Sellers....To List or Not to List...The before or after the Holidays Question

Should I list my home or is it better to wait until after the Holidays? 

The big answer to the question that so many sellers ask themselves as Christmas, Hannakuh, and the New Year nears is not necessarily what you think.

Most real estate professionals always advise sellers to list their homes during the holiday season rather than waiting, citing more serious buyers and less competition among properties, according to a recent survey from Realtor.com.


The property search site's Holiday Home Selling Survey gathered responses from 429 real estate professionals surveyed online between Oct. 26, 2011, and Nov. 8, 2011. The "holiday season" was defined as Nov. 23, 2011, to Jan. 2, 2012.

Among respondents, 60 percent said they would always advise a seller to list a home during the holiday season and agreed that "it's a good time to sell," while 30 percent said they would sometimes advise it if the seller were motivated. Only 1 percent said they would never advise it because "selling during the holiday season is always a bad idea."

The vast majority of respondents, 79 percent, said more serious buyers were one of the biggest benefits of listing during the holidays, while 61 percent said less competition among homes was a plus. Only 17 percent said cold weather making homes look cozy was an advantage.

Indeed, 39 percent of respondents cited winter weather as one of the biggest challenges to putting a home on the market during the holidays. An equal share said buyer vacation and celebration schedules were problem.

But the biggest challenge, noted by 63 percent of respondents, was keeping a home "open house ready," meaning clean and staged, during this time of year.

Selling a home during the holidays requires employing different strategies from selling a home during other times of the year, according to the survey.

More than eight out of 10 respondents said online listing photos were particularly crucial for homes listed during the holiday season. The main reasons cited were that buyers attend fewer open houses because of busy schedules or winter weather, while sellers also host fewer open houses during this time.

The majority of respondents, 74 percent, said pricing a home to sell was even more important during the holiday season, and 40 percent said staging a home was more important at this time of year. Nearly a third said being flexible with contract terms such as move-in dates and when closing costs were paid was more essential during the holidays.

The way a home is staged during this time of year is also significant, according to the survey. Almost all respondents said they advised sellers to put up some seasonal decorations, though there were differing opinions on the types of decorations.

A 37 percent plurality said homeowners should put up some nonreligious holiday decorations to make a home feel inviting, while 28 percent said sellers should put up all of their holiday decorations, including religious ones, to make their home feel festive, the survey said.

A similar share, 27 percent, said sellers should put up seasonal decor that is not suggestive of specific holidays, while 8 percent of respondents advised sellers to stage their home without any decorations at all.

Eighty percent of respondents said they encourage sellers to light their fireplace when staging a home during the holiday season, while 62 percent said they suggested sellers update outdoor lighting because the buyer is more likely to see the home at night due to shorter days.

Other popular staging advice for sellers included using winter-scented home fragrances before an open house, making the home feel more cozy through reading nooks and blankets on couches and beds, setting the table to showcase holiday entertaining, and playing seasonal music that is not specific to a particular holiday, the survey said.

Hope this information you find useful and please feel free to share with others that may benefit from this advice.  I appreciate as always your time in reading my blog and I hope that you have a wonderful Holiday Season! Merry Christmas & Happy New Year :-)

Foreclosure Activity falls to 42 Month Low in May!

Is the market finally on its way towards brighter days?  Can we really expect that with foreclosure numbers dwindling that our home inventory levels would finally subside and come down to normal levels within the next year? 

Anything is possible right? haha....Well I being the optimistic person that I am would love to see the foreclosure activity continue to fall, not just a month at a time but month after month.  This would then prove to me and to many others that we are in fact on our way to a recovery.  Yes, I said it....There is hope for a recovery folks but it starts with inventory levels as compared with the number of buyers and as long as we see the number of homes that hit the market decline from banks and short sales then we are on the right track. 

