The Cost of Waiting to Buy!

The financial news is full of stories warning about the inability to predict the bottom of the stock market. A 40% decrease in stock prices in one year have uncovered some great values available for investors and buying them at their absolute lowest price will not make much difference for the people who hold them for a while.

Home prices are very much the same. There has been a correction in the market and prices are down in most parts of the country. Combine these with the attractive rates currently available and it is a bargain that everyone will look back on saying that "this was the best time to buy."

Let's make an assumption that the prices may still decline 5% more before they start appreciating again. If while a buyer was waiting for the price on a $250,000 to go down 5% to $237,500, and the interest rate goes up one percent from 5.25% to 6.25%, which is entirely possible, the buyer's monthly payments will increase almost $79 per month.

(See chart at the top of the page)

For most buyers, the monthly payment to control the cost of the home is much more important than the price paid or even the equity in the home.

Give us a call and we can research some of the wonderful Homes out there, at amazing prices, that you may not see again.

Your Dream Home is now Affordable!

Good News if you Own a Condo

FHA previously regarded condos as multi-family units, requiring the entire building be FHA approved.
But with FHA Modernization, condos now will be treated like a single family home, making buying easier.

Summary of Real Estate Changes You Should Know About

1. The Tax Credit
Tax credits are special provisions that reduce income tax liability on a dollar for dollar basis. Credits are claimed on an individual's income tax return. In this case, Congress has created a tax credit for first time homebuyers. The maximum credit amount is $7,500. Si if you normally, do not get a refund, you will get an approx $7500 refund! THIS IS AN INCENTIVE AND PART OF THE HOUSING BILL SIGNED BY THE PRESIDENT TO HELP WITH THE HOUSING SLUMP.

Who can use the new tax credit?
Only first time homebuyers are eligible to use the credit.A first time homebuyer is definedas an individual who has not had an ownership interest in a principal residence in the previous three years.

Is there an income restriction?
Yes. Single or head of household are eligible if their income is no more than $75,000. Individuals who file a joint return may have income of no more than $150,000.

Is the amount of the credit ties to the price of the home?
Yes. The credit is for 10% of the cost of the home, up to a maximum credit of $7,500. If a home cost $65,000, the allowable credit would be $6500. If a home cost $120,000, the allowable credit would be $7500. The amount of the credit is the same for all taxpayers, married or single.

2. FHA and Condos:
Among FHA reforms, FHA previously regarded condos as multi-family units, requiring the entire bldg to be FHA approved, but now condos will be treated like a single family home, making buyibg easier.

3. Fannie Mae/Freddie Mac Bailouts:
The National association of Realtors Chief economist, Lawrence Yun, said the move would bring stability & help restore market confidence. It should lower interest rates and encourage lenders to expand mortgage loan operations, both of which should help the housing market.

4. Foreclosure Relief:
An estimated 400,000 struggling homeowners could avoid foreclosure with a new FHA program, Hope for Homeowners. The program began October 1, 2008 and ends September 30th, 2011. With $300 billion in federal funding, FHA will help homeowners with problematic sub prime loans to refinace to an FHA insured, 30 year fixed rate mortgage. One caveat is that lenders must agree to write down the loan to 90% of the appraised value. Eligible mortgages are those originated on or before January 2008, and borrowers must have a debt to income ratio of higher than 31%. For their part, homeowners must agree to share future equity of the home with FHA when the home is sold or refinanced. After 5 years, the equity split is 50%.

From the Good News Channel....

The Bottom Line is Good News!

Put it all together and what do we have? A recovering economy will help consumer and business spending to turn the corner and the economy to move to a self-sustaining pace. But it requires a catalyst to get things started. The tumbling housing market and subprime mortgage defaults have caused financial markets to freeze and have pushed the economy into a recession. However, recent rising home sales and some sustained momentum will bring the economy back into the fold.

Rising home sales will also thin out the housing inventory and begin stabilizing home prices. The credit market will start to unfreeze once home prices have passed bottom. Simply, the economy will not recover without a housing market recovery.

