5 Proven Tips to Maximize Garage Sale Profits

By: Sandy Leakeas ` Realtor Capstone Realty

‘Tis the season…for Garage Sales! Yes, it’s that time of year again…garage or yard sale time to get rid of all those items you boxed up during your Spring cleaning and make some “fun” money while you’re at it. Below are five proven tips used by savvy garage sale sellers to maximize profits and make getting up way before the crack of dawn worth it!

1.) Communicate, Communicate, Communicate: Tell everyone you know that you’re having a garage sale. Post it on Face Book and Craig’s List. Run an ad in your local newspaper. Put it on your community bulletin board. Better yet…see if your community will sponsor an annual or semi-annual sale and will provide a newspaper ad, signs, and banners.

2.) Stage Your Sale: Just as you may stage your house for an open house or viewing, stage your garage sale too. Put items that go together in the same general area. For instance, put all kitchen items on one table, bathroom items on another, etc. Just as buyers go room to room when viewing a property they can go from table to table to look at items they may (hopefully) need. They may make other impulse purchases as they shop the “room”. As in prepping your home for sale, keep the areas you have your items displayed on tidy…as much as you can. Place large items near the curb or at bottom of your driveway…sure it’s a little more work but people have a tendency to stop when big items catch their attention. Put items of clothing in bins or boxes organized by size…people can dig though the boxes looking for that hidden gem and may pick up a few extra items while at it!

3.) Curb Appeal: Just as a property that is on the market needs curb appeal so does your garage sale. Put a “Free Box” near the curb…close enough to entice someone to stop and check out the items in the box but not close enough so that they do a “drive by”. The “Free Box” appeals to everyone…and the price is certainly right! People who stop to check out your “Free Box” also check out your other items.

4.) Pricing: Just as the pricing of your home for sale is important so is the pricing of items you want to sell to others. When pricing your items keep in mind that people aren’t emotionally attached to your stuff so make sure you price it to move. Also offer quantity discounts. Try to up sell people as well…need a towel rack to go along with those towels you picked out? The more you move out at your sale the more you move into your pocket. Don’t price anything less than 25 cents…you won’t have to make coin change and can usually get by with a roll of quarters as the only change in your kitty when you begin the sale. Advertise items at discounted prices towards the end of your sale. You don’t really want to pack that stuff up again, do you?

5.) Negotiate: Be willing to negotiate. Be open to adjusting your price if someone really wants an item but doesn’t want to pay the listed price. Or, offer an extra item or two to sweeten the pot. You may find that you may really enjoy this thing called negotiating…often referred to as haggling in garage sale terms!

5 Ways to add Curb Appeal to your Home

First impressions really do count! If your home’s curb appeal is outstanding, it will make people (especially buyers) want to see what the inside looks like.

1.  The entrance to your home is one of the best places to start when enhancing your curb appeal. The Front Door is where you can get a lot of wow factor. It should be clean, bright and welcoming. Fresh paint in an eye catching color will do wonders.  While your at it make sure the trim is freshened up too!

2.  Take a look at your House Numbers. Do they look worn and tired? Some polishing will add new life or maybe it’s time to replace them with something fresh and new. Be sure they are easy to read from the street and compliment the home’s style.

This is a good time to take a look at the other outdoor hardware,  lighting and mailbox as well. New lights can set a welcoming glow, and a new mailbox makes a better impression than a faded, dented slightly leaning tired one does!

3.  Of course a Pretty Landscape is what curb appeal is all about.  There are many things that can be done in a day or weekend. Start with pressure washing your walkways and driveway, a fresh clean path to the front door is a great first impression. (Might be a good idea to see if the house needs it too!)

Next, if you have any flower beds or places where bushes and trees grow, make sure they are cleaned out & trimmed. A new application of mulch always makes things look & smell better.

Container gardening is another way to add pop to your landscape. They can accent a walkway, patio or porch. Pops of color and varying texture will add interest and draw the eye towards the home. There are so many different ways you can add special touches to your landscape. Check out HGTV, Better Homes & Gardens, and DYI for some great affordable ideas.

