Business pundits and bloggers, seeking the next sensational headline, have begun suggesting the death of the American Dream; home ownership. Let me state emphatically, while still remaining civil; they are wrong. The days of lax credit and undisciplined borrowing have been halted by reality. We know that in a free society, tough times never destroy the dream.

REALTORS® who have practiced for any length of time have all experienced that excitement of a purchaser who just found their future home. Children gleefully chose their bedrooms, furniture placement is visualized and the perfect place in chosen to plant a tree to grow up with the “kids”. They know that home ownership is an investment in their stability and future. The benefits to the homeowner and society are many and can’t be destroyed by setbacks and fear mongering.

REALTORS® know that home ownership is an investment in the future. Enjoy the comfort today — reap the benefits tomorrow. A National Association of REALTORS® study entitled Social Benefits of Homeownership and Stable Housing found that homeowners are more likely than renters to vote, and volunteer time for charitable and political causes. Data from the U.S. Census Bureau shows that homeowners do not move as frequently — creating more stable neighborhoods. The involvement of families in community quality-of-life issues helps to prevent crime, improve childhood education, and support neighborhood upkeep.

Owning a home is one of the best ways for individuals to build long term wealth. Over time, it provides equity accumulation and tax benefits. According to recent data from the Federal Reserve Board, a homeowner’s net worth is 46 times that of a renter’s.

Today we face economic challenges that were in part created by questionable lending practices and excessive risk-taking in mortgage-backed securities. Restructuring entities such as Fannie Mae and Freddie Mac, and improving regulation of the mortgage lending industry is necessary. Our country will return to economic strength. Private home ownership is an integral part of our nation’s economy and recovery. The American Dream will not die because of a noisy few.

While home buyers are playing the “wait and see” game; rationalizing that they may save money by waiting for lower prices, there are many advantages to purchasing now. Mortgage rates are near record lows; population increases, immigration and the next generation of first time home buyers continues to drive demand. Buyers typically use their own money to cover only a portion of the purchase price. Smart buyers realize that given time, home values appreciate, and equity growth is on the entire value of the property. Qualified buyers will take advantage of mortgage leverage.

For you who are able and willing to be responsible homeowners, the dream is still very much alive. Contact your REALTOR® today and build your future through homeownership. It’s the American Dream!

Published in the Spokesman Review, June 27th, 2010

There are five things necessary for every seller of a property!

1. First, find a professional you trust! Then listen! Listen to suggestions for pricing, staging and showing the property.

2. Prepare the house by de-cluttering. Start packing. If you are intent on selling, then you are intent on moving. Collect boxes, and fill them!

3. Clean the house. Top to bottom—make it sparkle. Hire help if necessary. Don’t let any buyers inside until the house is spotless. It means dollars in an offer!

4. Repair everything that you’ve been living with that isn’t quite right. Look around—dripping faucets, peeling paint, window blinds that are broken or crooked, dull or ugly paint—it’s what the buyers see first. Maybe it’s time to re-roof. Sellers can do it for half of what the buyer’s take off an offer price! One negative aspect of a terrific home can affect the willingness of the purchaser to pay the asking price.

5. Be flexible. In a market that is flooded with properties and fewer buyers, the trick is to beat the competition. If sellers want to sell, and marketing time has extended, it’s time to re-think decisions on pricing, conditions, and availability. It might be time to do a bit more fix-up, change the price and have open houses. Work with your professional to re-think strategies.

THEN, congratulations…..you’re on the move!

There is good news for home owners. If you are looking for resources and reliable information there is a new web site designed just for you. HouseLogic is designed to provide everything you need to know regarding wise investing, financing, home projects and more. We have found it to be about one of the absolute finest places to go when you have a question. It’s free, easy and a must-see! You will also be able to permanently get to the site through the Resources section of my website. So, go take a look.

We’re all playing the guessing game as to whether or not the $8000 tax credit will be renewed. There are those that have made the conclusion that it’s almost certain – after all, hasn’t it helped some buyers make the decision to move forward with their purchase of a new home?

I’ve enjoyed helping several first time buyers recently. And yes, a few were motivated by the tax credit, and others were ready to purchase regardless of the motivating dollars. So, the Realtor buzz is “can we get all these loans closed before December 1″? Of course, it all remains to be seen if an announcement will be made late November that there will be an extension and all our panic was unnecessary.

Now you need to hear the rest of the story. Of course, there’s always another piece to the puzzle. News released today discussed the fraud that had already occurred with the tax credit. Some applications for the credit are being investigated because it appears they are under-age buyers. Four years old! When there’s cash to get there will be someone willing to give up their morals and ethics. Now I’m picturing getting the signature of the four year old that supposedly purchased his new home. Crayons, maybe. Lots of candy in the back seat of my car as we toured the city. Could have been an easy client!