Fortunately, policymakers and both Presidential candidates clearly recognize the need to get the housing market moving. The two housing stimulus bills (homebuyer tax credit and higher loan limits), $700 billion Treasury plan and the Federal Reserve's actions are designed to assure steady mortgage flow and help revive the housing sector.

With it, the economy will expand and create jobs. America and its exceptional ingenuity always find a way to move past crises and back to economic prosperity.

Sign of The Times

Haunted Houses

Real Estate Humor

Don’t Let the Cat Out.

Realtors have many stories to tell about showing Homes… Here is one: I was showing my clients a two-story home, and as we walked back down the stairs we saw a cat run out the front door. I was mortified that I failed to close the front door and let the cat escape. Luckily, my clients were very understanding and spent 20 minutes helping me chase and capture the cat. Successful in our pursuit, we returned the cat to the house and went on our way. But the story doesn’t end there—the listing agent called me that night to find out if I knew anything about the strange cat the sellers found in their home when they returned from work.

Reasons not to Mess with Children.

A little girl was talking to her mean teacher about whales.
The teacher said it was physically impossible for a whale to swallow a human because even though it was a very large mammal its throat was very small.
The little girl stated that Jonah was swallowed by a whale.
Very Irritated, the teacher reiterated that a whale could not swallow a human;
it was physically impossible.

The little girl said, "When I get to heaven I will ask Jonah".
The teacher asked, "What if Jonah went to hell?"
The little girl replied, "Then you ask him. "

Need More Reasons Why 'NOW' is a Good Time to Buy a Home?

1. When you have a family, it’s always a good time to buy.

2. In this market, there are a lot of options

3. It didn’t make sense for us to spend the same amount of money renting something when we could own it.

4. Working with a REALTOR® took all of the guess work out.

5. This is the best market in years in terms of choice.

6. Interest rates are at historic lows.

7. Home choices have increased and prices are favorable.

8. If we didn’t buy now, we would have missed the opportunity on this home.

9. Buying a house is the best investment anyone can ever make.

10. It’s a great move-up market.

6 Truths about The Current Real Estate Market

From Illinois Association of Realtors Convention speaker and agent trainer Kim Daugherty presented these market truths in his session "Make Your Listings Sell."

1. Buyers buy after shopping around and they will be comparing your property to others currently on the market.

2. Sellers control the pricing and salability of their homes but buyers control the VALUE. A property is worth what the market will pay.

3. If a property sits on the market for more than a few weeks it gets shop worn (like a stale donut.) Price it right in the beginning while it is fresh and buyer interest is at its peak.

4. Most properties must be sold three times — to real estate agents with buyers, to the buyers themselves and then to the lenders who will loan the money.

5. What it means if there are no showings — agents don’t see your offering as worthy of showing to their buyers or buyers aren’t interested enough to look. If there are no offers, buyers don’t see enough value to even negotiate or try to buy.

6. Overpriced properties actually help well-priced properties sell.

Thinking of Buying a Home But Not Sure if this is the Right Time?

1. When you have a family, it’s always a good time to buy
2. In this market, there are a lot of options
3. It didn’t make sense for us to spend the same amount of money renting something when we could own it
4. Working with a REALTOR® took all of the guess work out
5. This is the best market in years in terms of choice
6. Interest rates are at historic lows
7. Home choices have increased and prices are favorable
8. If we didn’t buy now, we would have missed the opportunity on this home
9. Buying a house is the best investment anyone can ever make
10. It’s my job to help buyers make the right decisions
11. It’s a great move-up market.

Home, Home on the Not So Normal Range

Shaquille O'Neal's House , Why Won't It Sell?
Price: $29 million. Sold For: Not sold.

Basketball player Shaquille O'Neal has been trying to sell his home on Miami's prestigious Star Island off and on since 2005.The home has eight bedrooms, an indoor basketball court, gym, steam room and sauna. The 2.5-acre grounds include a tennis court, six-car garage, dock, two-bedroom guest house and Shaq's pool, complete with Superman logo. He has chopped a few million off the price but may have to go a bit lower if he wants to sell in the depressed real estate market.