4.  Add Sparkle and Shine…don’t forget The Windows! One of the simplest but most satisfying things you can do to add curb appeal is to clean the windows! They reflect the landscape during the day, and at night the warm glow from inside will be clearly seen.  Clean windows are the perfect way to showcase your lighting and pretty landscape.

5.  Accessorize! Just like the inside of your home, the right tasteful accessories can be the perfect touch. From flags to small bubbling water features, there are many ways to accessorize.  If you have a swing or seating area, add some colorful pillows and an outdoor rug.  Something as simple as some glass stones in your flowerpot will add a little subtle interest.  You can get creative with these easy affordable ideas.

How will you use your extra day?

Have you ever wondered about leap year?

Here is a little FYI on the intercalary dayFebruary 29.

According to TimeAndDate.com

“if we didn’t add a day on February 29 nearly every 4 years, we would lose almost six hours off our calendar every year. After only 100 years, our calendar would be off by approximately 24 days!”

Who is responsible for this extra day?
Julius Caesar introduced Leap Years in the Roman empire over 2000 years ago.

What will you do with your extra day this year?
Some may take a day off to relax and enjoy some “me” time… others may take that day to get more done at work, while many will be glad to have an extra day before that bill is due. For the ones that have Leap Year birthdays, they will be celebrating their special unique day. What about you? How will you enjoy your extra day this year?

7 Secret Ways To Get Your Home Sold

Secret one: You must identify your selling goals

What motivates you to start a new chapter in your life? Why sell now? What are your concerns? Are you stressed about the financial or time burdens that selling might cause? To sell for the best price with the fewest worries, you need to know what your goals are… your financial goals, your time-frame, any family requirements, outstanding mortgages, the condition of the home, and your previous home-selling experiences

•             You want the most money you can get

•             As quickly as you can get it

•             With the fewest problems

Secret two: Know your local market and your competition

While many people complain that this is a tough real estate market, at its core, it’s no different from any other market.

•             Buyer’s market or seller’s market?

•             High interest rates or low interest rates?

•             Economy taking off or economy tanking?

Whatever the state of the economy, homeowners must always contend with current market conditions, good, bad, or average and make the necessary adjustments.

The average buyer views 11 homes before deciding on the one to purchase

You are competing against at least 10 other homes for that one buyer

Who Will Be The Winner?

The one who can bring out the details of a home in such a way as to entice the buyer to make an offer.

Secret three: Have a pricing strategy

Since new listings receive the most interest within the first 2 to 3 weeks, make sure you are priced right. If your house isn’t priced right, you’ll know it. Showings will drop off. Buyers won’t come back for a second look. Offers won’t come in. It’s not wise to test the waters to fish for a high price.  The right professional agent will have the tools and knowledge to show you what is happening in your local market. It helps to understand the following 3 things.

1. Open Market

The value of homes is determined by the open market and not by Realtors.

2. Seller Needs

Sellers have individual pricing needs as determined by personal issues.

3. Your Professional Real Estate Agent’s Job

Is to report to you the current market value of your home, allowing you the opportunity to compare it with your selling needs.

If you want to sell your home in the shortest amount of time with the highest offer, it needs to stand out above the competition and be priced below the competition.

Secret 4: A picture is worth MORE than a thousand words

Buyers are looking at hundreds of homes online before they even pick up the phone to ask an agent to show them the property.  Professional good quality photos of your home are critical to making it stand out from all the others.  Make sure you have professional photographs taken that highlight all the special features of your home and neighborhood.

Secret 5: Get social with your marketing

Everyone knows that the internet is where most home buyers are looking for their next home.  The local MLS is where all the available properties for sale are online for buyers and their agents.  Homes with professional videos get more attention than homes without.  Is your home on YouTube? Potential buyers will be on Youtube, Facebook, even Pinterest among other various national websites.  Of course proper signage in your yard and neighborhood are important, but marketing your home online is going to reach the most people the quickest. The other great place to market your home is with your neighbors… asking them would they like to pick their next neighbor! Word of mouth from your neighbors to their

Secret 6: Show it and make it outshine the others

Price Brings In Showings While Features Bring In Offers!

