We all are anxious about our present as well as our future. Wouldn’t it be nice to have that crystal ball that would give us some clues as to what our economy will look like next year and beyond! Since no reliable indicator exists, we can only depend on the so called “pundits” who profess to know more than most, but their results are mixed. I am going to take a stab at my own predictions of next year’s real estate market with the risk of missing the mark a bit and having you, the reader, remind me of my well intended attempt! My picture of next year’s market is based on many conversations with banks, appraisers, home owners, buyers and sellers. I have 32 years as a full-time Realtor providing a good base for my insights into 2010’s housing environment. So here goes:

I believe that our economy is not out of the woods, but it is gaining some footing. Americans are feeling that (more…)

We love our homes! Just think back to when you purchased your very first house. Feel the emotions of excitement and the thrill of leaving an apartment for the independence of home ownership. For many, that journey may have begun 30-60 years ago. Those memories are an important component of our life histories. The houses worked for us as long as you kept up with the maintenance both inside and out. But what has changed are the owners of the home!

Over the years our surroundings become a part of us. We sometimes feel that our home and neighborhood are synonymous with who we are and how we view our place in the world. We know the neighbors, the stores, the restaurants and our places of worship, which in most cases are within a short distance of our homes. Thinking of venturing out from our homes to a new environment is daunting. The number one fear holding most of us back from a move to a new apartment or community is the (more…)

Timing is everything! Real estate is no exception, especially when moving to a senior community or apartment. In this year of uncertainty, many of my clients have asked me if they should postpone their move and wait to sell their home until the market picks up. My answer of course depends on their individual circumstances, but in most cases I’ve advised them to go ahead with the move and make sure they plan ahead to take advantage of market cycles. Traditionally the spring and fall markets are the most prolific sales periods of every year and I’m sure this year will follow the same pattern. Buyers tend to get cabin fever during the winter months, and plan to move from their apartments or houses in the months of March-June. They want to be in their new home for the summer and settled in the school system for their children. We then have a slow down in July and August, with activity increasing in September and October once the kids are back in school. The law of supply and demand tells us to sell when there are more potential buyers to attract the best possible price for our homes.

Using the timing just discussed, you would want to plan your move in date to time the real estate market. If you are intending to sell in spring, May-June would be an excellent time to have occupancy in your new home. Then you could put your home on the market in the busier months and know that you can move to your new community within the buyer’s time frame. Most buyers want to close the transaction within 30-45 days from the accepted offer date. We as Realtors can work out an overlap occupancy where you can stay in your home up to 60 days after closing, and pay a daily occupancy charge (usually 1/30th of the buyer’s monthly payment). If you are timing the move for fall, you could have a move in date of October or November so you could sell in the busier months of September and October.

It is important to know that we don’t have a crystal ball as to what real estate prices will do. They are currently moving slightly lower and we do not know when this trend will end. Therefore, waiting may only lesson the amount of equity you will have in your home. You also don’t want to risk waiting for a health change to determine your move because you will then be at the mercy of a quick and chaotic move with your children involved in worst case scenario. You can also take advantage of the lower stock prices and use your equity to leverage your stock positions with the funds your receive from your home sale. Another positive factor currently is the lowered cost of funds relating to lower mortgage rates. This will probably be a boost to this year’s real estate sales activity.

There is a saying, “you will never leave where you are until you decide where you want to be!” This is true for many aspects of your life. So if you know it’s time to make that move, have faith that all will work out and go with your instincts rather than fear and procrastination. You will be happy you made the move and probably ask yourself why you didn’t make the move sooner!

My public speaking engagements have presented many audiences of varying backgrounds and ages. The one subject that is on my mind when I speak to these groups is that of procrastination, avoidance, and in the end, falling into a crisis mode. We plan our lives in so many areas so that we avoid pitfalls and stress, but for some reason, when it comes to one of the most important aspects of our lives, where we live, we wait for signs to tell us where to go with our next step. Unfortunately, that sign can be an immediate health change or financial burden.

Who are the victims of this lack of planning? In many cases, the entire (more…)

Some of the most important decisions we will ever make in our lives come at a time when we are least prepared to make them…or do they? Think about it. For many of you in your 20’s and early 30’s you may have decided on a life long partner, a career, bought your first home, decided to have your first child, buy your first car, or went into the military. All of those huge life altering decisions made when you had little data to go on. Many of life’s lessons hadn’t happened, and your savings (if any) were minimal. Some of you sought help from your parents, but for the most part, you just “winged” it! You had no guarantees of any of the above actions ever working out. You went with logic, but mostly your “gut”!

Can you imagine having to make this many crucial decisions today? As we age, our thinking process can become more intense and (more…)