If you would like to purchase this home, here is what you will need:

20% Down Payment: Approx. $5.8 million

Monthly Payment: Approx. $145,376 (Not including taxes & insurance)

Fabulous Tax Credit Plan For First Time Homebuyers!

These are the highlights to the new Government Housing Aid Plan to Stimulate the Slumping Housing Market:

1. How Does the Tax Credit Work?
Tax credits are special provisions that reduce income tax liability on a dollar for dollar basis. Credits are claimed on an individual's income tax return. In this case, Congress has created a tax credit for first time homebuyers. The maximum credit amount is $7,500. Thus, if a person had a tax liability of $8000, (these are the federal deductions withheld on your pay check) a $7500 credit would wipe out all but $500 of the tax due. THIS IS AN INCENTIVE AND PART OF THE HOUSING BILL SIGNED BY THE PRESIDENT TO HELP WITH THE HOUSING SLUMP.

2. Who can use the new tax credit?
Only first time homebuyers are eligible to use the credit.A first time homebuyer is definedas an individual who has not had an ownership interest in a principal residence in the previous three years.

3. Is there an income restriction?
Yes. Single or head of household are eligible if their income is no more than $75,000. Individuals who file a joint return may have income of no more than $150,000.

4. Is the amount of the credit ties to the price of the home?
Yes. The credit is for 10% of the cost of the home, up to a maximum credit of $7,500. If a home cost $65,000, the allowable credit would be $6500. If a home cost $120,000, the allowable credit would be $7500. The amount of the credit is the same for all taxpayers, married or single.

5. How do I apply for the credit?
There is no prepurchase authorization, application or similar approval process. Eligible purchasers will simply claim the credit on the appropriate IRS form1040 tax return.

6. What are the terms for repayment?
The credit amount is repaid in increments of 6.67% of the credit amount over 15 years. For individuals who take the full $7500 credit, the repayment will be about $41.88 per month or just $502.50 per year. Individuals who claim a credit of less than $7500 will also have a 15 year repayment period and will pay 6.67% of their credit each year. For example, an individual who claims a credit of $6000 will repay $400.20 a year ($6000 x .0667). There is no interest charge applied to outstanding balances.

This Program ends July 1, 2009. Take advantage of this great program. Call us for additional information.
Read more at: http://www.cathyhiggins.com/ look under the heading of Tax Credit.

18 Vanishing Things from the USA

1. News Magazines and TV News
While the TV evening newscasts haven't gone anywhere over the last several decades, their audiences have. In 1984, in a story about the diminishing returns of the evening news, the New York Times reported that all three network evening-news programs combined had only 40.9 million viewers. Fast forward to 2008, and what they have today is half that.

2. Honey Bees
Perhaps nothing on our list of disappearing America is so dire; plummeting so enormously; and so necessary to the survival of our food supply as the honey bee. 'Colony Collapse Disorder,' or CCD, has spread throughout the U.S. and Europe over the past few years, wiping out 50% to 90% of the colonies of many beekeepers -- and along with it, their livelihood.

3. Mumps & Measles
Despite what's been in the news lately, the measles and mumps actually, truly are disappearing from the United States. In 1964, 212,000 cases of mumps were reported in the U.S. By 1983, this figure had dropped to 3,000, thanks to a vigorous vaccination program. Prior to the introduction of the measles vaccine, approximately half a million cases of measles were reported in the U.S. annually, resulting in 450 deaths. In 2005, only 66 cases were recorded.

4. Personal Checks
According to an American Bankers Assoc. report, a net 23% of consumers plan to decrease their use of checks over the next two years, while a net 14% plan to increase their use of PIN debit. Bill payment remains the last stronghold of paper-based payments -- for the time being. Checks continue to be the most commonly used bill payment method, with 71% of consumers paying at least one recurring bill per month by writing a check. However, on a bill-by-bill basis, checks account for only 49% of consumers' recurring bill payments (down from 72% in 2001 and 60% in 2003).

