Over the weekend I scheduled an appointment with a young couple who plan to list their house early next spring. This was a starter home and although they've made many improvements they're eager to "move up" and find a house with a little more space and an open floor plan. In effect, the meeting was to advise them of things they could do to help make the house more marketable.
It's difficult to anticipate what the state of our economy will be next spring and even more difficult to predict the number of buyers who will be looking in a particular price range. It would be nice if the Federal government extends the $8,000 tax credit for first-time home buyers beyond November 30th. The good news is New York State recently passed the Mortgage Credit Certificate Program for first-time home buyers; a new tax credit expected to save mortgage holders more than $30,0000 over the life of their loans. Government incentive certainly helps stimulate the market but will government continue to offer incentive for first-time home buyers? We realtors don't know. But one thing I do know is this: despite not having a crystal ball when it comes to legislation, bank lending and mortage rates, having the luxury to plan ahead certainly gives my sellers an advantage. My clients have more than six months to prep their house before a "For Sale" sign is placed on their front lawn. Between now and then they can address any large issues with the house, make repairs, paint, update, purge items, etc., and not feel rushed or stressed.
A good real estate agent wants every home to be priced right, be in the very best condition and to "show well" when it's put on the market. The idea is to blow away the competition--we want our listing to look better than any other listing in that price range. Now don't get me wrong, this doesn't always go so smoothly. Homeowners aren't always as open to our critical eye as you might think. Nonetheless, most understand our point and are willing to make concessions. When spring comes, I look forward to meeting with my clients again. I can't wait to see the changes they make between now and then. I look forward to putting my RealtyUSA sign on their front lawn; but most importantly, I look forward to seeing the word "SOLD"!
(If you're interested in reading more about the first-time home buyer incentives I refer to in this blog, please scroll down & click on the link to my website. The document is called 2009 Incentives)
