2007 Real Estate Market

The housing market is transitioning into a more normal market in contrast with unsustainable activity last year, according to the National Association of Realtors® (NAR). David Lereah, NAR's chief economist, said market fundamentals are improving. He said the demographics of our growing population, historically low and declining mortgage interest rates, and healthy job creation mean the wherewithal is there to buy homes in most of the country, but many homebuyers have recently remained on the sidelines. However, after a period of price adjustment, we'll see more confidence in the market and home sales should increase in the first quarter of 2007.

If this forecast drives you to sell your home, you need to make sure you effectively market it to potential buyers. Here are some things to consider:

Inspect.Before signing any final paperwork, a homebuyer will want to conduct a home inspection. Therefore, it's strongly recommended that you have your home professionally inspected before it goes on the market. Having this process completed ahead of time will help you in the long run. The advantages include: allowing a third party's critique of your property, assistance in pricing your home in line with your neighborhood's fair market value and getting the opportunity to make needed repairs.

Create Curb Appeal. Curb appeal is a common term used to describe one's first impression of a home's exterior. You'll want to make sure that impression is a good one. Always keep your lawn trimmed and maintained and the rest of your landscaping tidy. If your home itself appears a little listless, it may be a good idea to re-paint or power-wash.

Clean Your Clutter. Ask any real estate agent, and they'll tell you that removing clutter from the inside of your home is crucial to the selling process. The kitchen is the best place to start.

Clutter-free counters will help show off your kitchen's workspace and cleanliness. Cabinets should also be cleaned and organized.

Questions or comments write or email:
eugene.dougherty@realliving.com
www.realtyone.com/eugene.dougherty
YOUR Personal Guide to Real Estate