Two recently published articles provide us with an analysis of the real estate market, both locally and nationally.
The first article, published in The Kitsap Sun, provides comparative figures for Kitsap County WA between 2009 and 2010:
Lower Prices Fuel Condo Sales in 2010
The second article, published in the New York Times, offers up a more sobering perspective on the recent slump in home sales across the country:
U.S. Home Prices Slump Again, Hitting New Low
Over the course of my career as a licensed real estate broker, I've learned that every market dynamic poses its own unique opportunities and challenges.
The recent downturn offers great opportunities to both Buyers and Investors. As we approach and reach the bottom of our current cycle, home prices will have adjusted to their lowest point in many years. Coupled with the extremely low interest rates still being offered, 1st time Buyers especially can capitalize on these circumstances.
And due to the growing number of short sale and foreclosure properties, Investors can identify viable properties that can offer a much quicker rate of return.
For Sellers, my advice is to price your home aggressively, right out of the gate, and to pull out all the stops when it comes to effectively preparing your home for market. With the increased levels of inventory out there, the competition for attracting qualified Buyers has increased tremendously. Condition and price will help your home to stand head and shoulders above all the rest. In addition, ensure that your home receives the greatest degree of Internet marketing as possible. With over 95% of all Home Buyers accessing the Internet for the home searches, online exposure has become absolutely critical in achieving a successful sale.
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Rich Jacobson is a licensed real estate broker providing Knowledgeable Empowerment and Relentless Representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, Everyday CK, HomesByHarbors, and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com
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