Jeff & Paulia Kennedy, REALTORS

First Impressions Make a Difference!

Jeff, Paulia & Debi -- The Kennedy Team — Tue, 27 Jul 2010 23:05:00 GMT

In today's market with inventory levels so high, it's so important to have your listings shine! While we believe it's so important to make the most of the first impression when our listings are getting shown, we normally try to go the extra step and prepare many of our vacant listings for the showing agent prior to their arrival. While there's a team of us with 3 full-time Realtors and an assistant, it does seem to help with this style of practice. Today, this practice really seemed to pay off. This morning, our team received a two hour notice of a noon showing of one of our really nice waterfront condos. So 30 minutes prior to the showing agent's appointment, our team partner, Debi made a visit to the home and prepped the home as we often do. Debi turned all the lights on, opened all blinds to show off the lake view, swept the front porch, and made sure the home was all tidy. Shortly after the showing agent and his clients made their visit, Debi called the agent to follow-up on feedback, and also let the agent know that she would be happy to close down the home so he didn't have to worry about it. The agent's first response was "Wow, I can't believe you did all that just for me and my clients!" He then shared a little more information about his other showings and the difference our prep work made with his clients. He mentioned that as he showed another condo in the same complex listed by another Realtor, he and his clients walked into a dark condo with all blinds closed and they were not impressed with the other condo. Then when he and his clients walked into ours, they couldn't believe the difference with the light & airy feel with a huge view of the lake that they immediately noticed the minute they walked in. He said they absolutely loved our condo and he then raved about all the details of the home. This positive feedback made our day, and was a nice reminder that going the extra step really does pay off ... Now, let's keep our fingers crossed that our client is the one that receives the offer!

Trend Setting in Hot Springs with CARMLS....

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 01 Jul 2010 04:36:00 GMT

..... Will the other Firms Copy Us?

Back in April of this year, we announced the news about our added service with First Choice Realty offering a huge benefit for our sellers! In case you missed it, we thought we would re-post the news. We're still so excited about this added benefit for our clients now with First Choice Realty!!!

First Choice Realty has joined “CARMLS” – the Cooperative Arkansas Realtors Multiple Listing Service. You’re probably wondering “what does that mean to me”? It means that we have have broadened our marketing plan for our sellers by increasing the exposure to our sellers’ properties by at least 10 times thru this system. This gives our sellers a huge advantage over the competition homes on the market that are listed with other firms in the area. Our sellers’ properties will now be marketed to about 3,500 Realtors throughout the state of Arkansas versus only about 350 Realtors in the city of Hot Springs with our Hot Springs MLS. Then if you think about how many clients each Realtor has, we may have actually increased the marketing of our sellers’ properties by much more than 10 times!

In keeping with the philosophy of placing our clients first, First Choice Realty realizes that limiting the marketing services for our sellers’ properties to only the Hot Springs Realtors thru the Hot Springs MLS is a trend of the past. In 2009, the Hot Springs MLS data reported that almost $13 million in residential sales in the Hot Springs area were sold by “non-mls residents” – or Realtors who hold Arkansas real estate licenses and are not members of the Hot Springs MLS.

While CARMLS has been a hot topic among the Hot Springs Realtors recently, we have found that many of the other real estate firms in the area have mixed feelings opposing it. Our beliefs lean strongly in favor of CARMLS, as we believe it is a huge benefit for our clients. In fact, we felt so strongly in favor that it was a key factor which prompted our recent move to First Choice Realty.

In addition, you will now be able to list property in another area of Arkansas with us at First Choice Realty and we will be able to market your property to the full state of Arkansas, and the same goes for purchasing homes in other areas of the state.

We’re really excited about this new service for our clients. If you are thinking about selling your home and would like to know more, we would be glad to visit with you and share all the details.

Hot Springs Summer Market Update

Jeff, Paulia & Debi -- The Kennedy Team — Fri, 25 Jun 2010 19:10:00 GMT

You may have heard the rumor that the new "Cap and Trade" Climate change bill in Congress requires a homeowner to license their home prior to selling it.

