Tuesday, November 22, 2011

What's Happening with The Real Estate market?

The engine is revving, we see activity on the rise. We feel 2012 is going to be a good real estate year. Interest rates are still low, making a mortgage affordable to more buyers.
Almost everyone prefers a home to renting an apartment. Yea it's work. But it's not that much work and every bit of work you do to your home is an investment in current enjoyment and future profit.
Why do people prefer to own over rent? It's Yours - when you own your Home instead of renting it, you get to mold your living space into whatever you need or want it to be. You don't need to ask permission from a landlord. And usually Landlords will say no, or you'll lose some of your security deposit because of your changes.
Sense of Security - Studies have shown that kids raised in ahome that is owned by their parents rather than renting have a lower rate ofpregnancy and drug use. This has been attributed to the fact that mosthomeowners stay in one place for a longer period of time rather than moving around from place to place like renters tend to do.
Also, if you have a fixed rate mortgage, you know what your monthly payment is going to be two, three, five and even ten years down the road. Rent, on the other hand, will rise, depending on how long your lease is.
Even in these difficult times, Americans still realize the value of homeownership both from a financial and social standpoint.draft

Tuesday, November 1, 2011

Getting Top Dollar for your Home

Q. I know similar homes sell for different prices based on condition. What can we do to our home to get top dollar when we decide to sell?

A. Based on your financial situation, do some type of updating every year. From painting or adding new flooring, to
kitchen or bath remodeling. Many of these updates can be done yourself. Flooring is so easy to install now & all the big home improvement stores will provide expert consultation. You can even Google: How do I install a wood laminate floor?

Getting top dollar is the result of supply & demand. If the supply of sharp, updated homes is low, which it usually is, your updated home will get top dollar: Low supply, high demand. If your home wow factor is average or below, you will have lots of competition: Supply is high, demand is low. This will drive your home price lower, because you have lots of competition. We are currently in a buyers market. Buyers will choose the best deal based on condition & price.

The bottom line is keep your home updated. You will not only enjoy the beauty while living in your home, you will get top dollar when you decide to sell. When we do market evaluations for our customers, we make suggestions that will help them get the best possible price for their home. We would be happy to assist you.