Sounds quite simple, right? Wait for housing prices to bottom out and purchase a home at the lowest price and then sell at the top of the market. The problem is, due to market inefficiencies, one never knows when the market hits rock bottom, until it is too late. It is extraordinarily difficult to forecast the market with any degree of certainty. Real Estate is affected by too many unpredictable factors.
Unlike the Capital Markets, information is quite sparse and difficult to obtain. Real Estate is affected by micro factors that may influence an extremely small market area, limiting the usefulness of broad market indicators like the S&P Case/Shiller and OFHEO house pricing indexes. Due to issues of liquidity and costs, transactions are few and often reflect past market tendencies. Prices for homes can reflect negotiations in a market environment several months and even years before the actual closing and reporting of the figures. Contrast this with stocks where companies are regulated and must regularly disclose financial statements. Shares are traded in real time with new prices reflecting changes in market behavior.
It is important to differentiate between speculation and true market analysis. Investigate how stable your financial situation is, reflect on your motivation to purchase or sell, and then decide on a time horizon that is commensurate with your goals. These are factors that should be weighted more heavily than the speculative stance of waiting for the bottom. Otherwise, one might be waiting for Godot!
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Monday, September 29, 2008
Friday, September 26, 2008
People You should Know
Knowing the difference between real estate sales people, financial officers and executives, and licensed and certified real estate appraisers is crucial. Real Estate salespeople are generally knowledgeable in a given locale, have access to historical data, and have training in the marketing, purchasing, and selling of real property. They may or may not have appraisal training and can often provide comparative market analysis. In stable market conditions, where quality of data is abundant, CMA’s can be relatively accurate.
Real Estate salespeople, because they work so closely with buyers and sellers in a specific area, have insight to buyer/seller motivations and preferences. As a group, they often do not consider as many value affecting factors as appraisers and do not employ the cost and income approach to valuation. Real Estate salespeople can give an indication of market price while only appraisers can give an opinion of value (market, investment, insurance etc).
Some Real Estate financial officers and executives have sophisticated analytical training in property valuation while others have a limited ability to understand economic and appraisal concepts. This reflects the wide array of services provided by people from this category, including loan officers, closing agents at title companies, relocation officers and agents, and others. Real Estate investment advisors often can provide sophisticated analysis though they are rarely trained appraisers.
Appraisers are trained specifically in the analysis of property valuation, employing the cost, income, and comparison approach. They give opinions of value (while Realtors can only give estimates of price) with a transparent report supported by market evidence. They report various types of value, including market, insurance, and investment and can project value under various economic environments as the circumstances warrant.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Real Estate salespeople, because they work so closely with buyers and sellers in a specific area, have insight to buyer/seller motivations and preferences. As a group, they often do not consider as many value affecting factors as appraisers and do not employ the cost and income approach to valuation. Real Estate salespeople can give an indication of market price while only appraisers can give an opinion of value (market, investment, insurance etc).
Some Real Estate financial officers and executives have sophisticated analytical training in property valuation while others have a limited ability to understand economic and appraisal concepts. This reflects the wide array of services provided by people from this category, including loan officers, closing agents at title companies, relocation officers and agents, and others. Real Estate investment advisors often can provide sophisticated analysis though they are rarely trained appraisers.
Appraisers are trained specifically in the analysis of property valuation, employing the cost, income, and comparison approach. They give opinions of value (while Realtors can only give estimates of price) with a transparent report supported by market evidence. They report various types of value, including market, insurance, and investment and can project value under various economic environments as the circumstances warrant.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Wednesday, September 24, 2008
How Time Affects Real Estate Prices
You’ve found your dream home and are working up a Comparative Market Analysis to see if it is priced properly. Due to the nature of inefficient markets in Real Estate, the only comparables you can find were sold over a year ago. How can you adjust for time?
Technically, you shouldn’t. Time does not affect real estate prices. Changes in market conditions, such as appreciation or depreciation in properties, inflation/deflation, changes in home buyer’s perceptions of the market environment and a host of other variables affect Real Estate. If market conditions have not changed, than no adjustment is necessary for a comparable purchased over a year ago. If a home was bought last month and the economic landscape has changed considerably, than an adjustment is warranted.
Difficulties arise in determining when the price of a comparable property was ultimately negotiated. Closing dates provide only a general indication as to the time and subsequent market conditions of negotiation since the date between acceptance and final closing can vary considerably (weeks to years). If the physical and economic characteristics of a property are held constant, than analyzing the sales of the same property can reflect changes in market conditions.
