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 | Atlantic County, and South Jersey Shore Area Real Estate Blog |
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Monday, 05 December 2011
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Should I Take My Home Off the Market During the Holidays?
 When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may
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find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will
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Will Mortgage Rates Stay Low?
 While the Federal Reserve has promised to keep rates "low" until 2013, it is clear to many experts that the current historical lows we are experiencing will not last.
According to the latest projections from the National Association of Realtors® (NAR), interest rates should gradually rise out of historic lows as we move through 2012.
This isn't the most welcome news for a housing market that has continued to falter and a credit market that already has tightened lending standards
The NAR reports that current surveys reflect the tight credit conditions. They report that recent buyers are staying well within their means, with higher incomes and higher downpayments.
Richard Peach, Senior Vice President at the Federal Reserve Board of New York, who said the economy is under-performing, reports, "Nearly two-and-a-half years since the end of 'the great recession,' the economy continues to operate well below its potential. Among the significant structural impediments are the legacy of the housing boom and bust, and fiscal contrition at the state and local level."
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Real Estate Outlook:
Will 2012 See Improvement?
 We’ve seen the effects of tight mortgage conditions over the last year. Existing and new homes sales have struggled and we are now left with sizable pent-up demand. Will this trend continue into 2012?
For starters, consumer prices fell in October, meaning low wage workers and others struggling to make ends meet will find more affordability. Additionally, according to experts, this decline gives the Federal Reserve more wiggle room when it comes to policy making should the economy worsen.
Why the decline, which was not wholly expected? The recent developments in the European debt crisis have had their affects on American markets.
Yet, affordabilty is the name of the game for 2012. The National Association of Realtors reports that next year will be one of the best years on record for housing affordability.
"Housing affordability conditions, based on the relationship between median home prices, mortgage interest rates, and median family income, have been at a record high this year," said Lawrence Yun. "Very favorable affordability conditions will dominate next year as well, which will probably be the second best year on record dating back to 1970. Our hope is that credit restrictions will ease and allow more home buyers to take advantage of current
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Top Ways to Spruce
Up Your Home
 Is your den feeling dreary? Does your kitchen have too much kitsch? Take a moment to read these tips for sprucing up your home.
From time to time, or decade to decade, your home may start to look a little dingy, cluttered, or out-of-date. Have no fear! There are a few simple, inexpensive ways to update rooms for your own enjoyment or to impress buyers!
First, declutter and reorganize. It’s amazing how much "stuff" we can accumulate over time. It’s time to ask yourself what you really need. Plus, there are some great charities that would love your "stuff". The Goodwill, Salvation Army, and many local churches accept donations all year round.
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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