As in everything we do, it is important to be at the right place at the right time. In real estate, it is especially true because sales of homes ebb and flow with the changing seasons. Since we are all creatures of habit, we tend to buy and sell as a collective group, even though we feel we are separate from each other’s buying and selling decisions. In my 28 years in the real estate business, it always amazes me how the phones will stop ringing on one day, and ring furiously on another. It is as if there is a meeting of the minds in a huge stadium where we all agree to buy and sell together at the same time!

If one agrees that this phenomenon exists, then it is best to take advantage of these buying habits if possible. We want to sell if possible when there is the greatest number of buyers available, and we want to buy when there is the greatest number of homes for sale. These periods of ups and downs are called a ‘buyer’s market’ and a ‘seller’s market’.

If you are planning to sell in 2009 as an example, I would suggest (more…)

You have put much thought into making the decision to move and now is the time. However, every article you read puts doubt and fear in your mind as to the success of obtaining a sale on your home. Most authors portray a bleak real estate market with no mercy on would be sellers. What to do!

In my thirty years in real estate, one fact is clear. Homes will sell in any market! I sold properties in the late seventies and early 80’s when interest rates topped 17%! Can you imagine presenting a potential buyer with that kind of impediment? Yet, we sold almost as many homes as the years prior. The reason is that there will always be purchasers of homes as there is more to owning a home than just the financial implications. Remember when you bought your first home? What were the reasons that lead you to signing that offer to purchase? For most, the reasons for purchasing involve providing a safe environment for the family. A home represents comfort, peace, and independence as well as a feeling of control of one’s future payments and environment.

Interest rates currently are still relatively low. However, the negative press has stirred up the feelings of uncertainty about future values as well as the fears of foreclosure. So many buyers are on hold. This means there are more homes on the market than purchasers. Supply and demand tell us that with over supply come (more…)