5. Wild Horses
It is estimated that 100 years ago, as many as two million horses were roaming free within the United States. In 2001, National Geographic News estimated that the wild horse population had decreased to about 50,000 head. Currently, the National Wild Horse and Burro Advisory board states that there are 32,000 free roaming horses in ten Western states, with half of them residing in Nevada. The Bureau of Land Management is seeking to reduce the total number of free range horses to 27,000, possibly by selective euthanasia.

6. Hand-Written Letters
In 2006, the Radicati Group estimated that, worldwide, 183 billion e-mails were sent each day. Two million each second. By November of 2007, an estimated 3.3 billion Earthlings owned cell phones, and 80% of the world's population had access to cell phone coverage. In 2004, half-a-trillion text messages were sent, and the number has no doubt increased exponentially since then. So where amongst this gorge of gabble is there room for the elegant, polite hand-written letter?

7. Incandescent Bulbs
Before a few years ago, the standard 60-watt (or, yikes, 100-watt) bulb was the mainstay of every U.S. home. With the green movement and all-things-sustainable-energy crowd, the Compact Fluorescent Lightbulb (CFL) is largely replacing the older, Edison-era incandescent bulb. The EPA reports that 2007 sales for Energy Star CFLs nearly doubled from 2006, and these sales accounted for approximately 20 percent of the U.S. light bulb market. And according to USA Today, a new energy bill plans to phase out incandescent bulbs in the next four to 12 years.

8. Cameras That Use Film
It doesn't require a statistician to prove the rapid disappearance of the film camera in America. Just look to companies like Nikon, the professional's choice for quality camera equipment. In 2006, it announced that it would stop making film cameras, pointing to the shrinking market -- only 3% of its sales in 2005, compared to 75% of sales from digital cameras and equipment.

9. Answering Machines
The increasing disappearance of answering machines is directly tied to No. 20 our list -- the decline of landlines. According to USA Today, the number of homes that only use cell phones jumped 159% between 2004 and 2007. It has been particularly bad in New York; since 2000, landline usage has dropped 55%. It's logical that as cell phones rise, many of them replacing traditional landlines, that there will be fewer answering machines.

10. Ash Trees
In the late 1990s, a pretty, irridescent green species of beetle, now known as the emerald ash borer, hitched a ride to North America with ash wood products imported from eastern Asia. In less than a decade, its larvae have killed millions of trees in the midwest, and continue to spread. They've killed more than 30 million ash trees in southeastern Michigan alone, with tens of millions more lost in Ohio and Indiana. More than 7.5 billion ash trees are currently at risk.

11. VCRs
For the better part of three decades, the VCR was a best-seller and staple in every American household until being completely decimated by the DVD, and now the Digital Video Recorder (DVR). In fact, the only remnants of the VHS age at your local Wal-Mart or Radio Shack are blank VHS tapes these days. Pre-recorded VHS tapes are largely gone and VHS decks are practically nowhere to be found.

12. Phone Landlines
According to a survey from the National Center for Health Statistics, at the end of 2007, nearly one in six homes was cell-only and, of those homes that had landlines, one in eight only received calls on their cells.

13. Dial-up Internet Access
Dial-up connections have fallen from 40% in 2001 to 10% in 2008. The combination of an infrastructure to accommodate affordable high speed Internet connections and the disappearing home phone have all but pounded the final nail in the coffin of dial-up Internet access.

14. Movie Rental Stores
While Netflix is looking up at the moment, Blockbuster keeps closing store locations by the hundreds. It still has about 6,000 left across the world, but those keep dwindling and the stock is down considerably in 2008, especially since the company gave up a quest of Circuit City. Movie Gallery, which owned the Hollywood Video brand, closed up shop earlier this year. Countless small video chains and mom-and-pop stores have given up the ghost already.

15. Classified Ads
The Internet has made so many things obsolete that newspaper classified ads might sound like just another trivial item on a long list. But this is one of those harbingers of the future that could signal the end of civilization as we know it. The argument is that if newspaper classifieds are replaced by free online listings at sites like Craigslist.org and Google Base, then newspapers are not far behind them.

