Compiled by National Financial News Services. Click here to read more.
In softening market, adopt a new attitude. Instead of double-digit appreciation rates, look for 4% or 5% appreciation in 2006. Instead of mortgage rates at historic lows, look for conventional 30-year rates in the 7% to 8% range and a couple of points higher for sub-prime borrowers. Plan for slower-moving sales, more unsold housing inventory sitting on the market and scaled-back listing prices. This is the "soft landing" scenario that many — but hardly all — economists expect to be the final phase of the current cycle. Others forecast harder landings in the frothiest cities of the West and East coasts if interest rates get out of hand. based on observations of what happened — and what worked — in earlier cyclical downturns during the 1970s, 1980s and 1990s. Prospective sellers and buyers in 2006 will need to be much closer students of the dynamics and psychology of their local markets than they had to be during 2003 and 2004, when sellers held most of the cards and buyers begged them to take their money. If you are seriously thinking about selling your primary home or an investment property next year, first you've got to comprehend precisely where your real estate is positioned inside its own sub-segment of the overall market. Click here to read more.
Moving issues, how can we prepare for the big move? Figuring out what you're going to do ahead of time can help. According to the American Moving and Storage Association (www.moving.org), you should start planning your move at least eight weeks in advance. Eight weeks out, obtain a floor plan of your new property, inventory your household goods, solicit bids from legitimate moving companies, choose a mover, contact your insurance company to find out whether your homeowners' policy will cover your goods when you move, create a file for your moving paperwork, and begin the process of transferring your children's school records. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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