The latest housing news is grim at best. With the downward trend of home prices, lenders tightening their grip and the the stock market going haywire, it's remarkable to some that there are any home sales at all. However, it has been stated again and again that at a time like this one of the more sound investments is still real estate. In the Bay area median prices for homes and condos dropped more than twelve percent in September compared to the year before. On the other side of things, the amount of homes that sold in San Francisco remained stable and saw an increase of nearly fifty percent, due to foreclosures. Marin real estate prices have remained steady in some areas, however median prices have dropped more than fifteen percent in the last year.
Some experts believe that presidential elect Barack Obama may be just what the housing market needs in order to see
some improvement. Although they are not too optimistic about his immediate impact, they are confident that Obama will
be much more aggressive when it comes to finding ways to stabilize the housing market. These are thought to include
more tempting tax credits and loosening lending standards including lowering required down payments.
With the housing market the way it is, some realtors are even turning down listings because they just aren't moving unless they are priced realistically. Some sellers are
not willing to wait any longer and must list their homes. For those in that position you should know that homes are still selling, but
sellers must be realistic when pricing their home. If you are needing to sell your home now, you
will probably not get what you would have a couple of years ago. In addition to pricing your home correctly, it is once again
very important to market your listing.
Although some sellers are frustrated by having to lower their expectations, some are finding out how to take
advantage of the current state of the market. While some are selling their homes for less than they would have
a couple of years ago, on the other hand, they are getting a great deal on a new and upgraded home.
If you decide it's time for you to sell your home, the key is still marketing and making sure your home stands out
from the rest of the homes on the market. Make sure your home is staged by a professional and it might not hurt to
have it cleaned by a professional either. Also don't forget to read more articles on
open house ideas.
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