16. Stand-Alone Bowling Alleys
BowlingBalls.US claims there are still 60 million Americans who bowl at least once a year, but many are not bowling in stand-alone bowling alleys. Today most new bowling alleys are part of facilities for all types or recreation including laser tag, go-karts, bumper cars, video game arcades, climbing walls and glow miniature golf. Bowling lanes also have been added to many non-traditional venues such as adult communities, hotels and resorts, and gambling casinos.

17. The Family Farm
Since the 1930s, the number of family farms has been declining rapidly. According to the USDA, 5.3 million farms dotted the nation in 1950, but this number had declined to 2.1 million by the 2003 farm census (data from the 2007 census hasn't yet been published). Ninety-one percent of the U.S. farms are small family farms.

18. Chesapeake Bay Blue Crabs
Maryland's icon, the blue crab, has been fading away in Chesapeake Bay. Last year Maryland saw the lowest harvest (22 million pounds) since 1945. Just four decades ago the bay produced 96 million pounds.The population is down 70% since 1990, when they first did a formal count. There are only about 120 million crabs in the bay and they think they need 200 million for a sustainable population. Overfishing, pollution, invasive species and global warming get the blame.

Taken from Walletpop.com

More from the Good News Channel!

Buyers Getting off the Sidelines

The Mortgage Bankers Association of America reports that in its national survey last week, applications for new, conventional loans to buy houses jumped by 11 percent -- and applications for FHA insured mortgages were up by 17 percent. With home prices sharply discounted in many of the former high-flying boom markets, and down slightly in many other areas, smart buyers are recognizing that it's time to make their move.

-- “Real Estate Outlook: Buyers Off the Sidelines,” by Kenneth R. Harney, Realty Times,June 19, 2008.

Lansing Funnel Cloud June 7, 2008

Luckily no major damage or injuries from this scary storm.

Photo taken by a Lansing resident.

Tips for Increasing the Return on Your Home

Whether the market is slow or not, there are a few ways to increase your return in the sale of your home. The first is to "update" your home. Consider replacing old fixtures, old counter tops in Kitchen & baths. Remove out-of-date wallpaper & add a fresh coat of paint. Reface or replace the cabinets. With some updates you will make it stand out among the competition, and believe us, you have lots of competition!

New carpeting in neutral colors will greatly improve the look of your home. The old saying: “The buyers are just going to change the carpet to their own colors,” is not the way you should be thinking. You have to make the home look “updated” in order to get the buyer to even consider buying it!

Remodeling your kitchen or bath is in the big "plus" category. Don’t forget curb appeal. This will get the prospective buyer in the door and many buyers check out the area and exterior before deciding if they should go inside. Give your home that new paint job. Cut, trim & edge the lawn. Add some flowers, clean up the clutter. A little remodeling will not only bring it up to date, but make it stand out in the minds of potential buyers.

Give us a call. We know what is selling and we would be happy to make suggestions to get your home in salable condition!

How to Price Your Home to Sell

As a seller, you must strike a delicate balance between setting a price high enough to reflect the full value of your home and setting a price too high for the market to bear.
The following steps can help you determine a list price that finds that balance.

Here’s how we can help you:
We will perform a Comparative Market Analysis (CMA) to help you accurately determine the selling price of similar homes
We will analyze sales data and calculate market trends.
Make an impartial assessment of how homes for sale in your neighborhood compare to yours in terms of size, location, amenities and condition.
Give you an honest assessment of your home’s saleable condition and what you may need to do to get it sold.

Comparative Market Analysis and Market Research
We can accurately measure the value of your home through a comparative market analysis (CMA). A CMA provides information about recent selling prices of similar properties in your market. They also include information about area homes that failed to sell in recent months along with their corresponding list prices. We can help you obtain and analyze this critical information.

What Can I Do to get my Home Sold?