The truth is, there is no requirement in the law to license a home before it can be sold. In addition, there is not a requirement to make a home more energy efficient before it can be sold.

Want Proof? Here you go...

On a more personal note, our local real estate market is doing fairly well, and the most recent statistics indicate a stabilized market in Hot Springs. The total number of home sales for last month (102) was very close to the previous month of April (106). In addition, the inventory level was also about the same as the previous month, and for the first time this year - that inventory number (number of homes on the market) did not increase significantly. For the full details, click here for the monthly market update.

Hope you are having a great time this summer and looking forward to the 4th of July. We'll continue to keep in touch.

Wealthy spending again on luxury homes

Jeff, Paulia & Debi -- The Kennedy Team — Fri, 25 Jun 2010 18:39:00 GMT

... Two home sales, each exceeding $45 million set U.S. records for 2010

In April, Texas Energy executive Kelcy Warren purchased a Colorado property for $46.5 million. Hot on the heels of this transaction, an un-named Indonesian buyer purchased a 48,000 square foot Bel-Air mansion for an amount reported to be close to $50 million in June. Although seller, Mohamed Hadid wouldn’t release the sale price, he confirmed that it was in excess of the previous record of more than $46.5 million set this spring in Colorado, falling between $50 million and the asking price of $72 million. In Los Angeles County, sale prices can take more than a month to appear on the public record. The Los Angeles sale will now set the newest record for this year’s priciest residential transaction. Some Realtors speculate that these transactions illustrate a return of the wealthy to the upper-tier housing market.

Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing – which trains agents in the luxury market and awards an international designation to the most successful –reports that, “Institute members from many markets across the country are telling us that buyers at the top of the market are looking again and that many are cash buyers. We believe this anecdotal evidence may herald the return of the very affluent to the national residential market.” But is this the case in our local market?

The upper tier market in Hot Springs is also experiencing an up-tick. Our local luxury market starts at $800,000 in Hot Springs. Inquiries and showings are up in the $800,000 and above market and that’s a good sign. What’s more, when our market was at its peak in 2006 and 2007 - there was an average of 12 luxury home sales per year in Hot Springs. In 2008, that number began to slide slightly to 9 luxury home sales with the largest sale in 2008 listed and sold by the Kennedy Team. Then the sales dropped significantly in 2009 to only 2 luxury home sales with the Kennedy Team selling the largest sale in 2009. As of June of 2010, there have already been 2 luxury home sales in the area with the largest sale this year sold by Rick Goff, Realtor/Owner of our firm, First Choice Realty. We believe this is a good sign of the market starting to pick back up. Many local upscale homes are such good values that smart buyers should reappear very soon.

“In the recent economic downturn, the wealthy experienced substantial drops in their portfolios and felt the uncertainty of global economic conditions, said Moore-Moore. “As a result, the luxury market shrank across all product and service categories, including housing. In addition, many wealthy converted investments to cash and have been watching and waiting on the investment sidelines. Today, many are looking at U.S. home values and deciding to buy another residence as both a lifestyle decision and a portfolio play. Although the current turmoil in global economies is a wild card which could change things, we think the luxury home buyer is re-entering many market and shopping for fabulous homes as smart investments.”

For more information regarding the luxury home market in Hot Springs, please feel free to give us a call.

Hot Springs Market is on the Rise

Jeff, Paulia & Debi -- The Kennedy Team — Tue, 25 May 2010 16:40:00 GMT

Good News! Many indicators show that our local real estate market is on the rise. Our web hits at two of our web sites sky-rocketed yesterday, and we received an increase in inquiries to many of our listings. Sales also increased last month, and we're busier than ever. Click here for the latest update on the Hot Springs market, and we'll continue to keep you posted. If we can help with the sale of your home, please feel free to call or email us anytime. We're always glad to help!

Make a Customer, Not Just a Sale

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 06 May 2010 20:10:00 GMT

“There came a time when the risk to remain tight in the bud was more painful than the risk it took to blossom,” a famous quote that hit home with our team as we began preparing our business plan for another challenging year in the real estate market.

Today marks our two month anniversary with First Choice Realty, and we are still so excited about this new venture. First Choice Realty was exactly what we were looking for!

