The Power of Positive Thinking In Real Estate

Posted by I Love Murphy on
When it comes to buying real estate in the midst of economic turmoil, there’s certainly an amount of faith involved. There’s more to it than that. It’s a belief in America and the people who drive it. It’s knowledge in the predictability of business cycles and that our economy will survive and come back stronger than before – like it has numerous times. Its knowing that real estate is a solid long term investment – especially since there’s no more land being made. Its smart – many people have become wealthy or made handsome profits, and there’s no good reason why you can’t join their ranks.

Now is without a doubt a great time to invest in mountain real estate in Murphy, North Carolina. Start searching and see what real estate is for sale now in Murphy NC or sign up to get automatic updates of properties for sale in Murphy NC. See what’s out there, make the leap, and know that America has a positive outlook that’s brought to realization only one person at a time.

John Poltrock, Certified Residential Specialist – RE/MAX of Murphy, North Carolina – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us toll free at 1-866-Murphy-NC or 1-866-687-7496 and get The POLTROCK TEAM today!

 

Certainly I’m Uncertain! Should I Buy or Sell Real Estate in Murphy NC Right Now?

Posted by I Love Murphy on

            It’s easy to question whether now is the time to make the leap and buy or sell real estate in Murphy, North Carolina right now. If you are in a position where you have to buy or sell a home in Murphy right now, you’ve got an easy decision. Fact is – you have to sell because your personal circumstances say you do. Perhaps you’ve got a job relocation, move to get closer to family, health conditions, or whatever the case, it’s a good reason. Where the question really comes in to play is if you don’t have to do anything right now.

            It’s easy to get caught in the mainstream news – look out!! The sky is falling! Albeit a favorite fable, we’re living in a world with a lot of Chicken Little’s.  Every time I watch, read, or listen to the news, there is a good reason to crawl into a concrete bunker and never come out. Between the so-called housing market slump, the presidential election, consumer confidence, and anything else you can throw in, it’s a good time to be nervous about buying or selling real estate.

Here’s the truth: sometimes it pays big dividends to be a naysayer. Depending on your situation, market corrections are the best time to buy and sell.

 

If you are planning on upgrading to a new home, there’s no better time. Here’s why:

 

  • You have to sell your current home which has a worth of $250,000. Because of high inventory and fewer buyers, you must reduce it 11.74% (Percent change from 2006-2008. Please read our last article in Country Roads for more details.). You sell for $220,650. You “lost” $29,350.
  • The home you want to upgrade to costs $400,000. Those sellers too have the same impact from high inventory and fewer buyers. The 11.74% reduction brings it down a whopping $46,960. That means you “gained” $46,960.
  • So if you “gained” $46,960 and “lost” $29,350, weren’t you able to buy $17,610 more home than you could buy in an appreciating market? This holds true for any move up, no matter how small or large the sale and purchase is.

 

Or if you want to buy and don’t need to sell a property, think of this: if rates go up, you won’t be able to buy as much home. FACT is, for every ½ point increase in interest rates, you loose $25,000 in purchasing ability. The Federal Reserve is constantly watching inflation and wants to make sure it doesn’t spiral out of control. With that said – have you bought, well, anything lately? Virtually everything is getting more expensive and that alone may force the Fed to increase rates and therefore cut back your purchasing power.

          When it comes to selling property, now really is a great time to sell. Buyers are getting more active, and more importantly, your equity in your property is still quite healthy. If you’ve owned for a number of years – say 5 years or more, you have great opportunity. You can still profit from your investment because your property has had a great appreciation rate! The most recent one I evaluated appreciated at 4.88% per year since 1998 – and that was on an older, less desirable property! You won’t find rates like that at your local bank, and believe it or not, that’s one of the lowest I’ve seen in some time.

          Despite all the negativity and uncertainty floating around out there, there’s a lot of opportunity right now for both buyers and sellers. Are you considering buying property in Murphy, NC and want to know what properties fit your wish list? Contact us or your local Realtor today! You can get daily or weekly email updates letting you know what’s going on in the market. Want to sell your property in Murphy, NC? Get a complimentary evaluation on your investment and make an educated decision! Call The Poltrock Team or your local Realtor today to find out why this is truly a great time to sell!

