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