Reflecting back when I was a child – a certain memory comes to mind which seems to reflect certain aspects of today’s Real Estate market. “Creature Features” – a show dedicated to presenting Horror Films in a less threatening/comical manner, had one particular segment where hundreds of frightened people were attempting to out run a menacing Monster of the evening. While my fellow siblings & I would have our nerves on edge in fearful anticipation of what was to come next…Someone would yell out…”They're ALL Running for Ovaltine!” which of course caused everyone else to break free of their fear & panic – if but for a moment & offer a chuckle or two of their own.
Today’s market is indeed moving forward and Yes – at times it seems like Buyers are all running for…”A DEAL”. We’ve seen the market activity greatly pick up – mostly in part because of the hints by the Federal Government at increasing the long repressed interest rates once again. OH MY GOSH! The fear of paying a higher rate than the Historically Low Rates being offered (for the past several years), appears to be accomplishing something that all of the other inducements have been unable to do. Get Buyers Buying. AND THEY ARE – mostly provided that they can be convinced that they are getting “A Good Deal”.
We are also witnessing previous Home Owners who had “Short Sold” their homes - now Re-entering the market place-their credit healed, & willing to get back into a home of their own…Good for them! Does this mean the Market is Healed? Are we back into the market of the past? No – don’t anticipate that happening again soon or perhaps ever…who knows…?
What can Home Sellers do to maximize their home value? Fix all of those irritating items that have been dogging you for years. No one wants your problems…Get rid of Stuff! (Enough said about this). Price your home aggressively-AT MARKET VALUE! Not at what you figure you have into it. These days EVERYONE has an opinion of your home’s value. Listen to them – YET TRUST A PROFESSIONAL – A REALTOR!
And finally for Buyers – 1ST - GET PRE-APPROVED for your loan – NO EXCUSES!! Every lender has the capability of performing such a key task to begin your search. Just like eating before grocery shopping-sit down and discuss your wants/needs/MUST HAVES thoroughly with a Realtor BEFORE setting out to find a home. This will save you time, money & produce the results you hoped for.
Many lessons were learned during these past 6 years and that is NOT EVERYONE SHOULD OWN A HOME. Find housing that meets your needs – 1st - & THEN your wants…Much Like a Pet – Don’t just Buy one to Own one. Homes require attention & constant care. If you don’t have the time, interest or resources – then consider a Townhome – a Condo or just continue to rent. You will be all the Happier!