Important News and Techniques for Today's Real Estate Market

THE TAX CREDIT IMPACT ON OUR MARKET: IT’S DIFFERENT

While pricing has fallen and credit restrictions have certainly not eased, there is one bright spot for home sellers in this market. The $8,000 tax credit that was formerly only available to first time home buyers has been extended to contracts accepted before April 30^th and expanded to include a tax credit of $6,500 for move-up/move-down/move-out buyers. This tax credit is driving much of the activity in our market now. I have sellers who are using it to off-set some of the hit they’re taking from the decline in their own property’s value. I have buyers who are “getting off the fence” to take advantage of it.

I have more detail on the credit here: http://www.bestgeorgiahomesearch.com/$8000TaxCredit

INTEREST RATES ARE GREAT BUT CREEPING UP & HIGH END LOANS

Rates are still great, but they're pushing upwards a little.  Overall, until now, there's never been a time when prices were low and rates were low at the same time.  That's a beautiful thing for buyers, and it's been enough to get people interested.  If you're a high end seller, there's good news for you, too, since there is definitely a bright spot in the way of JUMBO mortgages. No need to sugar coat it, it’s still tough to qualify for these loans, but AT LEAST they’re doing jumbos again, and the rates are much more in line with a conventional note.

TIMING YOUR HOME’S LISTING BACK INTO THE MARKET

Normally, I say the period after February 15^th through the end of March/ early April is good. That’s because, historically, warmer weather gives us better traffic. The market still moves fastest for closings during the period of time when school is out, however, the tax credit is currently scheduled to expire on April 30^th, so you’d like to have as much time as possible to use that as leverage.   The sooner, the better!

MARKETING EXPOSURE MUST BE MAXIMUM IN 2010

We continue the tried-and-true internet marketing blitz-- after all, over 90% of today's buyers start their search on the internet.  We also believe in the “old school” use of flyers when marketing our listings, as long as they're full color and look nice. I like to market within the agent community by having an agent open house as soon as possible. 

The bottom line with regards to marketing:  We believe in saturating every media outlet for our sellers--the virtual tour, postcards, and the internet and print ads are all staple tools that we rely on to put these properties visible to the buying public.

Good luck out there.  As always, let me know if there's anything we can do to help you take advantage of an improving market.  If you get my voice mail, PLEASE leave me a message.  I always return my calls.

Jackie Campbell, Realtor  678-416-2326