With a business based primarily on referrals and repeat clients, our team felt that a “boutique-type” firm such as First Choice Realty would be the perfect fit for our style of business with its personalized style of practice. At First Choice Realty, we prefer to “Make a customer, not just a sale”.

As the real estate industry has become very fragile over the last few years, we discovered that our clients were seeking more personalized service with their many different needs that came about from the changes in the industry. Buyers are now faced with many more challenges in obtaining loans – which in turn requires more hands-on guidance and help from their Realtor. Vacation property owners are seeking other options with property management services. Sellers need more direct attention and guidance with pricing strategies, staging, home improvements, and continuous information about the market conditions throughout the listing period. Clients want to know that the whole firm is working for them.

With the boutique-style firm at First Choice Realty, here’s the difference you will see:

A philosophy of “Your listings, your leads” which means that the leads that come into the office for your home will go directly to your listing agent instead of the floor duty agent. After all, your listing agent is the agent who is most knowledgeable about your home and will have the best chance at selling your home.
An office filled with real practitioners in the real estate industry, who understand the needs of investors. Together, the 9 Realtors of First Choice Realty own over 125 investment properties of all types, i.e. residential single family homes, vacation condos, apartment buildings, commercial buildings, etc.
Warm office environment with a serene and peaceful setting with a view of Lake Hamilton.
In-house builder known for first-class architecture and construction.
Property management services for our current clientele of vacation homeowners
Leaders promoting “entrepreneurship” among the Agents of the firm, with a support and encouragement of advanced education in the industry as well as support and promotion of Independent Professionals.
Close-knit group of top producers in the industry.
Professionals with advanced knowledge and education in marketing skills and techniques.

First Choice Realty has established an unrivaled customer service experience. If you’re in the area, we welcome you to drop by to see us anytime at 4915 Central Avenue, Hot Springs, Arkansas. Or feel free to give us a call at 501.655.6247 (Jeff) or 501.276.4446 (Debi) or visit us online at www.BestofHotSprings.com

Expanded Services with First Choice Realty

Jeff, Paulia & Debi -- The Kennedy Team — Mon, 26 Apr 2010 01:43:00 GMT

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Now, with First Choice Realty we are able to offer a huge advantage for our sellers, and we’re really excited to share the news with you!

We’re really excited about this new service for our clients. If you are thinking about selling your home and would like to know more, we would be glad to visit with you and share all the details.

Market Update in Hot Springs, AR

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 08 Apr 2010 01:47:00 GMT

While reviewing the latest statistics for the Hot Springs real estate market for the month of March, we were pleased to see a significant increase in the number of sales for the month. According to the Hot Springs Board of Realtors mls data, there were 76 homes sold in March, as compared to only 48 homes sold in February. Click here for more details on the full report.

While the market seems to be picking up with the Spring buyers, we also wanted to touch base with you on our marketing plan for our home sellers. We're really excited about some additional marketing benefits that we will be able to offer our sellers in the next week or so with First Choice Realty. It will offer sellers a huge advantage over the competition homes in the area. Stay tuned for more details coming soon.

According to the National Association of Realtor's Homebuyer Profile Report for 2009, more than 90% of all homebuyers start their home search online. With this in mind, internet marketing is always our top priority in marketing our sellers' properties!

In addition to our competitive marketing plan for our sellers, we also offer each of our sellers access to their online "seller reports". Many of our sellers love this feature, as they are able to review all the activity on their home, ie. the number of web hits on their property, an overview of many of the online sites where their property is being advertised, information on the showings of their property, additional notes about our continuous marketing of their home, and much more.

If you or someone you know is interested in selling a home in the Hot Springs area, please feel free to call or email us anytime. We're always glad to help! (Not intended to solicit currently listed properties)

Hot Springs Market Update for January

Jeff, Paulia & Debi -- The Kennedy Team — Wed, 10 Feb 2010 04:16:00 GMT

Thought you would be interested in the latest news on our current market conditions. While, we noticed more buyer activity with phone calls, email inquiries and increased showings on our listings during the month of January - the actual report of sales stayed the same as the previous month of December. We believe this is a positive sign of some stability in our Hot Springs market and we'll start to see the sales begin to rise again in the spring. We are also experiencing the normal trend with an increase in sellers placing their homes back on the market and increasing the inventory levels. Click here for the detailed report.