Foreclosure activity falls to 42-month low in May

Default notices drop to lowest monthly total since December 2006

By Inman News

Inman News™

Foreclosure-related filings on U.S. properties fell 33 percent year-over-year in May, hitting a 42-month low, according to a report from foreclosure data site RealtyTrac.

One in every 605 housing units, or 214,927 properties, received a foreclosure-related filing such as a default notice, scheduled auction, or bank repossession. That's a 2 percent drop from April and a 33 percent drop from a year ago.

"Foreclosure processing delays continue to mask the true face of the foreclosure situation, although there were some clues in the May numbers of what lies behind that mask," said James J. Saccacio, RealtyTrac's CEO, in a statement.

"First, activity spiked in May for various stages of the foreclosure process in some states, a pattern that has occurred in several states over the past few months. This pattern provides evidence that lenders are somewhat unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures and as they determine that some local markets are able to absorb more foreclosure inventory.

"Second, while the inventory of properties in the foreclosure process has declined steadily over the past six months -- thanks in large part to 16 consecutive months of year-over-year declines in new default notices -- the inventory of unsold bank-owned REOs increased in April and May even as new REO activity slowed in both of those months. That points to continued weak demand from buyers, making it tough for lenders to unload their REO inventory. Even at a significantly lower level than a year ago, the new supply of REOs exceeds the amount being sold each month."

Default notices declined to a 53-month low in May, falling to 58,797, the lowest monthly total since December 2006. Default notices fell 7 percent month-to-month and 39 percent year-over-year.

After eight straight months of decreases, the number of foreclosure auctions scheduled rose slightly, to 89,251, up 3 percent from April but down 33 percent from a year ago.

Bank repossessions fell 4 percent month-to-month and 29 percent year-over-year in May, with lenders taking 66,879 homes into their real-estate owned (REO) inventories.

"Since the so-called robo-signing controversy came to light in October 2010, REO activity has followed a roller coaster pattern, with five monthly decreases and three monthly increases," the report said.

States with a judicial foreclosure process saw activity decrease 45 percent year-over-year in May, while states with a nonjudicial foreclosure process saw activity fall 25 percent year-over-year. Scheduled auctions rose in both judicial and nonjudicial foreclosure states on a monthly basis, 6 percent and 2 percent, respectively. REO activity rose 1 percent month-to-month in judicial foreclosure states and fell 6 percent in nonjudicial foreclosure states.

Five states accounted for 51 percent of all foreclosure activity last month. California had the highest volume of properties receiving a filing (51,906), followed by Florida (19,192), Michigan (14,614), Arizona (13,122), and Nevada (11,039).

Nevada had the highest foreclosure rate among states for the 53rd straight month in May, with one in 103 housing units receiving a foreclosure-related filing that month. Overall foreclosure activity in the state fell 23.1 percent year-over-year, with bank repossessions falling 21 percent from an all-time monthly high in April. Default notices rose 8 percent and scheduled auctions fell 1 percent on a monthly basis.

For the sixth straight month, Arizona held the second-highest foreclosure rate in the nation with one in 210 housing units receiving a filing. Overall foreclosure activity in Arizona fell 18.5 percent year-over-year. Scheduled auctions rose 4 percent month-to-month and bank repossessions fell 8 percent month-to-month but were essentially flat year-over-year.

Scheduled auctions also rose month-to-month in California, 16 percent, though default notices fell 16 percent and REOs fell 25 percent. Though overall foreclosure activity fell 27.9 percent, the Golden State had the third-highest foreclosure rate in the nation, with one in 259 units receiving a foreclosure filing.

