ALL IS NOT LOST!

Little reporting in real estate has not been good for the past few weeks. Most if not all of the reporting has been extremely negative. It now is beginning to sound like the dregs of the market in 2008. It may make you feel like you may never be able to purchase a house if you have been thinking of purchasing a home. It may also feel like, as a homeowner, you will never to be able to sell your home. Neither of these feelings translate into what is really occurring in today’s market.

If you are a potential homebuyer, here are the facts: 1) mortgage rates, while higher, are not shooting through the roof. In fact, while they are higher than they were a year or two ago, they are around the historical average rate over many many years 2) home prices are remaining high and possibly out of reach. Prices are higher to be sure, but they are well off the highs, many price reductions are seen every day 3) the inventory is low. In fact, the inventory is growing and there are a large number of homes available today and the number is growing. The addition of homes for sale now outstrips the number of people looking for them. This is good for the homebuyer.

If you are a home seller or thinking about selling, here is what you hear from the national reporting. 1)home prices are dropping. Again, to be sure prices are a little lower but they are not crashing. Most homes are selling lower than the asking price for 2 reasons. a) Homes on market for extended times and not moved the asking price with the market look to be well overpriced today when in fact they may have been fairly priced at the time they went on to market. b) homes on market recently may have had offer close to the asking price but the terms of the contract were not optimal for the potential buyer. 2) the condition of the home has not had such a major impact on selling a home that I can remember. Indoors needs to be in as clean and clear condition as possible in order to obtain a higher price of to get an offer at

So to be sure things change a lot and these conditions will not last forever. As we watch the economy go through its gyrations we must remember, people move all the time. The condition of the economy is not an item of concern unless income is a problem. Timing can be as issue but there is much a family or an individual ca do to prepare for a move in the future. The conditions today are factual and are not the optimum conditions in which we live. Remembering that things can improve or grow worse, the decision to wait is often an ill-timed decision. It sounds trite but things more likely can get worse than improve. Additionally, waiting to act in the real estate market will cost you in an economic sense.

I am free to speak with you at any time. Please feel at ease to contact me at 925-382-9771 or john.case@corcoranicon. com or 512-772-6293 or johnacase@stanberry.com any time. I am truly looking forward to your call.

John Case is a Broker Associate with Corcoran Icon Properties (CA) & Stanberry Realtors (TX)

He has dealt with all aspects of Real Estate during his career and can answer any question that you may have regarding your home.

CalDRE Lic:00622378

He is also the editor of the East Contra County Real Estate Economic Report. He works with his wife Diana in Brentwood. They can be reached at 925-382-9771 or by email at johnacase@stanberry.com

5 Tyler Ct. Danville, CA

PRESENTED BY:

This absolutely GORGEOUS HOME is located in the heart of Danville. Minutes from downtown, 680 HWY access & Mount Diablo. It features 4 bedrooms, 3½ bathrooms, den, formal living and dining rooms., open family room and kitchen. Beautiful upgrades include: Stainless steel KitchenAid Appliances w/built-in fridge & beverage center, flooring, countertops & backsplash. White cabinets w/Restoration Hardware knobs and handles, as well as RH light fixtures. Fireplace in formal living and family room. Epoxied garage flooring. Hunter Douglas window treatments. Built-in entertainment center. One of the bedrooms was turned into gym w/commercial grade rubber flooring and mirrored wall. Solar panels. The backyard is float lot and blank canvas. Build the backyard of your DREAMS.

By Patrick McCarran Broker

In this current market when multiple offers is the norm and each buyer is looking to make their offer the strongest and most appealing. Having inpsect5ions and disclosures available for buyers allows the buyer to be informed and reduce negotiating of repairs and possible shorten contingency timeframes. This practice is common in many metropolitan areas.

Getting preinspections offers many key advantages to sellers that you may not be aware of. Having inspections before your house goes on the market ensures that you’ll find out the exact condition of your home, which makes setting a price much easier and whether to list “as-is” or do the repairs for a better return.

I recommend starting with three basic inspections, a general home inspection, a termite and wood destroying pest inspection, and a roof inspection. These are the primary inspections and should provide a clear picture of the condition of your home. If there are any major issues you can hire a specialized inspection such as plumbing, roof or HVAC . Knowing what repairs are needed and knowing the cost will also help you have a good estimate of the bottom line when you sell.

One of the biggest unknowns or variables is that once a buyer has the home inspected, something will be discovered that may kill the sale. This concern is undoubtedly justified as the home inspection is often the point where sales fall apart –leaving the seller to start all over again to find a new buyer. Not knowing if there is something wrong with your home often adds a lot of stress to the sales process. Selling your home is never easy. Worrying that the sale will fall through because of something that turns up during an inspection can only add to the anxiety of the escrow process.

By having pre-inspections done, you can feel much more confident about the current condition of your home. This also allows you set your own schedule for repairs. There is