Great Time to Buy!

Jeff, Paulia & Debi -- The Kennedy Team — Fri, 05 Feb 2010 22:00:00 GMT

The Clock is Ticking...
Extended and Expanded Tax Credit Expires 4/30/10

For prospective buyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts as huge tax credits are about to expire. Here are important details for you to know:

Tax Credit for First-Time Home buyers
First-time home buyers may be eligible for the tax credit. The credit is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Tax Credit for Current Homeowners
The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What Are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the time lines available.

What's So Great About a "Tax Credit"?
The benefit of a tax credit is that it's a dollar-for-dollar benefit, rather than a "tax deduction", or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time home buyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.

It's also important to note another upcoming deadline as the Federal Reserve winds down a program that has been keeping home loan rates artificially low. The fact is that the lowest rates of 2009 were driven down to their attractive levels because of the Fed's Mortgage Backed Securities (MBS) purchase program, which the Fed once again emphasized in its January 27, 2010 Rate and Policy Statement will end on March 31, 2010. As the Fed's program winds down and ends, rates could rise over time since MBS will have less support from the Fed.

If you have any questions regarding the tax credit, please pick up the phone and call us. We're here to help you take advantage of one of the greatest opportunities home buyers may ever have.

Hot Springs Market is Heating Up

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 14 Jan 2010 22:20:00 GMT

Hot Springs Market is Heating Up

A Winter Chill ... not just in temperatures, but also in home sales in Garland County has taken over for a while. Click here for the full details on the latest market statistics for December, and take a look at the overall picture of home sales for our area over the last few months:

However, the good news is - The winter chill may be gone for now. Buyer Activity has picked up significantly as of January 1, 2010. As of the first of the year, we have been extremely busy, showing properties to qualified buyers in town, and many of our listings are getting increased showings from other Realtors. The showings are ranging from $25,000 to $5,000,000, which is a wonderful sign (not just the low-end price for first-time home owners - which has been the norm for a while). Buyer email inquiries are HOT, with many of the buyers that we've been working with for many months are now starting to say that "I may have my home sold, and I'm getting ready to move to Hot Springs now".

While this sign is very encouraging, let's make sure that we don't take it for granted and sit back and relax. Now's the time for sellers to get busy. Think like a buyer -- spruce up your home and make sure you're prepared for a showing appointment at all times. Best wishes for a wonderful 2010 from the Kennedy Team!

Advantages of Selling a Home at this Time of Year

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 10 Dec 2009 21:13:00 GMT

This time of year, homeowners often wonder if it is wise to have their home on the market during the holiday season. There are several advantages for selling a home during this time of year. 1) Statistics show that there are fewer homes listed during this time; therefore, there is less competition for home sales, and a home has the potential to receive more exposure. 2) Buyers may have more time off from work to shop for a home during this time and are likely to buy quickly in order to move in before the holiday – or – they may have accounting/tax reasons for closing on a new home before the year-end ... and we have noticed a new flurry of buyers over the last week 3) Interest rates are still very low, the $8,000 first-time home-buyer’s tax credit has been extended, and an additional $6,500 tax credit is now available for other home buyers.... which is an awesome combination for qualified buyers!

In addition, we just reviewed the market statistics for our area, and we would like to share it with you. At the end of November, the total number of active single family home and condo listings on the market in Garland County was 1,307 – a significant decrease from the two previous months (Oct – 1,355 | Sept – 1,423). We consider this positive news for sellers, as we watch more and more sellers continue to withdraw their listings from the market during this time of year. However, while the inventory is steadily decreasing, we also noticed that the home sales dropped slightly in November to 59 total units sold in Garland County during this month, as compared to 78 total units sold in October and 74 total units sold in September of this year. For more details, please click here to review our monthly market update or you may review this report anytime, by clicking on the “Get the Latest Market Update” button on the lower left-hand side of our website.

