It's all in the Perspective!

In the recent two years how often have you been asked, "So, how's the market?"  Depending upon who's doing the asking and who's doing the answering is going to determine the wide range of answers one will hear.  It's all in the perspective!

From a seller's perspective, I don't think I would say anything positive about the current real estate market, unless I had some of the following information:

•·        The NUMBER of sales thus far in 2011, as compared to the first quarter of 2010, is slightly ahead of last year at this time.  That's better than you may think, because at this time last year the Federal Government was offering first time homebuyers a FAT tax incentive of $8000 to purchase a home.  Therefore, we saw artificially inflated purchase numbers.  Bottom line - the number of sales is significantly higher than it was a year ago!

•·        Foreclosure sales are down from first quarter 2010, yet up from fourth quarter.   We believe that banks are growing more willing to negotiate short sales, rather than allowing homes to go into foreclosure.  This, too, is good news for sellers.

•·        Another piece of news is that the median sales price has fallen, going from $157,000 first quarter 2010 to $135,000 first quarter of 2011.  The biggest culprit in the falling median price, in my opinion, is that 46.2% of the sales were sales of distressed property. How is that GOOD NEWS?  The good news is that if homes are priced right from the start, they are selling much quicker.  This is not the market to hold out for the highest price.  It is a market where price sells!

 From the buyer's perspective, "THE MARKET IS GREAT - BETTER THAN IT HAS BEEN IN DECADES!"        

•·        Prices are low, which makes monthly payments low.        

•·        Distressed property is selling, allowing buyers to purchase homes at below market values.  This means that buyers can create their DREAM HOME by connecting to a lender who offers the FHA Streamline Rehab Loan.  This loan is super easy.  Ask me how to make it happen for your buyers!

•·        DOWN PAYMENT ASSISTANCE IS STILL ALIVE AND WELL IN GEORGIA!  If cash for down payment is a hurdle, several programs exist to help first time homebuyers in 2011.  BETTER THAN THE 2010 TAX CREDIT, these programs actually give money to the buyers! These funds can be used for down payment, payment  of closing costs, and / or payment of pre-paid items.  Again, ask me how to make it happen! 

  As an FHA rehab loan specialist, as well as a down payment assistance specialist, I am getting more buyers into more homes with more perks to them.  Let's continue to soar past 2010 numbers.  It just takes a little out of the box thinking and a small shift in thinking and marketing.

 It IS all in the perspective, but I can wrap the current market up in a couple of quick info bytes:

•·        This is a price driven market - NOT a marketing driven market. 

•·        Sell monthly payment!

•·        EVERYONE WINS!

 Contact Randi today to learn how she can help both buyers and sellers in this crazy economy! 

404-338-0717  OR rkrasnoff@americahomekey.com