Real Estate Sales Rise in 49 States in 4th Quarter 2010

Real estate sales rise in 49 states in Q4NAR: home prices roughly flat year-over-year in Q4

By Inman NewsInman News™
February 10, 2011

Sales of existing single-family homes and condominiums in the fourth quarter of 2010 rose from the third quarter in all but one state, though only one state saw an annual rise compared to fourth-quarter 2009, according to a National Association of REALTORS® report released today.
Existing-home sales in the U.S. rose 15.4 percent in the fourth quarter from the third quarter, to a seasonally adjusted annual rate of 4.8 million. That's a 19.5 percent drop from fourth-quarter 2009, when the rate was 5.97 million -- a homebuyer tax credit-fueled rate NAR called "unsustainable." In 2010 overall, sales fell 4.8 percent, to an estimated 4.91 million, from 5.16 million in 2009.

The national median existing single-family home price in the fourth quarter of 2010 was essentially flat compared to the fourth quarter of 2009: $170,600.

Median prices in the fourth quarter of 2010 rose in 78 of 152 metropolitan areas across the country compared to the fourth quarter of 2009.

10 metro areas to see highest quarter-over-quarter median price jumps:
Metropolitan Area Q4 2009 median price Q4 2010 median price % change
Elmira, N.Y. $86,800 $101,100 16.5%
Pittsfield, Mass. $173,100 $200,500 15.8%
Binghamton, N.Y. $117,900 $136,300 15.6%
Burlington-South Burlington, Vt. $236,600 $270,600 14.4%
Bloomington-Normal, Ill. $146,700 $167,700 14.3%
Buffalo-Niagara Falls, N.Y. $110,700 $126,500 14.3%
Erie, Pa. $97,700 $110,300 12.9%
Peoria, Ill. $111,900 $126,100 12.7%
Indianapolis, Ind. $111,500 $124,300 11.5%
Milwaukee-Waukesha-West Allis, Wis. $188,400 $210,100 11.5%
Source: NAR

Median price rose the most quarter-over-quarter in the Northeast, up 2.3 percent to $240,400. Prices in the Midwest and South remained essentially flat at $139,200 and $152,400, respectively. The West was the only region to see a median price drop, -2.9 percent to $214,400.

When comparing 2009's median price to 2010's median price, metro areas in California stand out for their rate of appreciation:
Metro Area 2009 median price 2010 median price % change
Akron, Ohio $93,200 $108,900 16.8%
Elmira, N.Y. $87,300 $101,000 15.7%
San Fran Nor. Cali $493,310 $567,900 15.1%
San Jose-Sunnyvale $530,000 $602,000 13.6%
Riverside-San Bernardino $169,680 $187,000 10.2%
Erie, Pa. $97,900 $107,700 10.0%
Burlington-Vt. $241,800 $261,200 8.0%
Bridgeport-Conn. $379,200 $408,600 7.8%
Boston-Cambridge-N.H. $332,600 $357,300 7.4%
San Diego-Carlsbad-Calif. $359,500 $385,700 7.3%
Source: NAR

Lawrence Yun, NAR's chief economist, said in a statement that he was encouraged by the quarterly rise in sales. "Home sales ... are helping to absorb the inventory, including many distressed properties. Even with foreclosures continuing to enter the inventory pipeline, they've been selling well and housing supplies have trended down," Yun stated. "A recovery to normalcy requires steady trimming of the inventories."

Yun projected about 150,000 to 200,000 jobs will be added to the economy this year from an expected 300,000 additional home sales in 2011, the report said.
"An improving housing market and job growth will go hand in hand. The housing recovery will mean faster job growth," Yun added.

Virginia was the only state to see a quarterly drop in sales, down 5.4 percent, and sales in Washington, D.C., remained unchanged from the third quarter.

Compared to fourth-quarter 2009, however, only Idaho saw a yearly rise in sales: up 7.3 percent. Some foreclosure-ridden states -- Florida, Arizona, Nevada and California -- saw the smallest drops in sales during that time.

Distressed sales made up 34 percent of all sales in the fourth quarter, up only slightly from 32 percent in the fourth quarter of 2009.

