By Stanley Popovich
Many people deal with the anxieties of buying or selling a home. This process can be confusing to many people. As a result, here is a list of ways that a person can use to manage the anxiety of purchasing or selling a home.
The first step is to determine your goals in purchasing or selling a home. Determine what you want to accomplish. It will save you a lot of time and money in the long run if you know what you are looking for. Sit down and think about the overall goal of what you are looking for and convey this to your real estate agent. Some people like to write down their goals on a piece of paper so they have something to go back to when they get stressed.
Educate yourself on the steps of purchasing or buying a home. Go to your local bookstore and find some books that will explain the process of buying or selling a home. There are many books available that can inform you of the process and will help reduce the anxiety of the situation. Most importantly, you will be able to make smarter choices that will save you time and money.
Find a reputable real estate agent that can help you accomplish your goals. Ask some of your friends on who they recommend and get in touch with them. Referrals from people you know are a great way in finding a good real estate agent.
Get your finances organized. Make sure you have an idea on what you can afford and also make sure that your credit is good. The financial aspect of buying or selling a home does not have to be scary if you have a sound business plan and a realistic budget. Some people may buy a home that they can't afford and this can cause problems down the road. Determine what you can afford and develop a budget where you will be able to keep up with your bills.
In addition to using the services of a good real estate agent, try to get a friend who is more experienced to help you. Chances are good that you know someone who has purchased or sold a home. You could ask them for their assistance and ask them questions on what to do and what not do. Having a friend who can assist you along the way can really help reduce the anxiety of the process.
Read the fine print on everything before signing and do not assume anything. Ask questions if you are uncertain on some aspects of buying or selling a home. A good real estate agent will not mind if you ask questions, however you should do your part and try to educate yourself on the entire process.
There will be times when everything happens all at once. When this happens, a person should take a deep breath and try to find something to do for a few minutes to get their mind off of the current situation. A person could take a walk, listen to some music, read the newspaper or do an activity that will give them a fresh perspective on things. Once you calm down, you will better able to make the right decisions.
Purchasing or selling a home does not have to be a bigger deal than it has to if you take the proper steps. There is help out there if you get stuck or confused. The most important thing is to do your homework. Determine your goals, educate yourself on the steps to reach your goals, ask questions, and take it one step at a time. If you follow this advice you will be better able to reduce the stresses of purchasing or selling a home.
BIOGRAPHY:
Stan Popovich is the author of "A Layman's Guide to Managing Fear Using Psychology, Christianity and Non Resistant Methods" - an easy to read book that presents a general overview of techniques that are effective in managing persistent fears and anxieties. For additional information go to: http://www.managingfear.com
Monday, June 28, 2010
Tuesday, June 8, 2010
Flathead Lake Waterfront Sales Rebounding
Flathead Lake Waterfront Sales Rebounding
Flathead Lake waterfront properties have arguably been the hardest hit in the current recession. Significant media attention was given to the fact that no waterfront residences sold for the first 6 months of 2009, followed up by the hype of a multi-million dollar waterfront auction. Once prices adjusted accordingly, the second half of 2009 finished with a respectable 20 waterfront sales compared to 23 in 2008, and total sales volume down only 26% from the previous year.
Assuming 2009 was the low point of this cycle, the second-half rebound has continued into the first part of this year. Pricing pressure continues to keep Flathead Lake properties affordable, and sales continue to pick up. Extrapolating the current sales rate (through May, 2010) to the end of 2010 results in an annual increase of 80% in transactions and 63% more in total sales over 2009. Even if this rate does not continue, the fact remains that 15 properties have changed hands for a total of nearly $13M in sales volume in the first 5 months of this year, compared to the big goose egg in the first half of 2009!
Waterfront inventory has steadily been on the rise since the first of the year as sellers ramp up for the summer selling season, and sellers have been encouraged by sales activity. List prices have been flat to falling over the same period for residential waterfront, and land prices have been holding steady with very little activity.
