Real Estate News You Can Use

June 2008

 Risé Johns ASR®, CRS®, GRI

SEPARATING FACT FROM FICTION

        If we rely on national news, we will believe that house prices are either falling or soaring at any given time.

      The fact is a handful of major markets that have benefitted from rapid appreciation and numerous housing starts are experiencing what economists call a “correction,” meaning house values are falling.

      Fortunately, the national numbers don’t represent Texas, which is one of the fastest growing states in the country.  People are moving here and need a place to live.  Appreciation rates are up in our major cities and higher in resort areas.

      The mortgage crisis has made some buyers have a “let’s wait” attitude.  Assuming interest rates are at an all-time low, a “wait and see” attitude can cost a buyer many thousands of dollars in the long run. A mere one-half percent climb in interest rates can have a significant impact on a buyer’s costs.

      A final note: the best homes always sell.  For instance, if sales are down 15% in an area, sellers need to be sure their home is in the top 85%.  Since buyers are also looking at new homes, they would like to see some of the new stuff.  The answer is to update your home.

      With the help of your Realtor, decide if your home would make the top three on a ten-showing day.  Make your home a gem as the gems sell first.  Most people dealing with a move do not want to fix, replace or paint anything.  Sellers, make your home an extraordinary gem as people buy the gems.

 Risé Johns has been involved in real estate for over 27 years.  Her knowledge, experience and customer service will make your next real estate transaction a smooth one.  Call Risé at (512) 267-LAGO for “World Class Service.”