Your home is on the market, you’ve priced it right, now the calls come in for appointments to see it…

Let agents SHOW IT!

If you don’t make the property available with easy access, a lot of agents will not bother to show it. If they have to wait to long or come back another time, they will most likely move on the next home on the list.

Some agents just show a home to a buyer without feature discussion.  They walk through the home, waiting for the buyer to bring up questions.

Highlighting special details and features throughout the home with special feature cards will help people see what their agent may miss when showing them the home.

Your home has to SHINE! It must be freshly scrubbed, painted, updated, maintained and staged to stand out against the competition. Clear out the closets, garage and cabinets too. Pack it and store it to give your home the best advantage.

Secret 7: Know how to keep the deal together until the money’s in the bank.

So you have a contract… don’t think the money’s in the bank quite yet. In today’s lending atmosphere the tiniest of hiccups can derail your home sale.  Having the right professionals in place can be key in avoiding and managing any pitfalls along the way.  From home inspection issues to last minute lending hurdles, it pays to a skilled negotiator and networked professionals on your team.

Peace of Mind…

You have enough things to worry about already,  there are solid, dependable experts who get things done and can  handle all the details for you so you don’t waste your time.  You would not mind paying commission if you were absolutely certain that you were selling for the highest possible price and that all the details were being monitored.

If you are looking for a hassle-free home sale and a worry-free experience, call the experts. Contact us!

Remember it’s not about luck!

10 ways to show your home some love!

Everyone likes to be shown they’re loved. It’s what keeps relationships healthy. the same goes for loving our home. It needs to be shown a little love, too. Here are some ways to show your home that you really care.

1. Plan a date!

Every relationship needs nurturing and care. We have to make the time for the special people in our lives, it’s no different with our homes. Plan a date with your home to take care of the special things, from a deep cleaning, to a thorough  maintenance checkup or a specific remodeling project. Schedule it on your calendar and stick to it, even when you may get another offer that sounds better or like more fun, commit to the date and project. Your home will love you for it!

2. Take a quiz together

You’d probably rather be shopping, watching a game on T.V or giving the dog a bath, but keeping your home in good shape is important.  Taking good care of it with regular maintenance is vital to maintaining its value and ensuring it will provide a comfortable, safe shelter for you and your family, Do you know what temperature should your water heater be set? Take this home maintenance quiz that will test your maintenance knowledge and give you some simple answers and ideas for home maintenance.

3. Don’t be shy, turn on the lights!

Make some eco friendly updates. There are many ways to go green, one of the easiest is to start with the lighting in your home. Switching over to LED lighting can be costly upfront, but will save you money in the long run and be great for our enviorment. Here is a handy buyers guide that weighs the pros and cons of the different options available for light-bulbs.

4. Protect yourself

Did you know that the Combined Insurance Companies published a report on household accidents. It stated that there had been 37,000 motor-vehicle fatalities during that year, and believe it or not, there had been 31,500 accidental deaths in and around homes during the same period. They also said that about eighty percent of these household accidents were definitely preventable. From slippery bathtubs to loose hand rails, there are many things to  check for and simple fixes to make your home safer.
Check out this great advice from chapter 12 of of How to Take Care of Your Home

5. Air out the staleness

After a while every relationship can get a little stale. That’s why it’s important to breathe a little fresh air into it. The same goes for your home. Open all of the windows (a good way to see how they are working too, or if they may need a little maintenance) let in the fresh air for about 15 to 20 minutes each week. This will help clear out any stale odors and freshen things up.

6. Check out what the Jones’ are up to

It’s important to keep tabs on what the other homes in your neighborhood are up to. The value or your home can be directly affected by the other homes and their condition and upgrades. Your Realtor will be happy to give you a neighborhood snapshot of values and can also let you know what amenities/home upgrades that recent home sales show.

7. Renew and Improve

One of the best ways to show your home love is to keep it updated and maintained. Check out the Top 15 Home Updates from HGTV. Aside from enjoying your home with an updated kitchen, bath or bedroom, these improvements will help keep your homes value where it should be. It can be as simple as a fresh coat of paint or something more involved  such as a total kitchen remodel. Use this calculator to see what kind of payoff your project will have. Your  home will appreciate your efforts!