Hot Springs Arkansas Market Update

Jeff, Paulia & Debi -- The Kennedy Team — Mon, 02 Nov 2009 22:29:00 GMT

Just finished reviewing last month's statistics for home sales in Garland County, and thought you would be interested in an update. Home sales stayed exactly the same in October as compared to the previous month with 66 total sales. The condominium sales rose slightly in October with 12 total condo sales, as compared to only 8 total sales the previous month.

While the total number of home sales rose only slightly, the better news is that the inventory level dropped significantly - from 1,423 to 1,355 total homes actively on the market. This tells us that some of those sellers "that really don't have to sell" may have taken their home off the market for the fall - which in turn helps reduce the competition for our sellers, and also helps balance the market. Although the scale is still heavily tipped in favor of the buyers at this time, we consider this a positive sign of the market.

Please click here for the full details of our local market. We prepare this report monthly and post it on our site, so you may view the report anytime by visiting www.BestofHotSprings.com and then clicking on the "Get the Latest Market Update" button on the left-hand side of the menu.

Senate Likely to Extend Homebuyers Tax Credit

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 29 Oct 2009 21:31:00 GMT

There is some positive news brewing these days for the real estate industry, and we're keeping our fingers crossed that things continue to move forward in this direction very quickly. We are receiving news that the original credit in the stimulus bill for the first-time homebuyers may be extended, AND the extra good news is that the bill may offer additional assistance to "move-up" buyers.

The current first-time homebuyer credit is set to expire at the end of November and the Senate sources told CNN they have tentatively agreed to extend that $8,000 credit for first-time buyers until the end of April. In addition, they are adding a $6,500 credit for some current homeowners who buy a new residence by then. For the full article from CNN, Click here.

p.s. Remember to set your clocks back this Sunday, November 1st.

Decorating for the Holidays when Selling your Home

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 22 Oct 2009 01:53:00 GMT

With the second most decorated holiday right around the corner, we thought it would be a great time to discuss a home staging issue that comes up each year... Should a home seller put up holiday decorations?

Typically, sellers should use VERY little or NO decorations for ANY holiday. WHY? Well, for this simple reason... when selling a property the house is to be the "star" not the stuff.

It is a fact that a house holds the greatest appeal when it is neutral. This makes it easier for a buyer to map their lives into a house that is for sale. If a holiday is not a part of the buyer's life, then the decorations are no longer neutral and they then become a distraction.

But even if you suspect that most likely the buyers looking at your home do celebrate the holiday you want to decorate for... the decorations can be a distraction. Holiday decorations, by design, are made to stand out from the ordinariness of our lives and to be looked at. The time a buyer allots to look at a home is short and precious... having it used up looking at decorations is not the best use of it when in reality the house is what they have come to see and are considering buying.

So, if you insist on putting up decorations for upcoming holidays, we strongly recommend that those decorations then be taken down immediately. Ideally, the day after the holiday.

These home staging tips are compliments of Center Stage Design. Let's work together at setting the stage for selling your home.

Buyer is interested in Purchasing a Home at Hamilton Pointe

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 22 Oct 2009 01:25:00 GMT

Hamilton Pointe condominiums are still a hot commodity in Hot Springs. This unique community has all the amenities that attract investors ... prime location, flat ground with very few steps, panoramic lake and mountain views, covered parking, covered boat docks, strict covenants, gate guarded entrances, pool, large private outdoor decks, and great floor plans.

If you currently own one of these homes at Hamilton Pointe, and you are thinking about selling your home, we would love to talk! We have a buyer who is very interested in purchasing a home in this neighborhood, and hopes to make a purchase before the end of the year. Please call us today! 501.655.6247 Jeff or 501.276.4446 Debi.

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Jeff, Paulia & Debi -- The Kennedy Team — Fri, 02 Oct 2009 03:34:00 GMT

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Hot Springs Market Update

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 13 Aug 2009 20:54:00 GMT

Thought you would be interested in a market update. As we reviewed the market statistics for the month of July, here’s what we noticed – the total number of single family homes sales increased in July with a total of 77 sales during that month – which was a significant increase over June’s total number of sales at 53. While this seemed to be a sliver of good news, the current inventory level of single family homes actively on the market for sale is at 1,111. Yes, this means there’s huge competition out there for our sellers, still making it a strong Buyer’s market. In this kind of market, competitive pricing seems to be the biggest factor.

