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Irena Popilevsky

Facing disappointing sale

My advise for homeowners selling their home, not satisfied with the offers they are receiving is to take a long term view. Yes, these sellers may lose on the sale, but they are likely to more then make up for it, when in turn become buyers and make a purchase at a deeply discounted price.Homes that are properly priced will sell, and that in indeed the case right here. It certainly is not gloom and doom! However, sellers must understand that finding a buyer and agreeing on a price are not the only steps to get to closing of escrow. The home must be appraised, and if the appraisal is lower than the contract price, the buyer is fully released from the contract. The seller will have wasted a month or two on a failed transaction, only to have to begin showing the home all over again.For this reason, it is more important than ever for sellers to be realistic about pricing and to seak the aid os a quality professional realtor in this regard.

Thank you for reading.

On Your Team.
Irena Popilevsky
Appleseed Realty GMAC
(917) 579-4455

www.irenapopilevsky.com

Regaining a balanced market

Right now we are working our way toward the goal of regaining that nice, balanced market, where the inventory is not too hogh for demend, and where prices are on as even keel. The market went from one extreme to the other, and now it is struggling to get back to the middle.

The great news is that our market is extremely active. Buyers of all stripes: first-time buyers, move-up buyers, and luxury buyers have jumped in. Mortgage rates are still historically low. Is it possible that we have seen the bottom??? Inventory is still high, which of course is a plus for buyers. The home affordability index is way up, meaning that more people can afford to purchase a home.
On the flip side, prices are still falling, in part because there is simply too much supply for the current demand, meaning we have excess inventory. Also unemployment is high. These factors together contribute to the likelihood of further foreclosures, or in many cases "short sales" where the home is sold for less than the amount owed to the bank. Unfortunately, these are accuring in our area right now.



On Your Team.

Irena Popilevsky
(917) 579-4455

www.irenapopilevsky.com