An article from RealtyTimes.com reports that nobody is going to blow a whistle and say, “It’s time to buy!”, so it’s important to pay attention to these signs in your marketplace.  One important sign to notice is when inventories start to decline.  This usually means that the best buys are leaving the market, and best doesn’t necessarily mean cheap.  Another sign is when mortgage applications increase, particularly purchase applications.  This means homes are about to leave the market, so less inventory means firmer prices and sellers will stop dropping their prices.  And finally, pay attention to the reduction in days on the market.  When DOMs are shorter, that could be a sign that a seller’s market is coming.  

Stop paying attention to the national media.  Fear has sidelined buyers even in good markets, and that’s exactly when you need to take advantage — before other buyers wise up.

Second, be ready to pounce when you see the home you want.  Don’t let this opportunity pass you by.  If you are in the market for a new home, now is the time.  Mortgage Rates have dropped and there are lots of homes to choose from.  Waiting for the market to “bottom out” could mean that you miss the opportunity to buy a great home, at a great price, with a great interest rate.

Some homebuyers have asked me how they can be sure if the values have dropped as much as they are going to.  Well, no one has a crystal ball.  Just as no one expected the boom we had in real estate here in the valley a few years ago, and no one expected just how far the values would drop, no one can be 100% certain that they have fallen all they will fall.  But buyers need to look at the overall picture.  If the mortgage rates are good, there are a lot of homes to choose from, and sellers are dealing, then NOW IS THE TIME!  You just might find the home of your dreams!

Give me a call.  Let’s talk.

An article from RealEstateJournal.com reports that in order to sell a home in 2008, it’s time to start thinking about how to make it stand out from the rest.  According to Cheri Kuhn, owner of Waters Realty in Minnetonka, Minnesota, in selling a home “it’s more important that it’s neat, it’s clean and it looks spacious, rather than making sure it’s the top of the line.”  A recent study by a Remodeling magazine said homeowners aren’t able to recoup as many improvement costs as they did in recent years. 

Here are a few tips to keep costs down and remodel wisely.  The First tip is to get a home inspection BEFORE listing the property.  Problems that could hold up a sale can be addressed in advance.  Another tip is to pay attention to exterior details such as the condition of siding and windows.  The Remodeling survey showed that a wood window replacement recovers an average 81% of cost at resale.  Finally, freshening up the bathroom can be an important and inexpensive way to help sell the home.  Consider replacing cracked tiles, as well as the sink and the toilet, if needed. 

Pack away personal items in boxes and, if possible, rent a storage unit.  If you are unable to rent a storage unit, stack the boxes neatly in the garage or in some other out of the way place.  This will make your home look bigger and uncluttered.

Walk through your home with a critical eye.  Put yourself in the shoes of a homebuyer.  Make sure your baseboards are clean and look fresh.  Spot clean your doors where little fingerprints seem to build up daily.  Buyers are looking for their next home.  There are lots of homes to choose from.  Make your home the one that they remember!

To see the rest of this article, please click on the following link:  Real Estate Journal