Buyers market

RISMEDIA, May 4, 2011—Nearly one third of adult leisure travelers are parents and grandparents, taking an average 4.5 trips each year (U.S. Travel Association). With summer around the corner, moms and dads are ready to tap into their vacation days and make some good old-fashioned family time. TOTSY—the private sale site exclusively dedicated to delivering deals on coveted must-haves for parents, babies and children—is partnering with Deb Geigis Berry, a family adventure experts, to make sure this summer’s trip is one to remember.

Travel and entertainment top the charts as one of mom’s highest priorities for her summer budget (2011 Mom Shopping Trends Report). But a family vacation is easier said than done as traveling with infants is no trip to the park.

Nearly nine out of 10 moms purchase products to make traveling with children easier (2011 Mom Shopping Trends Report). Despite this, many still struggle with preventing those difficult and often embarrassing ‘kick, scream and cry’ moments that always happens at the wrong place and time.

The following tips allow parents to make the best of their vacation while their children are still young.

1. Young kids love being with mom and dad, so while on vacation, making a trip to local beach or state park can be just as fun as a pricey excursion to a crowded amusement part. Just shake things up with a few new travel toys.

2. Search for freebies. Many towns offer a free concert or outdoor movie, and libraries often host events—from juggling seminars to costumed parades. Once you arrive at your destination, head to the local library and scan the bulletin for upcoming events.

3. Don’t take ‘family friendly’ to heart. Call venues to see if they have cribs, high-chairs and booster seats. Also bring quiet, colorful toys, like spinners that attach to tables or table trays with a suction cup.

4. Press all buttons before they press yours—make sure the sound/effects and melodies of toys won’t drive you crazy over a long car ride.

5. Don’t bring your child’s favorite toys. Losing an adored blanket or stuffed animal will put a damper on the trip. Try picking up a few filler toys just for the trip.

6. Only one thing is worse than a back seat driver: a back seat crier. Use car compartments to stock items that comfort and distract, like a small pillow or a fun play mat.

7. Divert meltdowns with smart phone apps that entertain babies in a pinch, like animal pictures with sounds and flashcards with shapes and colors. Don’t forget to use a durable case and neck strap!

8. Save money and eat healthy with picnics stocked with bread, cheese, vegetables and fruit from local farmers’ markets. In case the ground or table is damp, keep a waterproof blanket in the car.

9. Keep moving. Babies and young children enjoy motion. Try cycling with a baby in a trailer, hiking with a baby in a carrier, or riding on a historic merry go round.

10. Try an animal adventure. Take a bird walk, visit a fish hatchery or cruise an animal park. Go to your state’s tourism department website to learn about animal adventures near you

The Impact Foreclosures Have on House Prices

by The KCM Crew on March 16, 2011 ·

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Home values are again beginning to fall. What has caused this renewed downward pressure on prices? It can be directly tied to the number of distressed properties in the region which have shredded values in some marketplaces. Foreclosures and short sales impact prices in two major ways.

They are discounted competition to the house next door

When a home buyer decides to purchase, price is a major component in the equation. Every buyer wants to make sure they are getting an excellent deal especially after what has taking place over the last five years. According to RealtyTrac, foreclosures, on average, sell for a 41% discount and short sales sell for a 19% discount.

These distressed properties might not be in the same physical condition as the non-distressed properties. However, at sizable discounts, many purchasers are more than willing to do the necessary repairs. Every buyer who buys a distressed property is one less eligible buyer for the other homes. Less demand in a market with an oversupply of houses for sale means lower prices.

Distressed properties could impact your buyer’s appraisal

We had the honor to speak at the Leading Real Estate Companies of the World Conference and the RELO Direct Corporate Forum last week in Las Vegas. Chip Wagner of A. L. Wagner Appraisal Group, Inc. also spoke. He is a third generation appraiser and an industry icon who will be inducted into Worldwide ERC’s prestigious “Hall of Leaders” in May in recognition of his years of hard work in the field.

At the conference, Mr. Wagner explained:

“Recently appraisers have been accused of prolonging the nation’s real estate downturn by developing value opinions that are below proposed sales prices. Specifically, we have been accused for using distressed properties among the comparable sales used in the valuation process.

If a specific market area has a low amount of distressed listings and comparable sales, it is likely there is little impact on property values, and we may be seeing appreciation taking place. A ‘low amount’ would be under 10% to 15%. In market areas where there is a high amount of distressed market competition, typically greater than 1/3 of the market, this distressed competition has to be analyzed as this is the new ‘norm’ for that market area. Buyers active in that area are looking at all of the competing properties and making their purchase offers and buying decisions based on all of the information available to them. Sometimes the appraisers are using that data, and sometimes they are not. The important thing is that the appraiser properly research and analyze each property, understanding the differences in seller motivations and the condition between the properties.”

These properties sell at substantial discounts. When they are used as comparable sales, they could dramatically impact values.

Bottom Line

The number of distressed properties coming to market is increasing and will create downward pressure on house prices throughout