Buyers are in charge when it comes to real estate these days. Sellers don’t like this piece of news, and who can blame them, after-all no one likes to be on the losing end of a game. This means that it is a great time to be a home buyer, even better if you don’t have to sell a piece of real estate to buy a new one. What makes it such a great time to be a buyer? Mortgage rates, home prices and inventory. That’s right, these three items add up to create prime buying power.

Mortgage rates are low, averaging just over 4.5% for a 30 year fixed rate mortgage, and they don’t appear to be heading up any time soon. If you have a job and a steady source of income as well as good credit, there couldn’t be a better time to buy a new home.

Home prices are down. While there are some areas of the United States that appear to have reached bottom, few areas are rising but merely stabilizing. Some parts of the country are still dropping and bargains abound.

Inventory of homes for sale is high. A high inventory means more bargaining power for buyers. There aren’t a lot of home buyers out there and sellers who are lucky enough to receive contracts don’t want a potential home buyer to get away.

In a nutshell, if you want to buy a home get out there and start looking!

Click here to read a recent article from CNN Money about being in a buyers market.

It is a great time to buy luxury real estate. Not only are mortgage rates once again at historic lows, but real estate values are low and inventory is high. It is a buyer’s market, which means it is an exceptionally great time to invest in a larger, nicer home, a better time in fact than has been seen in years. A recent article in the Wall Street Journal mentions that a larger home gives more bang for the buck, and these days that is exactly what people are looking for.

It has taken a bit longer for sellers of high end homes to come to grips with reality. That reality is that it is no longer a seller’s market and that sellers are no longer in control. What that means is that sellers now feel the need to not only come down in price but do a better job of haggling when they get an offer, after-all it is an unknown when the next offer may arrive.

Click here to read a recent article from the Wall Street Journal on why it is a good time to buy a bigger, nicer home.

When it comes to real estate, Spring selling season is here and luckily it coincides with Spring cleaning. Spring represents growth and a fresh start, a time when many people clean out the old and start anew. With the recession subsiding and real estate sales picking up it is more important than ever to give your home a fresh, clean look. Where to start? The windows are a great place to begin.

Cleaning windows can be done with Windex and a cloth (or paper towels) or with a squeegee and soapy water. The squeegee method can be a bit messier, easier on the outside of the house, but significantly less time consuming. When cleaning the windows don’t forget your screens. Take them in the back yard and hose them down.

Other great areas to clean are the refrigerator and other appliances, like the stove and oven. Most people will open the refrigerator and take a look, so empty it out and clean the walls and shelves. A self-cleaning oven makes cleaning it a snap.

Clear out your cabinets and clear off your counters. Look around your home and try to see it through a potential buyer’s eyes. The cleaner your home appears, the more appealing it will be. Spring is here, time to start fresh.

I came across a couple of websites in Money Magazine we thought you might be interested in.

The first is WalkScore.com. This site calculates the walkability of an address based on the distance from the house to nearby amenities. Walk Score measures how easy it is to live a car-lite lifestyle—not how pretty the area is for walking. If you are interested in being within walking distance of restaurants, shops, libraries, parks, etc, you will enjoy this website.

Next is DIYorNot.com. This site helps you compare the time and cost of doing a project yourself vs hiring a local contractor. For example, the cost of having a professional replace a stove hood is $538 vs a ‘do it yourself’ cost of $400. Costs can be adjusted by Zip code.

It is important to research a neighborhood before purchasing your new home

While many people seem to think that it is not wise to think of your home as an investment, the reality is that your home is an investment. This being said there are some things to keep in mind when setting out to buy a home, the least of which is getting to know the neighborhood you wish to buy in. If you do your research and your homework selecting your home properly can insure more of a return for you when you decide to sell at some point in the future.

Research the neighborhood that you want to live in. Aside from knowing the schools and amenities that are available, take a close look at the property levels. Which streets hold more value? Is one edge of the neighborhood closer to a more upscale neighborhood, is one side close to a less desirable neighborhood? According to Realty Times, less is more. They say purchasing the least in the best neighborhood will give you the greatest return as every time a better house sells your value goes up as well.

