Jerry Lucius , ABR, CSP, e-Pro 

My Real Estate career with Marx-Bensdorf Realtors  has allowed me to find my niche in life as a Professional Real Estste Agent and Consultant for Memphis TN and surrounding area. Check out my diverse experience summary via Linkedin.  It's that positive interaction with people and service to others that I have enjoyed throughout my professional career.

I launched my Real Estate career May of 2002, and earned the status as Life Member of Multi Million Dollar Club Memphis Area Association of Realtors in my first five years. My goals and objectives are simple...Saving You Time and Money.

 

Primarily, the agent's job is threefold,   The Real Estate Agent is a consultant , negotiator and facilitator .   The market sets the general price for a property, but a skilled negotiator with a strategy can net you 3% to 5% or more.  Concessions and sales price can be affected favorably with good negotiation and knowing what the goals and strategies are.  Many agents have taken additional  training in the area of negotiation to sharpen that skill set.

It is truly an educational process an agent goes through in order to be successful for his or her clients. Allow me to share this knowledge learned in assisting you to market and sell your home or to assist you in finding and purchasing a home that fits your needs and lifestyle.

Specializing in:

Marketing and Condominium Sales,

New Home Construction
Fine Luxury Homes
First Time Home Buyers
Marketing and Listing Agent
Consultant and Buyers Agent
Relocation Specialist / Marketing Consultation

Individuals Selling their Home Have 3 basic questions to a Realtor

1.)    How fast can you sell my home? 
2.)    Can I get top Dollar? 
3.)    What is your fee? 

Sellers want a Marketing Plan designed to sell their home for the highest possible price, within their time frame and with the least amount of stress for them. Choosing a Realtor to market your home involves more than a "For Sale" sign on the front lawn. We provide expert assistance and knowledge during the entire process. There is no fee until the transaction is completed by offering the following:

    Consistent Follow-up and Communication

    Critique and offer suggestions on Preparing Your Home To Sell

    Represent your best interest

·   Factual Current Market Information in order to establish best price point

·   Advertising/Marketing your home with all resources available for maximum exposure
 
·   Coordinate home showings and provide feed back
 
·   Discovery and disclosure of potential buyers financing availability and loan commitment
 
·   Review and discuss all offers for purchase with homeowner
 
·   Negotiate contract terms
 
·   Coordinate  inspections
 
·   Explain and review settlement statement for closing expenses
 
·   Coordinate closing/possession 

Today's consumers (sellers and buyers) expect instant responses

Putting the consumer's needs first is imperative to success. As an industry, we often don't think about what the consumer wants.  National Association of Realtors research shows that the average REALTOR® is 45 years and older. The average homebuyer is 45 and younger. This is causing some disconnect.

For example, many younger clients don't expect REALTORS® to research homes for them. They do, however, expect instant responsiveness from their REALTOR® so returning phone calls or e-mails at the end of the day isn't going to cut it in todays new age and enviroment.

Today's average client expects REALTORS® to e-mail them or provide them online access to the contracts, reports and disclosure documents. They like transparency and taking transaction management paperless is key.

REALTOR® online reviews are becoming more popular as well. Many agents are insecure about what clients will say about them but referrals are how we get business. We work hard to build a strong reputation and it's important that we as an industry begin to realize that online reviews are happening whether we want them to or not.

Garnering younger consumers takes education, not advertising. Instead of telling consumers we have 20 or 30 years of expertise, we have to share this expertise.

Push marketing is out. Success today is related to "pull" or "attraction" marketing. We should be attracting clients by educating them on the local real estate market and demonstrating our expertise rather by advertising or broadcasting how great we are.

Performance transparency . What we do and the service we provide will be discussed openly on the Internet.

Today's customers expect us to be there all the time. Mobile applications make this possible and necessary.

More companies will go virtual.  The industry will continue to see a decrease in the need for big brick-and-mortar operations.

Transaction processing will continue to grow more efficient.  Transaction management platforms, online forms and tablet computers will make paperless transactions the norm.

Saving You Time and Money  

 

 

 

 

*Some of the data research compiled by Kim Shindle Communication Specialist

Benefits of Working with a Realtor

Ø  A Realtor is experienced in the home buying/selling process daily

Ø  The Realtor is a problem solver by offering soluttions

Ø  A Realtor is licensed and educated in Real Estate and can effectively explain contracts, addendums, HUD1 closing statements, closing costs/pre-paids and escrows 

Ø  A Realtor will ensure everything is in writing verbal communication on contracts is not valid, your Realtor also has a direct line to Real Estate Attorney' for sound legal advice.

Ø  A Realtors job is to protect your best interest and represent you that is how we get paid.

Ø  A Realtor can shoulder a lot of the frustrations and allow for a smooth and effective transaction

Ø  Your Realtor will offer sound solid advice on accepting or rejecting contingencies based on CMA analysis available

Ø  The Realtor will explain and offer options throughout the process

Ø  The Realtor today is experienced in short sales and has a good understanding of both sides buying or selling

Ø  Most Realtors are well connected with other vendors associated in your transaction offering you several options to chose from referencing, closing attorneys, home inspectors, repair person, financial institutions, appraisers, termite inspectors

Ø  Most Realtors have a full time dedicated Sales/Marketing Team

Ø  In-house Real Estate Sales & Relocation Services are common today

Ø  Realtors experience allows them to be Proactive/Not Reactive

Ø  Realtors are now fully integrated in the usage of Internet and Social Media and are becoming fully mobile with today's technology they have to be to meet the needs of Generation Xr's

Ø  Most Realtors specialize in communicating, marketing and negotiating

Ø  Today's Real Estate Agent offers consultative, conceptual and creative selling ideas

Ø  Realtors have become Marketing Agents not just Listing Agents

Ø  If you are a buyer the seller pays Realtor's commission, no out of pocket expense for buyer using this value added resource

Ø  Follow Thru, Follow Thru, Follow Thru that is the only way a Realtor get's paid

Ø  Partnering with the Homeowner or Buyer from Start to Finish

You'll Profit from Our Experience which Means to You...Saving You Time and Money  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All Homes, Sellers and Buyers are unique.  Therefore your Marketing Plan must become unique to the situation. There is no Cookie Cutter approach to success in Real Estate. However there is a benchmark for success and that is having a plan and implementing your plan. Additionally, the Marketing Plan needs to have input from all parties involved and executed by all. Following is a guideline of successful activities that I recommend being incorporated in the Marketing of Your Home.

