| For months now, the doomsayers have been | | | | actually paid for it and for what price they can sell |
| forecasting a burst in the real estate bubble. The | | | | it. They cannot look at the "paper" equity that |
| burst has yet to happen. According to data | | | | was created by the bubble you cannot lose |
| released during the first week of October, the | | | | money that was never real! The only money lost |
| median existing homes for sale price fell in August | | | | is in "theory," based on what an earlier, unrealistic |
| by 1.7 percent, a first in over ten years of | | | | market said for what you could sell your |
| year-to-year pricing. The number of homes for | | | | property. The only "real" money that would be |
| sale has jumped to 3.9 million, which is the highest | | | | lost would be if you had to sell a home for less |
| inventory level since 1993. | | | | than you paid, and the homes for sale market is |
| The bubble for homes for sale still exists; | | | | not at that point and hopefully never will be. |
| however, because jobs, income and interest rates | | | | The second most important selling technique for |
| are still in great shape. This means that forecasts | | | | homes for sale is to market it correctly and |
| are still excellent for this year, which is expected | | | | make it stand out amongst all the other homes |
| to be the third best year in history for home | | | | for sale. Preparation before putting your home on |
| sales. | | | | the market will make a difference. Have it |
| That does not mean that sales figures are as | | | | inspected beforehand and repair, renovate and |
| good as last year at this time, when the bubble | | | | replace any defective items in the interior and |
| made homes for sale pricing unrealistically high. | | | | exterior of the home, as well as landscaping |
| With prices coming down and homes for sale | | | | problems. Stage your home for showing fresh |
| inventories rising, the real estate market is | | | | paint, fewer furniture pieces attractively |
| moving toward a buyer's market but we still are | | | | positioned to make rooms appear larger (put your |
| a long way from there at this time. | | | | extra pieces in storage), adding small decorative |
| The current homes for sale market means that | | | | accents of color to pull the viewer's eye to unique |
| buyers can take longer to make buying decisions, | | | | features within the rooms, and so on. Some |
| which keeps many homes for sale on the market | | | | realtors can assist owners of homes for sale with |
| longer. There is more competition for owners of | | | | "buy-down" mortgage products to add more |
| homes for sale, requiring different selling | | | | buying appeal to the property without having to |
| techniques. | | | | lower the sale price. |
| The most important thing is to accurately price | | | | In this current market, the owners of homes for |
| homes for sale. Too high, and they will remain on | | | | sale with the edge are those who take the extra |
| the market too long. Sellers must be realistic. | | | | time and effort before putting their homes on the |
| Homes for sale owners must begin to look at the | | | | market, along with a realistic selling price. |
| "real" price of their home, based on what they | | | | |