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
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.