1.)    Activities of Your Listing /Marketing Agent

 

Ø  Communication between Agent and Owners

Ø  Prepare market analysis (CMA) Recent Sales/Current Listings/Expired Listings

Ø  In-depth Analysis of Pricing Strategy

Ø  Consult with Clients in Preparing Home to Sell

Ø  Call weekly to discuss market and showings

Ø  Provide Monthly Market Service Report

Ø  Advise Client of  new sales or listings in subdivision and surrounding area

Ø  The first 3 - 5 weeks is the most important time frame

Ø  Review marketing and pricing strategy after 6 weeks if home has not had multiple showings or under contract

Ø  Familiarize Client with the Tennessee Association of Realtors Contract (TAR) Purchase and Sales Agreement, Provide assistance and advice during contract negotiations

Ø  Communication With Agents

Ø  Add listing to MLXchange within 24 hours

Ø  Schedule an in-house Agent Tour

Ø  Prepare two-sided/ tri-fold color Brochures  for interior & exterior marketing info

Ø  Call agents who show listing to obtain feedback

Ø  Notify Buyer's Agents of price changes or incentives

Ø  Set up advertising via Multiple Internet/Social Media Advertising

Ø  Take interior/exterior photos and prepare video

Ø  Place yard signs and directional signs if permitted

Ø  Schedule and Advertise Open Houses for heavy traffic weekends for Potential Buyers

2.)    Preparing Your Home For Sale

 

Ø  Tour your home and look at it through the eyes of Potential Buyers.

Ø  Recommend changes that will enhance interior sales appeal and exterior curb appeal

Ø  In today's buyer's market with a plethora of competition your home needs to show like a Model Home

Ø  Create a sense of spaciousness.

Ø  Depersonalize all rooms as much as possible remember your showing a Model Home

Ø  Add a new shower curtain, fresh towels, and new guest soaps to every bath.

Ø  Try to place the thought in Potential Buyers mind that Mr. & Mrs. Clean live here

3.)    Assistance in Negotiations

 

Ø  Negotiating a contract that will close and net you maximum dollars

Ø  Inspection Amendments and repair requests

Ø  Financing

Ø  Legal clauses

Ø  Contingencies

Ø  Stipulations

Ø   Calculating Seller's net 

Ø  Insure a legally binding contract

Ø  Multiple offers

Ø  Back-up contracts

 

4.)    Communication With Agents and Potential Buyers

 

Ø  85% of Buyers use an agent when shopping for a home

Ø  Reach Thousands of Online Buyers Through a Network of Websites

Ø  87% of Buyers use the internet when shopping for a home

Ø  www.jerryluciusrealtor.com

Ø  www.marx-bensdorf.com

Ø  www.realtor.com

Ø  www.trulia.com

Ø  www.zillow.com

Ø  www.facebook.com

Ø  www.maar.org

Saving You Time and Money 

Ready to Downsize ?   Are you Ready to Search for a 1 Story Home? You can eliminate your maintenance worries while improving your lifestyle with one of four-feature filled floor plans. At Shea Downs, home owners never have to worry about mowing, raking or watering the lawn, replacing shingles, cleaning gutters, trimming trees or edging sidewalks. All plans are on one level, the only stairs are permanent Attic Stairs to a floored attic which offers great storage. 
One Level Luxury Condo/Homes are currently available starting  $220k.

1401 Alydar was staged as a model and Sold to a Corporate Exec. Now the owner is moving and selling it 100% furnished. It even shows better now than as a  model.

Home Owners Association
    Coverage & Fees   

Full Exterior Maintenance of Condo   

Roofing Shingles down to Termite Contract.

Lawn & Flower Bed care/maintenance

Pool and Club House

Structural Insurance on Your Condo

$200 Monthly Maintenance Fee

Taxes and Utilities

Shelby County Taxes approx $2,800

Collierville City taxes approx.  $800

MLG&W    approx.   $125 to $150 per month  (Memphis Light Gas & Water)

Collierville Utilities approx. $50 to $60 per month 
      Water 
      Garbage 
      Treatment Plant
 

Standard and Most Requested Features

Single level Floor Plan

Maintenance Free Life-Style

Easy Access to Storage

Walk In Showers

Whirlpool Tubs

Lower Living Costs

Sprinkler and Security System

Close to Amenities (Shopping, Churches & Hospitals)

Attached 2 Car Garage / Security, Safety & Seasonal Comfort

High Speed Internet Access

Grandchildren Friendly Home

Luxury Design w/wide doorways

Custom Cabinetry w/pull out cabinet shelves

Walking & Jogging Trails Accessibility

Pre Wired (5) Cable TV Outlets

Pre Wired (4) Telephone Jacks

Granite Kitchen Counter Tops

S/S Kitchen Appliances

Permanent Attic Stairs to Floored storage

Vented F/Place w/Gas Logs

Club House, Pool, Fitness Ctr.

Sunroom & Fenced Patio

Double Pane Insulated Vinyl Windows w/2" Faux Blinds

Hardwood Family/Dining/Kitchen and Sun Room

Ceramic Tile in Baths & LaundryRm.

