Must we endure yet another year of housing crisis? What choice do we have? No amount of optimistic projections and statistical manipulation can remedy this protracted housing pain. Historically speaking, five to seven years has been a standard interval for house prices to stabilize following serious corrections. By that measure, the worst should be behind us.
There is some good news: Mortgage rates remain at their lowest point in nearly 60 years, and prices are settling in several markets. Real estate is becoming more affordable and needs-based instead of speculator-driven, making a home primarily a shelter once more.
Meanwhile, some see another year of value declines in 2011, perhaps up to 7 percent. Several more waves of adjustable-rate mortgages are set to ratchet upward for homeowners in 2011. "Strategic defaulters" are surrendering their upside-down loans as a financial strategy, not because of extenuating circumstances. And unemployment remains stubbornly high.
Yet, people still move up and still move down -- buying and selling homes to meet those ends. For them, here they are
Sellers: Feel what the buyer feels
Put your ego aside, sellers. Your for-sale home is no longer about you -- it's about the buyer. So be empathic. What would you expect to see on a tour of a for-sale home? Even though you're essentially marketing brick, mortar and land, the emotional response you elicit in a buyer is often what seals a deal. Neutral colors allow buyers to picture themselves in your house. To appeal to their olfactory pleasure senses, employ the age-old tactic of baking fresh cookies before potential buyers arrive -- then leave them for your visitors to enjoy. Or at least light a candle or two. To convey an inviting atmosphere, de-clutter the place with renewed vengeance, stow away your inexpensive or tattered furniture and box up cherished mementos. Remember that the illusion of space is almost as important as the space itself.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Must we endure yet another year of housing crisis? What choice do we have? No amount of optimistic projections and statistical manipulation can remedy this protracted housing pain. Historically speaking, five to seven years has been a standard interval for house prices to stabilize following serious corrections. By that measure, the worst should be behind us.
There is some good news: Mortgage rates remain at their lowest point in nearly 60 years, and prices are settling in several markets. Real estate is becoming more affordable and needs-based instead of speculator-driven, making a home primarily a shelter once more.
Meanwhile, some see another year of value declines in 2011, perhaps up to 7 percent. Several more waves of adjustable-rate mortgages are set to ratchet upward for homeowners in 2011. "Strategic defaulters" are surrendering their upside-down loans as a financial strategy, not because of extenuating circumstances. And unemployment remains stubbornly high.
Yet, people still move up and still move down -- buying and selling homes to meet those ends. For them, here they are
Sellers: Feel what the buyer feels
Put your ego aside, sellers. Your for-sale home is no longer about you -- it's about the buyer. So be empathic. What would you expect to see on a tour of a for-sale home? Even though you're essentially marketing brick, mortar and land, the emotional response you elicit in a buyer is often what seals a deal. Neutral colors allow buyers to picture themselves in your house. To appeal to their olfactory pleasure senses, employ the age-old tactic of baking fresh cookies before potential buyers arrive -- then leave them for your visitors to enjoy. Or at least light a candle or two. To convey an inviting atmosphere, de-clutter the place with renewed vengeance, stow away your inexpensive or tattered furniture and box up cherished mementos. Remember that the illusion of space is almost as important as the space itself.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125