While single family home sales picked up in July, the condo market stayed about the same. There were a total of 13 condos that sold in July (which was about the same number as the previous month). The total number of active condos on the market is 384. While the summer months are normally the peak season for condo sales – we are seeing this market suffering the most with the lack of expected sales during this peak period, which is also having an affect on the sales prices. Unfortunately, we are seeing the values for waterfront condos continuously decreasing this year.

Our website tracking reports are also very good indicators of our current market, and we are pleased to report that we had a record breaking number of total hits for the month of July. This was the first month that we have received hits over 100,000 and the total figure was 122,647 total hits for that month. This figure tells us that the real estate market is very active – with buyers hovering, reviewing, researching, and continuously thinking about the real estate market. While this number peaked in July, the month of August has started to slide downward in hits. We’re hopeful that this is only part of the normal cycle that we see every year with summer coming to an end, vacations slowing down, and the kids preparing to start back to school. In a normal market in this area, we tend to see this three week slow down in August every year.

As we continue to watch the trends of our market, we’ll keep you posted. Click here for an overall view

Real Estate is Selling in Hot Springs!

Jeff, Paulia & Debi -- The Kennedy Team — Tue, 30 Jun 2009 03:53:00 GMT

The Kennedy Team of Trademark Real Estate, Inc. ranked No. 3 in the state of Arkansas in Residential Real Estate Sales Teams with $22.42 million in total sales in the Hot Springs area in 2008. Trademark Real Estate, Inc. ranked No. 10 in the state of Arkansas with $123.29 million in total sales in the Hot Springs area in 2008, as reported by the Arkansas Business Journal.

While the real estate market has shifted significantly to a buyer’s market and the lender guidelines have changed considerably, it's critical to provide a competitive edge for our clients. Advanced education, interactive web site, and good communication systems are the key elements for performing in a changing market. Every market goes thru cycles and the market shifts with the supply and demand concept. Being prepared means paying close attention to the indications of a shift, and being ahead of the shift instead of following the shift.

In a heavy buyer’s market, proper pricing to a must. The homes that sell are homes that are priced ahead of the shift. If the seller fails to price accordingly, they will end up chasing the shift downward, which could be much more costly with continuous maintenance fees, insurance, property taxes, etc. in a market that is volatile.

Slight increase in Real Estate Activity in Hot Springs

Jeff, Paulia & Debi -- The Kennedy Team — Thu, 18 Jun 2009 18:25:00 GMT

The Real Estate activity is starting to pick up slightly in Hot Springs. The web hits to our primary website at www.BestofHotSprings.com broke another record this week. This site received about 35,000 hits over the last 7 days. At this rate, we hope to hit 100,000 hits for the month of June which is another new record for activity. This means that we are receiving maximum online exposure to our listings at this time, and our marketing tactics are working.

While the market activity is increasing, it’s critical for sellers to take advantage of this peak in the real estate market, and capture the buyers while they are hovering around. Now this doesn’t mean your Realtor can do it alone …. If you’ve been putting off mowing the lawn, sprucing up the front entry, cleaning up the pool, or making those necessary repairs – please get moving now! There are tons of homes on the market now competing with your property, and it’s critical that your property stands out among the others.

While condition is critical, pricing is also another major factor! If you’re serious about selling – now is not the time to overprice your property. If your property is overpriced, the buyer may skip right on to the next one. The good news is that even though you may have to sell low at this time, you can also buy low on your next investment!

Let’s all work together and get things moving!

Good News and Bad News for Luxury Home Owners

Jeff, Paulia & Debi -- The Kennedy Team — Fri, 29 May 2009 19:18:00 GMT

While the real estate market has seen many changes over the last couple of years, it appears that the luxury market is facing even greater challenges. While it has become more difficult to sell a luxury property, it is still possible and we are able to get it done!

