Saturday April 24, 2010

Sales continue upward!  Latest online news articles talk about new home sales surging, biggest jump in 47 years - according to MSNBC. Markets differ around the country, overall our market is still strong and homes continue to move.  If you are considering selling your home but aren't sure where to begin, click on this link http://www.msnbc.msn.com/id/36699743/ns/business-real_estate/ to read about what it takes to be a competitive home seller in today's buyers market.  The key ingredients; Price Low, Present Well and Wait.  I tell my sellers it's good to look at sold comps to obtain a listing price on their home but also look at the current competition - properties in escrow and how quick they are selling.  I recently listed a home in my neighborhood and we received an offer in less than two weeks; not bank owned or a short sale.  If you are considering listing your home for sale now is the time! There is a large pool of qualified buyers out there ready to write an offer!

Friday April 16, 2010

For those of you last minute tax form filers, I am one of them too, Tax Day is over - Yahoo!  Which brings me to a reminder of the $8000 Home Buyer Federal Tax Credit.....The deadline is quickly approaching.  In order to participate in this program a buyer, first time or second home, must be in contract no later than April 30th and close escrow no later than June 30th.  That only gives you 14 more days - 2 more weeks - to get into an accepted contract on your next or first home purchase.  First timers can qualify for up to $8000 and 2nd home buyers can qualify for up to $6500. Don't miss out on this great opportunity!  With over 80 well priced, active homes for sale in Hidden Valley Lake and super low/attractive interest rates this is a great time to be a buyer!

Monday April 12, 2010

Everyone is talking.....talking about Real Estate.  No matter where I go I always get the questions.  'How is the Market?" "Are you selling anything?" "Can I get a loan?" "Are there more foreclosures coming?" "When do you think we will recover?"  The answers are; Good, Yes, Yes, Yes and Not Sure (read detailed answers below).

Today's Market is still considered a buyer's market.  Driven by foreclosure prices, low interest rates and the Home Buyer Tax Credit, Buyers have been in the drivers seat.  As long as the prices remain lower and rates affordable it will continue to be a buyer's market.  The Tax Credit ends soon so if you are a buyer get into contract before April 30th!

This year has turned out to be great for sales! Year to date I have closed 12 escrows and have other client's waiting the wings to close.  I work with buyers, sellers, short sales, foreclosures, conventional sales....you name it - I can handle it!

Getting a loan is easy as 1-2-3!  First, connect with a reputable lender and learn what programs are out there for you.  Second, get pre-approved for your first or next home purchase.  Third, take your purchasing power with you when you go house hunting and submit that pre-approval letter with your offer.  Getting pre-approved is essential......you will know how much home you can afford.  Don't be scared, I work with many lenders and am happy to refer one to you!

Unfortunately we are expecting more homeowners to lose their homes.  Lenders have not been completely successful in assisting homeowners looking for loan modifications.  Short sales can be very lengthy and with no approval the lender can and does foreclose on homes.  According to ForeclosureRadar.com there are approximately 80 homes in pre-foreclosure status in Hidden Valley Lake and if these property owners cannot save their homes more than likely they will be sold in foreclosure and re-listed for a new potential owner.

Recovery......this is a tough one.  My opinion, until all the foreclosures are listed and sold our market will remain the same.  As long as the Fed keeps the interest rate low buyers will still buy homes no matter if we are in a buyer's or seller's market.  Everyone moves no matter how the market is.

If you are interested in buying property shoot me an email, jennifer.mullin@century21.com.  I can sign you up on an automatic email service to receive emails as soon as they hit the market.