Keller Williams Red Day - May 14, 2009

Keller Williams Realty offices across the US and Canada will be reaching out to their communities on May 14, 2009 for R.E.D. Day.

The Columbia, SC market center will be conducting a food drive with the help of local grocery store chains. Please come out and support your community and donate.

For more information on the Columbia, SC area R.E.D. Day check out www.YourBigWhy.net.

This Month In Real Estate (US): April US

Things are starting to look up as home sales are on the rise and optimism is growing about the real estate market.

Just remember that each local market is going to be different than the next, so check with a REALTOR, your local real estate expert, to find out more about buying and selling a home in your market.

In the Columbia, Lexington, Irmo, Chapin, SC area, call me or visit my website, www.HomeInColumbia.com, to learn more.

Thanks,
Greg

A Fresh and New Perspective

In a time where things look grim to many I now have a fresh new perspective as I welcomed my 3rd daughter into the world earlier this week.

Piper Louise was born on April 7th at 3:37pm. She weighed in at 8 lbs 4.7 oz. and measured 19 3/4 inches long. Most importantly, she reminded me of why I get up each morning. When lack of activity in the real estate market beats down on my moral, I am reminded that my motivation is deeper than any market stats the news media can flash on the TV. I know that there are 3 little girls at home that look up to me and depend on me to provide for them. They think that there daddy is the best "house seller" there is and who am I to disagree with them.

As the Spring brings in new blossoms, I have a new focus and feel rejuvenated with offers coming in and new prospects on the horizon. But most of all I have a new addition to my big why.

Hopefully I am not the only REALTOR seeing an increase in activity lately. I also know that regardless of what type of business you're in, if you don't have a "big why" to keep you focused and motivated that you need to find one. Just don't let it be about the money.

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Piper Louise born at 3:37 pm.
Sent from my Verizon Wireless BlackBerry

Posted via Pixelpipe.

This Month in Real Estate (US): March 2009

Changes in the First Time Home buyer Tax Credit. This really benefits buyers.

This Month In Real Estate (US): February 2009

A rise in home sales! The greatest increases have come from the states that have been hit the hardest. It only makes sense that these states will lead the home market turn around. Check out the video.

5 Reasons to buy a home right now.

I recently read an article, 5 Reasons buying a home in 2009 is a bad idea, whose author gave 5 reasons not to buy a home right now. It is this type of negative publicity that is making these difficult timeseven tougher on the economy. The same article projects the market to continue to slump for another 18-24 months. If everyone shared the author's negative view, I could see why it would take so long for the economy to recover. Those thoughts sound to me as if the author has her finger on the panic button. The real problem is that the public perception and consumer confidence has been severely diminished by the negative media that is being dished out.

Let's look at this from a different angle. What if I told you that the economy was in the toilet and instead of suggesting that we try to stimulate or revive it, I reccomend that we all hunker down and wait it out. Everyone should just stop spending money as much as possible or at least until merchants and service providers start giving everything away. We should all go back to the days when people raised livestock, grew their own vegetables and made their own clothes. How many jobs would that save? How many marriages?...How many lives? Well, I don't think it would do much to help the economy either.

With that said, allow me to offer my real world perspective and give you 5 reasons you should buy a home, right now.

1. Mortgage rates are near record lows. - Waiting to see if home prices will drop any further may increase the risk of mortgage rates creeping up higher. A rate increase of 1% can be the same as adding $10,000 to the purchase price of a new home. Considering median prices in most areas vary from $150,000 to $200,000, you would need to expect another 5-7.5% reduction or more in home prices to benefit should the rates go up a full percent between now and the time you decide to buy.
   
2. How low will they go? - Some markets are already much lower than they were a couple of years ago. Keep in mind that these are the same markets that saw huge increases before the housing bubble burst. In fact, home prices are back in line with where they should be if you take in to account a steady growth rate of appreciation. The housing bubble caused a spike in the normal growth rate and eventually led to the severe downturn we are experiencing now. But is it really a downturn or a righting of the ship, putting us back on the course we should have been on all along. Take a look at this graph and decide for yourself.Real Estate market Growth Chart.



3. Timing is Everything - The person who wrote the article suggests the best strategy is to wait until the market has bottomed out before making your move. Good advice except for the fact that, unless you're a pyschic, no one knows when the market has hit bottom until it starts rising up again. By then it's too late and you've missed it. The chart below illustrates market trends. The "safe zone" represents a favorable time to buy. The "lucky zone" is ideal, but if you notice the point that you realize these zones are after the market has shifted. I believe a few market places may be within or close to a "lucky zone." right now.



4. Choices, choices, choices - Given the decline in homes being bought and a steady increase of homes on the market, the choices available are mind-blowing. In a sellers market, there is usually not much to choose from, therefore they can ask for more money. In today's buyer's market you can have your pick. You will find plenty of homes in top condition with lots of extras in desirable locations and at very reasonable prices. What more could you ask for?
   
5. Help your fellow citizen - The government knows that the best way to stimulate the economy is to get people to spend money. This will create a domino effect that will allow retailers, manufacturers and others to create jobs, thus put more money into the economy. It's a cycle. The same with housing. There are many homeowners out there that are struggling financially and need to sell their current homes in order to free up their own cash flow, reduce debt or relocate to a new job. By buying one of these homes you would be, in part, stimulating the economy. How cool is that to take part in the American dream and help out at the same time?
   

Although it may sound like I am attacking the article that gave reasons not to buy, in all fairness, the same author wrote a similar article: 5 reasons buying a home now is a wise move.

It's a buyer's market. Why aren't you buying? What are you waiting for?

Regardless of your season of life, there are good honest REALTORS that would love to help you realize your dreams of owning a home. I am one of those REALTORS and I put the "real" back in real estate. I service many parts of South Carolina, however if you are not in my area please keep in mind that part of my job is putting people all across the United States and Canada in touch with a real estate agent that will provide honest, dependable service. Whether you or someone you know is thinking of buying or selling a home. Call me first.

Greg Worley
Broker, REALTOR
Keller Williams Realty
Columbia, SC
www.HomeInColumbia.com