Here’s the Bad News … The luxury market is facing increasing pressure, aggravated by credit market difficulties in the jumbo mortgage market. As a result, The National Association of Realtors reported that the share of home sales above $750,000 has fallen from 4.4% of total home sales in 2007 to a projected 2.3% of total sales in 2009 (NAR Projection based on partial year statistics).

Limited loan availability, higher than usual interest rates for jumbo loans (from 150 to 200 basis points higher than conforming loan rates), and stringent loan qualifying requirements have slowed sales of luxury properties. This has caused the national inventory level of homes priced above $750,000 to rise from 18 months worth in 2007 to more than 40 months worth as of the second quarter of 2009.

The lack of refinancing opportunities, fewer qualified buyers for luxury homes, a growing inventory of unsold luxury homes, and an economy in recession are all creating the “perfect storm” for luxury homeowners who need to sell and can’t. NAR also reported that as of October 2008, the foreclosure rate on jumbo loans was more than double the rate on conforming loans.

Here’s the Good News … While the above facts are creating greater challenges for us, as Realtors who consider the luxury home market our forte, we are steadily looking for options for our luxury home owners in selling their property.

In fact, we made a trip to the closing table today, representing the seller of a luxury waterfront home today, with a selling price of $1,100,000 here in Hot Springs.

One of the most critical bits of criteria for this home sale was the fact that this luxury home had all the basic necessities – meticulously maintained, in perfect condition, appraised for the selling price or better, and had a great location. Knowing that we had a great home that we believed would pass the inspection and appraisal process, along with the fact that we had an extremely savvy businessman as the seller, we began to look at options for him and his wife.

We knew that our seller’s first interest was to sell the home outright and move on. However, in this difficult market, we realized the chances of that were getting slimmer based on the facts mentioned above. We began to discuss the “trade” option to our seller, as we believed that this would be an option for our savvy seller to reach his final goal more quickly, while he sold his large luxury home, and then scaled down to a smaller, more sellable property.

We then reviewed all the previous potential buyers who had expressed any interest in the home, and believed that we had one that would love to buy the home at a fair price, but he also needed to sell his waterfront condominium (valued around $400,000) at the same time. We approached this buyer’s agent and began discussing a trade option, and to make a long story short … it was a perfect match.

The trading of real estate property does take some creative matchmaking skills and extra work, and it can be done as long as we have the two major ingredients … 1) Great property and 2) Savvy seller willing to consider options.

Internet Marketing is King

Jeff, Paulia & Debi -- The Kennedy Team — Wed, 27 May 2009 21:11:00 GMT

While it’s no secret that we’re facing a more difficult real estate market this year, we thought it was very important that we keep sellers up to date on some valuable statistics.

The “2008 Profile of Home Buyers & Sellers” provided by the National Association of Realtors again reports that 87 percent of buyers reported that they used the internet as one of several information sources during the buying process. The second most frequently cited information source was a real estate agent, used by 85% of buyers, and the third most popular source was yard signs at 62%.

The report then gives further statistics on “Where the Buyer Found the Home they Purchased”, and we would like to share the results with you for last year:

Real Estate Agent 34%

Internet 32

Yard Sign 15

Friend, Relative or Neighbor 7

Home Builder 7

Print Newspaper 3

Knew the Sellers 2

Home Magazine 1

Notice the above report shows the top three sources are Real Estate Agent, Internet and Signs. Then print advertising, such as newspaper ads & home magazines are at the bottom of the list, while Open Houses did not even rank on the list.

As we constantly review & evaluate our marketing strategies on a daily basis, we use the above statistics as the most important source for developing our marketing plan.

With today’s consumers spending more and more time, keeping up with the fast-paced world of technology, along with their growing interest in a “Green” world, we believe it’s critical to relate to the consumers of today.

Since the numbers tell the tale, INTERNET MARKETING is our top priority! While print marketing continues to lose with consumers, we are also making adjustments as we move forward. Our style of print marketing has shifted to a focus on being different and standing out! You won’t find us following the same style of the others, displaying little box pictures of a home in the homes magazine, just because that’s what everyone else does. We use a graphic artist to design an eye-catching full page ad, with the intent of the ad to bring the buyer to us and/or our website. This provides us with the best opportunity to capture the buyer and bring them directly to your home or our site for a tour of your property.