10 states to see largest gains or smallest drops in sales from fourth quarter 2009 to fourth quarter 2010 (sales rates are seasonally adjusted, in thousands):
State Q4 2009 sales rate Q4 2010 sales rate % change
Idaho 49.2 52.8 7.3%
Florida 435.2 416.8 -4.2%
Arizona 158.4 150.4 -5.1%
Wyoming 9.6 8.8 -8.3%
Nevada 120 108 -10%
Mississippi 47.6 42.8 -10.1%
California 526.4 464.8 -11.7%
Hawaii 25.2 22 -12.7%
Colorado 108.4 90.8 -16.2%
Vermont 14.8 12.4 -16.2%
Source: NAR

Idaho also saw the biggest jump in sales from the third quarter of 2010 to the fourth quarter of 2010:
State Q3 2010 sales rate Q4 2010 sales rate % change
Idaho 26 52.8 103.1%
Vermont 8 12.4 55%
Minnesota 60.8 81.2 33.6%
Iowa 41.2 52.8 28.2%
North Dakota 9.2 11.6 26.1%
Oregon 44.4 56 26.1%
Utah 22 27.6 25.5%
Nevada 87.2 108 23.9%
Alaska 16.8 20.8 23.8%
Missouri 74.4 92 23.7%
Source: NAR

Idaho was at the top of a list of only seven states, and Washington, D.C., to see sales rise from 2009 to 2010:
State 2009 sales rate 2010 sales rate % change
Idaho 33.8 38.9 15.1%
Hawaii 18.4 21 14.1%
Florida 357.8 396.5 10.8%
Washington, D.C. 8.4 8.8 4.8%
Maryland 72.5 74.4 2.6%
Washington 82.3 83.7 1.7%
Mississippi 41.9 42.1 0.5%
Oregon 55 55.1 0.2%
Alaska 22.4 22.4 0%
Vermont 11.3 11.3 0%
Source: NAR

Several Midwestern states saw the biggest drops in sales from the fourth quarter of 2009 to the fourth quarter of 2010.

10 states to see biggest drops in quarter-over-quarter sales:
State Q4 2009 sales rate Q4 2010 sales rate % change
South Dakota 20.8 12.8 -38.5%
Minnesota 126 81.2 -35.6%
Pennsylvania 41 50.8 -33.4%
Kentucky 87.6 60 -31.5%
Nebraska 41.6 28.8 -30.8%
Indiana 124 88.4 -28.7%
Delaware 14 10 -28.6%
Oklahoma 89.66 4.4 -28.1%
North Dakota 16 11.6 -27.5%
Rhode Island 17.6 12.8 -27.3%
Source: NAR

The Midwest experienced the biggest estimated overall drop in sales in 2010 compared to 2009: 7.5 percent, to a rate of 1.08 million. The Northeast saw a drop of 4.8 percent, to 817,000. The West saw a decline of 4.7 percent, to 1.15 million. The South saw the smallest decrease, down 2.8 percent, to 1.86 million.

10 states to see biggest decreases in sales from 2009 to 2010:
State 2009 sales rate 2010 sales rate % change
South Dakota 17.4 14.2 -18.4%
Minnesota 107.4 89.7 -16.5%
Delaware 12.6 10.9 -13.5%
Oklahoma 83.5 72.3 -13.4%
Rhode Island 15.4 13.6 -11.7%
Missouri 105.9 94.6 -10.7%
Michigan 167.1 149.6 -10.5%
Pennsylvania 176.5 160.3 -9.2%
Utah 31.1 28.5 -8.4%
Kansas 56.5 51.8 -8.3%
Source: NAR

Springtime is Around the Corner....Buying? Selling?

Is it possible that after the worst snow storm in over a decade that we can really be talking or even thinking about Spring? Is is possible that in only a matter of a few short weeks that Mother Nature will shine down on us and bless us with warmer weather and melting snow?

I for one am ready for Spring and can only hope that we've seen our last of "major" snow falls for the year and I'm hopeful that warm weather and all the optimism of spring is around the corner. The realist in me however realizes that its very likely we may have a couple months before this happens.

