U.S. Home Sales Jump to 7.4% in November

According to the National Association of Realtors, existing U.S. home sales have jumped to 7.4% in November 2009. Exisitng home sales included single family homes, condos, townhomes, and co-ops, rose 7.45% up to 6.54 million units in November from 6.09 million units in October. These current sales are the highest since February 2007, when sales hit 6.55 million units. This current jump is a result of first time home buyers taking advantage of the $8,000 tax credits to buy a home before November 31, 2009, since the tax credit has been extended and expanded another 4.4 million homes are expected to take advantage of this tax credit. First time home buyer's purchased 51% of the homes in November and 50% in October. For the second consecutive month, sales have increased in all price classes from a year earlier.

To read the entire article, click here: http://rismedia.com/2009-12-22/as-buyers-respond-to-tax-credit-u-s-existing-home-sales-jump-7-4-in-november-2009/

With large amount of homes still on the real estate market, it looks like 2010 may still be a buyers market but it does look like the market is stablizing. With exisiting homes selling over newly built homes, the use of professional home staging certainly comes into play.  According to the NAR's 2009 Profile of Buyers and Sellers, the average age of an existing home that sold within the past year was 18 years old and it was sold to a first time buyer age 39.

In this economy, there are three things that sell a home:

1.  Price

2.  Location

3.  Presentation

An experienced Realtor will be able to help you determine the best price for your home and a professional home stager will be able to help you attract the largest buyer audience. Today, over 94% of potential home buyers are starting their search for a new home on the Internet.   With the extension of the first time buyers tax credit, the first quarter of 2010 is the right time to sell your home and to attract a first time buyer.

Kate, Kate's Home Staging and Redesign, www.kateshomestaging.com, 845-538-3623, your home staging and interior design expert.