This is the premise under which constant quality house pricing indexes published by the S&P Case/Shiller and OFHEO HPI operate, albeit with a more sophisticated methodology. In your own analysis, investigating several sets of sales would be prudent. Care must be taken to ensure that transactions do not involve non-market conditions and are truly at arm’s length. Linear regression analysis and scatter diagrams can be useful in analyzing the annual rate of change in market conditions.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Technically, you shouldn’t. Time does not affect real estate prices. Changes in market conditions, such as appreciation or depreciation in properties, inflation/deflation, changes in home buyer’s perceptions of the market environment and a host of other variables affect Real Estate. If market conditions have not changed, than no adjustment is necessary for a comparable purchased over a year ago. If a home was bought last month and the economic landscape has changed considerably, than an adjustment is warranted.
Difficulties arise in determining when the price of a comparable property was ultimately negotiated. Closing dates provide only a general indication as to the time and subsequent market conditions of negotiation since the date between acceptance and final closing can vary considerably (weeks to years). If the physical and economic characteristics of a property are held constant, than analyzing the sales of the same property can reflect changes in market conditions.
This is the premise under which constant quality house pricing indexes published by the S&P Case/Shiller and OFHEO HPI operate, albeit with a more sophisticated methodology. In your own analysis, investigating several sets of sales would be prudent. Care must be taken to ensure that transactions do not involve non-market conditions and are truly at arm’s length. Linear regression analysis and scatter diagrams can be useful in analyzing the annual rate of change in market conditions.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Monday, September 22, 2008
What If's?
In Real Estate valuation, we constantly deal with uncertainty and risk. The “What Ifs” (housing prices fall, interest rates rise, expenses increase, etc) can wreck havoc on even an experienced home buyer and investor. With the advance of electronic spreadsheets and computer programs, we can now explore a myriad of what ifs quickly and easily with sensitivity analysis.
With an electronic spreadsheet, we can create a computer model/ algorithm which can go through the various calculations needed for valuation (preferably a discounted cash flow analysis) generating a forecasted operations statement and reversion statement. You input variables such as purchase price, financing terms, forecasted changes in expenses, rents, capital growth, and tax implications. By altering one variable and holding others constant, you see how sensitive the resulting estimate of value is to that variable.
For example, you can see how changing interest rates by intervals of .1% (or any desired amount) affect value (before tax, after tax, cash flow, total value). Though this is quite useful, rarely does only one variable change in a given situation. More likely, several variables will move in varying degrees. With sensitivity analysis, we can alter a host of variables to reflect possible situations in a form of risk analysis where value can be estimated under pessimistic, optimistic, and most probably situations. Simulations can be run to explore the range of possible investment values.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
With an electronic spreadsheet, we can create a computer model/ algorithm which can go through the various calculations needed for valuation (preferably a discounted cash flow analysis) generating a forecasted operations statement and reversion statement. You input variables such as purchase price, financing terms, forecasted changes in expenses, rents, capital growth, and tax implications. By altering one variable and holding others constant, you see how sensitive the resulting estimate of value is to that variable.
For example, you can see how changing interest rates by intervals of .1% (or any desired amount) affect value (before tax, after tax, cash flow, total value). Though this is quite useful, rarely does only one variable change in a given situation. More likely, several variables will move in varying degrees. With sensitivity analysis, we can alter a host of variables to reflect possible situations in a form of risk analysis where value can be estimated under pessimistic, optimistic, and most probably situations. Simulations can be run to explore the range of possible investment values.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Friday, September 19, 2008
8 Critical Adjustments in a CMA
1. Property rights
2. Conditions of Sale (Motivations of buyers and sellers)
3. Financing terms
4. Market conditions at the time of sale
5. Size
6. Location
7. Physical features
8. Economic characteristics
When preparing a Comparative Market Analysis, it would be prudent to place the most weight on sold properties while preparing another CMA with currently listed property. Investigate reasons as to why certain comparable properties have been withdrawn from the market or have been rented out as income property. When making adjustments, be sure to ascertain what the preferences are of a typical individual in your delineated market area. Be prepared to periodically re-evaluate market conditions and make adjustment to any relevant changes in financing, market perceptions, shifts in both lending and government policy, and supply/demand functions. Make quantitative adjustments only when there is supportable market evidence.
