DON'T BELIEVE THE HYPE!
With all this banter on the news programs about "Possible-Double-dip-this", and the talking heads preaching "Economic-Terrible-time-that", I am a bit confused. Why am I befuddled? It is because I am just as busy as ever, man!
This is the time to be buying. In the Rochester area, home prices are down a tiny bit. Combine that with the low interest rates, a qualified buyer can get more house for their money right now. The savvy consumer is acting now.
The time to act also applies to sellers. "But Mike", You may be asking,"You just said that home prices are down a tiny bit. Shouldn't I wait so I can maximize my profit?" No... get that house listed! The buyers are out there, and the inventory is dwindling because they are gobbling them up. The best way to maximize your profit is not waiting for a "better time", it is to make sure your house is in pristine condition and irresistible to the buyer. To get the most money out of your home, you need to have multiple offers competing for the same property. If the house is priced properly, in great shape, and staged to appeal, then you will get the amount you are looking for and in a pretty quick time frame.
I am including a link today to the recent report from the National Association of Realtors regarding the current state of the market based on their latest research results. NAR President Ron Phipps was quoted in the article saying, “Given the levels of inventory we see today, we believe that traditional homes in good condition have held their value.” You may read the entire article here:
In the text, you will find that the purchasing of pre-existing homes has risen during the month of January and that the inventory is down... the lowest since December 2009. You do the math! Inventory down, demand is up! With the incentive for buyers to get in on the low rates, it is a perfect storm for real estate right now!
Now is the time to act! Contact me and I can fill you in more on the status of your neighborhood! Until then, Roc and Roll!