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Wednesday, September 23, 2009

Rochester Housing Prices Rise

A recent report released by the Brookings Institution says that our area ranks as one of the best performing metro areas in the nation. Housing prices, in particular, among other criteria analyzed in the report, not only rose 3.1 percent in the second quarter of 2009 but also rank us 9th in the nation. I honestly believe that this is positive proof that our local economy is on the upswing and that perhaps in 2010 the real estate market will begin to experience some level of normalcy.

Posted by Carmen Lonardo at 9:50 AM

4 comments:

Nina Piccini said...

Carmen,
My senior parents are looking to sell their home in the next 8 months. I am concerned that in this market they will not get what their home is worth. What tips can you give me to get their home sold fast and for top dollar?

October 12, 2009 at 3:03 PM
Carmen Lonardo said...

Hi Nina! Thanks for your question. Here are some points to consider. Regardless of price point, a home valued at $100,000 or one valued at $400,000, buyers today are looking for move-in condition. Everything possible should be done to make the home as move-in as possible. Sometimes that isn't wise because it might take a larger investment than the equity available or the profit that the seller will realize. Some items will enhance the sale price more than others. Your parents should work with an agent who can advise them on this value/investment question. I suggest they meet with an agent now so that they can spend the next 8 months making the necessary preparations. If your parents are like mine, they have been in their home for a very long time and have years of accumulated "treasures" that they will need to relocate. Another reason to start the process with ample lead time! Among many another important consideration is price. Work with an agent who knows the area and can advise you and your parents on a proper list price. If not priced correctly, and remember that list price is also part of the first impression you give, your parents will chase the market for a long time with price reductions and probably end up with a lower sale price than had they priced it correctly to begin with. If you trust your agent, listen to their advise. Hope this helps!

October 13, 2009 at 11:25 AM
Unknown said...

Wow! Beautiful Houses. Now a days people prefer investing in
Foreclosure Homes compared to investing in New Homes.

October 19, 2009 at 3:12 AM
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