9' Plus Smooth/Vaulted Ceilings

Bull Nose Radius Corners

Ceiling Fan Mstr. Bedroom, Family and Sunroom

30yr. Architectural Shingles

1 x 8 Roof Decking

2 x 8 Conventional Rafters

Exterior Maintenance "It's All Done For You"

   

Listed & Sold by Jerry Lucius             Marx-Bensdorf, REALTORS

  1236 DuBray Collierville Tn.

       $2,500,000

                                             
 

For relaxation, fresh air, sunshine and the competitive spirit, I visit the Golf Course as often as possible. As you can see from my photo, I have a passion for Golf. However, my Real Estate Career keeps me busy with Sales, Marketing and Consultive activities. Memphis and the surrounding area host several good Public, Resort and Private Courses. Listed below are links to some of my favorite local courses.

Justin Timberlake's Mirimichi Golf   

Colonial Country Club

RTJ Golf Trail Alabama

Ridgeway Country Club    

TPC Southwind   

Germantown Country Club

Spring Creek Ranch                                                  

Memphis National

Tunica National

 

Who We Are

Marx-Bensdorf, REALTORS has been serving the real estate needs of our community for 142 years. We have developed a sustainable model that demonstrates an appreciation for the client's sense of urgency without compromising the long view. Our experience is more valuable now than it has been at any other time in our history.

To Our Clients

We recognize that today's buyers and sellers are real estate savvy. They bring more to the table than they used to. Buyers and Sellers are plugged in to news and current affairs even to the extent of participating in and shaping the news. They understand how to use the resources available online to determine which home they are interested in buying. They know how to shop for real estate. They get comparables, they ask great questions, and they are connected with other people. We call that smart.

The Modern Real Estate Professional

Our associates have made the transition from traditional methods to an Internet era and Participation Age approach to buying and selling real estate. We understand that our value comes in being connected, knowing the little things about a community not found on the listing details or public comparables, understanding the details of the transaction, and serving you. We love what we do and are committed to bringing our best effort to meet the needs of our clients.

Saving You Time and Money

Jerry Lucius

5860 Ridgeway Center Parkway Suite 100

Memphis, TN 38120

Mobile   901-355-3076

Office     901-682-1868

jerry@marx-bensdorf.com

 

Memphis Area Real Estate Listings

 

 

Active Full Time Dedicated Real Estate Agent in the following areas:
Germantown TN. Realtor
Collierville TN. Realtor

Bartlett TN. Realtor
Cordova TN. Realtor
Shelby County TN. Realtor
Memphis TN. and Surrounding Area website Info:

  Jerry Lucius Memphis and Surrounding Area Real Estate Agent

Marx-Bensdorf ,Realtors

 

Marx-Bensdorf, REALTORS is unique in that our agent's diverse background enables us to provide service from Downtown to Collierville. Our broad based coverage area coupled with residential and   land experience translates to expert representation for your real estate needs. Marx-Bensdorf relo department has assisted many clients locally as well as globally. Although we are physically located in Memphis, our service area encompasses all areas of the world, through our membership in Leading Real Estate Companies of the World,  the largest international network of independent real estate brokers. Our resources enable us to manage a single relocation or group move from start to finish.

With over 30 years of corporate relocation under our belt, we have become very comfortable handling pre-marketing, assigned sales, area orientations, property management, and all facets of corporation relocation.
Through partnering, we are equipped to manage all aspects of a move for you. Our program includes, but is not limited to:

These tools enable us to provide transferring employees with the best possible service in minimizing the trauma of moving their families, not only from the best network in the world, Leading Real Estate Companies of the World, but locally, from the oldest Realtor in Memphis, who has enjoyed a position of trust in the community for approximately 141 years.

Contact:
Eileen Cherny, CRP, GMS, RCC, WRS
Vice-President/Relocation & Client Services
mailto:goodmove@marx-bensdorf.com 
 
Inform her that Jerry Lucius sent you.

  Primarily, the agent's job is threefold,    The  Real Estate Agent is a consultant , negotiator and facilitator .   The market sets the general price for a property, but a skilled negotiator with a strategy can net you 3% to 5% or more.  Concessions and sales price can be affected favorably with good negotiation and knowing what the goals and strategies are.  Many agents have taken additional  training in the area of negotiation to sharpen that skill set.

Next, a home is the largest investment most people make in a lifetime...why gamble your investment with a part-timer?  If you are selling your home yourself, aren't you a part-timer?  Do you want a part-time doctor, lawyer, accountant?  Or do you want  someone who actively works in the marketplace on a daily basis?  You want someone who gives full time effort to the task and treats real estate like a business; the business of your agent is to get your home SOLD or to find you the right home and CLOSE THE SALE.

Don't forget Realtors are a great resource.  The best Realtors know the best and busiest home stagers, inspectors, lenders and closing attorneys. Did  you know, that 10% of Realtors do 90% of the business?  It's my opinion the question is not whether to use a Realtor, but which Realtor.   Think about this: You hire a Realtor primarily for what they KNOW about selling homes and secondarily for what they DO...sell homes. Experience brings me  a knowledge base for problem solving and innovative solutions that can be a huge asset when things come up in your transaction.  What I do everyday becomes that body of knowledge.  Allow me to share this body of knowledge  gained in order to make your buying or selling process a smooth and successful transaction. Saving You Time and Money 

As a Buyer or Seller you must be aware of the possible obstacles and hurdles in a Real Estate Transaction.
Listed are "88 Types of Turbulence" you should be prepared for in order to make the Real Estate transaction go as smooth as possible.
 