While you may not look at your primary residence as an investment, in the long run it may be the best investment you have, so do your research and you will be happier in the long run.

Click here to read buying advice from Realty times.

Current home trends lean toward a simpler more efficient lifestyle

From wall coverings to energy efficient appliances, trends are set in home remodeling and design just as they are in fashion, entertainment and elsewhere. Realtor Magazine recently published an article on current home trends and, not surprisingly most are geared toward cost effectiveness, energy efficiency or reducing stress. The past few years of enduring a recession and a housing bust have made people want to get down to the basics and live a simpler life and these priorities have filtered into the home.

Current trends in home design include neutral colors, like white and beige, which are more calming than bright vibrant colors. Energy efficient appliances like refrigerators and cook tops are also being used more frequently as they are better for the environment and, in the long run, the wallet. In order to keep the calm people are also adding relaxation rooms to their homes, whether they be complete spa rooms or a simple massage chair. A designated place to unwind helps erase stress and add to home’s value at the same time.

Click here for a complete look at current home trends.

It is a buyer's market

When it comes to real estate the general sentiment appears to be that of putting 2009 in the past and looking forward to a brighter 2010.  Looking at where we are and where we are headed as far as real estate goes will take us from the present into the future.  Currently home values are affordable, because prices are low and interest rates are low.  Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to real estate.

Interest rates have been hovering at 5% or lower for the better part of the past year, a trend that cannot be expected to continue.  As the market stabilizes more and the economy gets better, interest rates will rise.  While home prices still may drop in many areas of the country, they will not drop much more.  Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.  A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell now is a great time to buy if you have been waiting for the right time to plunge into the market.  Take advantage of low interest rates while they are here.  It is a buyer’s market now, it won’t be forever.

For an interesting analysis of the real estate conditions and a forecast of 2010, by CNN Money, click here.

Minimalism advocate D.H. Mondfleur once said, “Cell Phone are the latest invention in rudeness.” In fact, 68 percent of Americans say they observe poor cell phone etiquette—such as with overly loud conversations—at least once every day, according to a national poll from market research group Synvoate.

Could you unknowingly be one of these offenders?

Here are some basic cell phone etiquette rules to keep in mind when interacting with colleagues and customers.

1.      Remember who you’re working with.  How would you feel if you were having and important conversation with a sales associate, and she broke off the discussion every time her mobile phone buzzed?  Your customers are your boss.  They want your attention, and you’re compensated for the time you spend with them.  Block out all other issues while you’re working with them and make sure you give them your full, undivided attention during the appointment.

2.      Bluetooth headsets are not meant to be permanent.  It’s good to used hands-free devices such as Bluetooth headsets, especially when driving or multitasking—but they don’t have to be affixed to your head 24/7.  If you’re showing a property, attending a meeting, or simply having lunch with a client, get  rid of the headset.  Bluetooth is fine when you’re alone in your office or driving in you car, but try to avoid keeping in your ear all hours of the day.

3.      Talk at a normal tone.  Seventy-two percent of people in the above-mentioned Synovate survey said the most annoying cell-phone violation is people who talk to loud.  Most cell phones can pick up very quiet noises.  Not to mention, most people around you don’t want to hear your entire conversation.  Some experts suggest a 1—foot zone, meaning you should try to be at least 10 feet away from other people when talking on your cell phone.  While this rule may be difficult in some situations, try to practice speaking at a soft and normal tone.

4.      Don’t forget vibrate or silent modes.  Next to the “loud talker,” the most annoying cell phone habit is a loud, annoying ring, especially when it blares during a meeting or other relatively quiet function.  Make it a habit to check you cell phone regularly when entering a meeting or important gathering to make sure your cell phone is either turned off or switched to the vibrate position.

