Best advice for would-be sellers: Don't Sell! Ride this out if possible, because values will stabilize again. If your current circumstances dictate otherwise, then you'll have to ramp up your marketing plan a notch to adjust to the times. If you must sell in this market go the extra mile! All the basic advice applies such as cleaning and decluttering your home. But take it further by painting your home neutral and possibly staging to increase the appeal.
If you are planning a move up and want to take advantage of the current market conditions-consider letting someone else make your payments by renting out your current home. You should consult your tax consultant before making any decisions that might alter your tax basis on your home.
Sunday, December 30, 2007
Sunday, December 16, 2007
Not that many shopping day left till Christmas!
December is a great time to purchase your new home!
Real Estate has always been seasonal! Market corrections may come and go but seasons have always dictated patterns. Spring is typically the heaviest sales period followed by summer. Some sellers are averse to having their homes on the market over the holiday season preferring to wait until spring when the market is typically known to be more in their favor. This can bring about a decrease in inventory. This can be beneficial to both buyer and seller!
The price received for homes is largely a function of supply and demand and the more homes on the market the more competition. Buyers can become overwhelmed by too many homes for sale and sellers can become lost in the sea of inventory. This month we have decreasing inventory and most sellers still on the market are motivated making this an excellent time to find your dream home!
Real Estate has always been seasonal! Market corrections may come and go but seasons have always dictated patterns. Spring is typically the heaviest sales period followed by summer. Some sellers are averse to having their homes on the market over the holiday season preferring to wait until spring when the market is typically known to be more in their favor. This can bring about a decrease in inventory. This can be beneficial to both buyer and seller!
The price received for homes is largely a function of supply and demand and the more homes on the market the more competition. Buyers can become overwhelmed by too many homes for sale and sellers can become lost in the sea of inventory. This month we have decreasing inventory and most sellers still on the market are motivated making this an excellent time to find your dream home!
Tuesday, December 11, 2007
Feds Reduce Rate
Well the verdict is finally inl Feds reduced this time by .25%! We were hoping for more but at least we are moving in the right direction. The good news is President Bush's new plan to help out home owners with adjustable mortgages that are resetting. Actually a roll back to teaser rates for any loans taken out from January 2005 and set to reset from January 2007 forward. Some folks say "what's in it for me?" Even if you don't have one of these loans you should be able to see the devastation taking place in the market as homes are offered for short sale or foreclosed causing our values to continue to slide. This program should help by reducing inventory from distress sales that were caused by the increase in payments from adjustable loans. There are still obstacles in our path such as the availability of loans but I for one am hoping for a much better real estate market in 2008! Merry Christmas! and to all a good night!
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