The Buyer/Borrower
1.      Does not tell the truth on loan application
2.      Submits incorrect information to the Lender
3.      Buyer has recent late payments on credit report.
4.      Found out about additional debt after loan application.
5.      Borrower loses job.
6.      Co-borrower loses job.
7.      Income verification lower than what was stated on loan Application.
8.      Overtime income not allowed by underwriter for qualifying.
9.      Applicant makes large purchase on credit card before closing
10.    Illness, injury, divorce or other financial setback during escrow.
11.    Lacks motivation.
12.    Gift donor changes mind.
13.    Cannot locate divorce decree.
14.    Cannot locate petition or discharge of bankruptcy.
15.    Cannot locate tax returns.
16.    Cannot locate bank statements.
17.    Difficulty in obtaining verification of rent.
18.    Interest rate increases and borrower no longer qualifies.
19.    Loan program changes with higher rates, points and fees.
20.    Child support not disclosed on application.
21.    Borrower is a foreign national.
22.    Bankruptcy within the last two years.
23.    Mortgage payment is double the previous housing payment.
24.    Borrower does not have steady two-year employment history.
25.    Borrower brings in handwritten pay stubs.
26.    Borrower switches to job with a probation period.
27.    Borrower switches from salary to 100% commission income.
28.    Borrower/co-borrower/seller dies.
29.    Family members or friends do not like the home buyer chooses.
30.    Buyer is too picky about property in price range they can afford.
31.    Buyer feels the house is misrepresented.
32.    Veterans DD214 form not available.
33.    Buyer comes up short of money at closing.
34.    Buyer does not properly "paper trail" additional money that comes from gifts or loans etc.
35.    Buyer does not bring cashier's check to title company for closing cost and down payment.
 
The Seller
36.    Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).
37.    Cannot find a suitable replacement property.
38.    Will not allow appraiser inside home.
39.    Will not allow inspectors inside home in a timely manner.
40.    Removes property that the buyer believed was included.
41.    Cannot clean up liens...is short on cash to close.
42.    Did not own 100% of property as previously disclosed.
43.    Encounters problems getting partners' signature
44.    Leaves town without giving anyone Power of Attorney.
45.    Delays the projected move-out date.
46.    Did not complete the repairs agreed to in contract.
47.    Sellers' home goes into foreclosure during escrow.
48.    Misrepresents information about home & neighborhood.
49.    Does not disclose all hidden or unknown defects and they are subsequently discovered.
50.    Builder miscalculates completion date of home.
51.    Builder has to many cost overruns.
52.    Final inspection on new house does not pass.
53.    Seller does not appear for closing and will not sign papers.
 
The Realtor(s)
54.    Have no client control over buyers or sellers.
55.    Delays access to property for inspection and appraisals.
56.    Unfamiliar with their client's financial position...do they have enough equity to sell, etc.
57.    Does not get completed paperwork to the Lenders in time.
58.    Inexperienced in this type of property transaction.
59.    Takes unexpected time off during transaction and can't be reached.
60.    Misleads other parties to the transaction and has huge ego.
61.    Does not do sufficient homework on their clients or the property and wastes everyone's time.
 
The Property
62.    County will not approve septic system or well.
63.    Termite report reveals substantial damage and seller is not willing to fix or repair.
64.    Home was misrepresented as to size and condition.
65.    Home is destroyed prior to closing.
66.    Home not structurally sound.
67.    Home is uninsurable for homeowners insurance.
68.    Property incorrectly zoned.
69.    Portion of home sits on neighbor's property.
70.    Unique home and comparable properties for appraisal difficult to find.
 
The Escrow/Title Company
71.    Fails to notify lenders/agents of unsigned or unreturned documents.
72.    Fails to obtain information from beneficiaries, lien holders, insurance companies, or Lenders in a timely manner.
73.    Lets principals leave town without getting all necessary signatures.
74.    Loses or incorrectly prepares paperwork.
75.    Does not pass on valuable information quickly enough.
76.    Does not coordinate well, so that many items can be done simultaneously.
77.    Does not bend the rules on small problems.
78.    Finds liens or other title problems at the last minute.
 
The Appraiser
79.    Is not local and misunderstands the Market.
80.    Is to busy to complete the appraisal on schedule.
81.    No comparable sales are available.
82.    Is not on Lender's "approved list".
83.    Makes important mistakes on appraisal and brings in value to low.
84.    Lender requires a second or "review appraisal".
 
Inspectors:
85.    Pest inspector not available when needed.
86.    Pest inspector too picky about condition of property.
87.    Home Inspector not available when needed.
88.    Inspection reports alarm buyer and sale is cancelled.

Join me on Facebook  & LinkedIn

 

 

 

View how we Market our Clients Homes to Potential Customers and other Real Estate Agents via Social Media Network. We set up the Marketing and you have the option to participate in Marketing/Sharing your Home with your Friends on Facebook.

  

 

Real Estate News Network

Today's Market Conditions Report

Is Now the Right Time to Buy A New House?  Or the Best Time to Buy?

Forbes.com released their list of Top 10 Best Housing Markets based primarily on the stability of each metro area as measured by affordability rankings and foreclosure rates as an indicator of a lack of excess inventory, making the top cities what they call the best opportunities for home shoppers. Forbes is pretty reliable with their data analysis and take a big picture view of the market. Yes, Memphis Tn. Area made the Top 10 list.

Many people are wondering if now is the right time to buy a new house. Should you snatch up the good deals before prices start to rise or should you wait a little longer to see if the prices will drop even more? It can be somewhat of a gamble, so it is important to make sure that you know a few facts about the current market so that you can make the best possible decision.

One of the most important facts you should consider when determining if now is the right time to buy a new house relates not to the market but your own situation. Consider how long you plan to live in the home. If you know for a fact that you plan to upgrade or even move out of the area within the next five years, then now might not be the best time to commit to the purchase of a home. On the other hand, if you feel fairly confident with the fact that you will be living in the home for at least five years, then now could be a really good time to purchase a home.

In addition, concessions are now in. Some possibilities include seller paid closing costs and pre-paid items, improvements to the home, price reductions and much more. Sellers are often willing to make such concessions today in order to sell their homes.

The inventory of homes on the market ensures that you will probably be able to find whatever you are looking for. If you're looking for a specific number of bedrooms, a pool or a home in a certain location, you will probably be able to find it.

Beyond the fact that you may be able to find what you are looking for in terms of existing homes, but you make also be able to find a good deal from a builder as well. Home sellers are not the only ones who have been hard hit by the real estate market.  Builders have become more aggressive in their efforts to move new homes. A builder that is looking to clear out an inventory may be very willing to negotiate.