So When is Spring?

We all have our own opinion on this but is it March, is is April or May? From a real estate broker's prospective the spring market is March. Its the month that we have glimpses of warm weather, then the next day may revert to cold and snow. The days lengthen however and there just seems to be a better all around mood amongst people as we are seeing that we are truly in the fourth quarter of a long winter.

What does this mean for Sellers?

Springtime historically is a time that many home sellers that are currently on the market may see a bump in activity and its a time when home sellers that had prepared over the winter time are set to put their home up for sale.

Putting a home up for sale in the dead of winter often has many obstacles to it compared with waiting until Spring.

1. Your competing with Holidays - Christmas, Thanksgiving, New Years....Buyers have too much on their plate to find time often to go home shopping.
   


2. Snow & Bath Weather - Lets face it, when its Minus 5 degrees there aren't many places most people would rather be when they aren't at work than wrapped up in a blanket at home.



3. Spring is Nearing - many buyers expect a larger number of homes to be available come spring so many decide to make plans for a more thorough and expansive home search once winter nears an end.

What Does Spring Mean for Buyers?

Spring is such a great time of year for so many reasons but for those looking to buy a home its now the time that you generally are seeing many options hit the market. Didn't find what you were looking for the previous few months? Now may be the time that the perfect home hits the market!

The downside for buyers if any with a spring market is that sellers do often have optimism at the highest and may put their home on the market a tad high. I've seen this more often than not but on the flip side, for those that may have missed the buyers they were hoping for during winter they may be getting more aggressive and will lower their prices as competition heats up.

No matter how you slice it, the upcoming Spring Season is always an exciting one for the Real Estate Market.

If your considering selling your home, now is the time to get it prepared. Meet with a professional realtor like myself and get advice on final "to do's" and set a goal for the completion of your projects.

If your hoping to buy a home, now is the time to meet with your banker or a mortgage broker. If you need someone, I have a few that I highly recommend that can be of assistance. Getting pre-approved to purchase a home is easy and painless. If your not quite ready to buy, it still may be a good idea to meet with a lender and discuss options and determine if your credit is where it needs to be in order to purchase a home in the future. If its not, they can often help advise you on what steps to take in order to clean up your credit.

I hope you found today's blog helpful! If you or anyone you know may benefit from my blog please feel free to forward this to them. Additionally, I'm available for any advice specific to your needs so please don't hesitate to contact me direct if you'd like.

Thanks for reading my blog and happy house-hunting/selling! Ben

9 Tips for Staging Your Home to Sell

9 Staging Tips to Sell Your Home Quickly

Surveys show that staging pays off and often helps to sell a home fast. But you don't have to spend thousands to make a big impact. Put the home center stage with these tips!

1. First Impressions Count

Roll out the red carpet for potential home buyers by sprucing up your entryways, especially the one on a lockbox. Welcome mats, planters filled with seasonal flowers, and clutter-free foyers and hallways set the stage.

2. Sell the Space, Not Your Stuff

Remember that the goal of a successful showing is to make a prospect feel at home – like it's theirs, not yours. Put away your extensive personal collections. Less is more: open up your space so prospects can actually see what they're buying.

3. Paint and Elbow Grease Work Wonders

Fresh paint and a thorough cleaning will give you the greatest “bang for your buck.” Remember that neutral walls are your best bet when staging a home for sale.

4. Go with the Flow

Arrange furniture for easy traffic flow. Consider placing a major piece of furniture at an angle, such as a couch or desk. Angles add interest and can create a more open feel.

5. See the Light

Move lamps to dark corners and arrange window treatments so that natural light floods your rooms. Brighter is better, and your rooms will look larger.

6. Go Green

Live plants can add decorative flair, without spending a bundle. Plants and cut flowers have a way of warming up a room.

