Check Out the New HMSAssociates.net
April 20, 2012

Just like the housing market, we're constantly evolving here at HMS. That's why we have a brand new, easy-to-nagivate, user-friendly website. Check out some of these features:

Get Started Button

To make requesting an appraisal as simple as possible, we have a new form that lets you enter all the data we need to start your appraisal. All you have to do is click it and fill it out, and we'll move into action.

4 I's of Excellence

HMS looks at properties closer than any other appraiser. Now you can learn more about our process here.

Updated Blog & Newsletter

On our new website, you can easily stay up to date on all the latest thoughts from HMS. Don't forget to sign up for our monthly newsletter, too.

Link: http://www.hmsassociates.net/blog/

We think it's an improvement on the service and knowledge we've been providing you for years, but let me know what you think!

How Short Is Your Sale?
April 20, 2012

When you hear your broker say a home is “priced right,” what does that mean? A lot of times, a home seller will just trust what their resident authority on the housing market has to say. But how often do you question his judgment, or his motive? Is this person an expert or an entrepreneur with a vested interest in flipping your home fast?

In order for a home to truly be priced right, one must understand everything that influences not only the market, in general, but what happens in your local neighborhoods as well. It’s not just about the numbers, but the driving forces that make up the lifeblood of the community. That’s how you get to a true valuation.

You have to ask yourself if your broker is working in the best interest of getting you the highest amount for your home, or in his best interest to move your home fast and make a quick buck. Furthermore, is he in the best position to tell you what your property is worth, or is he under the sway of his commission check?

So can your broker get you fair value for your home? Possibly. But if you don’t have a true professional appraisal, you have to wonder how short your sale is.

The Market Rebound of 2012- A True Story
March 21, 2012

It’s a new year, and with that comes new hope. Hope for well-being, hope for good times, and hope for prosperity. For most, this would take an economic rebound. But we’ve been in the doldrums for so long. Would we even know what a recovery looks like anymore? Do we remember the thriving economies of yore?

As the backbone of the economy, the housing market is essential to long term growth. Here are a few factors where, if all goes right, we could really see a notable improvement in real estate sales:

Homes Are Valued Accurately

This may be the single biggest factor that no one is talking about. If we think in terms property as an investment, which it is for a great majority of people, when a home looses value, it hurts the owners’ income potential. Right now, many in the market are afraid to buy, so real estate brokers are devaluing properties to move them. As a result, a lot of cash is leaving the market. Returning that cash to the market through accurate home prices helps everyone.

Unemployment Drops

This one is already happening, albeit slowly. Employers are growing again as certainty returns to the market. Hence, more people are earning a paycheck each month. Not only does this inject money into the market, but lenders will view them as less of a risk, further supplementing economic growth. This will be especially helpful to younger demographics as they move out of apartments and into properties of their own.

Lenders Loosen Cash

Making money available to borrow makes it all possible. It opens businesses. It buys homes. In a way, credit makes the world go ‘round. But since the banks got burned in the financial meltdown of a few years ago, they’ve tightened the purse strings. It’s tough to get a loan right now, but as people return to responsible spending and earn more money as businesses grow, banks will want to bet on these new lower risks.

Consumer Confidence Rises

Of course, it doesn’t matter how much money people can borrow if everyone is afraid to spend it. But as the market grows and cash is returned to the economy, consumers will feel more confident. This really is the byproduct of all three of the above, and it becomes a self-propelling cycle once we can kickstart it into motion.

Wall Street Rebounds

Of all these hopes, this one may be the biggest stretch. The stock market is volatile, and it looks like it will remain so. But if it can gain some semblance of stability through key spending months, everything will grow around it. Consumers, banks and employers will worry less, and the market will return to normal.

That sure resembles a recovery, doesn’t it?

Looking back at how the real estate marked performed in 2011, it’s not out of the question. Even if just a few of these predictions come true, we might not have to hearken so far back to find prosperity.

How Well Do You Know Your Neighbors?
March 15, 2012
by User

Every neighborhood has its official demarcation, defined by authorities like the building department, local government or assessors office. Counties, towns, villages, hamlets and such.

But there are also unofficial ties within those areas that blend them together in a way that forms a new cohesive unit. One jurisdiction flows into another, but not necessarily the whole of it. It happens all the time, but how do you really know where these intricacies are? Is it instinct, or just an intimate knowledge of your surroundings? Or both?

Sometimes, this can be based on simple demographics, or even proximity to activity centers, like schools, shopping and places of worship. But sometimes, the real reason why these subneighborhoods exist can’t be quantified. It’s not some tangible thing, more like a feeling of camaraderie between subsections of the populace. A likemindedness that links the area as a whole. This bond can be as tiny as a few blocks, but the effect is significant.

While anyone can spit out statistics, you have to read between the lines to understand the forces behind those numbers. When you read Published data on Market conditions, it doesn’t account for the nuances of each of these subneighborhoods.

Sure, the numbers may say the market in a certain town or city or county may be doing this or that, but it doesn’t there are some times when a relatively small area within the neighborhood that defies the statistics for different reasons.

No metric can measure “je ne sais quoi.”

Renting the American Dream?
March 15, 2012
by Gary Buiso

For decades now, Americans en masse have long to own their own part of the country. Home ownership is the foundation on which themiddle class was built. But as the housing market fluctuates, many have altered their dreams. Living comfortably no longer necessarily means owning your home. You might be better off renting. For the rest of your life.

Let’s take a look at some of the pros and cons of home ownership in the current economy:

Pros

• Low Interest Rates
• Low Home Prices
• Long Term Payoff
• Pride of Ownership
• Tax Write-Offs

Cons

• Volatile Markets
• Potential loss of equity
• Securing Financing
• Taxes
• Repairs and Maintenance

Conventional wisdom says owning a home is the right choice over the option of renting. But many are letting these cons scare them away from the process of buying a home altogether, opting for the comfort of a month to month lease with no maintenance or taxes on their property. Have we lost a generation of homeowners who have altered the American Dream?

Part of that fear of ownership comes from the transient nature of our current culture. If you aren’t staying in one place for a very long time (which you might not if you want to find employment), buying doesn’t make sense.

You also miss out on the headaches caused by maintenance costs and increasing property taxes, which are enough for some to turn away property ownership forever. They just don’t want to be responsible for the trouble of keeping a house together.

Maybe we are seeing a generational sea change, but I refuse to believe it. When you own a home, you own a piece of America. Your own little private sanctuary where no one can tell you what pets you can have, what color your walls are, and how many guests you can have at one time. That independent spirit is what makes the country strong.

Homeownership will come back in vogue; it just takes a steady market. With so much uncertainty, there might not be any need to buy a home. But these things are cyclical. Something will once again reignite that unyielding desire to own a piece of your beloved country.

We aren’t waking up from the American Dream just yet.