8. Remember the Small things

Sometimes it’s the smallest gestures that make a relationship sweet. Cleaning scuff marks off of the walls or baseboards or tightening any loose hinges on a loose kitchen cabinet door can be little ways to show your home some love. Maybe it’s just cleaning out one closet or drawer, it doesn’t have to be a grand gesture. Your home will love less clutter too. There are many ways to simplify things in your life and home, here are some great ideas from Real Simple.

9. Bring on the Bling

Who doesn’t like a new pair of shoes or a great sweater? Your home loves accessories too! New pillows, or an area rug are an easy start, fresh towels and linens are another way to add love and comfort to your home. Are your walls tired of the pictures on them? What about your mantle? You don’t have to buy new things to add bling to your home. You can repurpose items from the attic or other rooms in your home. You can swap with friends or hit local thrift stores too. For some cool ideas check out Pinterest 

10. Last by not least..Don’t forget the flowers!

Don’t you love getting flowers? Your home does too! Inside they brighten up a table or counter top, add color and lovely scent and they can accent your own unique style and design. You can keep them fresh for at least a week! Watch this video for great tips on how to keep your fresh flowers looking great. Outside they can bring life to a tired landscape. Flowers along a walkway or in pots by the front door create a welcoming feeling for you and your guest coming up to your home. Check out this Plant Guide at Better Homes and Gardens for ideas and inspiration. Flowers bring a smile and can brighten even the cloudiest of days.

To make a house a home, you have to add love…

“Where we love is home, home that our feet may leave, but not our hearts.”

`Oliver Wendell Homes

Free Coupons to Download for Family and Friends!>>

Here is a great little home maintenance  quiz to help you with some important things there are to know what to do for your home. It’s comes from the National Association of Builders

Home Maintenance

It’s the weekend and you have a whole list of household chores to do. Oh, we know you’d rather be golfing or playing tennis or watching TV, but keeping your home in good shape is important. Your home may be the biggest investment you will ever make. Taking good care of it with regular maintenance is necessary to maintain its value and ensure it will provide a comfortable, safe shelter for you and your family for a long time.

Here is a home maintenance quiz that will test your maintenance knowledge. While this quiz does not address every home maintenance project, it does provide helpful tips and reminders for chores you may have overlooked.
1. How often do forced-air furnace filters need to be changed?
At least every three months during the heating season.

2. What part of the faucet usually needs to be replaced when you have a water leak?
The washer.

3. Should you run hot or cold water through your garbage disposal?
Cold water.

4. How often should the moving parts of garage doors be oiled?
Every three months.

5. What tools can you use to unclog your drains?
A plunger and a plumber’s snake.

6. What tool can be used to unclog a toilet?
Coil spring-steel auger.

7. What faucet part needs to be cleaned every three to four months?
Aerator — the screen inside the end of the faucet.

8. What can you use for traction on icy sidewalks, steps and driveways?
Cat litter or sand — never use salt because it damages the pavement.

9. Where should the fire in your fireplace be built?
On the andirons or grate, never on the fireplace floor.

10. What will prevent soot and add color to the fire in your fireplace?
Throw in a handful of salt.

11. Where should your firewood be stored?
Outside, away from your house and not directly on the ground.

12. What helps keep unpainted concrete floors easy to keep clean?
Concrete sealer.

13. What should you use to clean unpainted concrete floors?
A solution of 4 to 6 tablespoons of washing soda in a gallon of hot water. Mix scouring powder to the solution for tough jobs.

14. When can you clean hardwood floors with water?
When the floors have a polyurethane finish.

15. Do hardwood floors need to be waxed?
Hardwood floors that do not have a polyurethane finish probably will need to be waxed periodically. Use liquid or paste “spirit” wax.

16. What is the best polish for vinyl floors?
Water emulsion wax.

17. When is basement condensation at its maximum?
In new homes because gallons of water went into the concrete of basement walls.

18. Why should noisy water pipes be fixed promptly?
The condition that causes noisy pipes may be accompanied by vibration that can cause fittings to loosen and leak.

