Changes in Real Estate Market Trends: Selling Your Home in the 2006 Market

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As the real estate market shifts around the country there has been a lot of speculation about the direction and stability of the market in various regions. Although some more populated areas are experiencing a significant slow down, the real estate markets in many smaller cities and towns have continued steady growth despite a slight adjustment.

The National Real Estate Market Perspective on Selling

According to the National Association of REALTORS? (NAR) “a lower level of home sales expected this year will create a more level playing field for buyers and sellers on the heels of a five-year sellers’ market.” NAR chief economist David Lereah states that “the cooling from overheated sales conditions in recent months is helping to bring inventory levels up to the point where buyers have more choices than they’ve seen in the last five years,” but more choices for buyers does not equal more problems for sellers. Selling your home or property is still a financially lucrative move, especially in regions that are considered more desirable.

REALTOR Magazine Online (March 13, 2006) reports that “NAR President Thomas M. Stevens from Vienna, Va., said some home buyers and sellers have unrealistic expectations.” “Some sellers in markets that have had rapid appreciation are listing the price of their home too high, but those homes are just languishing on the market,” states Stevens, “At the same time, some buyers who have believed hype about a housing bubble are hoping prices will drop, but that’s not happening either.” “Consumers need professional assistance to understand and negotiate the current market realities,” Stevens continues, “sellers should listen to their agent’s advice to competitively price and show the home…today’s market has changed a lot from the conditions we’ve seen during the last five years.”

2006 Real Estate Sales Show Growth in North Carolina

The North Carolina Association of REALTORS? web site reports that existing home sales statistics in North Carolina show yearly increases in prices despite the national market adjustments. In Asheville the average sales price for a home or property in 2004 was $222,656, in 2005 it was $253,926. The total home sales in Asheville in 2004 was $722,963,467 and in 2005 $932,414,536; a 29% increase. In January 2006 the average sale price for a home in Asheville was $282,212 compared to $234,769 in January of 2005. The total sales dollars in Asheville for January 2006 was $64,040,95, a 29% increase from $49,771,087 in January of 2005. Although the market is changing, sellers still have the opportunity to sell their homes for more than they would have a year ago. This long-term trend is a powerful indicator that the real estate market will continue to be strong in Western North Carolina.

Give Yourself the Competitive Edge:Tips for Selling Your Home

There are a few basics to selling your home or investment property. The three key factors are:

1. Make cost effective renovations, repairs and upgrades that increase the worth of your home or property. Renovations, repairs and upgrades can make all the difference when you want to make your property stand out from the rest. Upgrades in bathrooms and kitchens almost always increase the worth of a home. Landscaping the yard also increases curb appeal and makes a lasting first impression. Repairs to any basic aspect of the home should be made honestly and responsibly, this includes roofs, stairs, driveways and walkways, plumbing and heating and cooling systems. Also, don’t forget the details; new wall sockets, light fixtures or crown molding can make rooms more attractive to buyers.

2. Know how to set the best price for your home or property. Set a price for your home or property that makes sense. According to the NAR Sellers Guide “home selling is part science, part marketing, part negotiation and part art. Unlike math where 2 + 2 always equals 4, in real estate there is no certain conclusion.” Creativity and flexibility are essential, along with a knowledgeable real estate agent who can offer advice on local market trends, local sales prices and marketing strategies that work best in your area.

3. Understand the art of negotiation when reviewing offers or making counter offers to potential buyers. Once offers on your home are rolling in you must know which offers are acceptable, when and what to compromise and how to analyze each buyer individually so you choose the best person. The highest bidder is not always the best buyer; having an experienced real estate agent in your corner who knows the process of buying and selling can offer invaluable suggestions at this time.

Selling your home does not have to be stressful, it can be profitable and exciting when you work with someone you trust. To read more about buying and selling real estate visit http://www.theskysthelimitasheville.com.

About the Author

Mark G. Jackson is a long time resident of Asheville, North Carolina. He is a real estate agent and investor in the Western North Carolina region. He currently works for the John Carroll real estate office in downtown Asheville and works with buyers and sellers. Contact Mark at http://www.theskysthelimitasheville.com or at markgjackson@bellsouth.net.

Let the Real Estate Buyer Prepare: Internet Tools to Assist in Your Search for a Real Estate Agent

Let the Real Estate Buyer Prepare:
Internet Tools to Assist in Your Search for a Real Estate Agent

Let the Real Estate Buyer Prepare:
Internet Tools to Assist in Your Search for a Real Estate Agent

Real Estate transactions evoke the most sense of trepidation amongst consumers. After all, these are the transactions where the largest amounts of money exchange hands. Who is there to guide you through the process? Most of us turn to a seasoned real estate agent to help.

With an average commission of 5% coupled with the fact that you are often ‘married’ to an agent for some period, it’s essential to check their reputation before sign the nuptials. Word of mouth recommendations are one way to put your mind to ease, but failing that, the Internet, until recently, didn’t have much to offer.

The Internet featured hundreds of referral sites yet all of them lack prominent ratings provided by the actual consumers that have interacted with them. Many referral sites feature pages of sponsored ads which cloud any useful data. Others offer extensive information about a given agent, such as, the agent’s pets and number of children the agent has. While that’s nice to know, it’s useless in answering four important questions about your perspective agent:

1) Integrity: Was the agent honest and loyal to past customers’ interests?
2) Quality of the Deal: Did the agent strike a good deal for his/her past customers?
3) Recommendation: Would past customers recommend this agent to their friends?
4) Availability: Did the agent expeditiously respond to past customers’ requests?

RankYourAgent.com seeks to level the field in real estate by providing answers to these crucial questions about perspective agents. RankYourAgent.com (http://www.rankyouragent.com) collects the answers to these questions provided by web users. These statistics are made available free of charge to anyone who’d like to view a real estate agents ranking.

RankYourAgent.com derives its income from unobtrusive Google(tm) Adsense(tm) ads. A quick visit to RankYourAgent.com will allow the user to rank an agent that isn’t already ranked, or view agents by name or region.

Visit http://www.rankyouragent.com today and see if your agent is listed. At the end of your real estate transaction, don’t forget to come back and provide rankings so that others can benefit from your experiences.

ABOUT THE AUTHOR

Jobs Classifieds Real Estate Rentals Autos – Cedar Rapids Gazette

Jobs Classifieds Real Estate Rentals Autos – Cedar Rapids Gazette
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