September, 2009

The existing home sales numbers are on what’s being called ‘a record roll’ with the sales numbers increasing – four months in a row. We’ll see Thursday, whether that winning streak continues.

The last set of numbers, which looked at July, indicated that the biggest sales leader in the nation was the Northeast. Existing home sales there surged more than 13%, in July over June. In any economy, that’s a huge number, and come Thursday, we’ll see if the buyers have sped up, or slowed down in the Northeast.

In the Midwest, July’s numbers for existing home sales were up nearly 11%. When you compare July with June of this year, we saw another double-digit increase, month-to-month. Will existing home sales there continue to head up? We’ll find out Thursday.

In the South, last time around we saw a month-to-month existing home sales jump of more than seven percent. It will be interesting to see whether the bargains there, especially in Florida, will be enough to see sales there increase yet again.

And finally, in the West, in the last report, the Existing Home Sales there slipped a bit in July over June, by just under two percent. Have the buyers there revved up in the past month, enough to bring the sales numbers out west into the plus column?

Tune in next week, when we’ll have that answer and much more information to look forward to.

However, Bernanke cautions that it would be many months before unemployment rates would drop significantly.

And, Bloomberg reports that the Federal Reserve may keep interest rates low for “many years” to help U.S. consumers and companies, according to economists at Goldman Sachs. Some forecasters have said they expect the Fed to raise rates next year, but the Goldman economists say they believe the Fed will keep its key rate near zero at least through 2010 and probably longer. Keeping U.S. rates there until 2011 may represent some attractive buying opportunities while keep borrowing costs low.

REALTORS® and industry experts in one of the nation’s hardest hit areas, Southwest Florida, say we may be finally looking in the rear-view mirror as sales numbers rise in several counties there, and prices continue to attract buyers. Once-hesitant buyers have been jumping back into the market this summer, which has been great for Florida buyers and sellers alike. REALTORS® have reported that there are more buyers at the mid- and higher ends of the market as the inventory of homes priced under $300,000 shrunk.

See your home through the potential buyer’s eyes: Go through each room of your home and take a picture. Try to focus on the dimensions of the room, rather than the furniture, as this is going to be your map. You want to take a photo that captures what someone walking into a room might see, so you can see yourself what shows well and what doesn’t. Remember that your house is going on the market as a product, something you want to sell, so you’ve got to make it appeal to more people than just yourself. Try to imagine what someone who walks into your rooms might be turned on or off by.

Make it neutral: Ask any professional stager, and one of the first things they’ll tell you to do is get rid of the personal effects. You want people to picture themselves in their new home, not your old home, so take all magnets and photos and paintings off the refrigerator; clear off surface space on end tables or furniture; and put away the family photos.

De-clutter: Tidy up unruly wires and stray cords with a simple elastic band. Clean off counters in the kitchen and bathroom. And while you may think having your bookshelves filled with books upon papers upon more books may make you look studious, others may not.

Repairs: If you’ve been putting off fixing that leaky faucet, now’s the time to do it, because a potential buyer will notice all those little things you’ve learned to live with. Start with the most used areas. In your kitchen look for anything that is looking tired out or damaged. Simple stuff like replacing light bulbs and screwing down sockets can be done in seconds. If the countertop is starting to peel or chip, you can fill the gaps easily with an epoxy glue and stick down the laminate again. There are plenty of do it yourself guides out there that can give you step by step instructions.

If you have plaster walls, fix the cracks and nail holes by using a spackling compound to fill the gaps. Of course, to give that brand new look, you can paint entire rooms with some neutral colors and a little elbow grease.

Don’t forget the exterior: Remember, the outside of your house is going to be the first thing your potential buyer sees. The mailbox, for example, is one of the things people see first. If it’s bent, straighten it. If it won’t close, grab some pliers and align those hinges. If you have a fence, look for any broken or damaged stakes or pickets. You can replace them with just a hammer and some nails.

Your REALTOR® is a great resource, and will be able to help you with the finishing touches prior to actually putting your home on the market and taking those all important pictures.

With these simple fixes accomplished, you can relax and enjoy the process of opening your home to its future new owners.

There are many things you can do with Fall foliage, to make your house really shine — clear up everything that looks messy, if a plant is starting to die, cut it up to the ground; if you have annuals, you can pull them out. Although, this will leave you with some holes in the garden, you can fix these by filling them with pumpkins or gourds, while creating a Fall theme. Or, use some garden ornaments such as Halloween balls, or watering cans or insert cold season annuals, which will also freshen the garden up.

The key is that you don’t have to spend a lot of money to make things look fresher.

More and more people are becoming locavores and eating what’s local. And to some, nothing is more local than growing your own produce in your garden. Planting any kind of red, green, or multicolor lettuce is great; as is arugula and any kind of the cool season salad greens, such as parsley.

Don’t forget to fertilize your lawn, too. In the colder parts of the country, the grass is beginning a new season of new growth, with the cooler weather and the return of the rain. Also, you can buy or rent a core-aerator which is a machine that pokes hole in the lawn and lets the water drain through while letting some air down to the roots.

Finally, to really add shine to your yard, try edging… Put a crisp edge between the flower bed and the lawn and your pavement; it will make your place look really sharp.