Great Rates! Time to Buy!

If you are looking for a home, now is the best time to buy because bank mortgage rates are really low!  I haven’t seen rates this low in my 25 years of selling real estate.  If you are able to take advantage of the low rates, do so now!  Find the home you want and trade up or down.  Don’t wait for rates to gain momentum.   The huge savings will keep your mortgage payments down.   View our listings online to see if you can find a home that suits your needs or call us and we will send you all the newest mls listings.  Don’t delay, borrow now when money is affordable!  Hire us to help you with your search and negotiations.

Trouble Selling?

Are you having trouble selling your home?

In a soft real estate market, you need to make your house attractive to purchasers.

Here are some important points to remember:

1. Make your home presentable!  Fix up, clean up, reduce clutter!
2. Price it to sell!  Do not over inflate the price!  Pick a sensible price!
3. Know your competition - study other housing values.
4. Work on curb appeal!  Make your home inviting on the outside and inside!
5. Hire an agent with a good marketing plan and include the MLS!
6. Make your home accessible and be ready to negotiate!
7. Preinspect your home before listing it and take care of necessary repairs
8. Be prepare to wait it out, be patient!
9. Encourage your neighbor to clean up his or her property too!

No market is easy and buyers are more finicky than ever!  The unemployment situation, foreclosure rates and housing inventory are making things more difficult for sellers, so listen to the buyer’s needs and encourage offers.

Why Inspections are important

When purchasing a home or investment, it is important to evaluate your needs as well as the condition of the property.  Purchasing real estate carries certain responsibilities.  Aside from a mortgage payment, there are water bills, utility bills, maintenance, lawn care, snow removal and a host of other issues.  Sometimes flooding, leaky roofs, water quality and mold or pest infestations can be a concern.  These are just a few things to look out for.  Inspectors will cover plumbing, electrical and structural reviews too.

Consider having a reputable inspector review the property you are interested in purchasing.  An expert’s advice can save you a lot of headaches and wasted money.  Don’t get emotionally attached to a property if the property has too many problems of concern.

It is better to know and be prepared than to be misinformed before you buy.  In today’s economy when money is tight, you have the right to know what needs repair and how much it will cost.

Spring Market - Tax Credit

As spring approaches, the federal tax credit enacted by Congress will expire unless Congress decides to extend it one more time.  Overall, the housing market took a real hit in 2009 with values dropping in most cities.  The forecast for this year is also expected to be slow and steady.  The U.S. economy is trying to recover and the federal government is now working on a new job bill to help stimulate the economy.  As jobs return, so will consumer confidence, but don’t expect miracles or a surge in pricing. Expect interest rates to continue to remain low.

In Broome County, NY residential homes sales were down about 9% from the previous year.  For the last 4 years the market has declined in the number of homes sold despite being named one of the most affordable places to buy in the country.

We can all hope that homes values will continue hold their value, but there is no certainty.  It comes down to supply and demand, interest rates, consumer confidence, needs of buyers, etc..  So if you are planning to sell this year, get your home on the market early and see what the market brings.  Buyers on the other hand will have to choose from the  inventory available and should try to take advantage of the tax credits while they last.

Trends for Tomorrow

The current economy has forced many residents to rethink their housing situation.  Many homeowners are choosing to downsize as taxes and utilities have skyrocketed.  Many empty nesters do not need as much home as they once did.  Where are you in the spectrum?  Upsizing or Downsizing? 

Today, we are seeing many homeowners in trouble as housing values have plummeted.  We are seeing smaller homes built with nicer amenities.  As lifestyles change, baby boomers will look for new alternatives.  How are you being affected? 

A Changing Economy 

Young folks are more mobile than ever and marrying later in life.  They are focusing on their careers.  Education carries a higher price. Many Americans now work two jobs without health benefits. The real question is how much debt can one acquire before feeling the pinch?  Smart investors live within their means and live a productive lifestyle.   What are your priorities and how do you want to live?  

Going Green and building smaller homes with nicer amenities will be the trend for most Americans.  Nothing remains static.  Observing the past and enjoying modern day conveniences changes our way of thinking.  What does the future hold for you?