News from the NAR:

“Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

So what does the mean for you? Whether you are a buyer or a seller the market is continuing to pick up. Despite the news there are opportunities presenting themselves every day. This past weekend we put a new house on the market in the Montclair Hills and had 63 phone calls into our office and 22 showing in the first full day it was available.  By day five, we were able to generate nine offers on the home with the top offer being close to 20% over asking. This just shows that sellers are continuing to sell and buyers are continuing to buy.

If you are on the fence or simply testing the waters before participating, the time is now. Let us help you take advantage of the buyer tax credits and short sale opportunities available.

Call today for free Comparative Market Analysis and a no obligation discussion of how our proprietary home sale system can work for you.

Regards,

Dave and Carla