|
|
|
Before Selling Your Home
Here are some important steps you should take before you put your house on the market:
1. Home Loan Approval for your next Home
You don’t want to be signing a contract to sell your house before knowing if you are qualified to buy another....
Common Architectural Styles
Have you ever heard a home referred to as a Tudor, or a Colonial, and wondered exactly what those terms meant? Have you tried to describe your home to others, and had trouble finding the right words? Maybe you're trying to plan your dream home, and...
Home Equity – Let The Market Eliminate Your Private Mortgage Insurance
In decades past, most people who were interested in obtaining a home loan were required to put down at least 20% of the purchase price. Those days are gone, and as home prices have risen faster than incomes, the average down payment required by...
Sell A Home For Free
When selling or buying a home, the realtor commissions can take a serious bite out of your profit. Here’s a primer on how to sell a home for free without commissions.
Sell A Home For Free
When many people think of a real estate sale, they...
Selling Your Home Starts At The Curb
Have you been considering selling your home in the near future? If you have, then it wouldn’t be a bad idea to take a good long look at your home, using an unbiased eye.
After all, a clean, appealing, well maintained home has much better odds of...
|
|
| |
|
|
|
|
|
|
Is The Hot Real Estate Market Cooling Down?
We’ve been living in the high flying world of a hot residential real estate market for the last three years. Is it slowing down? What does it mean for buyers and sellers if it is? Do buyers and sellers need to change their strategy?
Is the Market Slowing?
I live in Virginia in what is sometimes referred to as “the greater Washington, D.C. area.” Things have been changing in the last few weeks. Houses which were selling in a few days to a couple of weeks are now taking a month or two to sell. There are more houses which are expiring or being withdrawn from the market without selling at the asking price. I’m also beginning to see some modest price reductions. The market is still strong, but there are abundant signs that it is moderating.
There have been bits and pieces in the public media to indicate that something similar maybe happening in other parts of the country. I believe it probably is and would welcome anecdotal and observational input from you if you’re in a position to see changes in your area.
What It Means for Sellers
You need to be more patient if you are a seller. When the market slows, there is less “instant gratification” for sellers. You need to hone up your marketing and negotiating skills if you’re a FSBO (for sale by owner). You need to shop for a Realtor with marketing and negotiating skills if you choose to use the services of a broker.
Sellers in a cooler market need to realize that the sale of their home has become more sensitive to the price issue. The market really does “speak.” If you have a good marketing program in place and are not getting several showings per week, your price is probably too high. You can lower it in $5,000 increments until “traffic” picks up and you are getting several showings each week.
Sellers need to resign themselves to the fact that, in cooling markets, they are not likely to get multiple offers. Therefore, when a decent offer
comes in, give it respect and real consideration. It may not be “the only game in town,” but contract offers aren’t “a dime a dozen” either.
What It Means for Buyers
It’s still a good idea to shop for a home with a really strong “lender letter” in hand, but, in a cooling market, buyers don’t need to make a quick offer on the first home which is adequate for their family’s needs. They can take a little more time, and compare houses before making an offer. The home they ultimately choose to make an offer on will probably still be available twenty four or forty eight hours after the first viewing.
Buyers whose contract offer includes a provision for a home inspection are not as apt to be displaced by an offer with no such provision as does happen when the market is sizzling hot. Another change is that buyers who offer less than full price are not so apt to be laughed out of town. They are more likely to receive a counter offer naming a price somewhere between the asking price and the offer originally made, or they may receive a counter offer at full price but with some other concession offered.
In Short
A cooler market can be healthy for both sellers and buyers. Homes can still sell at generous prices. Some of the frantic pace slows, but there’s still plenty of activity. With any luck, that’s the sort of market we’re entering now. Maybe the “Fed” will even be able to “pause” its interest rate increases.
About the Author: Raynor James is with http://www.fsboamerica.org - FSBO homes for sale by owner. Visit our home buying page at http://www.fsboamerica.org/buyer.cfm to see homes for sale by owner.