Oftentimes, it is difficult to ascertain what the market truly values certain components of a house, especially in respect to factors which influence valuation in a non-linear manner. Ranges can be set using qualitative approaches. Extreme care must be given in making sure certain elements are not factored twice, such as the case for adjusting both for size, and number of rooms. If too many adjustments need to be made, the possibility that the comparables are really not comparables must be considered.
If it is difficult to ascertain certain adjustments, than each comparable should be weighted differently, to reflect the quality of the data. Remember, CMA’s can give an indication of value but personal judgment must be made on the degree of influence each factor has, and the quality and quantity of the data available in determining with what degree of confidence you stand by this indication.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
2. Conditions of Sale (Motivations of buyers and sellers)
3. Financing terms
4. Market conditions at the time of sale
5. Size
6. Location
7. Physical features
8. Economic characteristics
When preparing a Comparative Market Analysis, it would be prudent to place the most weight on sold properties while preparing another CMA with currently listed property. Investigate reasons as to why certain comparable properties have been withdrawn from the market or have been rented out as income property. When making adjustments, be sure to ascertain what the preferences are of a typical individual in your delineated market area. Be prepared to periodically re-evaluate market conditions and make adjustment to any relevant changes in financing, market perceptions, shifts in both lending and government policy, and supply/demand functions. Make quantitative adjustments only when there is supportable market evidence.
Oftentimes, it is difficult to ascertain what the market truly values certain components of a house, especially in respect to factors which influence valuation in a non-linear manner. Ranges can be set using qualitative approaches. Extreme care must be given in making sure certain elements are not factored twice, such as the case for adjusting both for size, and number of rooms. If too many adjustments need to be made, the possibility that the comparables are really not comparables must be considered.
If it is difficult to ascertain certain adjustments, than each comparable should be weighted differently, to reflect the quality of the data. Remember, CMA’s can give an indication of value but personal judgment must be made on the degree of influence each factor has, and the quality and quantity of the data available in determining with what degree of confidence you stand by this indication.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Wednesday, September 17, 2008
The Fed, Importance Overstated?
The Federal Reserve regulates money and credit in the United States, which is vital for Real Estate. Their recent bailouts or lack of one of major companies have been intensely reported by the media as giants Bear Stearns, Freddie and Fannei, Lehman Brothers, Merrill Lynch,and A.I.G have had enormous financial difficulties. The Fed influences the flow of money in three ways: through their reserve requirements, discount rate, and the Federal Open Market Committee. Because its policies influence the Money and Capital Markets, changes in policy are heavily scrutinized by the media and investors.
Though the Fed plays a vital role in Real Estate, its effect on mortgage interest rates may have been overstated. Mortgage bond prices are heavily influenced by long-term expectations of inflation. While the Fed’s monetary policy influences short term rates, their effectiveness on controlling long term rates is more difficult to gauge. Comparing the rates between treasuries and conventional mortgages show how closely aligned the corporate bonds, conventional mortgages, and 10 year treasuries are.
Of course the Federal Funds Rate does exert influence. The question really is, what economic factors are forcing the Fed’s hand and how do these factors affect long term investments and mortgage rates. Understanding the underlying issues is of critical importance, not whether the Fed is simply raising or lowering rates.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Though the Fed plays a vital role in Real Estate, its effect on mortgage interest rates may have been overstated. Mortgage bond prices are heavily influenced by long-term expectations of inflation. While the Fed’s monetary policy influences short term rates, their effectiveness on controlling long term rates is more difficult to gauge. Comparing the rates between treasuries and conventional mortgages show how closely aligned the corporate bonds, conventional mortgages, and 10 year treasuries are.
Of course the Federal Funds Rate does exert influence. The question really is, what economic factors are forcing the Fed’s hand and how do these factors affect long term investments and mortgage rates. Understanding the underlying issues is of critical importance, not whether the Fed is simply raising or lowering rates.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Monday, September 15, 2008
3 Real Estate Myths
1. Foreclosed Property represents a great bargain. When you see a “bargain” foreclosed property for sale, be extremely careful. Check for contingencies, warranties, and rights being sold and adjust accordingly when comparing to other property. Ownership interest and warranties on a bank owned property may not be comparable to the neighboring house. Remember, the previous owner tried to sell this home and failed. The bank and any companies which hold liens on the property will not let the house go unless they can recoup their interest or sell for market value. There are great deals, but you have to do your homework.
