North Idaho Janna

With the U.S. economy a mess, and consumer confidence at an all-time low, we are all waiting to see what 2009 will bring in our North Idaho real estate market.  Are you hoping to sell your home this spring?  If you are, you are in good company based on the number of homeowner requests I have been getting to prepare a CMA, or comparative market analysis. 

If you would like to sell your home this year, take time now to size it up in preparation for the placing it on the market.  Your best chance for success will be if your home shows well when compared to its competition.

Moving forward into 2009, local home buyers will find a good inventory of homes for sale, most of which will be competitively priced and polished up for sale by motivated sellers.

Selling prices remain low, down about 3% in 2008.  Buyers will find eager mortgage lenders with money to lend at low interest rates. 

Our current market conditions offer benefits in each of the four main categories of buyers: first-time buyers, relocating buyers, move-up buyers and investors. 

A first-time homebuyer is someone who has not owned a principle residence in the past three years.  These buyers have the advantage of not having a home to sell.  This is a great position to be in when negotiating.  Call me for information about the $7,500 tax credit that will end on July 1, and other great assistance programs designed for first-time homebuyers.

Move-up buyers will find the market supply and demand is working in their favor.  A typical move up is around 25 to 35 percent increase in price.   There is less inventory in the lower price ranges, making it more of a balanced market, and in some price ranges, a seller's market.  The higher the price, the more supply there is, making it more of a buyer's market.  You may be pleasantly surprised at how well you can do in this situation.  Another good option for move-up buyers is to consider holding onto your existing home as an investment.

Relocating buyers without an existing home to sell can make a strong purchase offer that will get the seller's attention.  Typical relocation buyers are at the higher end of the price scale where inventory is high, sellers are motivated and great deals are being made. 

Investors will find an active rental market and rental income compared to home value about as high as it has ever been.  Interest rates on nonowner occupied properties are about as low as they have ever been.  It still is relatively easy to convert your home equity into a down payment on an investment property. 

I offer buyer consultation and representation 100% FREE of any cost or obligation.  Lert's talk! Give me a call to find out how you can take advantage of the best market conditions for buyers that we may ever see!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS, provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.comto search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

Janna Rankin Scharf, 208.651.9700  NorthIdahoJanna@gmail.com