Robert Defalco Realty Presents Home Sales 2011 Outlook

In 2011, if spending and consumer confidence continues to increase, a recovery of the housing market should be on the horizon. It will be a slow process, but with a general move in the right direction for home ownership. This will ride on the coattails of the fact that our overall economy is beginning to settle into a more stable state.

Business spending will be the gauge of where the market is moving. Businesses must invest in the growth of their companies and, in turn, will quicken job gains and, thus, interest in home ownership. The highly inflated level of home prices has been shattered and market and interest rates are at their historical low points. These factors make home buying attractive. Consumer confidence only has to rise to the occasion. Another factor is that home prices are more in line with income. In the peak of 2006, when home prices were inflated, the average house cost 3.5 times an average income level. Now, that ratio is about 2.4 times income. The historical normal level was 2.5 times so now would be the a good time to purchase.

Inflation has not been an issue in the past few years, as the 2010 Consumer Price Index increased only 1.1% from 2009. It remains to be seen if inflation will return in 2011 or 2012. There are signs that prices could start heading upward, since the Federal Reserve anounced it would flood the economy with money by purchasing $600 billion worth of Treasurey bonds next year. Interest rates rise with inflation.

People in general, have learned hard lessons: spending within their means. This doesn't equate to the fact that owning a home is an unattainable goal. It just means that purchasing a home in a comfortable price range is a more realistic goal.

Aligning these factors, normal inflation, reasonable home prices and consumer confidence, the long awaited expectation for a more normal housing market can be expected.


Article Courtesy of vvargas @ Robert Defalco Realty

HELPFUL HINTS IN SELLING YOUR HOME

Now that your home is for sale, we suggest you read these helpful hints. They will make the selling of your home a more pleasant experience for all of us.

1) Make good first impressions: The grounds should be properly maintained summer or winter. Have the lawn mowed & raked, shrubs trimmed, driveway & sidewalks swept clean & all debris removed from the property.

2) Arrange shades or drapes to give maximum amount of light to dark room: Replace all burned out light bulbs & repair faulty switches. Light colors add cheerfulness to dark rooms, especially kitchens.

3) Easy Repairs: Badly cracked plaster, loose door knobs & crooked light fixures are among the small items that can be easily repaired. Small things sometimes hinder a sale.

4) Show off Space: Display your storage and utility space by removing all unnecessary accumulations in attic, stairways, basement and garage. They will appear much larger.

5) Correct Faulty Plumbing: Leaky faucets can discolor porcelain & call attention to plumbing defects.

6) Minor Redecorating: If needed, some minor redecorating is recommended, such as painting, rug shampooing, etc. It will create a much more appealing appearance.

7) Keep down Noise Distractions: keep radios & televisions off or turned down duing the showings to eliminate any possible distractions to the prospective buyer.

8) Corral Pets: If you have pets, it is recommended they be kept out of the way or out of the house, if possible. Some people are uneasy around animals & they may detract from the prospects attention.

9) No Apologies: Apologies should never be made for any adverse appearance of your home. THis only emphasizes the defects.

10) Privacy Please: buyers like to ask a great many questions of their Realtor when being shown through a home and most prefer to do this in privacy. This inspection should proceed without your immediate presence. The buyer usually feels more relaxed. If you insist on being present, please don't discuss terms, price, etc. We will handle the details.

11) Property Availability: Always be prepared to show your property. If you delay a prospect, it may lose your sale. Your real estate salesperson will always arrange appointments with you in advance.

Finally, may we remind you, that we are dedicated full time agents who can furnish you with expert advice on any problems or questions that may arise. Call Leanne @ 917 596 2772 or Anna @ 732 371 3233 for all of your real estate questions & needs.

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