2. "I’ll wait for interest rates to drop again." World famous economist and thinkers have trouble forecasting interest rates. This wishful and speculative thinking has made many a purchaser lose precious money. Interest rates are influenced by long run anticipated inflation, investor behavior in the Debt and Equity markets, consumer spending, global markets etc. If you can truly forecast changes in interest rates with any confidence, call me, and we’ll make a billion together.
3. Assuming sellers always inflate their prices by 5%. Sellers are motivated to sell for a wide range of reasons. Some are not motivated to sell and will inflate their asking price by 10% while others are under financial duress and are willing to sell under market value. The key is to understand what your local market will value the property for a typical buyer/seller and ascertain his motivations, as well as yours. Wouldn’t it be foolish to lose a great property at a great price simply because your offer was lower than the already discounted price?
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
2. "I’ll wait for interest rates to drop again." World famous economist and thinkers have trouble forecasting interest rates. This wishful and speculative thinking has made many a purchaser lose precious money. Interest rates are influenced by long run anticipated inflation, investor behavior in the Debt and Equity markets, consumer spending, global markets etc. If you can truly forecast changes in interest rates with any confidence, call me, and we’ll make a billion together.
3. Assuming sellers always inflate their prices by 5%. Sellers are motivated to sell for a wide range of reasons. Some are not motivated to sell and will inflate their asking price by 10% while others are under financial duress and are willing to sell under market value. The key is to understand what your local market will value the property for a typical buyer/seller and ascertain his motivations, as well as yours. Wouldn’t it be foolish to lose a great property at a great price simply because your offer was lower than the already discounted price?
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Thursday, September 11, 2008
FSBO's, What You Should Know
Individuals who try to sell FSBO can save money on commissions if you have the necessary valuation and marketing tools. You must be able to ascertain the market price for the property. The best and easiest way to do this on your own is to hire an appraiser. Now comes the difficult part. You might have the nicest house for the lowest price, but if no-one knows about it, what is it worth? You need to market in newspapers, magazines, and online, utilizing multiple websites, virtual flyers, viral and drip marketing.
The challenge the owners face is that the type of buyer you would want to attract typically works with a Realtor, especially since it does not cost them any money. Even if you offer to pay buyer agent commissions, salespeople will have a difficult time knowing your property is for sale. Buyers who relocate, often use Realtors since they don’t know the area and are short on time. People who are concerned with the market and do not like the pressure of purchasing a place without assistance will often use a Realtor.
That leaves the savvy investor, who will try to purchase your home at under-market prices, and the perennial lookers who look at multiple homes without any intent to purchase them. To overcome this, you must expand your marketing to make sure serious buyers will find your listing and expend the requisite amount of time and energy needed to close the sale.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
The challenge the owners face is that the type of buyer you would want to attract typically works with a Realtor, especially since it does not cost them any money. Even if you offer to pay buyer agent commissions, salespeople will have a difficult time knowing your property is for sale. Buyers who relocate, often use Realtors since they don’t know the area and are short on time. People who are concerned with the market and do not like the pressure of purchasing a place without assistance will often use a Realtor.
That leaves the savvy investor, who will try to purchase your home at under-market prices, and the perennial lookers who look at multiple homes without any intent to purchase them. To overcome this, you must expand your marketing to make sure serious buyers will find your listing and expend the requisite amount of time and energy needed to close the sale.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
To Sell or Rent?
With a down market, homeowners are wondering whether they should sell their houses or rent them out and wait for the market to rebound. Stated in another way, is the investment value higher than the market value? Market value is the price a typical buyer will pay for your property. Investment value depends on an individual’s financial situation, risk preference, and the ability of the property to provide financial benefits over a pre-determined time horizon. For these reasons, investment value will differ for each individual investor. How one analyzes the stream of anticipated benefits depends on the quantity and quality of available market data.
Direct capitalization techniques such as gross income multipliers, capitalization rates, band of investment and residual techniques as well as yield capitalization are often used. Utilizing discounted cash flow analysis with sensitivity analysis as a risk measure can help give an in investor an indication of present value. This form of analysis makes explicit financing terms, changes in expense, income, vacancy, tax implications, and solvency issues.
Return can be partitioned into its individual components as a form of risk measurement (capital growth, tax benefits and liabilities, cash flow, amortization etc). For example, return solely from appreciation 10 years down the line may be more difficult to forecast than return generated form tax incentives and positive cash flow from operations. With partitioning, the analyst can determine which areas further research is warranted. At the bottom of this page is a program which can help analyze the investment value of a property. I have created a more sophisticated computer model. Contact me for a FREE analysis.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Direct capitalization techniques such as gross income multipliers, capitalization rates, band of investment and residual techniques as well as yield capitalization are often used. Utilizing discounted cash flow analysis with sensitivity analysis as a risk measure can help give an in investor an indication of present value. This form of analysis makes explicit financing terms, changes in expense, income, vacancy, tax implications, and solvency issues.
