If a little paint is needed will you do it to get your house SOLD?
Why is it that everyone who is trying to sell their house is always complaining about the market conditions and yet still refusing to do what is suggested to move their property?
Today with inventory up and fewer buyers jumping into home ownership and the tax credit days numbered-sellers need to get on board with doing what is needed to neutralize their homes.
A little paint & scrub brush can go a long way- along with fresh linens, new hardware, a new light fixtures are inexpensive and well worth the few $ and time.
In the end a small investment will be much less than a price reduction.
I suggest seller invest 1% to get their homes market ready. With price adjustments from $5k-$10k a small investment can go a long way.
For more info on staging visit http://www.YorkHomeListings.com/staging.html
& Return on staging investments.
Tuesday, October 13, 2009
Monday, October 5, 2009
"Sales Stats for York PA thru 8-31-09'
Well the stats for year over year sales for the York PA area are here. Overall the York PA area has seen a 3% decline in Median home prices and a 7% decline in the total units sold compared to same period in 2008. Many in the Real Estate profession here locally in York PA expected total units sold to be above the 2008 lows with incentives like FHA interest rates in the high 4's to low 5%'s, a $8000 Tax Credit for 1st time buyers, aggressive listing prices and a PHFA $5000 Tax Credit Advance to help 1st timers enter home ownership.
Compared to our -27% decline in total units sold thru August 2008 over same period in 2007---all in all I am please at the 1st eight months of this year----it will be interesting to see what happens over the traditionally slower 3rd & 4th quarters. With the possibility of the Fed's not extending the 1st time buyer tax credit I would expect to see these numbers continue to adjust downward thru 2010.
Many different areas have been affected by this ever changing market --- some areas, like the Central and Dover School District areas have seen price adjustments for the 1st eight months at -4 out of 16 reporting districts reports a small increase in Median values-----this does not factor in closing cost assistance paid by sellers which can further adjust the prices by 3-6%.
Whether you are looking to sell your present home of looking to make a purchase being informed of the market affecting your investment is imperative.
Follow the statistics as they are posted by visiting http://housingstats.yorkhomelistings.com
regularly.
Compared to our -27% decline in total units sold thru August 2008 over same period in 2007---all in all I am please at the 1st eight months of this year----it will be interesting to see what happens over the traditionally slower 3rd & 4th quarters. With the possibility of the Fed's not extending the 1st time buyer tax credit I would expect to see these numbers continue to adjust downward thru 2010.
Many different areas have been affected by this ever changing market --- some areas, like the Central and Dover School District areas have seen price adjustments for the 1st eight months at -4 out of 16 reporting districts reports a small increase in Median values-----this does not factor in closing cost assistance paid by sellers which can further adjust the prices by 3-6%.
Whether you are looking to sell your present home of looking to make a purchase being informed of the market affecting your investment is imperative.
Follow the statistics as they are posted by visiting http://housingstats.yorkhomelistings.com
regularly.
Saturday, October 3, 2009
To Sell now or wait?
If you want to buy up should you do it now? Or wait til prices come down a bit more?
For many existing home owners this is a common question. In most cases selling now while you have equity to produce the funds needed for today's financing - down payment & closing costs- selling now and buying that dream home is my recommendation. We know what comparable properties are selling for and can determine how much of that equity you need for your purchase. We also know that today we have interest rates around 5% or lower.
Waiting til that dream home comes down another $15k, $25k or even $40k may seem like a good reason to wait however what many existing home owners do not realize is that while their dream home adjusts in price so does their existing home.
Many existing home owners are putting themselves at risk of not having the money to make their purchase. As the market adjusts so does they cash funds that are needed to purchase that dream home.
It is imperative that home owners be fully educated about the possible risks if waiting for a slightly better price on that new house.
1. Interest rates of the future are unknown- they can't get better that what we have today.
2. The criteria for a mortgage approval is changing all of the time- today we have stricter guidelines than just a few months ago with higher credit score requirements and tighter debt-to-income ratios.
3. While they wait for anticipated price adjustment on that dream house to hit-their existing house is also adjusting. The money needed to make a purchase is dwindling away every time the market adjusts down.
4. More competition will be in the market place. More seller will be putting their "starter" home on the market increasing the available competition and these sellers will now also be looking for those "good" deals of "buy up" properties. This will limit your ability to negotiate as there will be more and more players all going after the same inventory.
Today we have an abundance of homes available in all price ranges and in all areas.
Taking advantage of the "Right Now" is my suggestion for most consumers who are looking for a place to call home for at least the next 5 years.
Whether you are a 1st buyer, a seller looking to buy up or downsize or looking to exit the home ownership world- ACT TODAY - waiting just might cost you thousands in the end and prevent your dreams from ever coming true.
For many existing home owners this is a common question. In most cases selling now while you have equity to produce the funds needed for today's financing - down payment & closing costs- selling now and buying that dream home is my recommendation. We know what comparable properties are selling for and can determine how much of that equity you need for your purchase. We also know that today we have interest rates around 5% or lower.
Waiting til that dream home comes down another $15k, $25k or even $40k may seem like a good reason to wait however what many existing home owners do not realize is that while their dream home adjusts in price so does their existing home.
Many existing home owners are putting themselves at risk of not having the money to make their purchase. As the market adjusts so does they cash funds that are needed to purchase that dream home.
It is imperative that home owners be fully educated about the possible risks if waiting for a slightly better price on that new house.
1. Interest rates of the future are unknown- they can't get better that what we have today.
2. The criteria for a mortgage approval is changing all of the time- today we have stricter guidelines than just a few months ago with higher credit score requirements and tighter debt-to-income ratios.
3. While they wait for anticipated price adjustment on that dream house to hit-their existing house is also adjusting. The money needed to make a purchase is dwindling away every time the market adjusts down.
4. More competition will be in the market place. More seller will be putting their "starter" home on the market increasing the available competition and these sellers will now also be looking for those "good" deals of "buy up" properties. This will limit your ability to negotiate as there will be more and more players all going after the same inventory.
Today we have an abundance of homes available in all price ranges and in all areas.
Taking advantage of the "Right Now" is my suggestion for most consumers who are looking for a place to call home for at least the next 5 years.
Whether you are a 1st buyer, a seller looking to buy up or downsize or looking to exit the home ownership world- ACT TODAY - waiting just might cost you thousands in the end and prevent your dreams from ever coming true.
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