Another great benefit to buying in the current market is the fact that interest rates are lower than they have been in a long, long time. Over the life of your loan this means that you can literally save thousands of dollars. It also means that you might be able to purchase more home because your monthly mortgage payment would be more affordable, even on a more expensive home.

You also need to make sure that you have obtained pre-approval for a mortgage loan before you actually begin shopping around. This will actually give you the best opportunity for making the best deal possible when you start shopping around. Not only will sellers take your offer more seriously, but if you are shopping for a new home from a builder, you may also be able to negotiate better concessions as well.

Given the low prices, low interest rates, large inventory and willingness of sellers and builders to make concessions, now very well could be the best time we have seen in a long time to make a home purchase.

Saving You Time and Money 

Is This a Good Time to Sell My House?

That depends on your reason for selling and your expectations for the sale. If you have already decided to move, accepted a job elsewhere, have purchased another home, or are facing mortgage payments you cannot afford any longer, then the answer is definitely, yes. If you have become an empty nester and you're planning to retire soon, then the answer is most likely yes.

Whatever your reason for selling your home, it is more important to understand there are  key elements that go into the successful sale of your home. One element which you have no control over is location.

Second, which you have control and that is the condition of your home and property. If you can invest $5,000 and raise the ultimate selling price by $10,000, obviously you will want to consider those recommended improvements. A  Realtor® can give you value added suggestions of ways to improve the appearance and the perceived value, of your home.

The third issue is price. In today's volatile market, determining the right listing price for your home may be more important than it has ever been. With an inventory of homes on the market being higher than normal, buyers have plenty of properties from which to choose. You don't have to be the lowest price home in your price range but you probably don't want to be the highest priced home either.

A professional market price analysis is essential. Your Realtor® has access to data regarding the selling price of comparable homes in the recent past as well as the listing prices for all comparable homes in your subdivision and surrounding areas. With this report in hand, you will want to have a conversation with your Realtor® regarding how long you have to sell your home. If time on market is more important than price, then you must be willing to set a price that will put your home high on the list of all prospective buyers of homes in your neighborhood. You cannot have it both ways, high selling price and a quick sale.

Finally, and most important, how long your home stays on the market and the price at which it sells, is determined  by the market and by the quality of the marketing of your home. This is where your Realtor® earns their commission. Some agents are a Listing agent. You want an agent that is a Marketing agent, and can provide you with references to support that.

This involves, electronic marketing and a separate website for your home that is widely promoted and gives prospects a chance to visit your home virtually. Are you aware that over 80% of home buyers today begin by looking for a home on the Internet before they ever contact an agent. Ask your Realtor® to share with you their marketing plan for your home, examples of company and personal website, color brochures, online listings, etc.

Is this the Best time to sell your home? Yes it could be, we are in a Buyer's Market which eludes to the fact Buyers are out looking to Buy, however you must pay close attention to the following elements which are, Location, Condition, Price, and Marketing to attract the right Buyer.

Memphis was just ranked in Forbes Top 10 Best Housing Markets

Saving You Time and Money

Collierville, TN 38017

Good old Collierville Tennessee..where the tea is sweet and accents are sweeter, summer starts in April, front porches are wide & words are long, macaroni & cheese is a vegetable, BBQ is the state food, y'all is a proper pronoun, chicken is fried, biscuits come with gravy, everyone is honey, someone is always getting their heart blessed, and we are all "fixin" to do something.

Over the Last 5 years I have been fortunate to have Sold and Closed approximately 60 Million Dollars in Single Family Residential Property in Collierville Tn. a suburban neighborhood in Shelby County adjacent to Memphis TN. It has been a value added educational process. Allow me to share this knowlege gained with you in order to market and sell your home with your assistance.

Saving You Time and Money

 

Listed are a few areas of success:

• Shea Downs at Porter Farms
• Shea Gardens at Porter Farms
• The Crossings at Porter Farms
• Collierville Farms
• Dubray
• Fairways
• Elm Creek
• Halle Plantation
• Wellington Farms
  

Ten Projects That Will Help Your Home Sell Quicker and for More Equity!

1. Paint - New paint adds a fresh smell, and well-maintained appearance. On the other hand, a home that needs paint looks neglected.

2.Gutters- Repair, cleaning or adding gutters will add value to your home and also help with appearance eliminating the ruts created in flower beds and yard.

3. Landscaping - Well trimmed bushes and a manicured lawn, are signs a home has been maintained.  These tasks may involve more sweat equity than financial investment. While landscaping, take a look at your mailbox. If it is rusty and wobbly, replace it. A nice yard adds to the curb appeal that may get drive-by home shoppers out of their car and through the front door for a better look.

4. Light Fixtures - They don't have to be expensive. But, some old light fixtures can look dated.

5. Window Coverings - Do they let the light in? You don't need costly drapes, but worn, outdated, or heavy window coverings are a definite negative. Natural light appeals to most home buyers.

6. Floors - Attractive flooring adds a lift and can be fairly inexpensive. If carpet is a neutral color and in good condition, it may only need professional cleaning. If not, replace it, stick to med-grade, neutral tones that will go with all color schemes. Nice looking hardwood floors can be a major drawing card. If yours appear worn, it would be a smart use of your improvement dollars to have them refurbished.

7. Updated Kitchen - The kitchen is generally a major selling point, but it is expensive to totally redo it. The national average cost of a completely remodeled kitchen is between $20,000 and $30,000.  It probably would not pay to do this, although an outdated kitchen can lower the market value of a home.  One study suggests the return on a complete kitchen job is about 75%.  That's not bad if you are doing the work for your benefit and can enjoy it for a few years.  But for resale purposes, an alternative is to do spot remodeling jobs that can be accomplished for less money. For example, consider a new sink, countertops, cabinet fronts, lighting, a paint job, and even drawer and cabinet pulls can add to a nice kitchen facelift.