19. Why should frozen pipes be thawed slowly?
Frozen pipes should be thawed slowly to prevent the formation of steam, which could  cause the pipe to burst.

20. How often should your roof be inspected?
A qualified roofer should inspect your roof every three years.

21. What should be regularly checked on your security system?
The alarms and circuit breakers should be checked to make sure they are in working order and the sensors should be inspected one by one.

22. To ensure your safety, what household equipment uses batteries that must be checked regularly to make sure they are operable?
Smoke and carbon monoxide detectors.

23. What do you use to fill nail holes and cracks in plaster walls and gypsum wallboard? 
Spackling.

24. What is the white powdery substance that develops on masonry walls?
Efflorescence sometimes appears on masonry walls. It is crystallized soluble salts that can be removed by scrubbing with water and a stiff brush.

25. At what temperature should your water heater be set?
120 degrees Fahrenheit

26. How often do skylights need to be inspected?
Skylights should be inspected each time your roof is inspected so leaks don’t develop from cracks and interruptions around its seals, caulking and flashings.

27. What is a simple solution you can use to wash extremely dirty exterior windows?
A solution of equal parts vinegar and water or 3 tablespoons of denatured alcohol per quart of warm water. Use a piece of crumpled newspaper to wash the glass to avoid lint left behind by papertowls.

28. What can you use to help a window slide easily?
Rub the channel with a piece of paraffin.

29. What should you look for when you inspect your siding yearly?
Determine if wood-sided homes need to be repainted; check to see if the caulking around the windows and doors has split and cracked, and replace the caulk; clean the mildew; trim shrubbery away so it does not touch the siding.

2011 Energy Tax Credits are not as much as they used to be, but there are still energy tax credits to be had for upgrades made in 2011.

if you upgraded to one or more of the following systems in 2011, you may be eligible to take a tax credit on your 2011 returns.

• Biomass stoves

• Heating, ventilation, air conditioning

• Insulation

• Roofs (metal and asphalt)

• Water heaters (non-solar)

• Windows, doors, and skylights

• Storm windows and doors

The energy tax credits are small, but at least a credit is better than a deduction:

• Deductions just reduce your taxable income.

• With a credit, you get a dollar-for-dollar reduction in your tax liability: If you get the $500 credit, you pay $500 less in taxes.

Brought to you by the National Association of Realtors^®

Read more…

If you are working with a Realtor in Alabama, your agent should talk about RECAD. What does it mean? Basically it is required by Alabama law to inform you the consumer that there are different ways a Realtor can work with you. The following is a detailed explanation of the different ways.

Alabama Real Estate Agency Disclosure (RECAD)

Alabama law requires you, the consumer, to be informed about the types of services which real estate licensees may perform. The purpose of this disclosure is to give you a summary of these services.

Alabama Real Estate Agency Disclosure (RECAD)
Rule 790-X-3-.13(1)
Real Estate Brokerage Services Disclosure

• A SINGLE AGENT is a licensee who represents only one party in a sale. That is, a single agent represents his or her client. The client may be either the seller or the buyer. A single agent must be completely loyal and faithful to the client.
• A SUB-AGENT is another agent/licensee who also represents only one party in a sale. A sub-agent helps the agent represent the same client. The client may be either the seller or the buyer. A sub-agent must be completely faithful to the client.
• A LIMITED CONSENSUAL DUAL AGENT is a licensee for both the buyer and the seller. This may only be done with the written, informed consent of all parties. This type of agent must also be loyal and faithful to the client, except where the duties owed to the clients conflict with one another.
• A TRANSACTION BROKER assists one or more parties, who are customers, in a sale. A transaction broker is not an agent and does not perform the same services as an agent.
• Alabama law imposes the following obligations on all real estate licensees to all parties, no matter what their relationship:

• · To provide services honestly and in good faith;
• · To exercise reasonable care and skill;
• · To keep confidential any information gained in confidence, unless disclosure is required by law or duty to a client, the information becomes public knowledge or disclosure is authorized in writing;
• · Present all offers promptly to the seller; Answer your questions completely and accurately.
• Further, even if you are working with a licensee who is not your agent,there are many things that the licensee may do to assist you. Some examples are:

• Provide information about the properties;
• Show properties;
• Assist in making a written offer;
• Provide information on financing.

