Winter has put a kybosh on the showings of many houses. With snow piled up to the window sills most sellers are trying to dig out if not their houses then the neighborhood . Hang in there! We are only 33 days to spring! Yea, before you know it the heat of summer will be our next complaint! Oh to just feel that warm summer heat on our faces instead of the furry muffler wrapped around us to keep us warm! Since groundhog day with 6 more weeks of winter I know that there are ways to beat this cold. First take a brisk walk in the snow its better than putting weights around your ankles. Take the kids sledding hiking up that hill will get your blood pumping. How about going for a swim at your local YMCA or fitness club? There are lots of ways to get rid of cabin fever and winter blues. Don't forget to make that snowman or Igloo! Enjoy this quirk of nature when it hits the 90's in the summer you'll wish you had socked away some of this good cold stuff for your air conditioning! Happy winter!
Has your neighborhood stablilized?
In this area we are seeing stablizing prices and some multiple offers. Buyers are looking to get good deals but losing out on great properties because they want to put in low offers. I have such experiences with my buyers recently and we are losing properties to buyers who are not trying to under value the property they want to buy. If you are in that position be aware that you should understand how the market works. We are now pricing properties where they should be. Sellers have figured out that if you price it well that it will sell. Buyers have not done their homework with the neighbohoods they are looking. I suggest that you get educated on what your neighborhood is doing price wise then you will be successful in your sale or purchase in the future.
Okay so I have been slacking in keeping up with my Blog. I know that everyone is watching what is happening in the economy. It's obvious when you go to the beach on the 4th and you can find a parking space and the traffic is tolerable. Less people on the roads and less people spending money is not a good thing but great for me who dreads the traffic and the crowded beaches. But all is good on the home front and I mean the home front. Properties are selling Delaware if they are in good shape, well maintained and priced properly. Did I say priced properly? Well that is the crux of the matter. Most owners feel that their house is worth more than their neighbors and try to sell for more. You can do that if you offer the consumer more for the money like a bigger yard, newer kitchen and bathrooms, better overall condition, great curb appeal. It has to be worth the extra for you the seller to get more. I suggest that you preview any competing properties before you price your house to sell. Look and see what you are offering compared to your neighbors. If you come up short, take that into consideration when you price your place. Remember we all want value and you want to get what you pay for period!
Here's a bit of information that I just found out...
According to the National associtation of Home builders website: Not all of the buyers need to be first-timers--"Unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter." That opens the doors to a lot more buyers. It can make or break a deal for someone struggling to get their funds together. Very cool Huh!
As tough as the economy is this survey offered by RISMedia magazine was published to say that Americans are not willing to give up the play time and would be willing to find alternatives just to have fun.
The survey found that:
-Vacations are vanishing. -With the state of the economy looming large, its not surprising to learn that vacations are taking a hit in 2009. -70% of Americans wont be taking a vacation this summer due to the economic climate. -In place of a vacation, nearly half of survey respondents (48%) plan to stay home and enjoy time with friends and family. -Americans are fun-deprived -Despite the dismal state of the economy, survey respondents recognize that fun is still important. One in three Americans say they are more in need of a dose of fun this summer than they are in need of financial relief. -40% of people would give up their cell phones for a full week in exchange for one month filled with fun every single day; 6% of people would be willing to forgo showering; 53% would give up dessert. -For one in three respondents, it has been more than six months since they last had a truly fun night out. In fact, 14% cant remember the last time they had a fun night out. -65% say they have difficulty finding affordable, fun activities to do when making plans for the summer.
Hopefully you have recovered from your weekend and are ready to get your house hunting going again. Having myself had company and being very busy I too had a long weekend. However the market is calling and I am ready to go! Did you know that you can find almost any property online? If you are just starting to look there are lots of places to find what you want. I have provided three states (see Maryland or Beach properties) on my website alone and there are many more locations to look. While searching the internet remember to check out all the information on the web before pursuing these properties. Don't forget to check the property taxes they can add a good deal to the cost of owning. If you are considering a condominium check the monthly fees. Also ask if they have any special assessments coming up? Sometimes condo associations do major renovations or repairs to their buildings and they assess the owners for the repairs or renovations. These charges can be very expensive and if you don't have it in your budget can cause you a lot of stress on your personal finances.Have a geat short week. I will be putting other tips in my coming soon Newsletter....
What qualifies as a first time home buyer?
Most people think that the first time homebuyer is someone who has never owned a home. In the state of Delaware you qualify as a first time homebuyer if you have not owned a home in the last three years. This is good news for those who would like to take advantage of the state bond which has settlement help and or closing money. In the state of Maryland a first time home buyer is anyone who has not owned property in that state. So if you own a home in another state you would still qualify for a transfer tax exemption as a first time home buyer. (there now you can buy that river front home or better a summer house on the water). Each state has its on rules as to who qualifies for this benefit. Federally to get the $8000 tax credit you must have never owned any home or been on the title of a home with someone else. If you want to learn more about this and other real estate questions e-mail me at email@example.com . I will be more than happy to help with your questions
What are the big guns saying?
This Quote from National Association says it all:
The data NAR reports is clear and unaltered.Real estate is a local business, so its important to stress that many markets are not experiencing the same conditions.There will always be markets that are slow and others that are strong.We report both aspects in an open and honest manner, and we encourage the media to look beyond national trends.Thats our job as the National Association of REALTORS®.
Where to start?
One of the most difficult things to do to get started buying a home is to ask "how much does it cost?" Most buyers think you must have a ton of money to get into a new home. You do need to have money it is not free however you can get in cheaply if you know how. It is the job of your Realtor to educate you on the process. When you learn how to buy a home then you will be better at negotiating a great deal for yourself and save lots of money in the process. I make it my business to get buyers comfortable with the process so that there are no surprises in the end. When you know what you are doing you can do it well. Remember to learn the process before trying it. A mistake of this proportion is significant and can cost you lots of money. Make sure you get a pre-approval from a reliable mortgage company.
Have you heard?
Wow a friend of mine has been complaining that her buyers have been in multiple offers for the last three houses that they tried to purchase. I guess we are seeing the spring market emerge healthy and strong. If not for the best interest rates in decades and the invnetory waiting to be bought, the buyers have a great deal in a lot of ways. Bargaining power has never been stronger and the inventory never better. The interesting thing is that the sellers are wising up to pricing the property effectively to get buyers to buy. Hence the mulitple offers arrive. You can get into a bidding situation if you as a seller put your property in great condition and price it fairly you will see it sell and quickly, possibly with mutliple offers. The market has bloomed and if you can take advantage do so now while the buyers are busy looking.