In our previous commentary we talked about what’s happening in the Real Estate Market. Not to be forgotten is all real estate markets are local. What’s happening in the Cleveland market isn’t the same as our’s the Raleigh area.

Now not to be discouraged, there is a solution to the madness; and believe it or not, there is a pricing strategy that works almost every time to get homes sold fast at a great price… and that is to price your home low and the the demand the low price creates raise the final selling price.

If you’re observant, you” notice that foreclosures are getting a lot of buyer activity..now why is that?

It’s simply because buyers view them as a deal; and as one person put, if they think they buy one, they’ll pay a wholesale price rather than a retail price..even if such is not the case.

Price your home like the banks do( 5-10 percent below everyone else) and get the demand o drive the your price up.  If you don’t, you’ll be taking your chances with everyone else and will most likely sell your home for 5-10% below market value anyway, because almost every buyer is low-balling prices.

The media today overwhelms us with some much data. Where is one to turn? What you don’t know about the housing market WILL hurt you…not the other way around.. It’s true; these trends may affect you differently, depending upon your situation. For example, if you have equity in your home, you’ll need to know what’s happening so you don’t lose it; but if you owe more money for your home than it’s worth or you’re facing foreclosure, you’ll need to understand these trends so you can avoid having the banks control your destiny.

So with that being said, let’s dig into whats going on in the housing market and learn how to avoid the dangerous trends that could keep your home from being sold. Everyone knows the housing market is in rough shape right? You know it, I know it, your neighbor knows it, and practically everybody else knows it, too.

Rather than ignoring what’s going on, lets study it and see how we can overcome some of the challenges it present. Don’t you agree, it’s better to take the proactive approach rather than be someone who sits around, ignores it and blames the economy for their home not selling?

Look for our second installment soon

Jeff Dicks furthers career with prestigious Certified Foreclosure Agent professional training course offered through Agent University.

                                                                                                       Immediate Release

Raleigh, North Carolina  27609

Jeff Dicks of Coldwell Banker Howard Perry & Walston has successfully completed the comprehensive Certified Foreclosure Agent specialist training course offered through Foreclosure.com, earning a prestigious designation that is reserved for the top real estate professionals in the industry.

” The Certified Foreclosure Agent Specialist distinction among Realtors is an indication to the professional community that  Jeff Dicks has met the rigorous standards of professionalism,expertise,objectivity and integrity in the field of distressed property and related consulting disciplines,” said Foreclosure.com Director of Education,Linda Yates.

Dicks joins the growing ranks of trained foreclosure-selling agents nationwide who are moving more properties more often despite soft market conditions. In fact, distressed real estate sales, which include foreclosures and short sales, are big business in today’s current market, accounting for 35 to 40 percent of transactions in the second quarter of 2009, according to the National Association of Realtors (NAR).

And the Certified Foreclosure Agent program- with it’s intensive training and testing process-is leading charge to educate agents, as well as connect with multiple buyers in their areas.

To embark on the career-changing journey, prospective applicants must first be licensed Realtors in their respective states. Implicit in this requirement is that the Certified Foreclosure Agent maintain at least a minimum number of hours of Continuing Professional Education(CPE) each year and conduct him or herself within the ethical mandates established by the profession.

Foreclosure.com also requires Certified Foreclosure Agent’s to obtain at least 12 hours of CPE each year in areas related to distressed property and/or foreclosure investing.

More recently, and ever growing we face the challenges of closing transactions in the Triangle due to the rising trend of Short Sales. Foreclosure properties having been in a short sale position is also trending higher.

A recent survey by a well respected market prognosticator for the Wake County real estate markets staed of the 41 market segments at 300k in the area, only 4 a balanced supply/demand. 37 of those had an 11month supply and prices are seen as going lower.

So, what does all this mean for the homebuyer and seller? No, different than buying stocks market timing is nearly impossible. The market bottoms and then prices rise to be simply put. When this will occur is anyone’s guess.

The fearless should be cautious and the cautious fearless. The bottom line is their are plenty of bargains for those whom couldn’t get into the housing market a few years back. Now is your opportunity. Sellers have to be realistic about their expectations. Recently, I was looking at a home for my buyer priced at 269k and the same floorplan and several sales in the area was showing this home to be valued more like 229k.

Now that’s are haircut. Mr. Buyer wants to pay the lower and Mr. Seller waits ……and more and more frequently I’m seeing these sellers finally give up and give the keys back to the bank.

The good news is were seeing an emergence of networks beginning to move in and assist both the lender and seller for a reasonable resolution and the seller can still leave their home with some dignity intact.

If your selling your home and your facing many uncertainties, contact a professional Real Estate Agent with the credentials to manage and has a network of professionals to navigate the transaction successfully.

Jeff Dicks 

Certified Foreclosure Agent