Q. My home isn’t selling. What can we do to get it Sold!!

A. Well, if we knew the complete solution, we could end the housing slump and turn the U.S economy around. Unfortunately, there are many reasons why homes do not sell quickly.
A year or two ago, homes in any condition were selling as long as they were priced at market value..... Dirty homes, homes that were not updated, along with beautiful & updated homes. There were plenty of buyers for homes in all conditions. We had investors. We had buyers with marginal credit scores. We had everyone wanting to cash in on the housing boom.

That’s not happening now. The homes that are selling are the homes that are clean, sharp & updated. That’s what today’s buyers want. If you have less than that, you will have to price your home less then those who have kept their Home updated. Those who kept their investment up…spent the money to keep it looking great, are the ones rewarded in this kind of market. Reality hasn’t set in on those who did not update & think their home is worth much more than it is. It doesn’t matter what you think your home is worth. It’s what the market says it is worth.

If you are thinking of selling. Give us a call. We’d be happy to come by and tell you what you need to do to get your home sold. Sometimes it doesn’t take much to get top dollar for your home. We are here to help you.

Q. Are there any positive improvements to the local real estate market?
Yes, there are several:

1. Homes sold per Month are increasing. The past 3 months there were 15.3 sales per month. We currently up to 23.0 sales per month.

2. Pending Sales are up. In February there were 23 homes awaiting closing. There are currently 43 homes awaiting closing.

3. Buyers are still uncertain of making a real estate investment & fewer buyers qualify for a loan under the stricter lender guidelines. The good news is that the current buyers are
more qualified and the chance for a successful closing are higher than ever!

4. Coldwell Banker properties are being viewed more. We track the number of showings on our office listings. There were less than 100 showings per week back in January. We are now up to almost 180 per week now.

Realtor Humor

The Realtor and the Dog:
I pulled into a crowded parking lot and rolled down the car windows to make sure my golden retriever had fresh air. She was stretched out on the back seat, and I wanted to impress upon her that she must remain there. I walked to the curb backward, pointing my finger at the car and saying emphatically, "Now you stay. Do you hear me?... Stay!.. Stay!" The driver of a nearby car gave me a strange look and said. "Why don't you just put it in park?" ??

Think Positive!

Q. Are their any positives in this current real estate market?


A. There sure are! Think about the whole picture. It always makes good sense to trade up in a buyers market. When prices are lower, it’s a one-time shot to get your hands on a bigger chunk of equity. For example, if you sell a $200,000 home at a reduced price of $184,000, you’ve in effect lost $16,000. But, if you immediately turn around & buy a $300,000 home at the same 8% discount, you’ll save $24,000. You have just saved $8,000 ! Remember, prices are not just down in Lansing & Lynwood. You can probably save more than 8% in many markets!

Home Appreciation

Q. On average, how much do homes appreciate each year? I know markets are local, but is the market set to improve this Year as 2008 progresses?

A. No doubt there is some mathematical answer to your question of average appreciation, but the answer is relative for several reasons. First, past results do not guarantee future outcomes. 2nd, all real estate is unique, so what happens on average does not necessarily relate to a given property. 3rd, the assumption that homes will always appreciate each year is simply wrong. Granted, home prices have dramatically increased in the area over the past couple decades, but they have slipped a little over the past year. As to what will happen in 2008, there are predictions floating around, all based on assorted presumptions & assumptions which together are nothing but glorified guesses, hopes, wishes & bar bets. Don’t listen to the sensationalistic news that says the market is crashing. There will always be buyers out there and some years will produce more buyer’s than others.

The Home in the picture is located in South Lansing at 3423-186th St. Very affordable & well cared for home for only $119,800. 4 bedrooms. Huge Kitchen and a 2.5 car garage with a 9 ft high door, perfect for your large toys.

Clean & Updated Homes

Q. Our Home is Clean but not updated. How will this affect the value of my Home?

A. Having a clean home is, of course, very important to prospective buyers. It seems buyer’s these days want a home that is clean AND updated. The average current buyer works 2 jobs and/or has kids with many activities, so they do not have the time to spend updating their next home. So, unless your home is priced much below the updated homes which are your competition, you can probably expect your home to have a longer market time (in this current market). There are many homes for a buyer to choose from. They will pick the home that is the cleanest & the most updated.
How long the current ‘buyer’s market’ will last is anyone’s guess. The best advice we can give a seller in a “buyers” market, is to update your home. You will not only enjoy the great look, but it will pay for itself somewhere down the road.

