With poll: Waiting until the new year, next spring or when the holidays are over to buy or sell a home

Many potential buyers and sellers right now are waiting to see what the future will be like before they decide to move and with good reason. The way the current economic climate is, your next move may be your last move for a while -- but there are a few very good reasons not to wait to buy or sell:


  1. Mortgage interest rates are at historic lows and they will not stay at these lows forever. This could far outweigh just waiting for prices of homes to further drop.

 2. Much less competition out there, whether you are a buyer or seller. If your buyer who was caught up in a
multi-offer position or a seller who was one of 10 homes on the block for sale your competition right now will be less.

 3.Constant changing in lending requirements by banks will decrease the amount of people able to get a mortgage to buy a home in the future. If you were able to get a mortgage 6 months ago, does not mean you will be automatically approved today or next summer.

4. More foreclosures to hit the market in 2011. With more current homeowners defaulting on current loans, distressed sales will continue in the next year further driving down list prices of all homes in neighborhoods.



flickr photo courtesy of awnisALAN

 The good news is homes are still selling! Despite all of the bad news, people are still moving and life goes on as usual. If you're a seller and your home is priced according what buyers are willing to pay, it will sell. If you're a buyer and your offer is competitive to what homes are selling for in the neighborhood, you have a good chance of getting a accepted offer.

poll by twiigs.com

Myths: The Earth Is Flat and Newspapers Sell Houses

Myths: The Earth Is Flat and Newspapers Sell Houses

Are you a homeowner who needs to know your options?

flickr photo courtesy of Beatrice Murch

I routinely talk with people who are looking for answers for a real estate situation they are facing.Whether they are needing to refinance, needing to short sale their home or facing a foreclosure. Many people only think they have one choice or no choices at all when it comes to these situations. The answer is they have several options available and one that should get them where they need to be. I came across a great website by Fannie Mae that explains in detail almost all of the options out there and contact information for counselors who may be able to point you in the right direction. Click the link below for the website.

http://www.knowyouroptions.com/

How Rising Interest Rates Will Impact Affordability

How Rising Interest Rates Will Impact Affordability

Why Are House Prices Falling?

Why Are House Prices Falling?

This Month in Real Estate (US) : November 2010

Don't let mold turn your dream house into a nightmare - AnnArbor.com

Don't let mold turn your dream house into a nightmare - AnnArbor.com