Tuesday, May 26, 2009

No Time to Test the Market!

Selling a home or other property in today's market takes a dose of reality and commitment.

The dose of reality comes in the form of the selling price. If the seller is not facing the reality of Fair Market Value the likelihood of a sales happening is slim to none. FMV means what a willing buyer and willing seller agree to in a free market. Until a sale has been consummated, we are talking about an estimate of FMV. Actual FMV is only determined once the sale goes through.

No on likes to see how their home has lost value from the peak. And if we don't want to sell, then we don't have to face it. If we do want (or need) to sell, then we need to face reality or face months or years of being frustrated without a sale. If we are not committed to selling at FMV, leave the property off of the market.

A qualified appraiser using relevant comparables can perhaps provide a better FMV than most agents who are motivated by obtaining a listing. Spend the $300, it will probably save you money in the long run. If you don't want to spend the money, talk to at least three qualified agents who have had success selling in the current market.

This is no time to test the market. Loosing the initial month or two with an over priced property thinking that coming down after you have lost all interested buyers is no way to sell in today's market.

Good selling!

Tuesday, May 19, 2009

A Great Time to Buy a Home!

We are very much in a "buyer's market". According to a Buyer's Market is:

•A market which has more sellers than buyers.
•Low prices result from this excess of supply over demand.
•Also called a soft market.
•Opposite of Seller’s Market.

Obviously if people had more confidence in their income and equity, homes would be selling at a fast and furious pace until demand caught up with the supply. Buyers need to consider their own comfort level and confidence in their "means".

But, if you have been sitting on the sidelines waiting for a better deal please consider that the combination of choice, price, interest rates, and seller incentives may not get much better. And if you have not owned a home for the past three years, you should be eligible for the Federal Tax Credit which will expire by year end.

Have a house to sell and don't want to jump out of the frying pan and into the fire? I don't blame you! We all need to buy a house well within our means. Seriously consider how you can rightsize into a better home and community. Small manageable homes have always been in fashion at Jensen communities. And although they may be smaller, they are big on comfort, efficiency, and as carefree as a home can get. The planned simplicity in floor plans meets the needs of those looking to rightsize their lives in a safe and friendly neighborhood setting.

It is time to get off of the fence and get looking at the great homes on the market!