Current Economic Conditions call for Buyers to ACT QUICKLY!

As a real estate broker, I am constantly asked how the market is being affected by the current economic conditions.  I love this question as it gives me the opportunity to give first hand information from someone who works this field on a daily basis.  With a smile, I am quick to tell people how lucky we are in the Capital Region.  Our home prices have not dropped dramatically and values are excellent compared to other areas of the country.  This is an exciting time for people who are in the financial position to purchase a home.  First time home buyers have the $8000 tax credit available and the mortgage rates are hovering between 5 and 6%; which is incredible compared to years past.  My first home was purchased at 14%, who knew it could be this good?!   People who are looking to sell, should list their homes right away.  Buyers are shopping with pre-approval letters in hand as they want to meet the December 1st closing deadline.  Strategically placing your house on the market with a great agent at the right price point and the right marketing plan, will cause your house to sell.  The next positive affect will be the "trickle up" theory.  As 1st time home buyers buy in their price range, it will free up the next level to purchase at higher price points.  If we act intelligently and responsibly with an educated strategy, the current economic situation will work in our favor.  Times have changed and that can be a good thing.  Keep the tools from the past that work, but add the modern technology to take real estate to the next levelAlways remember a positive attitude goes a long way!

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