According to a recent article on Forbes.com, Syracuse is in the top of the list for the country’s strongest real estate markets, in part, because we never participated in the housing boom to have the spiraling fall like Las Vegas, Miami or many others. 

Research was done to compile a list of markets that are nearest to recovery.  The strongest areas may be flat right now with prices expected to pick up late this year or early next year.  But that’s better than the areas expecting a 15% drop.  The research results did show countervailing forces at work with the bad economy and a weakening job market.  On the other hand, new housing starts are down, which should help reduce supply and at around 5% for a conforming 30-year mortgage, interest rates are lower than they’ve been in more than 35 years.

Housing markets in upstate New York never had the ups and downs of some hot markets in the rest of the country.  In Rochester, real estate values have climbed at a steady 3% rate for the last five years.  In Buffalo, Syracuse and Albany, prices are predicted to remain steady this year.

Housing prices ended the third quarter at a median $122,000, about where they have been for the last three years, according to data from the National Association of Realtors.  More of the same is predicted for 2009.

With so many markets in sunnier places crashing and burning, being dull and snowy have its advantages.

Want to know more?  Call me and I would be happy to share my knowledge with you at no cost or obligation.  If you prefer, email me at donkingsley@kingsleyrealestate.com.

It takes an innovative marketing plan to cause a home to sell, but to attract serious buyers; it must also be priced fairly and competitively.  What else must be done to successfully sell your home?

Buyers are in search of their dream home.  If priced reasonably, they will purchase the home that best reflects their idea of that dream, and it’s the sellers who are in charge of making it happen.

Experience has shown that buyers often reduce their offers by as much as $2 for every $1 in uncompleted repairs.  Sellers won’t have to face those disappointing offers if attention is given to their home before it is ever shown.  In many cases we will lend you the money for the improvements, interest free to be paid back at the time of the sale.

The best method for improving buyer appeal is a “walk-through” by the sellers’ with one of Don Kingsley’s experienced Associate Brokers.  They will play the part of a prospective buyer, and then suggests upgrades, repairs, and cosmetic improvements. We aim to get back $3.00 for each $1.00 spent.

The sellers should complete all the work before the home is placed on the market.  Neither a prospective buyer, nor another agent, should ever see the home until it is in 100% marketable condition.

When a buyer is disappointed, no explanation will suffice to keep the price up.  When selling, ask Don Kingsley Real Estate for advice, and then take action.  Buyers will often compete for a well maintained home competitively priced.

Please feel free to contact me if you are in need of real estate guidance.  I would be happy to share my knowledge with you at no cost or obligation.  If you prefer, email me at donkingsley@kingsleyrealestate.com.

Whether up or down, fast or slow, there are “tricks” you can use to make a home sell in any type of market.  Following these actions should help produce results, particularly in down or slow conditions.

First, make your home a “best buy” by having an Associate Broker from Don Kingsley Real Estate perform a thorough analysis of listings and recent sales in your neighborhood.  Position your home right in the middle of an attractive price range (buyers look in broad ranges, so be sure you are noticed).

Before your final pricing decision, determine the level of pressure you’re under to sell within a given time frame.  Must sell in six weeks?  Then adjust your price about ten percent lower than the comparables. 

Generating interest but no offers yet?  Continue reducing your price until you’ve reached your deadline, or get creative with seller financing.  If you can accept monthly payments, you’ll increase the pool of prospective buyers.

Offer your home in exceptional condition, and have detailed information available to buyers, who won’t respect vague answers to questions of utility costs, tax bills, etc.  You DON’T have to be specific, however, when asked why you’re selling.  “I have an excellent opportunity elsewhere” will suffice.

Finally, when that first offer comes, do everything possible to accept it.  Holding out for a better offer may backfire, so be prepared to say, “Yes!”

Please feel free to contact me if you are in need of real estate guidance.  I would be happy to share my knowledge with you at no cost or obligation.  If you prefer, email me at donkingsley@kingsleyrealestate.com.