8. Bathroom - You can also do spot remodeling jobs in the bathroom with new fixtures, a new vanity and an interesting mirror.  If the tub is in bad shape, re-caulk and check into getting it resurfaced.

9. Energy Features - If your home is older, energy loss may be a concern for would-be buyers.  In that case, improved insulation for windows, doors, and storm doors can be smart upgrades.

10. Room Addition - An added room may increase the value of your home, but may not pay for itself.  Before adding an extra bathroom or adding a family room, talk to a real estate professional to see what is selling in your neighborhood.  If your home has 2 bathrooms, for example, but recent sales have been mostly 3 bathroom homes, then it might be a worthwhile project.  Otherwise, save your money.

Saving You Time and Money

Overcoming Closing Delays

Anticipate problems before they happen and your closings will stay on track. Sometimes Buyers, Sellers and Realtors think the closing is going to be a no brainer, but these days, having a contract is only the beginning 

According to recent REALTORS® Confidence Index surveys conducted by the NATIONAL ASSOCIATION OF REALTORS®, between 10 percent and 14 percent of pending transactions don't close. Another 20 percent are delayed but eventually close.

The easiest way to avoid a closing delay is to do be prepared and anticipate. Most obstacles that delay or prevent closings fall into three major areas: loans and appraisals, titles, and home inspections. By focusing in on the most common closing obstacles in each of these areas, you can gain control of your transactions and make a closing happen.

PROBLEM: Financing falls through at the last minute

SOLUTION: Buyers get your documentation in order

Tighter and in some cases still-evolving loan underwriting standards make it more critical than ever for buyers to make sure they're financially qualified for the purchase.  However, because of new requirements under (RESPA) the Real Estate Settlement and Procedures Act, many lenders are no longer issuing pre-approvals only pre-qualifications. 

Tighter lending standards and heightened concern about mortgage fraud also mean more time-consuming paperwork. Mortgage brokers have had to relearn the underwriting process and ask all the questions up front. For example, not only do FHA buyers who receive funds from a family member have to disclose the gift and its source, but the person making the gift must also show the source of the funds. 

New condominiums can be a particular loan challenge because the FHA requires that 50 percent of the development's units must be under contract before the agency will approve financing for individual condos. Lenders are also asking to see statements of homeowner's association reserves before approving a loan, which can create a great deal of difficulty at the last minute if the HOA isn't cooperative.

Lenders and mortgage loan investors in the secondary market are scrutinizing actual tax transcripts from the IRS much more closely. Example the lender's review of Buyers tax forms found the spouse had an $8,000 loss from a side business, which dropped their income to below the required amount. 

PROBLEM: Appraised value doesn't support contracted sale price

SOLUTION: Have your Real Estate Agent challenge and offer supporting documentation to the appraiser

 If an appraiser isn't familiar with the neighborhood or property type, the result could be a value that's way off base. Buyers of securitized loans also are doing more due diligence on home values these days, and that can present another appraisal obstacle. 

In transactions involving a foreclosed home, it's not unusual for the bank that owns the property to balk at a valuation that it sees as being too low.  

PROBLEM: New lending and closing regulations create delays

SOLUTION: Understand rules and allow time for compliance

Recent changes to the federal Truth in Lending Act and RESPA can slow the closing process. The new HUD-1 form adds a few more hours of document preparation because underwriters and escrow agents aren't familiar with it yet.

Unfamiliarity and the fear of making a costly mistake in the Good Faith Estimate form are sometimes prompting lenders to ask for closing-cost information more than once or in several formats.

Lending rules have also made it harder to close on time if circumstances change late in the deal. Amendments to the Truth in Lending Act require a three-day disclosure period if a borrower decides to change the loan amount or anything else that can change the interest rate. 

  PROBLEM: Title can't be transferred at closing

  SOLUTION: Investigate potential title troubles early

A preliminary title search can reveal an array of problems, from unpaid taxes to land-use restrictions. The fee is "nominal" and can usually be rolled into the final title work if the buyer agrees to use the same title company that does the search.

Short sales and REOs are particularly prone to title problems. You might find liens for things like HOA fees or unpaid repair costs. Even if the liens are in error, they can put a cloud on the title, and that can delay a closing.

With bankruptcies, you need to search federal records to be sure that there are no conditions affecting the disbursement of proceeds that need to be met before the sale. The bankruptcy court also has to approve the contract prior to closing.

And if an owner is trying to sell a property before foreclosure, check with the lender to be sure the property hasn't been posted for foreclosure and is still available to sell.  Also, be sure the proceeds are enough to pay off the mortgage lien and any fees from late payments.

PROBLEM: A home inspection uncovers serious issues

SOLUTION: Look into possible repairs before buyer's inspection

The time it takes to negotiate which party pays for repairs, get estimates and sometimes even completing the work can cause delays for a closing. People want and expect a perfect house. We see buyers renegotiating repairs two or three times. Again, an option to avoid last-minute wrangling is to get a home inspection and make repairs before the property is listed for sale. 

An alternative to a prelisting inspection: Have Agent Walk through the property with sellers and ask about the condition and age of major components like the roof and foundation. Then get estimates on what potential repairs will cost. Sellers don't necessarily have to fix the problems, but knowing what they might have to spend will help them price the house.  The estimates can also speed repair negotiations.

Alerting buyers to possible high-ticket repairs and suggesting that they factor those potential repair costs into their offer can also cut down on post-contract negotiations. 

Repairs required by VA appraisers can delay a closing because the work must be completed before the property can change hands. Another obstacle with VA loans: a buyer can't agree to pay for a repair, which can be a big problem if the seller can't or won't pay.

No matter how much you plan ahead, it often seems that closings are just taking longer today. Indeed, the "new normal" may be that it takes 45 or even 60 days from the date the contract is signed to close the transaction.