I expect the current prices to hold steady for the rest of this year if the existing economic environment persists. If interest rates make a sharp rise, we could see prices drop a bit further. Given there will always be a limited supply of waterfront land on Flathead Lake, and a persistent demand for the unique enjoyment of waterfront living, the trending data gives us an idea of where the bottom of the lake market really is.
Please visit www.DavidFetveit.com for more updated market information, and subscribe to the Waterfront Market Report – a monthly electronic publication containing up-to-date sales and market information for Flathead Lake waterfront.
Flathead Lake waterfront properties have arguably been the hardest hit in the current recession. Significant media attention was given to the fact that no waterfront residences sold for the first 6 months of 2009, followed up by the hype of a multi-million dollar waterfront auction. Once prices adjusted accordingly, the second half of 2009 finished with a respectable 20 waterfront sales compared to 23 in 2008, and total sales volume down only 26% from the previous year.
Assuming 2009 was the low point of this cycle, the second-half rebound has continued into the first part of this year. Pricing pressure continues to keep Flathead Lake properties affordable, and sales continue to pick up. Extrapolating the current sales rate (through May, 2010) to the end of 2010 results in an annual increase of 80% in transactions and 63% more in total sales over 2009. Even if this rate does not continue, the fact remains that 15 properties have changed hands for a total of nearly $13M in sales volume in the first 5 months of this year, compared to the big goose egg in the first half of 2009!
Waterfront inventory has steadily been on the rise since the first of the year as sellers ramp up for the summer selling season, and sellers have been encouraged by sales activity. List prices have been flat to falling over the same period for residential waterfront, and land prices have been holding steady with very little activity.
I expect the current prices to hold steady for the rest of this year if the existing economic environment persists. If interest rates make a sharp rise, we could see prices drop a bit further. Given there will always be a limited supply of waterfront land on Flathead Lake, and a persistent demand for the unique enjoyment of waterfront living, the trending data gives us an idea of where the bottom of the lake market really is.
Please visit www.DavidFetveit.com for more updated market information, and subscribe to the Waterfront Market Report – a monthly electronic publication containing up-to-date sales and market information for Flathead Lake waterfront.
Wednesday, June 2, 2010
Montana Economy - signs of turnaround
The Montana Department of Labor and Industry: Research and Analysis Bureau just released an update on the Montana ecomony. Their report states that while the U.S. economy appears to be in recovery, the signs are not so clear for Montana. Unemployment rates continue to rise, but job growth is also being reported. Their report also states that "using personal income data, Montana has joined the nation in its economic recovery" which is a good sign. The continued growth in unemployment is not unusual. Job growth normally doesn't occur until months after a significant turnaround in the economy. For the full article and charts to help visually explain the state of the economy, visit their website at www.ourfactsyourfuture.org.
More specifically, we are noticing a significant upswing in business in the real estate industry. Both 4th quarter 2009 and 1st quarter 2010 showed significant improvement over prior years. For market information specific to your neighborhood in the Flathead Valley visit our website at www.trailswestrealestate.com and visit the Market Stats section under the About Us tab.
Laura Manning is the Business Manager at Trails West Real Estate and enjoys crunching numbers almost as much as boating, hiking, camping, and playing outdoors during the long beautiful days of summer. She can be reached at 406-837-7050 or laura@twre.com if you would like additional market information.
More specifically, we are noticing a significant upswing in business in the real estate industry. Both 4th quarter 2009 and 1st quarter 2010 showed significant improvement over prior years. For market information specific to your neighborhood in the Flathead Valley visit our website at www.trailswestrealestate.com and visit the Market Stats section under the About Us tab.
Laura Manning is the Business Manager at Trails West Real Estate and enjoys crunching numbers almost as much as boating, hiking, camping, and playing outdoors during the long beautiful days of summer. She can be reached at 406-837-7050 or laura@twre.com if you would like additional market information.
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