Monday, March 16, 2009
Housing Opportunities for the Delhi Township, Holt, Real Estate Market - Timing is Money!
Delhi Township, Holt,real estate buyers and sellers do have opportunities in this market today. Crisis or no crisis, people still can move up or buy that first home. The large number of homes available for sale provides home buyers with a wide range of choices. Interest rates remain low. Affordability has improved in many markets. I think this is the smartest time to buy a home in my 30 years of marketing real estate.
Home inventory dropping almost 10% over the past 6 month’s is a sure sign that we may be reaching the bottom of this challenging market that we have experienced over the past 24 months.
Preparing your home for the spring market is very important to compete in today’s market. The Home Sellers Tool Kit will give you some great ideas to get you prepared for selling this year.
You may be thinking, is it a good time to sell my home and buy another? We have to remember that homes are selling when they are well prepared for sale and priced right. The reason is because people buy and sell homes for lifestyle reasons. Births, marriages, new jobs, retirement and others are all drivers. Following the advice of a full-service professional, who knows market conditions and a home’s competition, is critical in readying a home for sale.
First time home buyers receiving the tax credit which will be the lesser of either 10% of the home’s cost or $8,000 also contributes to the reason for buyers to start shopping. This will be available to qualified first time home buyers – and those who have not owned for at least 3 years - for the purchase of a principal residence in 2009. The credit does not have to be paid back if the buyer stays in the home for at least 3 years. This could have the domino effect to allow sellers to begin moving up to that larger home and selling their house, which they may have out-grown.
So, is “Now the Time To Make Your Move” I think so, however, much depends on your current situation, motives, and ability to qualify for the new, tight credit market. It may take a team of professionals to help you make some of these important decisions.
Our market could change soon, (or maybe not) as prices begin to climb back up, interest rates begin to rise, and inventory continues too go down. Is that when we will be back into a normal market? Not really. There is no such thing as a bad market or good market; there is just a market. Supply and demand is what made this the best country in the world to own real estate.
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917