Kari McCoy's Real Estate Articles
THE SHIFTING MARKET- SEIZE THE DAY
If you are thinking of selling your home, now is the time to list your home with a real estate professional. If you are thinking of buying your first home or upgrading, now is the time to consider your options. The real estate marketplace is very fickle. Many factors come into play, but they all boil down to supply and demand. When buyer demand is high and the supply of real estate for sale is low, prices tend to escalate until they reach a certain point where buyers begin to just say no and listing inventories increase. When this market reversal happens, sellers who price their homes at the higher level of previous sales prices must re-think their pricing strategies. If they don't, their homes may not sell.
Since interest rates are still reasonably low, now might be the best time for you to buy a home.
Whether you are buying or selling a home, it is important to remember that the shift from a seller's to a buyer's market can occur very quickly.
If you are a first time buyer trying to save a bigger down payment in order to qualify for your first loan, you should reconsider. With the present interest rates you may already qualify with your present down payment. A lower interest rate is in many ways equivalent to a higher down payment. Either one will reduce your monthly payment or the monthly payment in relationship to your income and other financial factors is the main criteria for loan qualification. Since interest rates are still reasonably low, now might be the best time for you to buy a home.
If you are a first time buyer trying to save a bigger down payment in order to qualify for your first loan, you should reconsider.
If you are considering selling your home, right now there is fair market value and even some multiple offers. Call your local Real Estate professional and ask her to provide you with information on home sales. You should pay close attention to the list of homes with the sold and closed escrow prices and dates. Remember, in our ever changing market there is always room for growth.
Kari McCoy is a resident of El Dorado Hills, and owns the Kari McCoy Group, Residential Real Estate, at Coldwell Banker. Call her at 933 – KARI, e-mail her at sold@karimccoygroup.com or visit her website www.TheRealKariMcCoy.com
Copyright© 2010 Kari McCoy
Kari McCoy is a resident of El Dorado Hills and owns the Kari McCoy Group, Residential Real Estate, at Coldwell Banker. Call her at (916) 933-KARI (5274), e-mail her at sold@karimccoygroup.com or visit www.KariMcCoyGroup.com.