Pos­i­tive eq­uity trans­lates into bet­ter hous­ing mar­ket

Sun Sentinel Broward Edition - Homespot - Broward East - - REAL ESTATE Q&A - By Sa­man­tha ( Sam) DeBianch

Q.

I am see­ing re­ports that fewer home­own­ers are see­ing neg­a­tive eq­uity. What does that mean in terms of real es­tate sales and pur­chases? A.

When there are fewer peo­ple in a neg­a­tive eq­uity po­si­tion, it gen­er­ally trans­lates into more prop­er­ties show­ing up on the mar­ket. It’s pre­dicted that in 2014 re­peat buy­ers are go­ing to be the lead­ers in the buy­ing pool. The more peo­ple see pos­i­tive eq­uity in their homes, the more in­clined and mo­ti­vated they will be to sell their home and pur­chase another. Q.

I am see­ing pos­i­tive eq­uity in my home and I am ready to sell. I am de­bat­ing on what num­ber I should use to price my home. Are there any “cre­ative” meth­ods of pric­ing a home to make it more at­trac­tive? A.

Ob­vi­ously the most at­trac­tive way to price your home would be to price it to sell! I have seen “odd” pric­ing like $951,877, and I per­son­ally feel like that brings neg­a­tive at­ten­tion to a prop­erty—much like paint­ing your house neon pink. When you bring the at­ten­tion to the num­bers (and make it about ques­tion­ing where the num­bers came from), ver­sus bring­ing the at­ten­tion to the price, you take away the po­ten­tial buyer’s fo­cus and can pos­si­bly end up los­ing their in­ter­est in the long run.

My ad­vice—keep your house and your num­bers clean and at­trac­tive! Q.

With all of the news of rates and prices go­ing up I know it’s a great time to buy a home, but I haven’t found any­thing I am in love with. Is it ok for me to wait? A.

Well the old say­ing does go — good things come to those who wait…but in real es­tate that doesn’t al­ways ap­ply. The longer you wait, the faster the win­dow of op­por­tu­nity closes. Prices and rates are go­ing to con­tinue to in­crease, but for­tu­nately for you it’s pre­dicted to be a slower paces than last year.

While you should never just “buy to buy” and cer­tainly never rush to pur­chase a prop­erty, you should look at your home pur­chase from a dif­fer­ent per­spec­tive. No home is go­ing to be per­fect; each and ev­ery one will have to be “fixed up” ac­cord­ingly to trans­form it from a house to a home — your home.

Be open to the pos­si­bil­i­ties of what each home can be for “the now” and “the fu­ture”. Is it in a great lo­ca­tion? Does it have great bones? Does it have all the fea­tures that you need and have the pos­si­bil­ity to be cre­ated into the home that you want?

And if it’s truly not meant to be — con­tinue with your home search un­til you find “the one”.

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