Goodbye 2011 it was grand knowing you, hello 2012, let’s CELEBRATE!

Looking for a special way to ring in the new year? Here are just a few ways that the Huntsville area celebrates the New Year. dinner, dancing, or how about a 5K run? There’s something for everyone!

Huntsville Marriott

Blue Moon Ball: Offering two Grand Packages featuring the renowned band Kozmic Mama in the Grand Ballroom.
Packages $199 or $249.00 :

• Deluxe overnight accommodations for two
• Two Armbands to the festivities in our Grand Ballroom
•  $40,000 in gambling chips
•  Party favors
•   A champagne toast and continental breakfast at midnight
• Breakfast for two the next morning in from 7:00 AM-2:00 PM

For more info, call 256-830-2222.

Holiday Inn Downtown

Party at the Holiday Inn Downtown includes 3 New Year’s Eve Parties all at 1 Location Featuring:
Flasbacks
Juice
Ted Cannon’s Music Machine

$159 Package includes: One Night Stay, Access to all 3 parties and party favors, Midnight Champagne toast, New Year’s Day Breakfast Buffet for 2, 8am-2pm and Extended 3pm checkout
OR
Party ticket for $45 per person includes access to all 3 parties and party favors, plus midnight champagne toast.

There will also be a New Year Eve’s Prime Rib Buffet for $29.95 with Seating’s 6:00 pm & 7:30 pm call for reservations. 256-533-1400

Holiday Inn Research Park

New Years Free Pary
This year there is no cover charge to get into Hoppers, where the party will be hosted by a DJ. Hotel package is $99 for 1 night stay and breakfast next morning.
For reservations, call(256) 830-0600.

 Sammy T’s Music Hall

Sammy T’s and 104.3 WZYP present this year’s party. Come out for the biggest New Year’s Eve celebration in the south! DJ Keibot will start the night off at 9:30 and to ring in the New Year. $15 per person or $25 couple. Free glass of champagne & party favors at midnight. 116 Washington Street Huntsville. For more info, call 256-539-9974.

 New Year’s Eve Skate
Admission charged. 7 PM-1 AM at Benton H. Wilcoxon Ice Complex, 3185 Leeman Ferry Road Huntsville. Glide into the new year with cool music & lively merriment, including party favors. for more info, call (256) 883-3774.

Galaxy of Lights

Galaxy of Lights Drive-Through
Admission charged. 5:30-9 pm at Huntsville Botanical Garden, 4747 Bob Wallace Avenue. The largest holiday light show in the Tennessee Valley. A family oriented drive-through display featuring holiday themes, cartoon characters & fantasy creations. For more information, call (256) 830-4447.

Terrame’s New Year’s Eve Event

Admission charged. 9 pm-1 am at John Hunt Park, on the grounds of the old airport, Huntsville. Enjoy bringing in 2012 with Huntsville’s official New Year’s Eve ball drop, a spectacular fireworks show, great food & activities. Run or walk the certified 5k race or just stay warm inside enjoying the party with us as we celebrate the beginning of the New Year. For more info, call (256) 319-3003.

Pops Concert–Cinematic Celebrations

Admission charged. 7:30 pm at VBC Concert Hall, 700 Monroe Street Huntsville. Join the HSO on New Year’s Eve & celebrate with movie music by well-known cinematic composers. For more info, call (256) 539-4818.

Omega PSI PHI Bash

Admission charged. 8 pm at USSRC, 1 Tranquility Base Huntsville. Come & join the men of Omega Psi Phi as they celebrate 100 years of service, on New Year’s Eve. This will be a formal affair, with a live band, a DJ, Hors d’oeuvres & cash bar. All tickets must be purchased in advance. Tickets can be purchased at www.100yearsofomegapsiphi.com or from your favorite Omega man. For more info, call (256) 656-8651.

New Year’s Eve Gala

Admission charged. Cocktails & 7:30 PM, Dinner 8 PM & Music 9 P at VBC North Hall, 700 Monroe Street Huntsville. For more info, call (256) 650-1212.

