Buying a home 2007

Why it is a great time to be a first time homebuyer or a move-up homebuyer in Morris, Essex, and Union Counties NJ. 

 

Ø      Currently interest rates are still near historic lows.

Ø      Lower priced homes are still selling well.

Ø      Homes that are more at the mid price points of the market are selling more slowly.

Ø      Homes in the upper price points of the market are selling the slowest.

 

Currently a first time homebuyer can negotiate for a better price on a moderately priced home and have a good chance of getting it at the price they are looking for with terms they are looking for as well.

 

Move up buyers are also in a good position in this market. It is true that selling your current home will not be as easy as in past years, but if you follow the approach given later in this article your home will sell for a fair price. When you look for your move up home you are in a good position. You have negotiating power now. You should be able to negotiate a price on the Move up home that is more favorable to you. As a example if you are able to get your move up home for a price 8% better than last year, likely your current home because it is in a lower price category will sell for about 4% or 5% lower than last year. Not a bad trade off at all.

 

Promised selling tips:

Ø      Make sure your home is as clean as possible.

Ø      Fresh paint makes a big difference in the impression you make.

Ø      Remove any clutter form your home.

Ø      Make sure your yard is well kept and new flowers are planted.

Ø      Price your home 3% to 4% below comparable homes on the market for a faster sale.

Ø      Make sure that the Realtor you hire has an aggressive and comprehensive marketing plan, not just newspapers and open houses.

• Morris County New Jersey