Enter the complicated world of real estates


The Bubble Has Yet to Burst on Existing Homes for Sale

For months now, the doomsayers have beenfor what price they can sell it. They
forecasting a burst in the real estatecannot look at the "paper" equity that
bubble. The burst has yet to happen.was created by the bubble you cannot
According to data released during thelose money that was never real! The
first week of October, the medianonly money lost is in "theory," based on
existing homes for sale price fell inwhat an earlier, unrealistic market said
August by 1.7 percent, a first in overfor what you could sell your property.
ten years of year-to-year pricing. TheThe only "real" money that would be lost
number of homes for sale has jumped towould be if you had to sell a home for
3.9 million, which is the highestless than you paid, and the homes for
inventory level since 1993.sale market is not at that point and
The bubble for homes for sale stillhopefully never will be.
exists; however, because jobs, incomeThe second most important selling
and interest rates are still in greattechnique for homes for sale is to
shape. This means that forecasts aremarket it correctly and make it stand
still excellent for this year, which isout amongst all the other homes for
expected to be the third best year insale. Preparation before putting your
history for home sales.home on the market will make a
That does not mean that sales figuresdifference. Have it inspected beforehand
are as good as last year at this time,and repair, renovate and replace any
when the bubble made homes for saledefective items in the interior and
pricing unrealistically high. Withexterior of the home, as well as
prices coming down and homes for salelandscaping problems. Stage your home
inventories rising, the real estatefor showing fresh paint, fewer
market is moving toward a buyer's marketfurniture pieces attractively positioned
but we still are a long way from thereto make rooms appear larger (put your
at this time.extra pieces in storage), adding small
The current homes for sale market meansdecorative accents of color to pull the
that buyers can take longer to makeviewer's eye to unique features within
buying decisions, which keeps many homesthe rooms, and so on. Some realtors can
for sale on the market longer. There isassist owners of homes for sale with
more competition for owners of homes for"buy-down" mortgage products to add more
sale, requiring different sellingbuying appeal to the property without
techniques.having to lower the sale price.
The most important thing is toIn this current market, the owners of
accurately price homes for sale. Toohomes for sale with the edge are those
high, and they will remain on the marketwho take the extra time and effort
too long. Sellers must be realistic.before putting their homes on the
Homes for sale owners must begin to lookmarket, along with a realistic selling
at the "real" price of their home, basedprice.
on what they actually paid for it and



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