You can get a realistic estimate of a closing date by creating a timeline of how long various inspections and approvals are taking in your area. If it takes 10 business days to get an inspection and two-weeks to get a survey, you shouldn't count on closing in 30 days.

Saving You Time and Money 

Baby Boomer Generation and Real Estate Marketing

Born Between 1945 - 1962

Harris Interactive reports most baby boomers are still in the workforce, and are a driving force in the housing market. The same report concludes 42% of baby boomers would like to retire in the South, 32% in the Western United States, 15% in the Midwest, and 12% in the Northeast. Which means the bulk of opportunity for marketing luxury real estate remains in the Sunbelt.

Four out of ten or 40% of baby boomers own second, separate vacation homes. In fact, baby boomers account for 57% of all vacation home ownership, and own 58% of all rental properties in the United States. Ten percent of baby boomers plan to buy real estate over the course of the next year. Two-thirds of those will buy a new home, a second home, or commercial property.

According to a National Association of Realtors survey, baby boomers expect to use a professional realtor when they buy property. Not only will they utilize real estate agents, but they will demand excellent service and expertise from their agent. Of boomers in the rich category, 97% own homes, and 47% own other additional real estate.

Interestingly, American Demographics states that the future intentions of baby boomers regarding real estate investments, their thinking, and their attitudes are influenced by the media and outside pressures, including marketing.

Luxury properties should be suggested as long-term investments. Generally speaking, the appreciation rate on luxury houses is exceptional. Affluent baby boomers are very concerned with investment potential, which heavily affects their decision to purchase.

Location remains vital to affluent baby boomers. They desire traditional residential neighborhoods, especially if gated and exclusive. Baby boomers find large, luxury houses with panoramic views very appealing.

Younger baby boomers, those in the 45 to 50 age-group, are interested in "up-and-coming" neighborhoods. The investment potential may take longer to reach fruition, but they are willing to wait. Make sure to mention at least one nearby "destination restaurant" to younger baby boomers.

Younger baby boomers are interested in luxury apartments, service amenities, and exclusive designer interiors. Younger boomers relish the latest gadgets and chic name brand appliances as well.

Since most baby boomers are still working full-time, and are technologically capable, use email and cell phones to contact prospective clients. Phone calls and emails should be short, because baby boomers are busy and on-the-go.

Some affluent baby boomers, according to the National Association of Home Builders, desire to "age in place." This means they will not purchase new houses. Instead, they will re-model their present houses. Baby boomers in this segment want easy-to-use luxury products, such as more efficient lighting, convenient control devices, easy-grip handles and luxury cabinet hardware, adjustable showerheads, seats, bars, and luxury bathtubs with textured bottoms. Other desired luxury items include low-step showers, wider doorways, ground-floor bathroom additions, hardwood flooring, luxury carpeting.

Zero maintenance is of primary importance to baby boomers. Many of them own two or more homes and they do not want to worry about security or upkeep when they are gone. They also want energy efficiency and attractive exteriors in their properties.

Article offered by SRES

 

 

Click on the Marx-Bensdorf REALTORS Logo to proceed forward with a simple fill in the blanks calculation. This will assist you in determining your total mortgage payment. This is only an estimate, however if all data entered is fairly accurate you will have a very good benchmark..

The calculations will be based on 4 main elements commonly called PITI as follows

Principal, Interest, Taxes and Insurance

The lender may also require PMI or Private Mortgage Insurance.

This is commonly required when the downpayment is not at least 20% of sales price.

Should you need assistance determining the tax rates for homes in Shelby County and the City taxes within please feel free to call.

Saving You Time and Money

Born somewhere between 1963 and the late 1970s, the Gen X'er group is much less concerned with formality and impressing others than previous generations. Instead, group members prefer living wherever, whenever and however they want, making homebuilders realize that new home designs must be more flexible than in the past.

What's new and different? A study of almost 8,800 Gen X'ers done for Builder Magazine shows that:

Half of the Gen X group already owns their own homes, and although most don't live alone, they are not necessarily married to the person with whom they share living space.

This group can be a study in contradictions; admitting that they would sacrifice for home ownership by brown-bagging and eating out less frequently, but preferring plenty of restaurants nearby.

Although they value family, they would much rather use a third or fourth bedroom for a home office than for more sleeping space.

Formal living and dining rooms don't make sense to Gen Xers.

Highest on their list of priorities are abundant counter space in their kitchens, lots of storage and closet space, good energy efficiency, high-speed Web access, and a large yard.

House hunters of the Gen X generation could well be regarded as motivated consumers, experiencing homeownership at younger ages than even their Boomer parents did.

Gen X'ers likely buy homes earlier because they have a higher proportion of two-income households. In fact, many of these homebuyers become homeowners shortly upon finishing their educations. Further research reveals that Gen X often get a jump-start from their better-heeled parents, experiencing "wealth transfers" long before estates and inheritance taxes are a part of the discussion.

The first generation to regard use of computers as casually as the telephone or refrigerator, Gen X members use the Web for the flexibility it offers; the freedom from having to make appointments, as a way to avoid sitting through endless meetings in stuffy conference rooms, and for the ability to make better use of their limited free time.

As to housing preferences, they want that freedom as well. No room will go unused, but they will not permit homebuilders to pre-determine their needs.

They are menu-driven, that means that they prefer to be given choices from the general to the specific in everything, just like on a Web page's drop-down menu. And if they truly think they need it, they will pay for it.

Referred to as "maximizers, Gen Xers want the most for their time, money and experience, as well as the space in their homes. If that means the trade-off between a dining room that may be used three times a year and that same space being used for a TV, VCR and treadmill. 

 

Silent Generation and Real Estate Marketing

Born Between 1910 - 1944

The Silent Generation is commonly referred to as the Senior Citizens age group. Senior buyers fall into two categories. The first are those who are actually suffering from the results of father time. They'll give you a list of things they can no longer do, so your job in finding them a home is well mapped out.

