Preparing for the Spring Market
By Steve Levine

As I write this column, it's 5 degrees outside and the wind chill is 7 below in Worcester County, so it seems understandably odd to think about getting ready for the spring market. That said, it's really just a few short weeks away, and contrary to the doom and gloom you're hearing out there from the media, I think it may ultimately be an awesome market. All the signs are there already that would predict a potential stabilization and, dare I say, a spike in prices over the next few months.

What are some of those signs?

First and foremost is activity. There are tons and tons of buyers out there. Granted they've been frozen like deer in the headlights, and petrified to make a decision, but they are out there. I did an open house on a new listing last weekend, and we had over 40 buyers come through. That's just unbelievable turnout, and on a lousy day, no less.

Secondly, prices have truly come down to within easy reach of the single income family again. That property that seemed unaff ordable at $615K back in late 2005 might now be priced at $549K, and at that price it's ready to move.

Thirdly, rates are once

again testing alltime record lows. With fixed rates approaching the mid 5% range, in conjunction with the price correction, the affordability factor has risen dramatically.

Fourth, inventory

has been dropping dramatically, as properties sell or come off the market, but are not being as actively replaced by new sellers who have been afraid to tread into the water. This has created a very odd anomaly whereby buyers are so sure that it's a "buyer's market" and that the system is flooded with inventory, while at the same time they can't seem to find a home that they want to purchase.

Lastly, market sentiment is changing fast. For the past few months everyone seemed to be running around with the attitude that the sky was falling. Finally, there's a realization that in the long run the market will likely be fine, as it always has in the past, and that this may represent a rare chance for those who didn't get into the market before the last big run up to finally profit.

Much as the pitchers and catchers are reporting to spring training this week, preparing for the spring market starts right now. By planning in advance, we can be assured to hit the ground running and maximize the value of the property. A lot of that has to do with getting the home ready for sale. Interior painting is one of the least expensive and most profitable things that any seller could possibly do, and now is the time of year to have it done … before painters are backlogged with exterior work. Exterior painting, driveway resealing, and masonry work all need to wait until it warms up - but now is the time to make the calls and get on the schedule before everyone else does.

The Levine Team makes it happen. Over the years, I've worked hard to cultivate relationships with local contractors to put together a cohesive team of people to help my home sellers, from early pre-market house preparation, to post inspection issues, and preclosing items. It's all part of a value added service plan I developed years ago to provide one-stop shopping and ease of management for our clients. These folks are experts in getting in and getting things done, both making sure all items done are aff ordable, but also making sure they're done right and don't need to be redone again later. More importantly, they come through for me. It seems easy, but just try finding an electrician to come over and replace 4 hard-wired smoke detectors on Christmas Eve for a closing on the 26th. For more info on the diff erent services I can provide, just ping me an email at steve@stevelevine.com and we can chat.

I've put together a suite of online videos that you should definitely check out when you have a moment. They cover a huge array of topics, from home preparation, to appraisals, as well as several techniques that could save you tens of thousands of dollars on your transaction. You can watch online by going to my main webpage at www. stevelevine.com and clicking on the video camera on the home page. They're also available on a free DVD if you prefer.

Ultimately it's proper preparation that will do the most in any market, and we should all be using this time to get everything ready that we can, so that we can truly hit the ground running. Usually, we herald in the real "spring market" around March 1st, when there's still snow on the ground, so as hard as it may be to believe now is the time to be preparing. If we wait too long, you'll see more leaves on the trees, but also lots more competition as the market gets flooded with inventory again.

While things are quiet and we have some time, let's begin to discuss the property appraisal, any repairs that need to be done, enhancements that we think will generate a great return on investment. A nice low-key meeting over a cup of hot coff ee in February can really make the diff erence between success and failure in April or May.

Steve Levine is President of Steve Levine Inc. and an agent for REMAX First Choice. He has been the top REMAX Agent in New England since 1999, and is the recipient of the 2007 Good Neighbor Award from the Massachusetts Association of Realtors. He can be reached at 508 735-4663 or by email at steve@stevelevine.com.