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Dave Kinslowe
314-517-7224
Summer 2010
New listings still exceed buyers.
Prices have corrected in all areas but we may not have hit a bottom
due to the unstable employment market and weak economy.
New government regulations have made it
more complicated to get a loan, underwrite the loan, and appraise a
property.
If you are ready to buy, you should be
able to get a better deal than in the past couple of years.
Don't think you are going to get a "steal" unless you are willing to
buy a property in really rough shape, and make sure your lender is
willing to loan on that kind of property. There are
foreclosures and short sales out there, but that may not be for a
typical home buyer.
If you want to sell in this environment,
you need to take an honest and objective look at your home and the
local market. "Testing the waters" with a price based on comps
from a few years ago may mean you are on the market for 6 months or
more with no offers.
Your home HAS to to be on the top Web sites and the
photos have to look great- don't use an agent who can't deliver
a strong web presentation- 90% of buyers are using the Internet
to shop.
THE GOOD
NEWS: Interest rates are fantastic and at historic low
rates for qualified buyers. For sellers, there are still
buyers out there but they are very picky and want to think they are
getting a good deal.
These are my opinions, but I would be
happy to run an analysis of the market where you would
like to buy or sell.
Contact me at 314-517-7224.
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