Markets go up, markets go down. Sometimes we see it coming, sometimes we don’t. It all depends on what both consumers and businesses are buying, and when. How can we tell if and when real estate will recover?
We need to ignore short-term fluctuations, like the spike in home sales last November, when buyers thought the first-time tax credit would expire. Then sales rates dropped significantly when Congress extended the tax credit and removed that original sense of urgency.
We need to pay attention to long-term forecasts instead. Consider that homeownership increases by roughly 1 million each year. There are 4 million births, 2 million deaths, 1 million new immigrants, 2 million weddings and 1 million divorces each year. All of those events spur people to buy and/or sell a home.
Crunch the numbers, and you’ll see that we can expect roughly 60 million home sales in the next decade. Regardless of the subprime mortgage debacle, and the ensuing foreclosure crisis, real estate will remain on the rails, an unstoppable freight train barreling towards homeownership.
Just as surely as the market sees recovery, buyers and sellers still need representation in these transactions. A recent survey by the National Association of REALTORS® reveals that 80% of buyers and sellers would recommend their agent to family and friends. That’s a loud signal of the value of representation.
For information on buying or selling the home you love, stop by the office, give me a call or email me at donkingsley@kingsleyrealestate.com. My two full time Broker Associates and I encompass over 100 years of accumulated experience and we would be happy to share our knowledge with you at no cost or obligation.
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September 28th, 2011
You know what? Size does matter! You want buyers to soak up every square foot of your home, visualizing how their belongings will fit in. Follow these recommendations to maximize the space they perceive, particularly if you are selling a smaller home.
Furniture makes the most direct impact on the living space, so scale down the size of your furnishings, or even better, remove a few larger pieces and rearrange what remains. Large furnishings can make a room feel cramped, so open it up.
Avoid busy fabric patterns, which can also make a room “feel” smaller. Use texture in fabrics to add interest, and if necessary, buy slipcovers for patterned chairs or sofas that you love or can’t remove.
After furniture, the next biggest impact is your walls. Since dark colors absorb light and make even large rooms look smaller, invest in some light paint (think creams, light blues or greens, soft yellows) to open your room’s space.
Another great “trick” is to simply hang some mirrors. Mirrors do double duty in expanding the space. Seeing a reflection of the room gives the impression of more space in “another” room, while mirrors also reflect light, and a brighter room feels like a bigger room.
These are simple suggestions to implement, and a real estate professional will have even more advice for creating an appealing interior.
The real estate market is more challenging than usual. My greatest teacher and skill builder has come from personal experience. You can’t become an expert just by studying or reading a book and I have over 50 years of experience. Call me today at 363-5464 (982-1920-cell) or e-mail me at donkingsley@kingsleyrealestate.com. I’m anxious to help you!
Out of approximately 1,000,000, less than 5% of REALTORS® have CRS Designation and less than 7,000 hold the CRB Designation.
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July 20th, 2011
In spite of the real estate roller coaster of the last few years, homeownership remains the bedrock of financial and familial security. Having a long-term investment that provides the satisfaction and pride of ownership beats just about anything else you can do with your savings.
When the market exploded several years ago, the expectations of many consumers grew too high, too fast. Homes became more commodities than investments, and now markets and attitudes have been forced to realign.
Conditions today make it an opportune time to secure your future. Home prices and interest rates are still low, and tax advantages are abundant. You just have to get past all the negativity in the media. All the bad news has drained consumer confidence, and frankly, you cannot underestimate the effect of intangibles like confidence and expectation on the real estate industry.
Real estate transactions are unlike any other financial transaction. The demand and desire for homeownership doesn’t expire like other flashy investment instruments. The inherent value of a stock can be calculated by a formula of company profits, earnings ratios, performance history, fund managers, and so on.
However, a home’s value is ultimately determined by what a buyer is willing to pay for it, and the security and well-being that owning your own home provides. Honestly, there’s hardly been a better time to make your move.
The real estate market is more challenging than usual. My greatest teacher and skill builder has come from personal experience. You can’t become an expert just by studying or reading a book and I have over 50 years of experience. Call me today at 363-5464 (982-1920-cell) or e-mail me at donkingsley@kingsleyrealestate.com. I’m anxious to help you!
Out of approximately 1,000,000, less than 5% of REALTORS® have CRS Designation and less than 7,000 hold the CRB Designation.
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July 13th, 2011
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