2009 is proving to be a good year for Greenville real estate home buyers. Lower prices, near record low interest rates, high inventories and an $8000 tax credit are all working in the favor of home buyers. Those home buyers making good long term financial decisions will reap the benefits of the currently soft market for years to come. Here are 5 Greenville real estate home buying tips for the remainder of 2009.
1. Think long-term
We may see soft prices for in the short-term, but real estate like other markets, is cyclical. Over the long haul, the market will bounce back and prices will rise.
2. Think local
Real estate is local. Ignore national headlines and listen to your local real estate expert. The real estate market in Columbus OH is not the same as the real estate market in Greenville NC. Work with an experienced Realtor who has been around for awhile and sells real estate full-time.
3. Think deal
Look for deals...foreclosures, short sales and motivated sellers. But be realistic, you are not going to be able to buy for 40-50 cents on the dollar. Your real estate expert and advise you as to what to expect in Greenville.
4. Re-think risk
Don't buy a foreclosure for the price alone. Many foreclosed properties are in deplorable condition. Get a home inspection and know exactly what you are getting into before you buy.
5. Think budget
Take a close look at your finances and determine how much house payment you can realistically afford. Don't over buy. It is no fun to be house poor.
Learn more about Greenville real estate home buying at LizFreeman.com or LizFreemanHomes.com.
If you are thinking of selling your Greenville home this spring, now is the time to start getting ready to sell. Below are 5 things to do before putting the ‘For Sale' sign in the yard:
1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
Learn more about selling your Greenville home at LizFreeman.com.
What is my Greenville home worth?
www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.
Not so long ago helping the environment meant recycling plastic and newspapers, but today it has evolved into "green" thinking and extends to our homes and our living environments.
According to a recent NAR survey, nine out of 10 Realtors® said their clients are interested in energy efficient features of green homes and the potential cost savings of such features. An overwhelming 90 percent agreed there will be even more interest in green building practices a year from now.
Results of a Harris Interactive poll by Move, Inc. show potential home buyers consider "green" building features more important than luxury amenities. Almost half of the adults surveyed (49 percent) said features such as solar panels or energy-saving appliances were "important," compared to just 31 percent who rated luxury amenities important.
Ninety-three percent of all home buyers are not willing to pay more for green or energy efficient features when building a home, according to a recent independent study commissioned by The New York Times Customer Insight Group.
However, a recent survey from Green Builder Media reports U.S. home buyers are willing to pay a premium for more environmentally friendly, green-built homes.
More than half of home builders surveyed (250 residential builders across the U.S.) said that buyers are willing to pay a premium of between 11-25 percent for green-built homes. The same builders report that the average green home buyer is between the ages of 35-50 with a college degree and fair understanding of green products.
Despite the conflicting statistics, the U.S. Green Building Council believes thinking "green" is an industry trend, rather than a passing fad; not only does it save on energy costs, it is better for our overall health and the environment as a whole.
Are you a Greenville NC home buyer looking for a green home? Visit LizFreeman.com to learn more.
These can be difficult times for some Greenville homeowners. Current economic conditions are placing a great deal of pressure on family finances. There may be better options for you than bankruptcy or foreclosure. These options may enable you and your family to get back on your feet much quicker and with much less stress and heartache.
It is our belief that individuals and families come first! We have received specialized training to provide you with information and options you must have to make an informed decision. We have a compassionate team of professionals to aid you.
Our goal is to help families and individuals one home at a time. This is our responsibility, our duty and our commitment to our community.
Click here to download your free report regarding Foreclosures and Short Sales
It was hard to keep track of the numbers floating around Washington last week, but an $8,000 tax credit for first-time Greenville NC homebuyers will be signed into law tomorrow by President Obama.
It is not the $15,000 credit that was proposed by the House of Representatives, but it is a definite improvement over the $7,500 low interest loan that was in last fall's legislation. Who qualifies:
First-time Greenville NC homebuyers who purchase this calendar year get an $8,000 tax credit which does not have to be repaid like a similar measure last year. This phases out for people making more than $75,000 individually or $150,000 jointly. "First-time homebuyer" is defined as someone who has not owned a home for the past three years.
The purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
This legislation does not help the first-time Greenville NC homebuyer who doesn't have the cash for a down payment as you have to have closed the deal to qualify. It is more of an $8,000 discount on the price of the home and can give home buyers a cushion for unexpected costs during the first years of homeownership.
Are you a first-time Greenville NC homebuyer? Give me a call! I am glad to discuss how this new law effects you personally.
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Liz, owner of The Liz Freeman Team, specializes in residential real estate in the Greenville area.
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