Real Estate Decisions? Should You Sell or Buy?

Recent real estate news for the last business months stated real estate sales are not so great. And lately, the news has been in the business of painting a much less brighter picture. It is almost as though the press is determined to bring more trouble onto the already difficult task of building up America and helping the economy get back to a place where it should be. Today, though I actually saw a new program which will help business. One group of newscasters noticed American products were not being featured in a manner to advertise American products. Rather, they have been largely ignored to advertise products from overseas. We all know jobs in the United States have gone overseas as manufacturers complain they can get cheap labor and keep costs low. The news showed American made are just as cost effective.

Actually, besides the economic picture -the weather could have been the reason sales suffered a slow down - and, as yet, the weather is still a factor to consider. In Middle Tennessee when someone complains about changes in the weather, the residents are fond of laughing and responding, "Yes, and if you stay around long enough it will change again."

The real data reveals great sales taking place in certain markets, new housing sales as lower than last year this time, and lots of folks looking for refinancing or possibly selling or buying if able to get a better interest rate. Lenders are much more careful about lending, buyers are much more cautious about buying, and sellers need to make every effort to present their home in the best light as possible. It is still a buyers market. Oh, and the market is being very picky about which properties will sell and which ones will just sit there.

Buying for investment has taken on a whole new look as investors sit back and wait on the market to present them with the best price on packaged mortgage properties.

If you are hoping to sell or buy a home or investment property this spring, summer, or fall, then be sure to take extra care to research the market. A new coat of paint and a sky light used to go a long way. But today's buyers are looking for good, solid properties with few, if any, problems, a lot of architectural imagination, and an excellent buy for their money. Property is selling but in a much different way than when money was cheap.

BUYING?

1. Get your Letter of Intent and Proof of Funds Letter to present to your Realtor before you go property hunting.

2. Know what you want and don't settle for less or you will be getting what someone else does not want.

SELLERS?

1. Get your property in tip-top condition. Disclose any and all problems or fix them and offer a warranty or reduce your price drastically!

2. Be an informed seller. You agent is your representative not you, a buyer, or a seller. Realtors serve your interests, not their own.