A Better Open House

Homeowners trying to sell their Palm Beach homes already have enough to worry about what with the real estate downturn and the various economic woes the country is struggling with. Realtors, real estate websites, and pretty much any and everybody who knows a thing or two about Palm Beach real estate have been giving out advice on how to achieve a successful sale. What they often fail to mention is how imperative the open house phase is. Take these tips into account the next time you’re planning on having buyers over to your home.

Cleanliness is next to godliness. While this may seem like a given, many sellers fail to remember that this home is being presented to strangers who will likely be inspecting every inch of the home thoroughly so take the time to really make sure the home is presentable and dust free. This includes the interior as well as the yard and the home’s exterior.

Make it feel like home. That old saying “There’s no place like home” is more or less the feeling you want to evoke in a buyer. This can be done by ensuring there are welcoming scents emanating through the home such as the aroma of freshly baked cookies or something else. The point here is not necessarily to get your guests to actually eat anything more as it is about making the home feel inviting.

Encourage a bright atmosphere. Make as much use of natural light as possible and in those spots that could use a lighter shade, also install new lights to highlight the home as a whole. After all a seller’s goal is to convince the people walking through their Palm Beach homes that they’d want to live in the place themselves so it only makes sense to showcase the home in shimmering light.

Plan to spend the day with your pet. The same way a guest can feel like they’re interrupting when visiting your home, so can a buyer if you’re hanging around the property. Plus since there may be buyers that may not like or allergic to them, it’s best to make some arrangements so that your pooch or kitty are away for the day the open house is scheduled to take place.

Fighting Economic Downturn and Reviving the Real Estate Market

While the Palm Beach real estate market has been troubled the past two years, sometimes it takes an election for public officials to do anything about it. Last month the U.S. economy saw several actions to boost economic stability and scathe off a trend of recession. The most popular plan was the Emergency Economic Stabilization Act that put together an impressive $700 billion dollars to "bailout" troubled banks. The plan was received with little confidence from consumers as stock plummeted to all time lows. However, recent meetings with the heads of state from Europe and Asia have begun to turn things around.

European economists believe the trend of economic downturn can be reversed by energizing the stagnant credit industry. The Europeans have criticized the U.S. for allowing Lehman Brothers to go bankrupt and for bailing out "toxic" lending companies. The European plan--which has been met with great confidence from America and Asia--set off rapid growth in stock markets across the world.

The real estate industry must focus on getting interest rates on mortgage lower so consumer confidence will be restore sales in Palm Beach condos and Palm Beach homes. Seventy percent of U.S. spending is used by the individual to buy food, gas and other material goods. Our society has become reliant on credit purchasing and when it is stagnant our economy will only continue to go down. So the plan to restore the credit industry seems like the right solution.

But the plans set forth by the Emergency Economic Stabilization Act and recent European advice isn't the only forces in play to assist the real estate market. Hope for Homeowners, a FHA program, launched its campaign to assist distressed homeowners last month and has begun resolving mortgage issues around the country. According to their website the Bush administration has equipped them with $300 billion dollars to provide "mortgage assistance for homeowners at risk of foreclosure".

Palm Beach Still Attracting Those Seeking Luxury Lifestyle

While overall sales in Palm Beach real estate have slowed, one area seemingly less affected have been the luxury homes and condos.

In the last three months several of our biggest sales were

820 W Ocean Ave sold for over 21 million
159 Via Del Lago sold for over 11 million
1428 S Ocean Blvd sold for over 10 million
231 Coral Lake sold for over 6 million
642 N County Road sold for over 4 million
232 Sandpiper Dr. sold for over 4 million
1006 Adam Rd. Sold for over 3 million
19647 Riverside Dr. sold for over 3 million
351 Bald Eagle Dr. sold for over 3 million
151 Seaview Ave sold for 3 million

With season right around the corner the agents at Scott Gordon Realty and Exclusive Estates are gearing up for a busy winter in our tropical paradise - Sunny South Florida!

The Present and Future of Palm Beach Real Estate

Just three years ago, if you put an offer in that was fifteen percent less than what the seller was asking for a Palm Beach home it would probably be followed by laughter. But times change and so do business markets. The current real estate market offers great opportunity for those looking to invest in real estate. Prices are thirty percent lower than they were three years ago and time-crunched sellers are eager to get their homes sold.

The real estate market has gone through a dramatic change the past several years and buyers now tend to have the upper-hand in negotiations. This doesn't mean that sellers can't adequately perform business in the market, but that they need to make concessions for market conditions. The era of inflated property values has come and gone, buyers and sellers are more interested in temperance and performing legitimate real estate transactions.

The future of Palm Beach real estate is fairly clear at this point. The demand for Palm Beach condos is low, but as property on the market is being sold to property investors and opportunistic potential homeowners the supply is shrinking. As soon as the supply of Palm Beach condos and homes reaches a specific low it will meet the demand and real estate market normalcy will resume. This is the pattern that Palm Beach real estate seems to be following at this time with the inventory of Palm Beach condos and homes slowly going off the market.

This is basically a waiting game, but the question on everyone's mind is…how long? Most economists believe we are reaching rock bottom prices right now, but that we'll probably need to wait around two years to see prices begin rising again. So if you're interested in owning Palm Beach real estate, now is the best time to invest as property values should linger around their current prices until their inevitable rise in value.