Today's Marketplace - Jean Dineen : Remax Broker Associate : Concord NH, 03301

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Jean Dineen

Broker Associate / CBR
25 Hall St. Suite 102
Concord, NH 03301
(603)229-0092 ext. 14
jeandineen@tds.net

Weather Forecast

Today's Marketplace

We have been experiencing a change in the market since the boom ending in 2005. 2006-2007 brought the years of correction where home prices declined and inventory stayed on the market longer.

As we approach 2009 we are in the recovery to opportunity period according to national and local economists. They predict that a return to stabilized and possibly an upward swing in pricing will occur by the end of 2009.

What does this mean to sellers? If you hold on and price realistically, present an uncluttered, and well maintained home, it will sell. It may take a little longer, unless you are facing a financial burden, or a move that won’t wait, then realistic pricing for today’s market is necessary. Remember, you are re-buying at the same rate depending on your choice of relocation.

Buyers, this is the right time to buy. Interest rates are low, there is and will be a large inventory to choose from. Everyone is looking for “A DEAL”, well don’t forget, you get what you pay for. Many stagnant and pre-foreclosure properties may not have been maintained and you may have to invest more money than expected after you move in.

Renters, how much are you throwing away every month waiting for those prices to fall through the bottom, at $1000 a month, that’s $12,000 towards a down payment on a home of your own. Let’s be realistic, sellers are not going to sell for less than they have into property or what they can realistically buy for when they relocate.

Home ownership is not a short term venture. It is the most important and expensive purchases you will make. Therefore consider it as an investment that historically builds equity. Homes have doubled in value over the last ten years. Real estate is cyclic and it is local. New England was one of the first to show a decline in prices and is one of the first to recover. NH is leading the pack in the recovery stage as it took less of a hit.

So, work with a Realtor, get pre-approved with a local lender, and have a home inspection to assure you are getting the “BEST DEAL”.

For more national information click here.