Existing-Home Sales To Trend Upward in 2007!
Existing-home sales are expected to rise this year. With annual totals slightly lower than 2006, new-home sales will continues to slide, according to the latest forcast by the NATIONAL ASSOCIATION OF REALTORS.
"Market conditions will vary around the country next year," says David Lereah, NAR's chief economist. "Roughly three-quarters of the country will experience a sluggish expansion in 2007, while other areas should continue to contract for at least part of the year," he says. "Most of the correction in home prices is behind us, but general gains in value next year will be modest by historical standards."
"Buyers, especially first-time buyers, with the combined benefits of seller flexibility and an unexpected drop in mortgage interest rates, have a window of opportunity," he adds. "These conditions will persist in many areas until early spring when inventory supplies are likely to become more balanced."
Finishing as the third best year on record, existing-home sales for 2006 were projected at 6.47 million, which is a decline of 8.6% from 2005. For 2007, sales are expected to rise steadily to an annual total of 6.4 million.
"By the fourth quarter of 2007, existing-home sales will be 4.6% higher than the current quarter," Lereah says.
New-home sales are slowing. In 2006 they fell 17.7% to 1.06 million, which is the fourth highest total on record. They are expected to fall an additional 9.4% this year to 957,000. Much of the contraction in the new housing market results from cuts in builder construction to support pricing for current inventories. In addition, high construction costs in many areas are taking a bite out of potential profits.
Total new-housing starts for 2006 dropped 12.3% to 1.82 million units. It is expected to decline 15.1% to 1.54 million this year.
The national median price for existing homes in 2006 was $222,600. It is expected to rise another 1% in 2007 to $224,700.
The median new-home price should rise by 0.8% this year to $241,700.
"Keep in mind that overall home prices were still appreciating at double digit rates in the first quarter of 2006. Prices in this buyer's market are temporarily below what they were a year ago when we were in a strong seller's market," Lereah says. "This correction is one of the factors drawing buyers into the current market, but most sellers are still seeing very healthy long-term gains."
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Wendy and Elliot Koolik have sold more than $350 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Friday, January 26, 2007
Monday, January 22, 2007
Home Staging
Koolik’s Recommend Home Staging
When selling a home, the buyer’s first impression is critical. A home that shows well has a competitive edge over other homes. Wendy and Elliot Koolik of Koolik Group Realty have identified that it is imperative that when selling a home it must look the best it possibly can. This is why they have aligned themselves with Brooke Porter, President of Designed To Sell, a Boca based staging firm. Porter works with sellers in preparing their home for show through a process called home staging.
Home staging prepares a home for sale so it appeals to a large variety of buyers. Furniture layout, lighting, traffic flow, repairs and aesthetics are all examined and addressed in order to transform a home into a “model” that is visually appealing to buyers.
Most homeowners have organized and decorated their home in a way that is attractive to their tastes and lifestyle. “Homeowners often don’t realize that over time, their homes have become cluttered and/or worn, but buyers see it right away. The goal of staging is simply to make your home stand out and often that can be accomplished by simply de-cluttering, de-personalizing, and sprucing up,” states Porter.
As part of a well thought out marketing effort, Wendy and Elliot Koolik’s clients receive a consultation from Design To Sell and are given a staging plan which includes a room-by-room written report detailing what the homeowner can do to prepare the home for sale. The report includes tips on cleaning, repairing problems, rearranging furniture, de-cluttering space and neutralizing the décor. “The recommendations can be completed by the homeowner or we can have it done for them by a team of professionals,” says Porter.
Although the cost of completing the recommendations varies, it is far less than the first price reduction when a home does not sell. The cost of staging a home is an excellent investment when you consider the appeal it brings to buyers.
Elliot says, “There is never too much you can do to sell your home. It’s obvious that if a home shows better, it will sell quicker and for a higher price.”
Staging a home is a win/win situation for everyone. The seller is now able to present the home in the best possible condition, the buyers have a better house to view and the realtors have a better home to sell and market. “In the end, home staging is an additional tool that we have chosen to use to benefit our sellers in assisting them to sell their home,” states Wendy.
For more information on Brooke Porter, please call 561-400-1856 or email her at brookster100@yahoo.com
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Wendy and Elliot Koolik have sold more than $350 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
When selling a home, the buyer’s first impression is critical. A home that shows well has a competitive edge over other homes. Wendy and Elliot Koolik of Koolik Group Realty have identified that it is imperative that when selling a home it must look the best it possibly can. This is why they have aligned themselves with Brooke Porter, President of Designed To Sell, a Boca based staging firm. Porter works with sellers in preparing their home for show through a process called home staging.
Home staging prepares a home for sale so it appeals to a large variety of buyers. Furniture layout, lighting, traffic flow, repairs and aesthetics are all examined and addressed in order to transform a home into a “model” that is visually appealing to buyers.
Most homeowners have organized and decorated their home in a way that is attractive to their tastes and lifestyle. “Homeowners often don’t realize that over time, their homes have become cluttered and/or worn, but buyers see it right away. The goal of staging is simply to make your home stand out and often that can be accomplished by simply de-cluttering, de-personalizing, and sprucing up,” states Porter.