 

John Poltrock – The POLTROCK TEAM at RE/MAX Mountain Properties – www.MyMurphy.com – JohnPoltrock@gmail.com – Call Toll Free at 1-866-687-7496

Great Market Timing

Posted by I Love Murphy on

Everyone seems to be talking about how “bad” the real estate market is right now. For those of you who like to gossip about it, I hate to break it to you. No the sky is not falling!  In fact, now is the time to buy real estate.  Interest rates are still at a historically low rate.  Remember back in the 80’s when the interest rates were around 18%? Your $150,000 mortgage payment would have been a whopping $2,260.63 as apposed to today’s much lower $923.58. How’s that for a difference?

 Many of our local banks and mortgage brokers are true professionals. There are so many mortgages products available today compared to even ten years ago.  First time home buyers have it great with many of the incentive packages being offered right now – such as no PMI (read: fancy acronym for mortgage insurance) and 100% financing. Be sure to do your research and find out which bank offer you the best product BEFORE you fill out their credit application. Want good local bank references? Call me. I’ll be happy to point you in the right direction. You can also visit our Recommended Mortgage Lenders on our Gotta Guy List.

If you think now is the time to sit on the fence – you’re wrong. Ben Bernanke (Federal Reserve Chairman) is considering raising rates to cool rising inflation as a result of the stock market boom and other economic factors. What good is saving $1,000 up front when you’re paying that much or more every year for thirty years on your mortgage? Think long term and you’ll be better off than ever.

Not only that, there’s a lot of choices on the market. Finding and buying your new home is much easier than you think. Call me today at (828) 837-3002 to arrange an appointment to go over all the excellent options you have available. In less than 30 minutes, you can be well on your way to owning your own home.

John Poltrock – REMAX Mountain Properties- www.MyMurphy.com – Call us toll free at 1-866-687-7496

For Sale By Owner (FSBO) Works in Murphy NC and in the United States!

Posted by I Love Murphy on

Consumers – there’s something you’ll never hear from most real estate agents. Selling For Sale By Owner Works! Did you know that it works only 20% of the time? You can sell your property on your own and be successful, but the 80/20 rule is stacked against you. Regardless of whether its in my town of Murphy, North Carolina or the heart Washington state, 80% of sellers are unable to successfully sell their home.

Why do you ask? Think of your personal shopping experiences. Think about your largest investments. When you bought an engagement ring, where did you buy it? Where do you have your 401(k) or IRA? Did you buy your ring at a jeweler? Does a well recognized stock brokerage firm keep safeguard over your retirement portfolio? Most of you reading this will agree you work with professionals when looking to make a large purchase or investment. Some of you won’t. Either way, it is the difference between shopping at the Mall and shopping at the Flea Market.

National Association of Realtors (NAR) Statistics show 90% of buyers work with an agent. That’s a lot of buyers. The others look FSBO because they’re looking to buy cheap just like you would look on eBay. They don’t go to FSBOs to spend top dollar because they want to save money just like they would at the flea market! You should want quality buyers who are willing to go to the jeweler to find the perfect diamond. With a Realtor, you won’t have to worry about marketing, signage, market statistics, deed preferences, contracts – any of that.

For Sale By Owner does work. You must ask yourself – do I want top dollar? Do I want to sell as quickly as possible? Do I want help from someone who knows the tricks of the trade? If the answer is yes, find a qualified Realtor. I’d be happy to refer you to a great agent in your area if you don’t know one.

Now ask, Do I want to give someone a good deal? Sell cheaply? Go through all the marketing process? Price my home by what the neighbor says he sold it for? Hope the buyer who might come up doesn’t walk because there’s nothing to hold him? If you answer yes to that, try to sell your home yourself. Try it for a while, but when you see a poker player, ask him or her if they’d go all in on a 20% chance.

John Poltrock – The Poltrock Team – REMAX Mountain Properties – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us toll free at 1-866-687-7496