7. Don't Forget the Outdoors

If you have a porch, deck or patio, clean the furniture and replace worn cushions. Give your deck a fresh finish with a new stain and seal.

8. Make the Kitchen Sparkle

Declutter the countertops by removing toasters, food processors, and other non-decorative items. If you have a breakfast table or counter, put out a couple of table settings complete with place mats, napkins, and dinnerware.

9. Warm Up an Empty Home

If your home is vacant, consider renting furniture for key rooms, but don't go overboard. Ask your real estate professional for advice, based on your home's unique features and selling points.

These are some great starters to get your home prepared for your open house or its introduction to the market. Remember, this market is extremely competitive for sellers and by utlizing the advice you'll find here and other areas you can only help improve your chances for a quick and successful home sale!

Thanks again for reading my blog and be sure to forward this to any friends or family that may benefit. Also, if you are looking to purchase or sell a home, please feel free to contact me direct as I welcome the opportunity to work for you!

How Does the Foreclosure Freeze Impact Housing?

The Optimists

Bank of America, JP Morgan Chase, Ally Financials GMAC mortgage division and PNC Financial, have all suspended home seizures in all 23 states where courts oversee foreclosures. Bank of America is halting foreclosures in all 50 states to examine its process. Past sales will stand, and if you are not already out of the house.

Eviction: you could be evicted unless the buyer was the bank, they will not evict during the freeze

Helps families: The foreclosure freeze may buy time for some families and allow them to catch up and stay in their homes which could help some families try to get back on their feet and catch up with payments.

Reduces housing supply: In the short term, the lack of new foreclosed properties coming on the market could help the housing industry by keeping supply off the market.

Better mortgage mods: If the banks cannot willy nilly foreclose on properties, they will be forced to lend a stronger hand to mortgage modifications benefiting many more people.

Writedowns: banks may finally realize that foreclosure is damaging and that loan writedowns could be taken more seriously as a less complicated option to getting inventory off the books and repairing balance sheets by making these assets whole

Short Sales: Banks may be more willing to accept a short-sale offer. If the foreclosure route is messy or even unavailable for some period,the banks may become more open to a short sale as an alternative to holding inventory.

The Pessimists

The moratoriums can be incredibly destructive to the fragile recovery of the housing and housing finance markets. Consumers looking to get back into housing are even more put off than before.

Inventory: Those freezes could delay the housing market's recovery and a moratorium would add time to the necessary process of washing out all that surplus inventory.

Price stability: It will be difficult for prices to stabilize as long as a large number of homes remain in the foreclosure pipeline. They are likely to hold off to see whether more supply would lower prices even more, leading to further house price declines.

Crime and disrepair: if some properties are not taken off the market and are allowed to be abandoned they can It will also create more crime since communities will have vacant homes sitting empty for longer periods of time

A freeze in sales: The title insurance protects the bank that issuing a new mortgage. Title insurance searches for problems with title and assures or insures that the propertry is free and clear and can be sold. No title insurance, no new mortgage and no foreclosure sale. Title Insurance payouts could be enormous.

The banks will pull it: Fannie & Freddie stand to lose billions and will take the banks to court to recoup.

Sales slow significantly: If title insurance companies start to shy away from insuring foreclosed properties because of unexpected claims, the housing market could take another hit. Sales could be hampered by difficulty in getting title insurance, at or by higher fees associated with higher risk assessment.

Related ArticlesDeficiency Judgments: Did You Know? Fannie Mae: First Look Gives Home Buyers An Edge Banks to allow local groups to buy foreclosures REsourced from http://www.yourpropertypath.com/

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Chicago Area Home Sales Down.....NOW IS TIME TO BUY!!

Today the most recent reports updating us from the Illinois Association of Realtors has given us another opportunity to look at the glass as half empty or half full.

As for me, while not always successful but given the chance will 9/10 times find myself seeing the glass as half full.