As part of a well thought out marketing effort, Wendy and Elliot Koolik’s clients receive a consultation from Design To Sell and are given a staging plan which includes a room-by-room written report detailing what the homeowner can do to prepare the home for sale. The report includes tips on cleaning, repairing problems, rearranging furniture, de-cluttering space and neutralizing the décor. “The recommendations can be completed by the homeowner or we can have it done for them by a team of professionals,” says Porter.
Although the cost of completing the recommendations varies, it is far less than the first price reduction when a home does not sell. The cost of staging a home is an excellent investment when you consider the appeal it brings to buyers.
Elliot says, “There is never too much you can do to sell your home. It’s obvious that if a home shows better, it will sell quicker and for a higher price.”
Staging a home is a win/win situation for everyone. The seller is now able to present the home in the best possible condition, the buyers have a better house to view and the realtors have a better home to sell and market. “In the end, home staging is an additional tool that we have chosen to use to benefit our sellers in assisting them to sell their home,” states Wendy.
For more information on Brooke Porter, please call 561-400-1856 or email her at brookster100@yahoo.com
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Wendy and Elliot Koolik have sold more than $350 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Monday, January 15, 2007
Ready For 2007!
Wendy & Elliot Koolik: Ready for 2007!
With the start of a new year, Wendy and Elliot Koolik are ready for an exciting real estate market. Thanks to the latest technology, savvy realtors have access to the MLS just about anywhere – anytime – and the Koolik’s now have access to the this latest technology allowing them to pull up listings, review email, access the Internet at high speed PLUS print and fax all from their car!
Realtors who are in their office are definitely not out selling homes, and you will hardly ever find Wendy and Elliot Koolik of Koolik Group Realty in their office. “As a Realtor, you are always on the go,” says Elliot Koolik. This latest technology will allow me to be extremely efficient in the coming new year. Many times while I am working with a buyer, their criteria changes. Instead of going back to the office, I am able to check my laptop in the car, and have a new inventory of homes in front of me instantly... This maximizes both of our time.”
Koolik Group Realty is a family business with the presence of a large company since serving the Greater Boca Raton, Delray and Highland Beach area for over 25 years. They have always been on the cutting edge with their marketing and technology. “Our marketing has been innovative and we believe that our technology should be as well,” said Wendy Koolik. “With the new year upon us, we are now completely mobile and have a working office right out of our car.” The Koolik’s are one of the top real estate teams in the area and with that comes a very busy schedule. As leaders in luxury and country club communities, the Koolik’s take pride in making sure all of their clients get the service they deserve.
“It is crucial to stay on top of the needs of all of our buyers and sellers. Schedules are constantly changing, follow up is important and customer feedback is a priority. We are all now wirelessly connected through our Blackberry’s and computers so that any change in our schedule or access to our messages is immediately received no matter where we are,” explained Elliot. This enables the Koolik’s to do what they do best…. sell homes!
Wendy and Elliot Koolik truly offer the best of both worlds - the attention from a family business with the technology of a large company. With such a winning combination, Wendy and Elliot are confident that 2007 will prove to be a great year for the real estate market!
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $350 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
With the start of a new year, Wendy and Elliot Koolik are ready for an exciting real estate market. Thanks to the latest technology, savvy realtors have access to the MLS just about anywhere – anytime – and the Koolik’s now have access to the this latest technology allowing them to pull up listings, review email, access the Internet at high speed PLUS print and fax all from their car!
Realtors who are in their office are definitely not out selling homes, and you will hardly ever find Wendy and Elliot Koolik of Koolik Group Realty in their office. “As a Realtor, you are always on the go,” says Elliot Koolik. This latest technology will allow me to be extremely efficient in the coming new year. Many times while I am working with a buyer, their criteria changes. Instead of going back to the office, I am able to check my laptop in the car, and have a new inventory of homes in front of me instantly... This maximizes both of our time.”
Koolik Group Realty is a family business with the presence of a large company since serving the Greater Boca Raton, Delray and Highland Beach area for over 25 years. They have always been on the cutting edge with their marketing and technology. “Our marketing has been innovative and we believe that our technology should be as well,” said Wendy Koolik. “With the new year upon us, we are now completely mobile and have a working office right out of our car.” The Koolik’s are one of the top real estate teams in the area and with that comes a very busy schedule. As leaders in luxury and country club communities, the Koolik’s take pride in making sure all of their clients get the service they deserve.
“It is crucial to stay on top of the needs of all of our buyers and sellers. Schedules are constantly changing, follow up is important and customer feedback is a priority. We are all now wirelessly connected through our Blackberry’s and computers so that any change in our schedule or access to our messages is immediately received no matter where we are,” explained Elliot. This enables the Koolik’s to do what they do best…. sell homes!
Wendy and Elliot Koolik truly offer the best of both worlds - the attention from a family business with the technology of a large company. With such a winning combination, Wendy and Elliot are confident that 2007 will prove to be a great year for the real estate market!
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $350 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
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