Seller's Are Coming Back into The Market Real Estate Market

Regular sellers are coming back into the real estate market that has been dominated by foreclosures and bank owned homes. While it has been a shock to many homeowners that the value of their homes has decreased, They are becoming more realistic about the value of their homes. The statistics from a national survey conducted by Home Gain indicated that 36% of home owners think that their homes should be listed 10 to 20% higher and this is down from 45% of seller's in the first quarter of 2009.

There are good reasons for seller's coming back into the market. Many home owners are experiencing life changes: retirement, relocation because of job changes, family changes and pent up demand. Many home owners are taking advantage of the lower purchase prices on their dream home. While the foreclosure rate is terrible we have to remember that over 97% of home owners are keeping their mortgages current and a great many own their homes out right. Another good reason to consider selling is interest rates are reasonable for you new purchase. Interest rates as of October 26th were 5.125% for conventional loans with 20% down and 5.25% for FHA loans with 3.5% down.

Homeowners considering selling need to do their homework and see how their particular situation is suited to selling. The first step is to evaluate the value of their home in today's real estate market and their equity and prequalify for a loan for a new purchase. The second step is to decide how they will market their home and research experienced real estate agents in their area. The third step is to make the decision to list their home for sale. Call Hugh Lilly at 209-479-9222 or visit www.hughlilly.com and request a free market analysis of you home and a customized marketing plan.