By:Dennis Norman
Property owners thinking of selling their homes as well as consumers thinking about buying a home are in the same boat. You will both find yourself in a challenging real estate and mortgage market in the shadows of a shaky economy. Real estate values have dropped in most parts of the country after several years of record growth,the inventory of homes is large and sales are slowing again. You are asking yourself if now is the right time to sell or buy. The media has sensationalized the problems in the market and have scared many consumers into a state of paralysis with regard to making a move when it comes to real estate.
The current market may very well present the consumer with some of the best buying opportunities as homes are very affordable due to low interest rates and declining prices. For the seller the road is bumpy but depending on what happens in the economy in the months ahead now may very well present the best 
opportunity to sell your home. The bottom line is no one really knows what is going to happen in the months ahead. Our country is facing a very expensive bailout of the banking industry;the auto industry is suffering as well and even those industries that are holding their own for now are nervous. We have a new administration coming into power soon. One thing is for sure,with all this going on,the real estate market is probably not going to be flat going forward and it may very well be a roller coaster ride.
So what can you do? Do your homework and be informed! Whether you are a buyer or a seller knowing the median home prices for your market would be helpful. This will let you see the values are in your area as well as whether prices have been rising or falling. Realtor.Com can be a useful site to obtain current market information such as average list price,average sales price,average number of days homes have been on the market as well as the number of homes on the market. If you would like to know the demographic data about the people in your neighborhood or an area you are looking at homes in,this information is available from the census bureau.
After you have done your own homework and become familiar with the market conditions,prices and inventory the next step is to choose a professional to help you in the home buying or selling process. Now,more than ever,you need a professional to guide you through the process. A professional REALTOR(R) is your best choice for this.
Related posts:
- Selling your home? Help on how to do it in this market…Part 1 in a series
- Has the real estate market hit bottom?
- Selling your home? Help on how to do it in this market…Final post in series
- Selling your home? Help on how to do it in this market…Part 2 in a series
- Boomers aren’t selling their homes but are looking to buy investment property
