The other day, I had several errands to run, and when I pulled my car up to a department store parking lot...it was full! Under the weight of my usual to-do list, I normally would've been frustrated, but instead, I was elated! I continued on with my errands, only to find the next two situations exactly the same. People were out, places were crowded. Later that evening I went to dinner in a local restaurant that was so busy the wait for a table was 45 minutes.

What could have been a series of annoyances turned into signs that people were showing more consumer confidence by spending again. Keep your fingers crossed that we have several months of increased consumer spending -- perhaps brought on by recent stock market gains.

Today is a great time to sell a home, while inventory levels remain low and in most cases prices have been holding steady.

It's also a great time to buy, as the interest rates are exceptionally low and there are some truly great buys to be found in this market.Remember -- you only know when things have hit bottom when they start to go back up. And things sure seem to be looking up!Have you found yourself more confident to dip your toe in the retail pool? I'd love to hear about it.

Warmest regards,

Rina

What constitutes an "Amazing Deal" ?

Last weekend I was holding an open house on 2 very attractive properties. Yes 2...Let me explain, this are 2 brand new homes, one next to the other, with many upgrades, absolutely move in ready including landscaping front and back! Did I mention they were priced about 400k less than the same floor plans across the street? and that is not considering all the upgrades and landscaping the neighbors put in after closing.

So as I said, I was holding this 2 homes open with a great turnout, however when I asked questions I kept getting one answer in particular over and over....I love the house, however....what I am really looking for is a "Killer deal"! OK, I can respect that, so I asked, What does a "Great deal" look like to you? How will you know when you have found one? It surprised me to see how few people had an answer. If you do not know what you are looking for looks like, How will you know when you have found it?

I open this question to all of you, I would love to hear your feedback, I am sure many of you do have a very clear picture and that is what I would like to hear.

Of course what constitutes a deal varies from area to area but to be clear you should do some research before heading out, be sure to know the specifics of the area and some of the things to consider are:

1. Look at the most recent numbers (up to the last 2 weeks) for that specific area you are considering, it can be as specific as that floor plan in that particular development on that side of the street.
2. Know how the market is behaving, how this area has behaved so far, does it offer something to back this prices, is it in high demand, why is it so? many of these questions can be answered with the help of a local realtor that is very familiar with such area.
3. Think about the pros of this particular home, some of the things it offers might have a greater resale value than other very similar homes (i.e. Newer home, upgraded flooring, kitchens or other areas, pool, large lot, end of cul de sac, etc.) or it actually might be harder to sell than other homes due to some specific characteristics (i.e closeness to power lines, smaller lot, noise, traffic,etc)

One word of caution, I have seen a few listings with a price that were well bellow market, in some cases this have turned out to be what you can consider as a bait and switch or a hook. When you make an offer on the property they come back saying that they have received many offers so the bank (in most cases) or the owner, are looking at all of them but will only consider yours if you go a little higher since you are bellow the others, (still at a price where is bellow market comps) then they come back again and again telling you that you are amongst the favorites and are now so close until you realize you have now reached market price or above. Not such a deal after all...in the process you let some other homes you liked go into escrow where you could have actually NEGOTIATED a better price.

Now having said all of that, please remember that you are buying a home, this is where you are going to spend every day for hopefully several years so it is very important to remember that even though price IS important, getting something that will make you and your family have a better quality of life in your day to day is also a very important factor.

So remember, clear picture before you head out, get the correct data and happy hunting!

If you would like any information on a specific area please let me know, I can always help you or find someone who can.

Best regards,

Rina

Rina Podolsky

Prudential California Realty

Honor Society

Fine Homes Specialist

rina@my858realtor.com

www.my858realtor.com