This Month in Real Estate October 2011 is out!
The main story is about the top things buyers are looking for in their home.
First, Jay Papasan goes over the numbers. The home sale pace rose to 5 million, up from the pace of 4.7 from This Month in Real Estate September 2011. The median price range dropped from $174,000 to $168,000 — continuing the price drop trend across the US. According to Freddie Mac, average interest rates were about 4.09%, another drop (this one at least is positive!) from last month at 4.15%.
Back to the main story, one of the top things home buyers are looking for in their new home is an affordable price. As the numbers have shown, the median price has been dropping over the past few months. One surprise the researchers found was that sometimes price was even more important to home buyers than location!
The second thing buyers are looking for is a well maintained home. Make sure to have repairs done as needed so when you are a seller, you showcase pride in your home, and buyers can see it. If you need recommendations on handyman services in Towson, please let me know. I know a number of licensed contractors who have done good work for my clients!
In News You Can Use, Bryon Ellington discusses how to keep your home warm this winter.
1) Insulate pipes in crawl spaces and attics.
2) Caulk or insulate cracks around windows and doors. Keep the warm air in — and the cold air out!
3) Change or clean your furnace filters. This should be done on a monthly basis, but in case you have forgotten (as many of us do!), now is the time to get on track to do it! Dirty filters restrict air flow, so more energy would be needed/used to push heat out throughout your house.
4) Drain your sprinkler and hose pips so the underground pipes don’t freeze and burst over the winter.
5) Keep your thermostat at a lower temperature when you are not at home, so you don’t overwork your system!
For more information on selling a house in Towson and referrals for contractors, please contact me. It would be my pleasure to help!
[…] better than September’s numbers. Median home price was $165,000, which is another drop from This Month in Real Estate October 2011. Interest rates rose very slightly to an average of 4.1% for a 30 year fixed […]