When you sell your own house, do everything you can to find ways to appeal to 1st time home buyers!

They are the most active buying group in real estate these days, and with the extension of the $8,000 federal tax credit for 1st time home buyers, they will remain among the best buyers to target for at least the next 6 months!

To your success!
L.J.

Posted via web from Sell Home Fast Info’s posterous

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updated 1:13 p.m. ET Nov. 15, 2009

 SAN DIEGO – The U.S. housing market welcomed a bigger share of first-time buyers and single women this past year, while a majority of sellers resorted to dialing down prices to get their homes sold, a new homebuyer survey shows.

 First-time buyers accounted for a record 47 percent of U.S. home sales between July 2008 and June this year, up from 41 percent in the prior-year period, according to the survey conducted by the National Association of Realtors.

The annual survey gleans details on everything from how buyers came up with down payments to how long it took sellers to unload their homes. The latest results were derived from more than 9,000 responses, the trade association said.

Home sales and prices have shown some signs of stabilizing this year, and the survey results affirm the market continued to favor buyers, particularly first-timers.

“Tax incentives, record high affordability conditions and a pent-up demand brought a record share of first-time home buyers into the market,” said Paul Bishop, the trade association’s vice president of research.

First-time homebuyers this year have been able to take advantage of a tax credit of up to $8,000 meant to entice new homebuyers to enter the market.

Congress extended the tax incentive through next June, as long as the buyer signs a binding contract by the end of April. The program also was expanded to include a $6,500 credit for existing homeowners who buy a new place after living in their current residence for at least five years.

First-time buyers had a median age of 30 and reported a median income of $61,600, the survey shows. The typical first-time buyer paid $156,000 for their home, about $9,000 less than in the Realtors’ 2008 survey.

Repeat buyers were typically a few years older, 48, and earned a bit more than first-timers: $88,100. They also said they planned to stay in the home for 12 years.

Sellers had to go the extra mile to sell their homes, with 52 percent offering incentives like paying for closing costs. They also lowered prices.

The typical home sold for 95 percent of the original listing price, the survey shows.

Still, many sellers came out ahead. The median amount over the price sellers originally paid for their home was $36,000.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Technorati Tags: 1st time home buyers, buyer incentives, first time buyers, for sale by owner, forsale by owner, fsbo, Sell Home Fast, Sell Own House

Wow!  Is it any wonder we talk so much about preparing (by cleaning, de-cluttering, and staging) before trying to sell your own home?

HomeGain recently conducted a new survey of top 12 low cost, do-it-yourself (DIY) home improvements for people getting their home ready to sell.  Nearly 1,000 REALTORS® responded to the survey.

The top five nationwide home improvements that Realtors recommend to home sellers, based on average cost and return on investment (ROI) to sellers, are:

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI / 98% recommended)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI / 82% recommended)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI / 95% recommended)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI / 94% recommended)
5. Repair Plumbing ($385 cost / $1,250 price increase / 327% ROI / 88% recommended)

Source: http://blog.homegain.com/home-improvement/

Posted via email from Sell Home Fast Info’s posterous

Technorati Tags: de-clutter, declutter, for sale by owner, forsale by owner, fsbo, Sell Home Fast, Sell Own House, staging

Yup…you guessed it! One of the 5 major reasons your house isn’t selling might be the pictures you are using!  As our post  just a few days ago pointed out, if you want to sell own house and sell it fast, you better have great pictures !!  (NOT like this one!)

Posted via web from Sell Home Fast Info’s posterous

Technorati Tags: for sale by owner, fsbo, Sell Home Fast, Sell Own House