“How’s the market?” is a question that I’m asked just about everyday.  It seems everyone wants to know what’s going on in real estate.  Homeowners are curious about how their home’s values are holding up; renters are looking for the right time to make a purchase.  There’s no easy answer.  The media is chockfull of headlines announcing how the market is doing; some say its up while others say its down.  They’re both right.  How can that be?  It all depends on what time periods you’re comparing and what areas or segments you’re looking at. Some facts: Seventy single-family homes were sold in …

The old mantra buy low and sell high doesn’t apply to real estate if you’ve bought in the last few years.  However, for anyone thinking of moving “up” to a more expensive home I would suggest they consider a new paradigm, Sell Low and Buy Low. When it comes to real estate there is no shortage of experts telling us the sky is falling. On the flip side, real estate professionals and the National Association of Realtors (NAR) seem to always be pushing a positive message regardless of the state of the market.  So who are you to believe and what’s really happening in our backyard?  Real estate, …

Most locals know that real estate prices have corrected significantly from their artificially high peak.  As a result, the real estate landscape has changed—here's how those changes may impact buyers and sellers. Underwater  You may have heard that many homes today are “underwater”—but that isn’t a reference to flooded basements.  It means that the house is worth less than what is owed to the bank. Some homes have a second mortgage or a home equity loan in which case more than one bank may be owed on the property.  A seller in this situation could pay out of pocket the difference between what…

Thinking about selling?  Maybe you can save on the commission and do it yourself.  Your house isn’t worth what it used to be, times are tough and it’s a big expense.  If you could do without you would pocket thousands of dollars more on the sale of your home, right? In order to help understand how this works let’s assume that you’re trying to sell a house worth approximately $500,000 and that you would expect to pay a 5 percent commission.  The commission on the sale of the home would be $25,000—clearly a lot of money.  Follow the money Although you sign a contract (listing agreement) with …

Simply put, de-cluttering is the least expensive and highest return item you can address.  When prospective buyers tour your home they will be imagining themselves living there.  If they see a cluttered space with little or no storage they will assume the house is too small for their needs—if you can, pare things down to a minimum before you start showing your home. Consider this the start of your packing process. Knick-knacks and ornaments should be sparse. Yes, little Johnny may be the next Picasso, but save the artwork in a folder. Off-season items that won’t be needed till next year…pack …

Are you thinking of or trying to sell your home? Wondering what steps you should take to prepare your home for sale? Homeowners today, especially those who’ve struggled trying to sell, often wonder if renovations would speed up the process of finding a buyer or net them more on their sale. It’s true that buyers today have more homes to choose from and they prefer renovated homes that are in move-in condition. Fixing items in disrepair and de-cluttering the inside and outside of the home should be at the top of every seller “Must-Do” list. Should you update kitchen and bath? A house that is …