Real Estate Market

  Interest Rates continue to  hover around 5% with a little movement on either side during a week.  Loans are readily available for the qualified buyer and FHA loans are very popular with their requirement of only 3 1/2% down. 

  Affordability

  Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, as well as the first-time buyer tax credit. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 15 percent.

 Sources: National Association of Realtors, Freddie Mac

  Tax Credits:  Just a reminder:  There are 2 tax credits that you must be under contract by April 30, 2010, to receive.  The first time homebuyer credit of $8,000 and the credit of $6,500 for those who have owned their home for at least five years and buy into another home. Give me a call if you have questions about this.

Price it Right

Sellers who listed their home at the price originally recommended by their agent sold it:

• 38 days faster
• For 2.25% higher
• With 1 less price reduction

Compared to sellers who did not take their agent's recommendation.

Staging Stats

Compared to homes that were not staged, staged homes had:

• more showings
• a higher list-to-sell percentage

Other notable stats found include:

• Only 1 in 3 sellers staged their home, even with all the commonly accepted advantages of staging.
• Staging typically took between 2 - 6 hours to complete.
• Including the cost of a staging professional and items purchased or rented, staging cost an average of $523.

Although it has advantages at all price points, staging was also found to be particularly important for homes priced over $600,000.