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Market Watch April, 2009

by Pamela J. Windom, p.c.

Things are picking up! Now that word is getting out about the availability of low mortgage interest rates and the $8,000 tax credit available to first time home buyers, buyers are beginning to get back into the swing of things and are out looking for deals. The increase in sales activity caused the number of month’s worth of available sales inventory to drop from a high of 20.6 months in January to 9.7 months in March.

We are definitely feeling the effects as more and more shortsale and foreclosed properties enter the market place.  Often times these are distressed properties and when combined with the fact that banks do not like to hold real estate inventory, these properties get priced to sell and help drive down prices in the market overall.  It is going to take some time for these properties to cycle through the system, for available inventory to drop and the market to balance out.  Sellers who desire to sell are forced to compete with these “priced to sell” properties in the open market.  If you are considering selling your mantra must be …..more for the same or the same for less.  We are definitely in a buyer’s market!

The good news in all of this is that if you are a first time buyer or are looking to sell and move up, the time is now!  If you need to sell before you purchase, you may take a bit of a hit on the selling end of things, but can definitely make up for it on your purchase.  Think of it as a percentage game…..a 10% loss on a $200,000 sale is $20,0000, while a 10% gain on a $350,000 purchase is $35,000. 

If you are ready to enter the real estate market, give me a call.  I will be happy to help you sort out the details as they relate to your specific circumstances.  Every person has their own real estate story.  Let me help you put a positive spin on yours!  It’s time to create your happily ever after.  Call me….541-431-6498.

Market Watch February, 2009

by Pamela J. Windom, p.c.

Is the whole idea of purchasing a home a big puzzle to you?  2009 is all about the variables....the puzzle pieces.  Let me help you put a few of the pieces in place, so you can get a clear picture. 

 

Availability of Money:  Are you thinking it is difficult to get a loan?  Finally, the purse strings are beginning to loosen and money is beginning to flow.  I highly recommend that you make a plan and get your credit cleaned up and in order as a first step toward investing in real estate.  Payoff any small credit card debt you may have and clear it off your record.  If your credit scores are already in good shape…..Bravo! 

 

Interest Rates:  Can they get any better???? Maybe and maybe not.  If you try to time the market to get the best rate, the only way you really know when rates have hit their low, is after they begin to climb again.  Interest rates are fantastic…..RIGHT NOW!  If you are in a position to make a purchase, get the ball rolling.  Visit a lender and get pre-approved, so when you find the house you love, you are ready to lock your loan.

 

Government Tax Benefits:  Federal officials are currently working on legislation as part of the economic stimulus package to help give a bump to the real estate market and get things rolling.  Stay tuned for incentives that may be beneficial to you.

 

Market Inventory:  The inventory of homes currently for sale is high and there are some great deals available.  Getting pre-approved will put you in the best position to negotiate a great deal, when you find the home of your dreams.  Search the home inventory available on this site and get to know the market, so you will recognize a great deal when you see one.

 

Timing:  They say that timing is everything…..Interest rates are fantastic and available home inventory is high, so all you have to do is make sure you are ready to make your move when you find the perfect home. 

Call me today and I can help you put the pieces of the puzzle into place. 

 

 

         

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