Source: www.isnare.com
|
|
|
|
|
| Real Estate, Property, Land and Homes for Sale, lease and rent ... |
| Comprehensive real estate and property listings. Includes information on buying and selling, tips on building, an auction timetable and other helpful ... |
| www.realestate.com.au |
|
| Real Estate | Homes for Sale | Houses for Sale | MLS Listings ... |
| RealEstate.com provides home listings , homes for sale , REALTORS , house listings , apartment locating services. We have Florida real estate , Texas ... |
| www.realestate.com |
|
| REALTOR.com: Real estate listings & homes for sale |
| Search for a new home or find mortgage rates, real estate agents, and relocation services throughout the US, Canada, and Puerto Rico. |
| www.realtor.com |
|
| Real Estate on Yahoo! Real Estate - Homes, Mortgage Rates, School ... |
| Yahoo! Real Estate is the most comprehensive place for real estate, housing market information, school reports, local mortgage rates and more! |
| realestate.yahoo.com |
|
| Find Your Home Value, House Values and Prices on Yahoo! Real Estate |
| Yahoo! Real Estate - Free instant home values and comparable home valuations for millions of houses. Check your home's price or any house value. |
| realestate.yahoo.com |
|
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses ... |
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses for sale at Realestate.co.nz. |
| www.realestate.co.nz |
|
| Real Estate - Buy, Sell or Rent a Home - New York Times |
| Online real estate listings for properties in New York and nationwide. |
| www.nytimes.com |
|
| Century 21 Real Estate Agents and Brokers |
| Agency with franchised offices throughout the United States, Canada, Europe, Latin America, the Middle East and Asia. Find local offices and agents, ... |
| century21.com |
|
| Zillow - Your Edge in Real Estate |
| Zillow provides a free Home Valuation Tool for Real Estate enthusiasts. Whether you're an agent, broker, buyer of investment property or first time ... |
| www.zillow.com |
|
| STLtoday - Homes |
| Real estate agent revels in the boom in downtown St. Louis living ... [more real estate news as seen in the St. Louis Post-Dispatch] ... |
| www.stltoday.com |
|
| Real estate - Boston.com |
| Boston Real Estate - Search the Boston Globe and Boston.com for Massachusetts Real Estate, Boston Condos, Land for sale, Vacation Rentals and more. |
| www.boston.com |
|
| ABCs of Real Estate |
| Real Estate ABCs consumer tips, hints, and resources for home buyers, sellers, and mortgage borrowers. |
| www.realestateabc.com |
|
| washingtonpost.com - Washington DC real estate, Maryland real ... |
| Washington, DC, Virginia and Maryland homes, real estate news and headlines. [Registration required] |
| www.washingtonpost.com |
|
| Coldwell Banker Real Estate Corporation |
| Real Estate from Coldwell Banker ®. Buying a home, selling a home, or finding a real estate agent is easy with Coldwell Banker. Find a home, sales associate ... |
| www.coldwellbanker.com |
|
| Detroit News Online | Real-Estate |
| Sellers around the state have been frustrated with the slow sales patterns of Michigan real estate over the past year or two. But buyers have been enjoying ... |
| www.detnews.com |
|
| Newsday.com - Long Island Real Estate for Nassau County and ... |
| In a real estate market increasingly defined by niches, ... Real Estate Resources. Search by school district for recent home sales in Nassau and Suffolk ... |
| www.newsday.com |
|
| Real Estate for Sale, Rent and Share @ Domain.com.au |
| Real Estate for Sale, Rent and Share @ Domain.com.au. Houses and apartments for sale or rent all over Australia. Thousands of properties in Sydney, ... |
| www.domain.com.au |
|
| Luxury real estate news and features - Forbes.com |
| Luxury real estate news and features at Forbes.com. Core topics include real estate, mansions, condos, co ops, oceanfront realty, second homes, ... |
| www.forbes.com |
|
| Real Estate News - Prices, Mortgages, and Calculators from CNNMoney |
| Latest on mortgages, refinancing, & home tips from CNNMoney.com. Calculators for refinancing, mortgage payments and more. |
| money.cnn.com |
|
| Los Angeles, California, national and world news, jobs, real ... |
| Los Angeles' leading online source for local, state, national, world, entertainment, and sports news. Plus jobs, real estate, cars and shopping information ... |
| www.latimes.com |
|
|