Here is the latest news; Despite record low mortage rates, home sales and median home prices tumbled in the Chicago area during September. According to the Illinois Association, September sales were down 22.4% from a year ago and down 5.4% from August. The median sales price was down 12.1% to $175,000.00

This Chicago "area" defines 9 counties in Northeastern Illinois and may not be a reflection on your area.

For Chicago, home sales fell 26.9% compared with last year and the median home price is down 20% from last year this time.

The forecasts for the remaining months of 2010 suggest more of the same. Other realtors and I can vouch for this, suggest that distressed properties, including foreclosures and short sales, dominate the market and are driving down prices.

Statewide numbers appear similar with home sales down 23.4% from a year ago and the median home sale price down 8 percent from a year ago to $145,983.

What can we take from this? Well if you are a "GLASS IS HALF EMPTY" type, then you'll say the market is terrible. Don't buy a home, don't invest in real estate and wait until things improve. Well, this may in fact be decent logic and based on past history one may conclude that things will not get any better for some time and we may not have seen prices hit the bottom yet.

I however would rather paint a better picture for you all to reflect on this news. Lets read between the lines.....The majority of all my clients and those other realtors are reporting that the majority of all sales have been foreclosures and short sales. Now think for a moment...Do you suppose all those buyers, who have recently purchased homes with prices as low as they are, coupled with interest rates at all time lows will see a great move in property value north of their investment when the market returns? Of course! If 9 out of 10 homes in any subdivision were purchased prior to the market slide then its a matter of economics that once distressed homes are no longer much of an option, home values will spike higher to that of a common ground that all home sellers once had. This means an opportunity people for you to purchase homes or investment properties as prices now that will see great returns in future years!

Don't sit on the sideline and wait for a recovery. It may be too late and interest rates may not be as low as they are today.

The best opportunity for anyone that has been renting and may qualify for a home is to act now. If your looking to invest in property above and beyond your home, act now. If you are in a financial position to sell your home and upgrade, do it now!

If you need help and would like to speak with a great lender, contact me today and I'll put you in touch with a couple of the best in the industry to discuss options with you. If you are already approved and ready to start your search then contact a local agent or if your in the Dupage/Will County area, contact me today, you'll be glad you !

Thanks as always for reading my blog and please feel free as always to forward this on to friends or family that you feel may benefit from hearing the most up to date news in real estate or tips for your home:)

Why Fall is a Great Time to Buy a Home!

Everyone knows that the spring market can be hectic and often seen as the peak of the real estate in terms of annual activity. Buyers are chasing to find a great home to purchase and close during the summer, get acclimated to the new home in time for a new school year to start in the fall.

What most don't realize is that Fall isn't far behind in terms of activity and is a great time for buyers and for sellers. For many agents, this is the second busiest time of the year and its a great time for buyers to purchase and for sellers to move a home prior to winter.

Summer has passed an so has what appears to be a perfect time to have sold your home. Now Fall is here and if you won't sell your home in the next few months then old man winter is here with the prospect of selling your home greatly dimished. What does this mean? For many sellers it means lowering the price and doing their best to meet the demand of any buyers that are in the market.

For a buyer, this means that competition is heating up! If you find a home that your interested in buying, don't wait to make an offer, but do so quickly! Sellers are often willing to move more heading into a long winter on price as their motivation may be at an all time high during the selling process. As a buyer, make sure your agent keeps you abreast of all hot buys and when you find the one that fits your needs, act on it! Multiple offers are not extinct and are common place on homes when they are listed aggressively this time of year. This however is not an open suggestion to overpay for any home during this buyer's market. Don't let emotion cloud better judgement if you do find yourself in a mutliple bid situation. There will always be another home that will come on the market and fit your needs.

If you are in the market to purchase, contact an agent today and you'll find some amazing opportunities await! If your a seller, now is the time to put your home up for sale, not a few months from now when fewer buyers are available, demand is down and competition is high amongst all others that couldn't sell.