I GET ASKED THIS QUESTION ALL THE TIME!

How many times have I been asked by Mr. and Mrs. Homeowner, "Where's my tax credit? Where's my Bail-Out?"

A LOT!!

Mr. and Mrs. Homeowner do not get any incentives for selling their home...no tax credits...no bail-out...just a decline in market value on a home that they have put all their love and guts into over a number of years! What do I tell them? "You'll make it up on the Buy!" Yes, they will. But where's their incentive from the Federal Government? The Banks received a bail-out, the automotive industry had their "Cash for Clunkers", the First Time Homebuyers are receiving their no-payback Tax Credit this year....what about Mr. and Mrs. Homeowner that have paid their mortgage payments on time every month, have paid their taxes every year...even though their assessed values have not gone down relative to home values :( ...what about them??

I cannot, with a good conscience, look them in the eye and tell them that they're not getting the short end of the stick. "The housing market is cyclical," I say. "A few years ago, it was a 'Sellers Market' and Buyers were paying top dollar for homes that were selling in a day or two, and the Sellers were skipping all the way to the bank. Now it's a 'Buyers Market', and it's their turn to reap the benefits of the housing market and get into a home that, a few years ago, they could never have afforded. In another couple of years, we are looking forward to the market evening out, so to speak." Will it take that long....no one knows! Can we hope....YES WE CAN!! But you know what they say: Hope in one hand, something in the other! ;)

Am I being cynical? Do I have a right to be? Should I be? No, I guess not. From someone who makes their living on what the housing market is doing, this year has been a better year than last year due to the FTHB Tax Credit which is due to expire on December 1, 2009. Congress is working on passing a bill that will extend that credit and even raise it, which will be great for the Market in 2010. The interest rates have steadied over the past couple of months staying below 6.0% bringing us market sales that are up compared to last year for over 6 months in a row!

So is it a good time to sell? Not unless you have to, or if you're going to turn around and buy another property right away. Is it a good time to buy? YES, definitely!! There are programs out there that can help all homebuyers at this time (check with your Mortgage Professional). Prices on homes are at their lowest in 30 years or more, and interest rates have stayed low for most of this year!

So what do I tell Mr. and Mrs. Homeowner who want to sell? And how do I answer that question?
I smile, and say, "Work with ME: I'm honest and trustworthy, I'll help you negotiate the highest price possible for your home, I'll negotiate the lowest price possible on the home you want to buy (which 9 times out of 10 makes up for the loss on your Sell), I'll give you the respect you deserve, and I will work my Behind off for you!" YES I WILL!!
Chris Manisco - Re/Max Suburban in Wheaton - (630) 868-6350

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I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Wheaton, Glen Ellyn, St. Charles, Winfield, Geneva, Batavia, Naperville, Bloomingdale, Roselle, Elk Grove Village, Schaumburg, Bartlett, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, and all of DuPage, Kane, and Northwest Cook Counties, and more importantly, want to work with a local expert, contact me immediately. Disclaimer: All data and information provided on this blog is for informational purposes only. Chris Manisco makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from its display or use.

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