Real Estate Market

Historically low interest rates and the extended federal tax credit have helped millions of buyers take advantage of one of the best buyers markets in history. Market conditions have improved considerably with the help of these stabilizing forces. Expect to see continued market activity through the winter and spring as savvy buyers take advantage of the extended $8,000 tax credit. Freddie Mac reports that 30 year conventional loans available in the high-4 to low-5 percent range.

Increased demand has shrunk inventory while slightly raising homes prices. The national median existing home price rose to $178,300 in December, up 1.5 percent over 2008 prices. The increase was attributed in part to an increase in mid- to upper-priced homes.

The reduction of housing inventory has brought stability to many parts of the country, creating more competition for available homes, and multiple offers in some areas.

When selling your home in the winter, the art of staging the inside becomes more important.  Here are five simple tips that can help you sell your home shine even when the outside landscaping has faded:

• Keep your house warm.  In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
• Clear your walkways and driveways of any snow or ice.  Make it easy for buyers to get to your home.
• Clean the windows and blinds.  Letting in the natural light can brighten up a room and cheer up the home.  This also brings attention to the windows and blinds so make sure they are clean even during winter.  Dirty windows will make the home seem as those it's not well maintained.
• Background music played softly can completely change the atmosphere making the home seem cozy and keep potential buyers around longer.  Stick with classical music which can appeal to anyone.
• Leave the light on.  Before showing a home, make sure it's well lit.  A well lit home is more inviting.  If you're not home, consider setting up timers.