I know it is difficult to sort out all the real estate headlines that hit the press on a daily basis. Foreclosures, dropping prices, and daily decreases in sales volume! Many people are asking themselves, “is it ok to buy a home with all of this swirling?” Absolutely!! With the shift that has occurred in this real estate market, we are definitely in the midst of a buyer’s market. There are greater prices today than what we have seen in years, and these prices are paired up with fantastically low-rate mortgages. Many speculators believe the Federal Reserve will cut the rate again by another quarter point at the end of this month. This potentially means even better interest rates during a time when buyers have great negotiating ability. My recommendation is to get a head start on your property search so that you are ready to take advantage of these great rate offerings. This is a perfect time to step into home ownership and investment opportunities.
2007, Fifth Highest Year on Record for Existing Home Sales
Although the real estate market has been slowing over the last 2 years, it is very important to note that 2007 will still be the fifth highest year on record for existing home sales. The National Association of Realtors has recently released reports providing evidence that people are still buying homes at historical levels and that the favorable mortgage rates are still in play for prospective home buyers. One out of every 16 American households will buy a home this year, with the expected total of existing home sales to be around 5.78 million for the year. This is compared to 6.48 million total sales in 2006, which is believed to be an unsustainable level by experts. With greater inventory levels, and more reaction time in the absence of bidding wars and panic among buyers, now is an ideal time to consider homeownership in the Madison and Middleton areas. For more details on this report by the National Association of Realtors, please send me your questions and visit their site.
Water in the Basement
Over the last few months, we have had a lot of rain. Needless to say, some of it has made it’s way into people’s basements.
A few quick tips of prevention:
1) Walk the exterior and check the grade of the soil around your home. Does it slope towards or away from the home?
2) Replace any broken window well covers
3) Make sure that the gutters are clean. You may have to do this several times per year if you have a lot of leafing trees in your back yard.
4) Check the downspouts-are they far enough away from the house or is it puddling near the foundation?
For more details, check out this great website: http://www.informit.com/articles/article.aspx?p=426766&rl=1