12:01 The Party

Admission charged. 9 PM-1:30 AM at Historic Huntsville Depot, 320 Church Street Huntsville. The Downtown Forty-seven cordially invites you to enjoy hors d’oeuvres & midnight breakfast, complimentary beer & wine until 12:01 & a cash bar. There will be a DJ & dancing & a silent auction of original downtown Huntsville artworks. Cocktail attire is requested. Reserve your tickets online.

Yesterdays 2010 Rockin New Years Eve Variety Show — Athens

features a great dinner show including party hats and favors, a champagne toast (non-alcoholic) and balloon drop at midnight, and several live entertainment segments featuring “Top Tier” Band from Nashville Tn, with a wide variety of hits from the ’70′s, ’80′s, Disco and more. Also performing will be regional performer Brad Caswell and other special guests. Show tickets $20, available dinner $9.95 includes drink and dessert. Doors open 6 PM, Dinner begins at 7 PM, available until 8 PM, Showtime 8 PM, Reservations required, all seats reserved. T Reservations required at halldj99@hiwaay.net or call (256) 232-2506.

For more visit the About Huntsville Guide

What’s in Store for Housing in 2012?

If you are one of the many people looking to sell or buy a home in 2012 but not sure if it’s the right time, this information from Kiplinger may help! Of course our local market is different from the national scene, so be sure to hire the right Realtor®. to have the most current local information that will benefit you.

DAILY REAL ESTATE NEWS | WEDNESDAY, DECEMBER 28, 2011

The worst for the housing market may finally be over, according to housing experts in a recent article in Kiplinger. After median home price have dropped nearly 40 percent nationwide, a rebound is taking shape — although, housing experts say, the market may stay flat for awhile before gradually ticking up.

According to housing experts in a recent Kiplinger article, here are some predictions for the real estate market in the coming year:

Home prices stabilize: Mark Zandi, chief economist at Moody’s Analytics, predicts that home prices nationwide may still drop another 3 to 5 percent in 2012, but the new year will most likely finally bring a leveling off of home prices before gains start to take shape in 2013. When markets do begin to stabilize in the new year, “price appreciation tends to spread unevenly, creating a lot of confusion about where the recovery is occurring and when,” David Stiff, chief economist at Fiserv Case-Shiller, told Kiplinger. “Even within a single city, more desirable neighborhoods will stabilize first, while prices in other neighborhoods may fall at a rapid pace.”

Housing affordability high: Housing affordability — the ratio of median home prices to median family income — will likely remain at record levels in 2012. Homes in many cities are “substantially undervalued,” the Kiplinger article notes. That may even lead to a mini bubble with double-digit spikes in prices, such as an increase of 10 to 15 percent in a given year in some markets, housing experts say.

Low mortgage rates: Helping to keep affordability high, low mortgage rates are expected to continue on in 2012 — at least the first part of the year, economists predict. The 30-year fixed-rate mortgage, the most popular among home buyers, has been hovering under a 4-percent average the past few weeks, staying in record low territory. Rates are expected to stay between 4 to 5 percent in 2012, predicts Guy Cecala, publisher of Inside Mortgage Finance, an industry publication.

Sales increases: The National Association of REALTORS^® has already been showing a tick up in sales taking shape with increases in existing-home sales during the summer and early fall of 2011. High inventories of homes continue to flood the market but a drastic slowdown in new-home building the past three years is “gradually easing the surplus,” the Kiplinger article notes.

Foreclosures: Foreclosures remain the problem and still plague many markets. After a slowdown with lenders processing the paperwork, foreclosures have began to pick up once again. About 1.84 million home loans are 90 days or more delinquent and 2.17 million have finished the foreclosure process but aren’t up for sale yet, according to RealtyTrac data. Alex Villacorta, director of research and analytics at Clear Capital, told Kiplinger that he predicts regardless of the downward price pressure caused from foreclosures, overall home prices won’t fall as long as lenders bring additional foreclosures to the housing market at a steady pace.

Source: “What’s Ahead for Home Prices in 2012,” Kiplinger (January 2012)