We all have the same goal, so let’s work together to beat the competition and get your property sold first!

Should I Rent or Should I Sell?

Jeff, Paulia & Debi -- The Kennedy Team — Mon, 04 May 2009 03:28:00 GMT

We would like to share our thoughts and tips on the topic….

If you’re really serious about selling your home, we suggest that you stay focused on selling your home, and never compromise the selling process by placing tenants in your home while it is on the market for sale. Selling and renting rarely go together - unless your home is more marketable as a vacation home and the rental history would be appealing to a vacation home buyer such as a waterfront condominium.* If you choose to lease your home - you’ll want to keep good rental records and offer those to your Realtor to have on file during the selling process.

In addition, you’ll need to make your tenants aware that your home is currently listed for sale, and there will be Realtors dropping in and out without a lot of notice. Explain to them that it’s important to keep the home tidy at all times, and advise them not to leave any valuables lying around while the Realtors and their clients tour the home. Now, after you’ve reviewed all of this with your tenant – how do you think they will respond? Most likely, not very favorable!

Tenants could care less if your property sells, as they will be inconvenienced with an unscheduled move. Some tenants may try to sabotage a sale by leaving the place a wreck for showings, which will most likely result in a poor showing experience by the Realtor – which may then cause your home to be scratched from that Realtor’s list for any future showings. The tenant may also refuse to allow showings or make it very difficult for Realtors to show your home – again resulting in the Realtor possibly scratching your home from their list for future showings.

How do you feel about pets or smoking in your home? Well, often times a tenant will have a pet or a smoking habit and they could care less about the residue left in your home. After all, it’s not their home & they aren’t responsible for repairs.

Convinced yet? If not, then here’s another experience that we would like to share. We have a client that decided to purchase a home (purchased for $145,000) here in Hot Springs for rental use while the client lives many miles away in California. The client then found a “nice” renter that appeared to be neat, clean, responsible and all the things you look for in a tenant. The tenant then leased the home for a two year period. The tenant was very good with making the rent payments in a timely manner and never complained about any maintenance problems. When the tenant decided to move out, the client then called us to check on the home, as she planned to sell it. You can’t imagine what we found when we walked in. The home was an absolute wreck! The tenant had failed to take care of any maintenance issues and allowed an ongoing water leak to continue in the bathroom for months. The bathroom floor was totally rotten, with a large hole in the floor – where you could actually see the dirt ground below. All of the walls were scarred & filthy; the ceilings were brown from cigarette smoke; the carpets had stains everywhere, and everything was filthy! We then began to get estimates for the out-of-town client for all the repairs. The estimates totaled around $15,000.

Now, with all that said – we are NOT advising against purchasing property for rental use, as we also own multiple rental properties that we plan to keep, and we believe that rental properties are a great investment (as long as you watch over them closely).

Our advise is that you think seriously about your desires for either selling your home - or renting your home, but please do not mix the two (*unless you fit the exception mentioned earlier).

The Kennedy Team, REALTORS

Trademark Real Estate, Inc.

www.BestofHotSprings.com

DEBI PARTICIPATES IN LOCAL FUNDRAISER AS AN AUCTION ITEM

Jeff, Paulia & Debi -- The Kennedy Team — Mon, 04 May 2009 01:13:00 GMT

Debi Jones of the Kennedy Team volunteered as one of the auction items in a local fundraiser for the American Cancer Society sponsored by Reed Plumbing last week. While Debi was glad to help with a good cause, Debi knew that it would be an interesting evening when she agreed to be one of the Bachelorettes to be auctioned off to an unknown bidder. Jeff and I (Paulia) attended the big event and enjoyed the show of Bachelors & Bachelorettes as each paraded across the stage, anticipating who would be their next date. When it came Debi’s turn on stage, Debi turned beat red as she stood and watched two nice gentlemen begin a bidding war for her. Glenn Wilkins wound up as the lucky winner with a date with Debi, and the American Cancer Society appreciated the generous donation he made.