Trends and Tips

What does a .5% Federal Reserve rate cut mean to real estate?

If the long bond rate follows that will effect mortgage interest rates trending downward as well. The greater effect on the housing market is consumer confidence. In 1990 to 1992 when jobs were insecure the real estate market was stagnant. Interest rates were under 10% for the first time in a long while and houses took a good six months to sell.

It wasn’t about the interest rate; it was about the overall economy. Since today’s economy is strong we should be able to ride this Subprime Storm to a soft landing. What higher rates do affect is the price buyers are willing to pay.

For Sellers, this means a sharp pencil to price within 5% of a reasonable sale price and a house in perfect order.

Step One is Curb Appeal. Trim hedges, plant flowers or put out pots of flowers. Paint and polish the front door and invite the buyers in!

Step Two is Less Is More. This applies to rooms as well as closets and storage spaces. Need an organizer? Need a stage? Call me.

Step Three is Call Me to review those comparable sales and the active competition in your marketplace.

Step Four is Sign on with Pat Geoghegan, pgeoghegan@houlihanlawrence.com, for the best marketing in the area.

From The Rye Record to Google and Yahoo, we are the Number One Office in this area for marketing and sales.