Home Search Season Is Here

Regardless of all the negativity in the media today, people are still buying and selling homes.  It seems shocking, because occasionally, after listening to the news, it appears as though NO homes in the NW are selling.

The good news is that the market reports provided by the Regional Multiple Listing service prove this is just not the case.  "Compared with January 2008, closed sales were up 27.6% (1,384 v.1, 085) and pending sales rose 9.9 %( 1,837 v. 1,671)."-RMLS Market Action Report.

Based on my day to day business in this active real estate market, it is apparent that buyers are very active in the market, especially since February 2008. 

From a seller standpoint, there are a few key points to consider for getting your home SOLD in this "sluggish" market.

•·         PRICING- First and foremost is this!  Buyers won't even spare a passing glance at an overpriced listing.  Especially now since short sale and foreclosure listings are at an all time high.

•·         MARKET SAVVY- Talk to a qualified real estate consultant who can demonstrate the current climate of your real estate market.

•·         CONDITION- If your house represents an example of "deferred maintenance", plan on letting it sit until you decide to spend the weekend with your paintbrush.

•·         TIMING- The spring and summer months are the best seasons to market your home.

For buyers my best recommendation is to work with someone who is knowledgeable in the marketplace.  Steer clear of "The Real Estate Hobbyist or Part-timer."

Outstanding representation in this market is vital to successfully negotiating your real estate transaction.  Here are some key points:

•·         INTERVIEW REALTORS- Look for years experience, overall knowledge of the real estate market and references.

•·         EDUCATION- Learn everything you can about the demographics, average days on market(DOM), Active, Pending and Sold listings.

•·         GET PRE-APPROVED- No seller will take your offer seriously without a lender pre-approval form.

•·         WRITE DOWN NEEDS & EXPECTATIONS- This is important in the beginning!  By giving your Realtor a clear and concise written statement of your needs & expectations, you greatly reduce the possibility of miscommunication down the road.  This will prevent anyone telling you, "You never told me that."  Keep your written statement on hand to call their bluff.

•·         SET GOALS- Establish a date in which you would like to get the keys to your new home and plan accordingly (typical close of escrow time period is 30-45 days).

•·         TAKE ACTION- The time to buy is now!

If you are a home seller or buyer, I wish you well and advice you to take advantage of the tremendous amount of opportunity in the real estate market now. 

Good Tidings!

*If you would like a free copy of a home buyer's needs and wants form, please send your request to info@SerainaAguayo.com.