• Bring in the light . The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical suntubes.
• Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
• Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!

These simple tips can help you sell your home and take advantage of today's market. Please contact us if you have any questions about selling your home. We are here to help!

Home buyers are getting another boost this summer with incredibly affordable financing. The average 30-year fixed-rate loan dropped in June to 4.69 percent, according to Freddie Mac. These rates are the lowest on record for the 30-year loan, and comparable with the shorter 20-year home loans offered in the 1950s.

These low rates offer today's buyer significant purchasing power. Through low interest rates and affordable monthly loan payments, many buyers will realize even greater savings than the $8,000 tax credit offered earlier in the year. Contact us today for more information on this favorable buyers' market!

Existing-home sales had another strong showing in May with gains reported in the West and South. According to a June report by the National Association of Realtors® (NAR), existing home-sales are on an annual pace to reach 5.66 million units for the year, approximately 19 percent above 2009 levels.

Lawrence Yun, NAR chief economist, believes the trend will continue for at least another month. "We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings," he said. Congress recently extended the tax credit closing deadline to September 30, helping would-be buyers who were under contract before April 30 to qualify for the $8,000 credit.

First time buyers accounted for 46 percent in May, while repeat buyers accounted for 40 percent of transactions; the remaining sales were attributed to investors. All-cash sales held steady at 25 percent, compared to 26 percent the month before.

NAR President Vicki Cox Golder said home prices appear to be stabilizing. "With distressed sales at roughly the same level as a year ago, the gain in home prices is a hopeful sign that the market is in a good position to stand on its own without further government stimulus," she said.

Sellers, you have an excellent opportunity to sell your home this season, if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage — whether it’s a home purchase, a refinancing, or a home equity loan — is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today, and please contact us for a list of preferred mortgage professionals in our area.

Existing-home sales got a boost in April with reported 7.6 percent increase in units sold, according to a report by the National Association of REALTORS (NAR). A number of factors played into the increase, including low interest rates, increased consumer confidence, and the expiring tax credit. Existing-home sales are on pace to reach 5.77 million units sold for 2010, which is 22 percent higher than the 4.70 million unit pace set one year ago.

Lawrence Yun, NAR chief economist, expected the increase. "The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market," he said. "For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low."

First time buyers accounted for 49 percent of April's market activity, while repeat buyers accounted for 36 percent of transactions; the remaining sales were attributed to investors. All-cash sales held steady at 26 percent, compared to 27 percent the month before.

Distressed home sales were down 2 percent in April, accounting for 33 percent of reported sales. NAR President Vicki Cox Golder explains that buyers are still active, despite the expired tax credit. "It looks like the level of home sales that close in May and June will stay elevated, but many buyers remain in the market even without the tax credit," she said. "Some Realtors tell us they are very busy with clients who are entering the market now as a result of improved conditions, while others are welcoming a slowdown from frantic market conditions in recent months."

Freddie Mac reported 30-year, conventional, fixed rate mortgages were up slightly at 5.10 percent, compared to 4.97 percent in March.

Listing Courtesy of Andrew Rogers

Chris Farkas    www.RealBellingham.com

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Listing Courtesy of Christine Farkas

Sellers, you have an excellent opportunity to sell your home this season, if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Decreases agents response
· Limits qualified buyers
· Decreases showings
· Decreases prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

Chris Farkas

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Bank Owned Homes
Stop Foreclosure
FSBO Assistance

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