Return can be partitioned into its individual components as a form of risk measurement (capital growth, tax benefits and liabilities, cash flow, amortization etc). For example, return solely from appreciation 10 years down the line may be more difficult to forecast than return generated form tax incentives and positive cash flow from operations. With partitioning, the analyst can determine which areas further research is warranted. At the bottom of this page is a program which can help analyze the investment value of a property. I have created a more sophisticated computer model. Contact me for a FREE analysis.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Everyone Needs to Know
Due to market inefficiencies, good data, which is essential in property valuation, is extremely difficult and expensive to procure. Due diligence and research is required. Because we operate with limited resources, allocate your time to the factors that most influence the price of your home.
For broad market indicators, make sure you check market statistics provided by the National Association of Realtors (NAR), Office of the Federal Housing Enterprise Oversight (OFHEO) and the S&P Case/Shiller Index. Their methodologies are quite different and reflect different prices. Affordability in regards to current mortgage rates is extremely important as well.
Because Real Estate is non-homogenous, the most important aspect of valuation is to analyze the micro factors which influence the prices in your market area. You must delineate your market area and make a decision as to the duration of current market influences. When using Comparative Market Analyses, make sure you verify which rights were actually sold, conditions of sale, and whether buyers/sellers used typical financing and were typically motivated. Investigate highest and best use possibilities and use the income and cost approach when appropriate. There are a host of factors you need to consider in addition to square footage, number of bedrooms, and location.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
For broad market indicators, make sure you check market statistics provided by the National Association of Realtors (NAR), Office of the Federal Housing Enterprise Oversight (OFHEO) and the S&P Case/Shiller Index. Their methodologies are quite different and reflect different prices. Affordability in regards to current mortgage rates is extremely important as well.
Because Real Estate is non-homogenous, the most important aspect of valuation is to analyze the micro factors which influence the prices in your market area. You must delineate your market area and make a decision as to the duration of current market influences. When using Comparative Market Analyses, make sure you verify which rights were actually sold, conditions of sale, and whether buyers/sellers used typical financing and were typically motivated. Investigate highest and best use possibilities and use the income and cost approach when appropriate. There are a host of factors you need to consider in addition to square footage, number of bedrooms, and location.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Expensive Mistake
When people purchase homes, they are simply purchasing a bundle of real property rights. The reported selling price generally reflects the price paid for these rights. However, they sometimes reflect prices paid for additional rights, other personal and real property, and restrictions on certain rights. If you do not make the proper adjustments in your comparative market analysis, you could make a very expensive mistake.
The purchase price of foreclosed property often reflect the extreme limitations imposed on the buyer in regards to warranties and contingencies and should not be compared to conventional sold property without the necessary adjustments. An owner selling rights conveyed by a quitclaim deed that does not include the total fee simple bundle of rights is not as valuable as a fee simple transaction. Some owners add forms of deed restrictions or have existing leases that encumber the title.
There are times when owners stipulate promises to perform or not to perform certain acts, special financing, contract rights, or other business interest which must be taken into consideration. It is often difficult to find market derived data to support adjustments necessary when using these comparables as a direct comparison. Depending on the available data, these comparables might have to be thrown out or used as secondary support based data.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
The purchase price of foreclosed property often reflect the extreme limitations imposed on the buyer in regards to warranties and contingencies and should not be compared to conventional sold property without the necessary adjustments. An owner selling rights conveyed by a quitclaim deed that does not include the total fee simple bundle of rights is not as valuable as a fee simple transaction. Some owners add forms of deed restrictions or have existing leases that encumber the title.
There are times when owners stipulate promises to perform or not to perform certain acts, special financing, contract rights, or other business interest which must be taken into consideration. It is often difficult to find market derived data to support adjustments necessary when using these comparables as a direct comparison. Depending on the available data, these comparables might have to be thrown out or used as secondary support based data.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Property Information
For FREE automatic emails updating you on any new listings or changes in price for property that fit your criteria, as well as for customized Market Reports, please email me. Include the addresses of specific property you are interested in as well as the general neighborhood and housing attributes your are looking for. I can find a local Realtor which suits your needs as well, all at NO COST to you.