5.      Avoid goofy ringtones.  Hearing your favorite song every time your phone rings may seem cute to you, but it could be construed as offensive, obnoxious, or simply unprofessional to others.  Stick to generic-sounding ringtones when programming your phone.

6.      Don’t text and drive.  Chances are that you’ve passed someone on the highway that is driving and trying to text.  Don’t be that person!  (Don’t be near that person, either!) This is dangerous and should be avoided at all times.  Plenty of major road accidents involve texting.  If you must text in your automobile, do so while your car is parked.

7.      Don’t reply to a missed call with a text.  In general, if you miss a phone call from someone, avoid responding with a text like, “What did your need?”  This rule can be broken in certain situations, however. For example you might be in a movie where you need to reply with a text indicating you will call back as soon as possible, but do so sparingly.

8.      Avoid talking on your cell phone in certain places.   Most people will agree that certain places are off limits to talking on your phone—for example, at the movies, in elevators, while standing in line at the bank, and during a meal at a restaurant.  If you have to think twice about whether you should use your cell phone, you probable are not in a good place to be talking on it—so put it way.

9.      Don’t multitask unless you need to.  We’ve all done it, but it’s bad phone etiquette, and the person you’re talking to can tell when you’re distracted.  Sometimes its inevitable.  But when possible, stop your other tasks, focus, and give the call your full concentration.

10.  Let callers know when you’re using your cell phone.  In many circumstances, it’s good to remind or inform the other party that you’re using your cell phone in case distractions or a disconnection arises.  Plus, some information may be confidential, and your client or customer might not want to share sensitive information if she knows you are communicating through a mobile device.  When applicable, take the time to let your callers know you are speaking on your cell phone, and if they have any important or confidential information they wish to share, you will call them back from a land line or meet them in person.

In any case, the next time you reach for your smart phone, be sure to remember some of these simple phone etiquette strategies—your customers, and those around you, will be glad you did.

John D. Mayfield is a sales coach, author and broker/owner of Mayfield Real Estate in Farmington Mo. You can contact Mayfield at www.5-minutes.com/abut_John.htm.  Reprinted from Realtor Magazine online May 2009 with permission for the National Association of Realtors.  Copyright2009.  All rights reserved.

It's a great time to invest in luxury real estate

The news is more and more positive across the Country, home prices have risen for three straight months and the number of sales have increased for four straight months.  Great news?  Any positive news is great after the real estate market our Nation has been weathering.  However, real estate values are hardly skyrocketing and, while increasing, sales volume is hardly knocking homes off the shelf.

It is a buyers’ market, there is no doubt about it and the buyers getting the best deal are those buying luxury real estate.  Luxury homes have had the biggest drops in pricing and for those with deep pockets the savings can be tremendous.

A recent article in the Wall Street Journal points out the significant drop in price among luxury real estate.  Data is showing that while mainstream home prices are stabilizing, luxury real estate, homes selling for $2 million or more, are dropping their asking prices an average of 14%.  The article states, “Bottom line: At the high end, it’s a good time to be shopping for that dream home.”

If you have been dreaming of luxury real estate and have the money, this could be the time to make your dream come true.
Click here to visit the Wall Street Journal article “Seeking Real Estate Bargains? Try Looking at the High End”.

If you decide to purchase a home by December 1, 2009, you will be entitled to an $8,000 tax credit. This amendment to the economic stimulus bill will be available to if you purchase your first home between 1/1/2009 and 12/1/2009. Home buyers will be entitled to claim a total tax credit of $8,000 or 10% of the purchase price, whichever is less.  To avoid possible abuse of this credit, it is only allowed for your primary residence and will only have to be re-paid if said house is sold within two years of purchase. Keep in mind that you must close on or before December 1, 2009 to be eligible for the credit. Most closings take about sixty days, so with that in mind you must go under contract by October 2nd, 2009 – this gives you seventy-three days from today to find your first home. If you manage to meet these deadlines, all you have to do to claim your credit is fill out I.R.S. Form 5405.

For more information about this credit go to the IRS website.