by Liquid Blue on January 26, 2009
It’s all relative…
Sellers often grapple with establishing a listing price that reflects the current market value of their home. Having access to current sales statistics can take the emotion out of that decision, but too often leaves the seller feeling they’re holding the short end of the stick in this buyer’s market.
That can be true if the seller does not purchase a new home after the sale of their current home. That’s why it is all relative! Sellers who purchase another home in this buyers market may realize a substantial savings, that may be greater than the decrease realized on their sale. They may even be able to see a profit, despite the current market conditions. Yes! I said profit.
For example, Bob owned a split level valued at $171,000 in 2007 which he sold in December of 2008 for $150,000, realizing a $21,000 or 12% decrease in value. He then purchased a newer colonial in January 2009 for $230,000 which had been valued at $262,200 in 2007, realizing a $32,000 or 12% savings, so Bob actually came out ahead $11,000 after completing both transactions.
It is a great time to buy, particularly with the low interest rates available, and if you’re selling a home, and price it right, you too can take advantage of this buyers market!
by Liquid Blue on January 21, 2009
Despite all the negativity in the media, buyers and sellers are still loading moving trucks in the Cleveland market!
Enjoying a Cold One on Moving Day
It’s true that November 2008 sales were down 13.8% compared to November 2007. It is also true that 1493 homes sold according to Northern Ohio Regional Multiple Listing Service (NORMLS) statistics. So is it really fair to say the market is terrible when in comparison only 240 fewer homes sold? I don’t think so! Now you may be thinking I have on a pair of rose colored glasses, but I can honestly say that has nothing to do with my optimism. The simple truth is that I have been working with buyers all winter long and they are getting approved for loans, and they are buying homes!
The biggest challenge can be that the amazingly low interest rates have prompted many first time buyers to jump into the market sooner than they planned, leaving them with less than the traditional 20% down payment. I wish the media would talk more about the options available to these buyers! There are incentives to purchase HUD homes with as little as $100 down, FHA loans are available with as little as 3.5% down, VA loans are 0% down, and in some areas USDA offers 0% down.
I’m just getting started! When those first time buyers purchase their first home the sellers of that home can now move up to their 2nd home. Don’t forget that every year people get married, divorced, graduate, & are transferred. These life events usually prompt them to move, and in many cases buy homes. Just think about it… you will soon see what I’m seeing! If you’re not, then contact me. I’m here to help!
by Liquid Blue on December 9, 2008
Our new custom real estate signs are popping up all over the Greater Cleveland area, so keep your eyes open for a new concept in real estate marketing!
We can build a custom yard sign for every home we sell. Each sign we design can include inside pictures, detailed descriptions, and a website that’s built around your address. You’ll never see our agents’ faces (or pictures of our pets) on your sign.
We use the sign to advertise your property!
So if you’re interested in buying or selling a home in Cuyahoga, Medina, Summit, or Lorain County, just give your Liquid Blue Realty agent a call today!