Openly discuss issues like stairways, counter heights, doorway widths, and space to install grab bars in the bathroom. They'll tell you what they need and want so you can go out and find it for them. When you're selling to this group, preview homes before you take them along.When people are having a hard time getting around, need a wheelchair or walker, or are just unsteady on their feet, they don't need to be dragged around looking at all the wrong homes. They won't appreciate you wasting their energy by showing them homes that are obviously wrong.

Pay careful attention to their needs, and if you eliminate a house they've asked about, tell them why. It might be because the bathrooms and bedrooms are on the second floor and the laundry room is in the basement or perhaps because of steep steps leading to the house. Maybe the garage is too narrow to allow them room to put a wheel chair in and out of the car, or the bathroom door is too narrow for the wheel chair to get through. Do your homework, tell them the straight facts, and you'll earn their respect and loyalty. This segment of the senior population may be focused on living within minutes of a medical facility.

Now take a look at the second group.  What about the ones who are officially senior citizens, but have no intention of acknowledging that fact?   Find out more about them and their lives. Many are still working, so see if they want to locate near the workplace. Then, inquire about hobbies and other leisure activities. They may be avid golfers and want to live near or on the course, they may want to hit the gym three days a week and have access to a swimming pool. Don't overlook the one-story necessities that may be located in Ranch Style Condominiums with maintenance free exterior. Condominiums offer the value added benefit of independent hassle free living.

Don't assume anything. Some seniors are anxious to leave yard work behind so they can pursue other interests, while others have been waiting for retirement to have time to landscape a yard and grow a huge garden. Listening is important but when you're selling to senior citizens, you should to listen to the subtle hints as well as the open statements.

Remember, in the back of their minds, they're recognizing the possibility of ill-health in the future. They know that the day could be coming soon when they won't be able to easily navigate stairways and they know that a wheel chair could be a part of their future.

If you are Marketing and selling a home for this age group proceed with caution with your choice of words such as de-cluttering. Many senior citizens remember living through the Great Depression, when they had nothing and had to make do with what they had. Resources were scarce and everything was recycled and re-purposed. Throwing something away was considered to be wasteful, and people were convinced that saving and reusing things was a measure of good character. 

They may not be able to get rid of things because it makes them feel like they are a bad person.. They want to believe they are people of good character and they would like others to think that, too, so they hang onto things to prove it.

They will not be able to bring themselves to part with items that may be useful to someone else, since they consider it their duty to preserve items for future use. There is little doubt that this particular way of thinking will lead to accumulation of items that have long since outlived their usefulness.

 

 

 

Data partially sourced from articles by Marte Cliff

Generation Y The Technology ERA and Real Estate Born Between 1980 - 1995

The largest U.S. age group since the baby boom will make an unbelievable impact on the housing market. Here's what you need to know to tap into this powerful market segment.Life without Google, Communication without text messaging and Real Estate without virtual tours are hard to imagine for the millions of people who fall into Generation Y. As children of the baby boomers, this group is predicted to make up the bulk of U.S. population within 20 years.

That's why it's essential for Realtors to understand what makes Gen Y tick. After all, it won't be long before Gen Yers are a dominant segment of home buyers. If you want to have a future in the real estate business, you must think about the customer of tomorrow. To get a better feel for Gen Y, here are some quick facts:

Becoming a majority. Experts say Gen Y ranges in size from 72 million to 78 million people nationwide and 2 billion worldwide.

The Web is their playground. They track down their friends on MySpace and Facebook, they download their songs from iTunes, and they send e-mails from their phones while waiting in line at Starbucks. And you had better pay attention to their e-mails, because they expect a fast response.

They buy young. On average, Gen Yers buy homes at age 26, three years earlier than most Generation Xers, according to a Real Estate study. Gen Y is not just some kid out of college they are kids with parents who want to see them get off to the right start and is willing to put 10 percent down on a house and have the kid pay the mortgage every month.

They have hectic schedules. Their lives are a lot busier than their parents were at their age, they're always moving.

They do their research . Don't try to pull one over on this age group. You'd better know what you're talking about, because they will have done the research.

The Importance of Technology

It's critical to embrace technology when working with young buyers.  Nine out of ten Gen Yers have a home, lap-top computer or iPad. Almost all 97 percent have a cell phone or iphone that is more advanced than your laptop, and 68 percent send text messages from their phone. Fifty percent listed instant messaging as their preferred form of communication.

It's important to have a well designed and informative web site in order to appeal to this age group. It's a given that young buyers will search for homes online, so make sure your site can be accessed through major search engines like Google, Yahoo, Bing even accessible through facebook.
If they don't get what they want right away from the person who promised it, it's just a phone call, e-mail, or text message away to recruit another Realtor to do the work.

Is Younger Better?

While Gen Yers want a Realtor who's comfortable with technology, they also value the expertise of a veteran. They feel safer dealing with someone around their parents' age. If you identify your experience and show that you're tech savvy, that's a nice combination for young buyers and sellers. Older agents have the advantage already, as long as they don't get out-communicated by not having the right tools like a Blackberry, or I-phone. Even the most experienced and tech-savvy Realtors will fail to win over Gen Yers if they don't treat their clients like adults.

Ideas for Reaching Out to Gen Y

With Gen Y becoming a more powerful segment of the real estate market, there's huge potential in catering your business directly to this demographic.

Advertise listings on Craigslist... This online classifieds Web site is hugely popular with all buyers and sellers, but especially with the Web-savvy Gen Y set.

Do not try to up-sell... find the home they want within their price range. They will love you.

Know what they like... Younger buyers tend to want a home that's close to work; near a park (to walk the dog); and within walking distance to shopping, the gym, and local bars and restaurants. Easy home maintenance is also high on their list.

 

 

Data source Realtor Magazine

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Hidden Family Treasure

Just one of the many homes for sale is this new enviromentally friendly subdivision. Click on both pics to read about this great new and highly successful community. Please call me for additional info on the home shown at 4695 Maple Forest in Lakeland Tn.