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January 13, 2015
1
CHAMBERSBURG OFFICE SALES
MEETING
ToolKit CMAWebinar
Getting Buyers Offthe Fence
2014 MarketStatistics
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MORTGAGE UPDATE
Don Clawson
Loan Officer
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2014 MARKET STATISTICS
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2014 MARKET STATISTICS*
Closed Sales
2013
2014
1,370
1,400 +2.2%
Median Sold Price
2013
2014
$150,000
$151,000 +0.7%
New Listings
2013
2014
2,320
2,512 +8.3%* MRIS Statistics from Franklin County
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THE LISTING FROM HELL
• Basement – Finished but with
no building permit
(Apply for a building permit)
• Driveway – Portion is on
adjacent lot
(Easement by Prescription if
21 years)
• Front Corners of House –
Encroach on building setback
(Apply for a variance)
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TOOLKIT CMA
NO MORE MONTHLY FEES!!!
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TOOLKIT CMA
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TOOLKIT CMA
Presentations
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TOOLKIT CMA
Property Flyers
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TOOLKIT CMA
Wednesday, January 14 @ 11:00 AMRegistration e-mail coming TODAY
Live Webinar
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ACCOLADES
Getting Buyers Off
the Fence
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WHAT YOU HEAR . . .
• Wait till after the New Year
• Wait till kids are out of school
• Wait for interest rates to come down
• Wait till the economy improves
• I heard it’s difficult to get a mortgage
• I want to accumulate more money for a down payment
• Wait for Jupiter to align with Mars in June of an odd
numbered year
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WHY BUYERS STAYON THE FENCE
Fear
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WHY BUYERS STAYON THE FENCE
Greener Grass
Syndrome
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WHY BUYERS STAYON THE FENCE
Lack Perspective
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WHY BUYERS STAYON THE FENCE
Can’t Find What
They’re Looking For
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WHY BUYERS STAYON THE FENCE
Tire Kickers
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WHY BUYERS STAYON THE FENCE
They aren’t dealing with a Pro
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WHEN BUYERS HAVE A STRONG ‘WHY’, THEY BUY
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GALLUP POLL: WHAT IS THE BEST LONG TERM INVESTMENT?*
* Economy and Personal Finances Poll
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WHERE ARE MORTGAGE RATES HEADED?*
* Freddie Mac 30 Year Fixed Rate
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WHERE ARE MORTGAGE RATES HEADED?*
* Freddie Mac 30 Year Fixed Rate
• What does that mean?
Mortgage Interest Rate Payment
Today $150,000 4% $716.12
Next Year $150,000 5% $805.23
Difference in Monthly Payment + $89.11
Monthly Annually Over 30 Years
$89.11 $1,069.32 $32,079.60
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WHERE ARE PRICES HEADED?*
* Home Price Expectation Survey
• Estimate of cumulative house appreciation by 2019
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WHERE ARE PRICES HEADED?*
* Home Price Expectation Survey
• What does that mean?
$150,000Average Sales Price
15.1%Appreciation Rate (Bear)
$22,650Appreciation
$471.87Appreciation per Month (48 mos.)
• Waiting costs $470/month
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HOMEOWNERSHIP’S IMPACTON NET WORTH*
* Federal Reserve
Homeowner’s net worth . . .
36X. . . greater than Renters
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5 FINANCIAL REASONSTO BUY A HOME*
* Harvard University; The Dream Lives On: the Future of Homeownership in America
1. Housing is typically the one leveraged investment
available
• Homeowner can borrow money to invest in a home
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5 FINANCIAL REASONSTO BUY A HOME*
* Harvard University; The Dream Lives On: the Future of Homeownership in America
2. You’re paying for housing whether you own or rent
• Percentage of income needed
to afford median rent
• Percentage of income needed
to afford median home
29.5%
15.3%
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5 FINANCIAL REASONSTO BUY A HOME*
* Harvard University; The Dream Lives On: the Future of Homeownership in America
3. Owning is a form of “Forced Savings”
• People have a tendency to defer savings
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5 FINANCIAL REASONSTO BUY A HOME*
* Harvard University; The Dream Lives On: the Future of Homeownership in America
4. Substantial tax benefits to owning
• Mortgage interest and property taxes are tax
deductible + + + capital gains exclusion
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5 FINANCIAL REASONSTO BUY A HOME*
* Harvard University; The Dream Lives On: the Future of Homeownership in America
5. Owning is a hedge against inflation
• Housing costs have tended to go up at or higher
than the rate of inflation
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WHY DO PEOPLE BUY HOMES?*
* National Association of REALTORS: 2014 Profile of Home Buyers and Sellers
All
Buyers
First-time
Buyers
Repeat
Buyers
Desire to own a home of my own 24% 53% 9%
Job-related relocation or move 9 4 12
Desire for a home in a better area 8 2 11
Change in family situation 8 5 9
Desire for larger home 7 1 10
Affordability of homes 5 8 3
Desire to be closer to family/friends/relatives 3 1 4
Retirement 3 * 5
Establish a household 3 7 1
Desire for smaller home 3 * 4
Financial security 3 6 1
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WHY DO PEOPLE BUY HOMES?*
* National Association of REALTORS: 2014 Profile of Home Buyers and Sellers
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ACCOLADES
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LISTINGS/BUYER NEEDS
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ABOUT THE PRESENTER
Tom Blefko is a real estate broker with over thirty years
experience in all facets of the residential and commercial real
estate industry including sales, leasing, office management,
property management, development, construction and
training. During the course of his career, he has been an
award-winning salesperson and assisted other agents in
negotiating and closing over one thousand real estate
transactions.
Contact Information: Tom Blefko, Associate Broker
Berkshire Hathaway Homesale Realty
Office: (717) 267-3222
Cell: (717) 587-6600
E-Mail: [email protected]
