Tuesday, February 12, 2008

Why I Haven't Blogged in Two Weeks...

Why haven't I blogged in two weeks? Because I'm so busy with my clients! They say the market is busting, but I am not seeing too much evidence of that in our market. This just goes to show you that the real estate market is truly a neighborhood-by-neighborhood market.

Here in Berkeley, Rockridge, and other parts of Oakland, there continues to be a consistent number of homes available for sale. And, buyers are starting to come out of the woodwork due to interest rates that are both low and sane and some great deals that are out there.

So, what does this say about the market in our neighborhoods? Here are some tips for both buyers and sellers.

*Be Patient. At the top of market, sometimes homes were barely on the market before they received multiple offers over asking price. Now, deals are happening, but buyers are being a bit more cautious. Hang on, homeseller, and price it right and make it shine.

*Price it Right. Don't compare your home sale to sales that happened in your neighborhood last year or at the top of the market. While sales are happening, we are not seeing record-breaking profits. If that is why you are selling your home, perhaps it is best to wait until the market goes nuts again.

* Make your home shine. This is always the case, but now more than ever. With a slower market, you need to make sure your home is better than the competition. Fix that fence and paint those walls! The investment will be well worth it.

*Get your Loan Pre-Approved. Talk to a mortgage broker (or call me for a referral) and get your loan set-up. The mortgage landscape is changing constantly right now, and mostly for the better. Rates are low and sensible, so now is the time.

*Don't Get Desperate. Take the time to find the home that is right for you. This might take some patience, but it will be well worth it in the long run. But be prepared! Some properties are still hot and do demand a multiple offer situation.

*Avoid Foreclosure Hype. As I've blogged before, a lot of people think they can get great deals on foreclosures right now but this is a tricky and risky business. Now what you are doing before you move on a foreclosure.

Alright, I'm hoping to get more blog entries out there again after being so busy lately. Next I am going to write about below-market rate opportunities and a great new listing I just put on the market. As, always, I'm happy to help. If you have any questions, just let me know. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

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