Looking Ahead – Top 10 Real Estate New Year’s Resolutions

Posted by John Butzko on January 7, 2010

2010: Your year to get the most from the real estate market.

As the page on our calendars turned to the fresh slate of 2010, Americans are starting to plan what will be a priority for them when it comes to real estate. Exciting things are happening in the market, and the next few months will bring an unprecedented number of opportunities and possibilities for the heads-up buyer or seller.

While existing homeowners and potential homebuyers experience different situations and needs in regards to their future goals and expectations, we present the top 10 possible New Year resolutions to help point some in the right direction for a successful 2010 in real estate:

1. Get in the Game – Join the nearly 18 percent of Americans who say they’ve resolved to become a first-time homebuyer in 2010, according to a new survey HERE. With the homebuyer tax credit extension running until April 2010, this is an exceptional time to get in the game and become a homeowner.

2. Save it – The economy may be rough for all, but try to put away a little something each month to put towards the purchase of your first home. Who knows how long these prices and incentives will last?

3. Fix it – Take the time this New Year to improve your credit rating. Your credit score can greatly affect your monthly payments and loan accessibility. To get started, just take a look at your next credit card statement for a toll free number directing you to counseling help.

4. Get in the Know – Learn more about your local real estate market and the conditions that affect it daily. A great way is to build a relationship with a Realtor you trust. HERE is a great place to start.

5. Home Improvement – Already own a home? Spruce up your castle to make it the best it can be. Starting and completing a home improvement project increases the value of your home and renews your love for the place you hang your hat.

6. Refinance – In today’s challenging real estate market, banks and loan providers are becoming more willing to work with homeowners who struggle to continue making payments. Contact your mortgage provider and seek assistance to refinance or modify your loan.

7. Hit the Market – In such a great time to buy, perhaps it would be wise to sell your home and upgrade while prices are favorable? The market is unpredictable, so ask your Realtor for a comparative market analysis on your home. This may be the right time for you!

8. Invest in the Future – In this market, many people are wisely considering buying an investment property as their top resolution, and they couldn’t have picked a better time in the last half decade. Attractive investment conditions are drawing many out to spend the extra money anticipating housing prices to rise in the next several quarters.

9. Easy Being Green – This New Year, take the steps to make your home more energy efficient. From replacing bulbs and updating appliances to installing solar panels and a tankless water heater, there are a number of options available at all price ranges to make your residence a little more green. Also, check your insulation, windows, doors, electrical outlets and ductwork for leaks. Why let your heating and cooling dollars go right out your windows? Besides, you can get $1,500 or more in tax credits for these home fixes — if you do the work in 2010.

Look for this logo when purchasing your appliances.

10. Plan Ahead – One surefire way to help the value of your home is by updating your appliances. While replacing housewares on a limited budget is difficult, especially if your large appliances are all aging and require replacing in the next few years, begin now to slowly replace or update your appliances and kitchenware on a need-first basis. Keep in mind, buying an Energy Star rated appliance can save you energy and operating costs.