Any questions please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Any questions please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Tuesday, September 9, 2008
Seller's Guide
Pre-market Consultation
In order to make you feel as comfortable as possible, we should discuss your goals and concerns. You should choose a marketing strategy and time line that best suits your needs. You will have my full, undivided attention as I do not delegate responsibilities to team members. You are the boss.
Valuation
I will prepare customized Market Reports and explain all relevant macro and micro factors which could affect the sale of your home. You will receive automatic email alerts on any changes in price on all competing properties. Though I will analyze current market data, you will choose the price that you feel accomplishes your goals. You're opinion always comes first.
Marketing Strategy
You will have your own individual website created to market your home. I will utilize viral marketing, syndication, virtual flyers, and video to sell your home quickly. Your home will be linked to a substantial list of major Real Estate websites with a combined reach of more than one billion visitors (Google, Yahoo, Realtor, Trulia etc). Our brokerage web site averages 82,000 unique visitors a month. I will advertise in various print media and hold open houses as well.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
In order to make you feel as comfortable as possible, we should discuss your goals and concerns. You should choose a marketing strategy and time line that best suits your needs. You will have my full, undivided attention as I do not delegate responsibilities to team members. You are the boss.
Valuation
I will prepare customized Market Reports and explain all relevant macro and micro factors which could affect the sale of your home. You will receive automatic email alerts on any changes in price on all competing properties. Though I will analyze current market data, you will choose the price that you feel accomplishes your goals. You're opinion always comes first.
Marketing Strategy
You will have your own individual website created to market your home. I will utilize viral marketing, syndication, virtual flyers, and video to sell your home quickly. Your home will be linked to a substantial list of major Real Estate websites with a combined reach of more than one billion visitors (Google, Yahoo, Realtor, Trulia etc). Our brokerage web site averages 82,000 unique visitors a month. I will advertise in various print media and hold open houses as well.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Buyer's Guide
Pre-market Consultation
In order to make you feel as comfortable as possible, we should discuss your goals and concerns. I will walk you through the home buying process and work with you in increasing your credit score, finding a terrific lender, and resolving any worries. Real Estate One is a full service brokerage which means that through our affiliated companies (Capital Title, John Adams Mortgage, Insurance One) we can make the home buying process as easy as possible.
You will receive automatic updates every day or week, informing you of new listings and changes in price. You control the searches. You will have my full, undivided attention as I do not delegate responsibilities to team members. You are the boss.
Valuation
I will prepare customized Market Reports and explain all relevant macro and micro factors which could affect prices in the area. Market data on expired, withdrawn, and rented units as well as recently sold will be analyzed for your benefit. You decide how much to offer and under what terms.
Personal Showings
I will go with you to see multiple homes. You should see as many houses as possible until You feel comfortable in making your purchase. When you find a house that appeals to you, I will compile a Comparative Market Analysis for both recently sold property and listed property so you will have access to up to date information and gain leverage in negotiations.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
In order to make you feel as comfortable as possible, we should discuss your goals and concerns. I will walk you through the home buying process and work with you in increasing your credit score, finding a terrific lender, and resolving any worries. Real Estate One is a full service brokerage which means that through our affiliated companies (Capital Title, John Adams Mortgage, Insurance One) we can make the home buying process as easy as possible.
You will receive automatic updates every day or week, informing you of new listings and changes in price. You control the searches. You will have my full, undivided attention as I do not delegate responsibilities to team members. You are the boss.
Valuation
I will prepare customized Market Reports and explain all relevant macro and micro factors which could affect prices in the area. Market data on expired, withdrawn, and rented units as well as recently sold will be analyzed for your benefit. You decide how much to offer and under what terms.
Personal Showings
I will go with you to see multiple homes. You should see as many houses as possible until You feel comfortable in making your purchase. When you find a house that appeals to you, I will compile a Comparative Market Analysis for both recently sold property and listed property so you will have access to up to date information and gain leverage in negotiations.
Any questions or for FREE customized Market Reports, automatic email updates on properties that fit your criteria, or Realtor Referrals, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Free Market Report
For FREE Market Reports, please email me a description of the type of property you are looking for, neighborhoods, and specific addresses (if you would like a Comparative Market Analysis). I can arrange for automatic updates, emailing you any new listings or changes in price for property that fit your criteria at NO Cost to you. I will also help you find a local Realtor which suits your needs.
Any questions, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
Any questions, please EMAIL ME or call me at 734-478-9270. -Anwell Tsai
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