Greater Lansing Real Estate Market Update

I will continue to subscribe to my national media sources that provide the real facts, on my Goggle reader and pass them on to my colleagues, clients and customers. There will still be millions of people buying and selling real estate in 2008, just like there was in 2007. In most major cities housing prices are still showing long term gains "In some ways, the extended real estate boom from 2001 to 2005 created unrealistic expectations that housing is a short-term high-yield investment," said NAR Chief Economist Lawrence Yun in a Realtor.org, recent article. I think he hit it right on the head, real estate is long term.

Your home's value depends on many factors, including its style and size, amenities, condition and, of course, location, location, location. In addition, the value of your real estate investment can be affected by market conditions: interest rates, supply and demand and the overall strength of the economy. What to do?

1. If your moving up, keep in mind that if you take a sale price 10% less asking price, you can probably pick it up on the new home you buy. 10% on $150,000.00 = $15,000.00 less. Buy a $200,000.00 house at 10% less = $20,000.00 Gain or a $5000.00 net gain, plus the new home you wanted.

2. If your not motivated to move, don't need to sell, stay where your at, however, keep in touch with the market. you can do that by visiting my website often or subscribing to my blog RSS.

3. If you're a buyer sitting on the fence. It's time to get off. Home prices are bottoming out, interest rates are still the lowest in years, you have plenty of properties to pick from, sellers are more apt to negociate and as the market changes, so will the prices and interest rates. There has never been a more opportune time to buy than today!

4. If you in trouble on your house payments, need help to keep your house or need to sell prior to foreclosure, seek professional help. There are numerous programs recently introduced to assist you. Make sure you investigate your options. It cost nothing to be advised by a professional.

5. If your looking to invest in real estate for building your portfolio, this is the time to pick up great investments on bank owned homes in the Lansing area. However, be prepared for vacancy, due to high vacancy and competitive rent rates.

For most of us, our home is more than a house and more than "just" an investment. Knowing the value it holds can have a significant impact on how we achieve our financial goals. That's why, I want to earn the right to service your real estate needs now and in the future. If you live in Lansing, Delta Township, Grand Ledge, Delhi Township, Holt, Okemos, East Lansing, Haslett , Bath, Dewitt, Mason or Eaton Rapids, I service your area and you can "Expect the Best" Mike