Instead of guessing about the income needed for someone to buy your home, have your favorite lender print up a flyer giving 3 different ways the buyer can finance.  I have done this for years and it is amazing how many times a seller has said something along the lines of: “It is amazing that someone could put $120,000 down on my house and their payment is over $3,000 per month…who can afford that?”  This might help adjust your expectations to be more realistic.  For lending information and assistance, go to www.equity-home.com.

If you have a question about a legal issue, you will need to consult with an attorney.  Do not rely on your real estate agent for legal issues…they are licensed and educated in REAL ESTATE!

If you have a question about the tax ramifications of selling your property, you need to talk to an accountant. Do not rely on your real estate agent…they are qualified in REAL ESTATE, not accounting!

In July of 2002 if new listings were to cease, it would take 4.7 months to sell all the houses at the then rate of sales.  In July 2007, it would take 30 DAYS LONGER THAN THAT! Yup, it would take 5.7 months to sell all of our listings at the current rate of sales.  TERRIBLE!  We have almost 1/3 more homes to sell than we did five years ago! 

Look at closed sales for the year to date for July 2002 at 2,337 vs. 2,624 for July of this year!  THAT IS A 12% INCREASE IN SALES!  THAT IS TERRIBLE!  Wait A minute…a sales increase is actually a good thing. 

In July of 2002 the average market time was 61 days.  The average market time this past July was 52 days!  THAT IS TERRIBLE! 

Appreciation must be TERRIBLE!  In the market we are in, prices are dropping like a rock!  For example, our office does a lot of business in Hillsboro/Forest Grove, and the annual appreciation rate year to date in 2002 was 5.7%.  This year, for the same time period, it dropped clear down to 10.8%.  Isn’t that UP almost double?  In Gresham, the appreciation rate went from 1.2% to 12.7%.  What a travesty!  The Regional Multiple Listing Service (RMLS) showed three areas in July of 2002 that had negative appreciation, and none in 2007.

We are in a state of emergency in this country regarding foreclosures.  They are at an all time high.  Well, they are at an all time high in Illinois, Michigan, California, Colorado, Arizona and Florida.  In our area, foreclosures are actually down.  Foreclosure rates in

 I don’t pretend to ignore the fact that the real estate market is much different today than it was a couple of years ago.  Financing is more difficult.  The real estate market is and always will be very cyclical in nature. 

The problems in the early 1980’s were much different.  High interest rates (12% to 18%) were prevalent.  Unemployment was high.  Today we have good employment, a bustling economy and low interest rates. 

While we face a different set of problems today, they are not yet, and probably won’t become overwhelming…unless you let them, and that would be TERRIBLE!

If you don’t have a safe deposit box, get one.  Store your valuables there that you can fit.  If you have valuables that won’t fit in the box such as a stamp collection, rare books, or those lovely porcelain commodes from Austria, find a place to store them securely.  Perhaps at a neighbor or relative’s home, or in your PODS.

If you take any type of ‘feel good’ medication, keep only a very small amount in the bathroom and hide the rest.

Have your REALTOR^® place a lockbox on your house.  You need to have it ready to be shown nearly 24/7.   If a REALTOR^® with a buyer has a choice of showing a house that is easily accessible, versus one that is difficult to show, which one do you think gets shown?

Provide a Home Warranty for the buyer.  You will save yourself a lot of potential headaches after the sale for a very low amount.   If the furnace doesn’t work when the buyer turns it on this Fall, think of how much money you saved by including this simple warranty.  Go towww.ahswarranty.com and learn more. 

More next week…

Be honest…Is your house (at least partially) a mess? Cluttered? Landscaping overgrown? Inside need paint? Front steps, porch and door look dull? Go to www.3stepstosold.com and order the very simple and pleasant DVD to help with ideas of what needs to be done. Or, ask your real estate professional for resources for “staging” your home for sale.

Your roof, gutters and windows all need to be cleaned.  The roof is a large percentage of the view of the house from the street. A neglected roof and overflowing gutters can be yelling at a potential buyer:  “If you think I look bad, wait until you see the inside!”

Here is a tricky one:  Animal excretion smells.  I don’t care if YOU can’t smell it. Cats, dogs, birds and even Willie the Ferret create unpleasant odors to those who are not used to them. While your home is on the market, it should be a ‘Pet Free’ zone.

A garage is for cars.  It is not a storage area for all the stuff you don’t currently (and probably never will) use again. Go rent a ‘POD’.  It is a huge box into which you can put all your old skis, couches, snow tires, golf clubs and bicycles with flat tires. You can find information at www.pods.com. You lock the box and the PODS company hauls it away and stores it.  Wish I had thought of that idea. The garage will look larger with all the stuff out. The front of the house will look better without your cars (that you could never fit in the garage) in the driveway. The buyers will now be able to get an idea of how much of THEIR ‘stuff’ they can fit into the garage.

More next week…

You should have a prelisting inspection.  Also, repair or replace any of the larger items on the inspection report. Doesn’t it make sense for you to take care of any problems with the home before you agree with a buyer on a sales price?  Costs too much?  A $300 home inspection can actually make the seller money.  Do you have to replace the dry rot in the deck?  Bet you can get it done for less when you have time to get several contractor bids and the contractor doesn’t need to have the work finished in 6 days. 

LP siding? Replace it! The buyer is just going to subtract the cost of replacing the LP siding from your price anyway.  As a bonus, your house will look almost new with freshly painted siding, and perhaps smooth along the selling process.

Do you have an underground oil tank?  Get it decommissioned and the soil tested now!

More next week…