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New Year's Resolutions
for Home Buyers and Sellers
January, 2009 - Issue #51
Whether you are considering buying or selling a home, 2009's unique housing market means that both parties have some resolutions to fulfill. Here are the top five.

Buyers
This is the time to buy your new home. Home prices are incredibly low. Real estate is one of the best vehicles to create long-term wealth. It is okay to purchase a home with prices as low as they are and with interest rates still at historical lows. As the great Warren Buffett says, "Be fearful when others are greedy, and be greedy when others are fearful."

Don't procrastinate. Remember that the winter holiday season typically means more motivated sellers and less buyers to compete with in the market. Simply put, if you want the most choices with the least amount of pressure, now is the best time to start your home shopping.

Recognize the financial incentive. Tax write-offs and the investment potential - plus owning a great place to live - are real reasons to make the move now.

Sellers
Complete much-needed tasks around the house to get it ready to show. Remember that each of these fix-ups could put more money in your pocket.

Resolve to keep your home positioned as the number-one best-priced home and number-one best-condition home in its class. Don't make the common mistake of delaying necessary repairs or staging your home. Do it now and follow your agent's guidance on price in order to avoid chasing the market down.

SCV Real Estate Update
Current average sale price: $439,400
The average sales price is down approximately 22 percent from the same time last year.

Current average days on market: 69
Homes that have sold this year have been on the market 1 day less on average, or are selling 2.5 percent faster this year compared to last year.

Total closed sales, year to date: 2,881
There have been 147 more sales this year, or 5 percent more sales this year than last.

Note: Since last month's update, the average sales price in the SCV has gone down by $4,679. Sales are up, but prices are down.

Joshua "Dr." Suess is owner of The Focused On Your Family Team with Re/Max of Valencia 702-4640 www.nohasslenorisk.com.
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