FIVE POSITIVE MONTHS

Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003. Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said. “Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30.”

Source: National Association of Realtors Newsletter, August 14, 2009

Tips for Getting a Good Appraisal

Appraisals can be tricky these days. Here’s some advice from Maureen Sweeney, a Chicago-area owner of an appraisal firm, on getting an accurate and fair appraisal:


Both the real estate practitioner and the owner should be present for the appraisal and follow the appraiser around. Make sure he doesn’t miss anything important.

Ask questions to determine if the appraiser has identified the correct neighborhood boundaries and if she’s comparing the home to similar properties.

Bring a copy of a recent tax bill and a survey of the property, and give them to the appraiser.

Provide a list of improvements to the home.

Your real estate professional should offer their opinion about what makes this property worth more than other properties in the area.

Source: Chicago Tribune, Mary Umberger (08/02/2009)

6 Reasons Houses Don't Sell

• Why do some houses sell and others don’t? There’s no ultimate answer to this question, but Tribune Media Services columnist Ilyce Glink has a theory. Here are her six top reasons properties linger on the market:
  

Lousy pictures on the Web.
Priced too high for the neighborhood.
Blah interior; ho-hum landscaping.
Little online marketing and hard-to-find MLS listings.
Low commissions. Practitioners make sure their customers see properties that offer a payoff.
Miserable maintenance, including ceiling stains, leaky faucets, and ancient furnaces.
Source: Tribune Media Services, Ilyce Glink (8/2/2009)

Have some of these problems currently? Don't despair. Let me look at your home and make suggestions for getting your home show-ready. Sprucing up and staging your home really does work! The Real Estate Cowgirl can show you how to bling out your home. Blinging sells!

Welcome to The NO BULL Blog on Real Estate

Venturing out into the land of blogging! Hope to provide you with lots of stuff you can use to make good real estate decisions. We'll follow market conditions so that you'll know when it's wise to leap, or wiser to hold what you've got! Happy to answer any real estate questions you may have, as well. If I don't know the answer, I'll find out. If there's a real estate topic that you'd like to see more about, please let me know. The REAL ESTATE COWGIRL is here to serve, and that's NO BULL!