Consumer corner

Tue, 09/11/2007 - 1:17pm
By: The Citizen

By Patti Ayers
Special to The Citizen

Know your Market:
Fayette County (Single Family homes as of July 31st), provided by GAMLS:
• Total listings:
2006 - 1430
2007 - 2166 (up 743 from June)
• Average days on market :
2006 - 81
2007 - 134
• Median Price (sold):
2006 - $ 280,000
2007 - $ 275,000
• Highest Price sold home:
2006 - $1,150,000
2007- $1,425,000

Have you ever thought of using today’s market to your advantage?

If you’ve talked to a lender, or financial advisor you might have realized that buying a home, vacation or investment, may not be such a bad idea right now. This market is very good for qualified buyers! First know yourself, what you’d like to achieve financially and understand your own situation. Next get to know your Realtor, their Broker/Agency and the market. Are you happy in your current home? Would an investment in a retirement community or just a vacation home be a good investment right now? How can you maximize your equity?

While there is no doubt that some problems exist, the real world of real estate in mid 2007 is quite different from that painted by the media. Granted, it’s not the go-go real estate market that we enjoyed over the past five years, but our Fayette County market is still sitting in a good market. If you are serious in selling your home a few helpful hints are: listen to your Realtor, consider pricing on a realistic level, make sure your home is clean and clutter-free, consider color neutralizing.

These ideas will raise your home above any other when a potential buyer comes to view your home.

Realtors and real estate companies do so much more than just broker homes sales and purchases. Many are complex businesses offering mortgage operations: title, escrow and settlement services; home warranties and inspections; insurance and concierge services. You, the consumer, deserves trusted advisors (sales associates, closing attorneys, insurance representatives and mortgage consultants) to assist and guide you through today’s complex real estate transactions. Over 84% of those polled in 2006 were very satisfied with the services of their Realtor, from the 2006 National Association of Realtors Profile of Home Buyers and Home Sellers.

Fayette County Board of Realtors and their education committee strive to keep our Realtors on the cutting edge of current trends in today’s market with classes and speakers relevant to our area. The housing market and the mortgage industry have been featured prominently in the news recently. Much of the press has trumpeted the challenges but no one has done an adequate job of highlighting those who have been successful due to sound business practices and dedication to service.

Realtors are all about helping people move, but the current subprime lending crisis has brought in clear focus the added value we can bring to helping home owners and future home buyers avoid having to move because they can’t pay their mortgage. Some of our local Realtors are also involved in government awareness programs to protect not only the individual entrepreneur, but also the buyer and seller from increased taxes, just to name a few of the programs.
The Fayette County Board of REALTORS is one of nearly 1600 local boards and associations of Realtors nationwide that comprise the National Association of Realtors. As the nation’s largest trade association, NAR is “The Voice for Real Estate,” representing more than 1,300,000 members involved in all aspects of the real estate industry.

Patti Harris Ayers is the 2007 President of the Fayette County Board of Realtors

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