Don't Let Negative Press Get you Down!

Lately, it seems the media been running so many negative stories about the housing market. These articles were mostly based on housing sales numbers from July. As you know, the federal tax credits expired the end of June, causing an all time high for closings. So the huge bubble in June caused a natural run down in closings in July and August. The media also neglected to report that prices for the fourth straight month had gone up nationally.



So, lots of negative news from the media, but things look positive from my vantage point. Our Howard Hanna Pepper Pike office is on a roll! When you look at our 2010 activity compared to 2009 -- we are higher in everything--units, volume, higher average prices. For example, average closed price in 2009 was $307,366 but our average YTD is $310, 259. We listed 273 homes at this time last year; 340 this year. And we've closed 269 homes, versus 227 at this time last year. Call me if you need a dose of positive news to offset the depresssing media!

New Real Estate Sales Tax - Fact or Fiction?

Have you heard the rumors of the alleged real estate sales tax, supposedly part of the new health care bill? Word on the street is the new tax will make all real estate transaction subject to a 3.8% sales tax.

Rest assured, this rumor is NOT TRUE! The health care legislation does contain a variety of new taxes and one of them can be influenced under certain circumstances by a sale of real estate. But it's pretty complicated and unlikely to affect most real estate transactions.

Home Sales Up!

Have you noticed? Signs of recovery in the housing market and the economy keep popping up! April was an incredibly busy month for home sales...my lack of blogging is evidence of just how crazy things were for me!

The National Association of Realtors reported that pending home sales jumped 8.2% for the month and were 17% higher than they were at the same time last year.

Although the tax credits drove a lot of the activity, we're still bullish on the real estate marketplace. The spring market, relatively low interest rates, and stabilized prices will help the surge continue. Here's hoping...

What's Important to Me

Loving my new real estate career! I am fortunate to have so many wonderful clients who've put their trust in me. Whether it's buyers looking for their new home, or sellers who've asked me to market their biggest asset, I am so grateful!

As much as I love what I do, what's most important to me is my family. Launching a business combined with the CRAZY spring market has left me little time to spend with my husband and children.

A recent vacation to St. Martin was just what we needed. Left the cell phone at home, tried not to check email, and just chilled out. Bonus was sharing a villa with two families that we love dearly! Fun in the sun with my peeps....what could be better?!

Looking for a Good Painter?

Try Bob Siguler of R. Siguler & Son. Bob recently removed wallpaper, repaired walls and painted my Easton Lane listing. He did a fabulous job! He's fast, responsive, reasonably priced, and does quality work. Plus, he's easy to work with.

Call him at 440-248-4351 or 216-970-3843 (cell).

Home Sales Take Big Fat Leap

Good news in the world of real estate. USA Today Money reports that home sales posted strong gains in the fourth quarter and prices rose nearly 45% compared with a year earlier. They see this as evidence of an improving climate in housing. Yippee!

A reason for the gains? Low interest rates and the first-time home buyer tax credit. "There's a growing body of evidence that the housing market has stabilized," says the chief global economist from the Economic Outlook Group. He thinks that these same factors could further stabilize prices and boost sales. Let's hope he's right!

What makes a house sell or sit?

I've often wondered what makes a house SELL or SIT? As a Howard Hanna real estate agent, I tour lots of homes each week. Sometimes they sell, sometimes they don't. Usually it's obvious why a home doesn't sell -- priced too high, bad condition, poor marketing, etc. But sometimes it's a mystery. Take this GREAT house on Bainbrook in my neighborhood (no, it's not my listing!). This house has sold in the past with mutliple offers. It shows very well. It's in great condition and professionally decorated. It has fabulous features like a cool sitting room off the master suite, a huge finished basement, and a nice back yard. I really love this house. And it's price well ($399K, a steal for this neighborhood and this house). And yet, there it has sat for 206 days. These are the ones that make you scratch your head...

(BTW, if you want to find out more about this great house, visit my website at www.MaryFrancesLaGanke@HowardHanna.com and search on MLS #3051641. Or just call me at 216-470-6799 for a personal tour!)