takes the time before a meeting to be sure everyone is prepared with all documents that might be needed. An effective Realtor should be on time and set up the method of communication s/he will use to notify you if a last minute emergency should prevent him/her from arriving on time. Certified project managers plan time wisely and prepare for upcoming complex meetings with an organized methodology; experienced Realtors use similar skills to organize complex schedules. An organized professional is one who understands the value of a client’s time and works logically and skillfully toward making his or her management of time seem effortless to those on the outside looking inward.

3. Using Communication Effectively Demonstrates Experience There are times when email is just not the correct or most professional mode of communication. When delivering bad news about delays for instance, voice or face to face communication is sometimes more effective even if electronic follow up is provided for documentation. In business, when unexpected situations arise, most people will remember how you communicated with them and communicate that when it is time to recommend you to others. Successful Realtors know that powerful communication skills build business. When reviewing the communication practices of Realtors, it is important to feel that the mode of communication s/he uses fits the message being conveyed. The Realtor should respect and remember your input regarding your communication preferences. Effective project managers also know the importance of follow-though. How a Realtor closes the transaction with you will be the last interaction you will probably have before you decide to recommend him or her. Most seasoned Realtors remember to say thank you in some tangible way – a hand written note goes far in today’s electronic world. A little personal thought can go a long way; most effective Realtors understand this.

4. Anticipating and Planning for Delays Builds Client Trust Any certified project manager can tell you that adding time in the contract for delays is actually one of the secrets of delivering a project on time and under budget. Weather delays, construction delays, bank overload, illness, etc. can and will all add unexpected delays to a project. There are many unknowns that may arise in the process of a real estate transaction. Your Realtor should be able to anticipate and plan for the eventuality of common delays and communicate those possibilities to you. When delays occur, it is important that your Realtor communicates the issue to all affected parties. If the delay is going to create a chain effect, the Realtor should be able to manage that event. For a Realtor, part of planning for a delay is creative-problem solving, and having a back-up team of other professionals such as contractors and appraisers to draw from. Anticipation and preparation for delays makes the project run more smoothly and that can translate to more referrals for a real estate agent when the project is complete. Communicating effectively about the unexpected builds team trust, respect, and confidence; a seasoned real estate agent should handle delays and manage challenging events in ways that make you feel you can trust his or her and will feel confident recommending the agent in the future.

Any real estate transaction brings on a certain amount of stress. As a client, you will want to see that your chosen Realtor can juggle and manage a wide range of events over which you neither of you can have complete control. Borrowing some of the “secrets” of the trade from certified project managers can help you judge how effectively a Realtor manages teams, uses communication skills, spends meeting time, and handles delays or other complications that are inevitable in any business transaction. While there is no magic potion for choosing the best Realtor, there are creative ways to look at a Realtor’s professional skills. From your perspective as a client, the most sought-after Realtors will make the real estate transaction process nearly seamless and will move with you through the process with a finesse that seems almost magically effortless.

Project management can be useful in real estate and many other professions. Villanova University’s online programs provided this post about project management tips and offers project management training 100% online.

Posted with permission from Joe Schembri–Villanova University & Bisk Education

Even with inventory creeping up and the number of pending contracts dropping, sales for October remained pretty strong. There were 2,158 closed sales virtually unchanged from September with a median sales price of $108,000 which is down from September’s $112,000. The closed sales posted for October were made up of 539 or 25.0% REO’s with a median sales price of $74,900, 740 or 34.3% short sales with a median price of $95,000, and 879 or 40.7% equity sales with a median of $153,250. REO and short sale prices were each down about $5,000 while normal equity sales were up over $4,000. The 740 closed short sales makes the third month in a row that short sales closed to pending ratio has been over 10%. Cash buyers remain very strong with 1,125 or 52.1% of all sales closing with no financing. The median price of cash sales remained unchanged at $70,000. Sales closed with financing made up 1,033 or 47.9% with a median price of $150,000.

The biggest mover in our market appears to be short sales. The number of active short sales is down significantly. Last year there were nearly 6,000 short sales and today there are just over 3,000. A year ago there were about 5,700 short sales with contracts and today there are over 7,100. While last October there were only about 450 closed short sales, this year there were nearly 750.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone

We have also seen a shift in the type of owner that is selling. In January only about 25% of the sales were normal “equity” sales, meaning the owners were real people who were able to sell their home and payoff their existing mortgage without their bank approval of a shortfall. We have moved from that low back up to about 40% of the sales being equity sales. The biggest factor effecting this is the slowdown in foreclosures. Everybody likes to talk about waves of foreclosures, but I think of it more in terms of a garden hose. The banks legal troubles have forced them to turn the flow of foreclosure proceedings down, but they are close to resolving their issues with the Attorney’s General around the country. When that happens, they will open up the flow of foreclosures coming to market again.

I have already noted that the number of foreclosures on the market is climbing slightly. I would not be too concerned about foreclosures flooding the market however. Even though foreclosure filings took a big jump a month ago, they were still more than 50% lower than a year ago. Next year, I expect to continue the improving trend. One thing to keep in mind if you are considering selling. The overall inventory of homes may be around four months, but the inventory of homes priced at $200,000 and up is pretty much in balance. Homes priced over $300,000 there is still a fairly significant over supply. That is why I say we are moving toward a seller’s market, but we are not there yet for higher priced homes.

David Welch Real Estate Optimist, Orlando Real Estate, Any Home-Any Phone