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Realtors are asking for a buydown on the rate to 4.5%

With a new President on January 20, 2009, just exactly what does this mean to the housing market. No one knows for sure exactly what this will mean, but, we are hearing pleas from Realtors nationwide. The National Association of Realtors and Realogy Corporation, a global provider for real estate and relocation, have both submitted a proposal to Congress for a federal buy down of the interest rates to 4.5%. “There are millions of credit-worthy people ready to jump back into the housing market, but they need to be motivated,” said Realogy President and CEO Richard A. Smith. “In our view, the incentive of substantially lower mortgage rates would directly stimulate the housing market — both in sales…

Selling your home

Selling your home could be one of the most important decisions you will make in your lifetime. And if you are like most sellers, your ultimate goal is to sell your home for the most money in the shortest possible amount of time.

If your home has been on the market and you have not received any offers you’re probably facing the question of what to do.  If your house stays on the market too long without selling it can begin to appear "stale" and can actually damage your future chances of a sale.
How long is too long?  If your home has been on the market for as much as 45 days and you have not received an offer, you need to pay special attention to these tips from a longtime professional Realtor.

•    How is your curb appeal? Is the lawn…

“The answer, my friend, is blowin in the wind. The answer is blowin in the wind” Bob Dylan. Where is the answer? While the Federal Reserve and the Treasury Department think they have the answer. Congress thinks they have the answer and Wall Street has a bailout, now the Auto Industry is looking for help. With so many plans and paths the consumer is confused and has no confidence in our economic system right now. So they sit and wait and hold on to what they have. What is the answer for the consumer?

We continue to be down in sold units but our bright spot is our rolling 12 month average sales price which is now just behind 2007 by $12,674, this represents a minus 4.7%. In units we are showing a 26.7% decline. Most agents will agree that it is a buyer’s…

In today's real estate environment, more than ever, open houses are an effective open house marketing strategy. But, just to advertise the home in the Sunday paper and post a sign is not enough. An effective marketing campaign for open houses will prove to be a very successful open house and hopefully bring buyers to the table.

My Open House Marketing Strategy

1. Stage and landscape should begin 7-10 days prior to the open house. Sellers need to understand the importance of curb appeal and presentation. Some nice fresh flowers in the kitchen, potted plants on the front porch, fresh baked cookies  are all enhancements for an open house.

2. Place strategic open house signs  5-7 days before the open house stating the day and time of the open house. I have…

    Good news this week for the Wilmington NC real estate market! Contracts are continuing to increase week after week. Our company had our 4th consecutive week with increased sales from the previous week!  This is truly a good sign for the balance of the year! For the week in review for pending sales in New Hanover County NC, the average list price was $343,674 and average days on market was 164 days. The median price was $229,950 and the maximum price was $1,599,900 with 735 days on market. For more detailed information click here Wilmington NC real estate.