Rising Prices Driving Home Sales

With the gradual rise of home prices this year, Corelogic has reported that over 700,000 homeowners came out from being underwater on their mortgages during the first quarter of 2012.  With this information and other encouraging reports from across the country, it seems that we are  definitely moving in the right direction.

 

There are still many homeowners, though, who owe more than their property could sell for today.   That situation will probably continue to improve gradually but will take some time.  The percentage of foreclosed properties has dropped and short sales are definitey easier and faster to obtain this year.

 

I think it is important to take the time to recognize that things are getting better in the real estate market.  It seems that the majority of information that most of us receive is negative and that valid and good reports are often ignored. It is amazing that even when I speak to other professionals in the real estate world, many continue to shake their head and then proceed with a "yes but" and begin to quote what they have been hearing in the media.

 

The truth is that It has become rare these days to hear anything positive about what is going on in our world.   Unfortunately, we frequently do not get an accurate report or full picture of what is really going on in the real estate market through the media.

 

Let's take a moment to celebrate some good news for what it is worth.   It can't hurt anything, can it?    If you would like to receive accurate real estate information on a regular basis instead of relying on the "news", please let me know or check in weekly at www.NancyPuder.com/blog.  I always enjoy hearing from you!

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

 

 

 

 

Real Estate Market Improving on Central Coast!

 The good news is that we are  seeing significant mprovement in our real estate market on  the Central Coast of CA.  Sales are up, mortgage rates are low (and may go even lower), inventory is short and prices appear to be rising in certain "hot spots" due to buyer demand.

 

Although we should recognize that things are definitely better,  I predict that it will still be awhile before we see home values increase by any leaps or bounds.  I believe that home prices will continue to rise slowly but steadily over the next few years. 

 

Today's seller should review all of their options before making a decision to sell.  If you want to sell so that you can buy another home, keep in mind that the home you buy has also been deeply discounted.  When prices go up, so will the home that you are purchasing.  If the home you are purchasing costs more than the one you are selling, you will probably come out ahead in the end.

 

Another option to consider is a remodel.   Think about what you would want if you did purchase another home. If your present home could be expanded or remodeled to satisfy your family's needs, you may want to consider staying where you are for now.

 

If you need to sell and owe more on your mortgage than your home is worth, a short sale is definitely the way to go in most cases.  Short sales have become much easier over the past 2 years but be sure that you use an agent who has done a lot of these and can help to minimize the work necessary on your end!

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate Sales and Management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415  Your calls are always welcome!

 

 

 

 

 

 

 

 

 

Advantages to Buying New Home

No matter what the economic climate, buying a new home always has advantages.  Here are some reasons to consider buying  a new home.

**Ease of Maintenance

Because of vast improvements in efficiency and durability of building materials, new homes don't require as much upkeep as older homes.

**Customization

There is no substitute for living in a home that mirrors your preferences in color, fixtures, floor coverings, appliances and finishing touches.

**Floor Plan

Today's homes emphasize flexible space and flexible usage, which let the homeowners tailor the living area to their evolving needs.

**The Green Factor

The materials used in today's home are far more effective at reducing energy costs than those found in resale homes.

**Technology

It is much easier to add modern conveniences to a new home such as wiring, security systems, surround sound, wireless internet and additional outlets.

**Safety

A new home is subject to the current building codes that require more stringent safety requirements regarding materials and internal systems.

**Warranties & Customer Service

New homes will often come with a complete warranty that covers everything on the house, inside and out sometimes up to 10 years.  Warranties are available on resale homes but are typically for one year only

 

Nancy Puder is the broker and owner of SignatureProperties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!