Taunton Massachusetts Area- Real Estate - and- Homes for Sale: Market Changes 2009

Changes in the Market, 2009

Yeah, there have been changes! Some good, some not so good...

                                                                        For Buyers                                            For Sellers

Homes Priced <200k	Sellers Rule the Day... Buyers are even using acceleration clauses again. CASH buyers prevail, so new loan buyers are at a distinct disadvantage. Have everything in order when you start - loan applied for, timeline in place.	If you are a seller, it is nearly impossible to NOT sell your home... Still, make it look nice, and yes, you must price it where it will appraise. Sorry - no way around that!
Homes Priced >500k	Buyers Rule the  Day Tight credit, excess inventory, few buyers, all make this price range tough - for now. Will spring back with a vigor when the economy improves.	It's cliché, but true. You must win both the price war, and the beauty contest. And it will help to have some luck & patience.
Homes Priced 200-500k	Balanced. Few investors, so owner-occupied buyers have a shot.  As always, have the loan underway, and be ready to move quickly on a nice home. Still an active price range...	Keep it priced well, and looking nice. Be ready to help buyers with loan costs. Get creative! Do NOT let a good buyer get away - there may not be another for awhile...
Homes Priced <100k	CrazyVille! The rules are thrown out, as this is almost entirely the domain of banks as sellers. Some buyers have written more than  a dozen offers, just to get one to stick. Short sales are plentiful, and require ANOTHER level of expertise to actually purchase one.
Tax Credit	Good thru 4/30/10. $8000 for first time buyers, $6500 for selected repeat buyers.	This is also good for sellers, as it takes "some" of the pressure off of buyers costs, plus brings a few more out into the market.
Interest Rates	Lower than anyone alive has seen. Below 5% for 30 year fixed. No kidding!	If you are also a buyer (after selling), this should be motivation to do whatever it takes to complete your sale...
Jobs	The linchpin to the entire recovery. As long as jobs are not being created, the recovery is likely to be a mirage...	This is not a metric any of us has control over, unless you have influence with the politicians. If you DO have this influence, ask them to relax the attack on employers.
Sunshine	Arizona has it. Chicago does not.

Patrick Harfst, CRS©