Where Have all The Buyers Gone?

Where have all the buyers Gone? Many homeowners who are trying to sell their homes have been asking that. The simple answer is that these homeowners need to look in the mirror. That is because every seller is waiting for his or her transformation into a buyer.

The typical scenario is that a seller will put their home on the market and wait for offers to come in. However, in many cases the offers are not coming in due to the current market’s “adjustment”. And this has lead to a surplus of homes for sale and a scarcity of buyers. That is what happens in a slowdown; a logjam of buyers trapped in their current homes as sellers.

As the home seller, if you are going to “wait until the right buyer comes along”, or “wait for the market to catch up to your asking price”, then you could be waiting for a long time.

Unfortunately, many sellers will make the mistake of holding out for an unrealistic price well beyond the point that it makes economic sense to do so. These sellers will be missing the opportunity to get a good deal on their next home. By waiting (and hoping) for the market to change in their favor, these sellers are forgoing the benefits of the current buyers’ market.

You can’t have the best of both worlds. If you are holding out for an unrealistic sales price, then you are predicting that we will find ourselves in a sellers’ market-or at least trending in that direction. And we can’t be in both a buyers’ market & a sellers’ market at the same time.

Featured Home with the Pool Picture is located in Lansing. 2851-193rd St. Very nice Quad level with 4 bedrooms, 2 baths. Family room. Basement. Formal Dining room. Inground pool with slide and all the extras.

Home, Home on the Not So Normal Range

A Real Estate Story. Some Say it is true:

A client bought a new home and the broker wanted to send flowers for the occasion. They arrived at the home and the owner read the card; it said "Rest in Peace."

The owner was angry and called the florist to complain. After he told the florist of the obvious mistake and how angry he was, the florist said. "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: Somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulations on your new home!"

Real Estate Facts & Comments

The National Association of Realtors has a very interesting website called Housingmarketfacts.com. Here are a few statistics:

• Over the past 30 years, home values have risen more than 6% annually.


• On average, a home price will double every 10 years.
  


• 60% of an average homeowner’s wealth comes from their home’s equity.


• The average homeowner’s net worth is $171,000. Renter’s have an average net worth of $4800.
  So STOP listening to the bad news. Watch the good news channel for a change. People change jobs & families grow making the buying of homes a necessity. The bottom line is take care of your home, do some updating,
  and your home will sell for a good price.

Featured Home is a Custom Built Brick Ranch with everything on the main level....Spacious (dream) Kitchen. Family room. Laundry room. Attached garage. Large yard. Hardwood floors. So many features. So well cared for. $175,900. Located at 2302 185th St in Lansing. More info & pictures at: www.coldwellbankeronline.com/06777536 or www.Cathyhiggins.com (view my listings)

Timing Your Next Purchase with the Market

Should you try and Time the Market for your Home Purchase?

Assuming you can figure out the ideal time to buy - that is, when prices have not only hit their low, but are on the verge of rebounding - by the time you find the house you want, line up the financing and close the deal, the "best" time may have already passed.
We feel now is an excellent time to buy, and a good time to sell if you are going to ‘move up’ — that is, buy a house more expensive than your current house — because you will probably end up catching a proportionately bigger price break on the new house than you may be giving up on the old house.
If the house of your dreams is available, go for it. After all, it may not be available months from now. Plus, interest rates are still fantastic.
As long as you plan on staying in the home for a while, any further drop in prices will be offset by once again rising prices sometime down the road. In all likelihood, you'll make money in the long run. That’s what history has taught us. The bottom line is: the best deal could be right now.

The Condo in the Picture is at 10340 White Oak Lane in Munster's White Oak Estates.
1625 sq ft with 3 bedrooms and 2 baths. 2nd floor with a Private Balcony. Attached garage.
For further information, call us or go to: www.Cathyhiggins.com (view my listings)